The federal government has said it will keep on advocating for gas utilization across the country. This follows the transition around the world to a cleaner energy source.
This was revealed by the Minister of State for Petroleum Resource, Timipre Sylva while delivering a keynote address at the 5th Edition of the Sub-Saharan African International Petroleum Exhibition and Conference, with the theme: ”Post COVID-19: From Global Crises to Global Opportunities.”
He noted that the current administration is moving towards the implementation of the nationwide gas infrastructure plan.
Meanwhile, Total Nigeria said it has been investing $3 billion annually on renewable energy in Nigeria and across the world to maximise its global presence to transition.
According to Sylva, as the world was transiting to cleaner sources of energy, it is the focus of Nigeria to use its vast natural gas resources to tackle global warming and foster national development.
In his word: “As you are aware, we recently declared 2021 to 2030 ‘the Decade of Gas’ development in Nigeria after making laudable achievements and successes in 2020 ‘the Year of Gas’.
“This represents another formidable opportunity point post-COVID-19, for industry players to add significant value for sustained growth and development.
“Developing domestic gas utilisation will not only cushion the effects of deregulation of the downstream sector, but also stimulate economic growth.
“It will also improve Nigeria’s energy mix, drive investments and create enormous job opportunities for Nigerians.
“To this end, despite the global COVID-19 challenges, we have embarked on the most aggressive implementation of the nationwide gas infrastructure blueprint, constructing critically integrated gas pipeline system across the nation.
” We have commenced the construction of the major 614km Ajaokuta-Kaduna-Kano (AKK) gas pipeline project and have completed the Escravos-Lagos Pipeline System Phase-2 to boost industrial activities across the country.
“Also, in order to effectively develop our gas sector, we have proposed fiscal incentives that would attract investments in the Petroleum Industry Bill.
”We can assure you that these fiscal provisions will be one of the most attractive in Africa,” he said.