15 October 2013, Lagos – Participants at the recent First Bank of Nigeria Capital Project & Infrastructure Finance conference have stated the need for Nigeria to ensure it pursues a sustainable gas policy to drive exploration and generation of income from its huge gas reserves.
Speaking on the vast prospects gas offers the national economy, Senior Investment Officer, International Finance Corporation (IFC), Femi Akinrebiyo, said “Nigeria is sitting on a huge reserve of gas, which could be explored and sold to countries that need it.
According to Akinrebiyo, “Nigeria needs more gas companies to get this resource out to where they are needed, as it appears that only one or two companies are presently focusing on that aspect of the power sector.”
Other speakers at the event held that the ‘gas factor’ represents a huge opportunity to achieve the ongoing power reforms in the nation. Head, Corporate and Commercial Practice, Aluko and Oyebode, Kofo Dosekun, also urged investors to maximise the investment opportunities in the on-going reforms in the country’s infrastructure sector as there would be projects to invest in the short, medium and long term. “Infrastructure projects are here to stay”, she said, and according to her, factors have been put in place to ensure projects are successful.
Also speaking, Yode Delano of Akin Delano & Co noted that Nigeria is moving in a positive direction with the ongoing developments. “Our laws are becoming more investor friendly” he said, noting that the regulatory institutions have a major role to play, as infrastructural investment processes continue. “We are not yet in a safe haven, but we are getting closer. A bit more has to be done, mindsets need to be changed,” he added.
The conference was organised by FBN Capital to explore the role of project and credit risk assessment in unraveling the nation’s growth potential by highlighting considerations integral to project finance through a series of panel discussions.
The event brought together senior-level representatives, including regional financiers and lenders corporates and developers, multilateral, consultants and advisors, as well as government agencies.
– This Day