The Federal Government says it is working to make natural gas a major driver of industrial growth, job creation and economic development in Nigeria.
The Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, disclosed this at the first Petroleum Technology Development Fund Journal Summit, where he outlined the government’s plans under the Decade of Gas Initiative.
Ekpo said the initiative is designed to expand the use of Nigeria’s gas resources and support the development of a gas-powered industrial economy.
According to him, achieving the target will require significant investment in gas processing, transportation and distribution infrastructure, as well as industries built around liquefied petroleum gas, compressed natural gas and petrochemicals.
He said the government would need stronger partnerships with private investors, financial institutions and technology providers to raise the capital and expertise required to develop the sector.
Ekpo also said the government was working to create a more attractive environment for investment across the petroleum value chain. He noted that the Petroleum Industry Act had provided a framework for improving regulatory certainty and strengthening governance in the midstream and downstream sectors.
The minister said private-sector participation would be critical to unlocking the value of Nigeria’s gas reserves and expanding the sector.
Meanwhile, the Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, called for regulations that support both industry growth and employment.
Lokpobiri identified transportation and logistics as some of the challenges affecting the petroleum sector, noting that road transport, tank operations and product evacuation can increase costs and disrupt supply.
He also pointed to fluctuations in global oil prices, exchange rates and product prices as factors that create uncertainty for investors.
He said sustained cooperation between government agencies, regulators, investors, financial institutions, operators and academia would be necessary to address these challenges.
The Executive Secretary of PTDF, Shuaibu Shehu Aliyu, said the summit was organised to strengthen the organisation’s work in research, technology development and human-capital development.
He said the PTDF Journal provides a platform for researchers and industry professionals to share research, technical innovations and industry knowledge, while the summit creates an avenue for turning those ideas into practical solutions for Nigeria’s petroleum sector.
