The Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, has mentioned that the surest path to nationwide prosperity is the utilisation of Nigeria’s fuel sources by the Federal Government.
Ekpo made this assertion on Wednesday throughout his go to to the board and amenities of the Nigerian Content Development and Monitoring Board in Yenagoa.
Ekpo, co-chair of the governing council, famous that Nigeria is endowed with huge pure fuel sources, with roughly 209 trillion cubic toes of confirmed fuel reserves.
He careworn the necessity to harness these sources successfully to drive financial improvement.
He highlighted President Bola Ahmed Tinubu’s assist for the fuel sector, with initiatives extending to your entire worth chain, together with fuel improvement, distribution, and penetration. According to Ekpo, these initiatives are geared toward decreasing the price of dwelling and transportation, and positively impacting each a part of the nation.
Ekpo outlined key initiatives his ministry is pursuing, together with “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 acknowledged.
Ekpo additionally talked about that since 60% of NCDMB’s investments are gas-based, he suggested that new initiatives by the company ought to give attention to Compressed Natural Gas as a result of its direct affect on transportation and the price of dwelling.
He recommended NCDMB for its exceptional progress in selling native content material and for establishing the spectacular 17-storey headquarters constructing, which signifies the expansion and depth of native capability.
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