29 June 2017, Sweetcrude, Abuja — The Nigerian Government, Wednesday, approved the new National Gas Policy that is aimed at improving the Nigeria’s gas fortunes and to boost the country’s revenues from the commodity.
Acting President Yemi Osinbajo, who was represented by the Minister of State for Petroleum Resources, Mr. Ibe Kachikwu, stated this at the 2017 National Conference of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) in Abuja.
Osinbajo said a memo on the gas policy was brought before the Federal Executive Council (FEC) and it was subsequently approved by the Council.
He said gas presented a new horizon of opportunities for the country, adding that unless the country can build the twin engine of earnings between petroleum and gas, it is not likely to see an improvement in its economy, or see opportunities that a lot of people are beginning to miss in terms of job opportunities in the oil sector.
He said, “What are the new horizons for opportunities? Gas, obviously, is item one. There is so much happening that needs to happen; that should have happened yesterday and must begin to happen now in the gas field.
“Gas is a future for this country. Whether it is an investment that you play in; whether it is supported in terms of staff retooling and retraining that you play, whether it is providing the infrastructure that you play in; gas is the place to be, and we need to begin to look at that.”
Osinbajo further stated that there was absolutely no reason why the country must not move from the decadence practice of explaining inefficiencies in the power sector to a new horizon where possibilities are grandiose.
He said he is committed to working with the power ministry and with every Nigerian to move the transformative journey in the power sector from one point to another, from the point of excuses to the point of absolute final delivery that would change the face of this country.