Ekperikpe Ekpo, the Minister of State for Petroleum Resources (Gas), has announced that proper usage of Nigeria’s gas resources by the Federal Government is the right direction to national prosperity.
This statement was made on Wednesday during the Minister’s visit to the board and facilities of the Nigerian Content Development and Monitoring Board based in Yenagoa.
Ekpo, co-chair of the governing council, recognized that Nigeria is enriched with vast natural gas resources, with approximately 209 trillion cubic feet of verified gas reserves. He emphasized the need to put together these resources effectively to drive economic development.
According to Ekpo, President Bola Ahmed Tinubu’s support for the gas sector, with initiatives extending to the entire value chain, including gas development, distribution, and penetration, is aimed at lowering the cost of living and transportation, and positively impacting every part of the country.
Ekpo outlined key initiatives his ministry is pursuing, including “investments in critical gas infrastructure to support the transportation and distribution of natural gas across the country, promotion of domestic gas utilisation for power generation, industrial applications, and transportation, as well as strengthening the capacity of NCDMB to build capacity and enforce local content policies.”
“Other notable initiatives include encouraging and supporting gas-to-power projects to ensure a reliable and sustainable supply of electricity, expanding Nigeria’s capacity to export liquefied natural gas to international markets to generate revenue and position Nigeria as a key player in the global gas market, and strengthening policy and regulatory frameworks governing the sector to create an enabling environment for investment and innovation,” he stated.
Ekpo advised that new projects by the agency should pay attention to Compressed Natural Gas owing to its direct impact on transportation and the cost of living, as 60% of NCDMB’s investments are gas-based.
He applauded NCDMB for its notable progress in promoting local content and also for erecting the grand 17-storey headquarters building, which is evidence of the growth and depth of local capacity.
This article was written by Tamaraebiju Jide, a student at Elizade University
