Lagos — The Petroleum and Natural Gas Senior Staff Association of Nigeria, PENGASSAN, says the nation’s gas sector has the potential to create thousands of jobs, solve domestic gas need, achieve increased revenue for the government and boost the economy.
The association stated this as it called on the Federal Government to speed up the pace of development of the gas sector.
President of the association, Comrade Festus Osifo, made the call in an address he presented at the National Executive Council, NEC, meeting of the association in Imo State.
“Nigeria’s gas reserves currently estimated at 182 TCF (trillion cubic feet) with a projected growth rate of over 70% by 2025 have the potential of being a key player in the emerging global natural gas market in the world. Sadly, even with this huge gas reserve, not much has been achieved in areas of effective exploitation and utilisation for both commercial and domestic purposes.
“With electric power generation at its lowest ebb, army of unemployed youths, climate change caused by greenhouse emissions from flare-out, it becomes imperative that we must exploit the gas reserves now and use it to tackle some of the listed challenges.
“While we commend the government in its efforts in boosting gas utilization through various gas initiatives and projects, it is pertinent that we hasten the pace of work as the sector has the huge potential to create thousands of jobs, solve our domestic gas needs while increasing revenue for improvement of our economy,” he said.
Regarding the Petroleum Industry Bill, PIB, the association in partnership with the Nigeria Union of Petroleum and Natural Gas Workers, NUPENG, canvassed for a Bill that will attract more investment to the oil and gas sector and lay more emphasis on local content.
This, they said, will in-turn create more job opportunities for its members and Nigerians in general.