The Federal Government yesterday revealed that its plot to crash petrol consumption volume in tune with global fuel transition was unavoidable.

The Group Managing Director of NNPC, Mallam Mele Kyari, who made this submission at the Decade of Gas Pre-summit Conference, held yesterday in Abuja, with the theme: ‘Towards Gas-Powered Economy by 2030,’ maintained that under the circumstances, natural gas and, by extension blue hydrogen, would be heavily depended upon as transition fuels to play a key role in the clean energy drive.

“They would also provide significant proportion of the global energy mix as well as guarantee feedstock to gas-based industries,” he said. Kyari disclosed this just as President Muhammadu Buhari said gas would uplift Nigeria’s economy as well as drive industrialization.

The NNPC boss affirmed Nigeria’s preparedness to play a strategic role in the new global energy order as the world transits to cleaner energy. In his welcome address at the event,

Mallam Kyari stated that technology and innovation were facilitating a new global energy order aimed at decarbonizing the world and safeguarding the climate, stressing that renewable energy sources such as solar and wind, which would be key components of the new energy mix, were largely influenced by seasons and were non-transportable to demand centres where they are in short supply.

“Nigeria, under the visionary leadership of President Muhammadu Buhari, has committed huge resources to ensure that domestic gas infrastructure reach every corner of our country to deepen natural gas utilization, spur investment in power and gas-based industries, grow the economy and generate employment for millions of our young people,”

Mallam Kyari informed. According to him, Nigeria as a gas nation with over 203trillion standard cubic feet (tscf) of proven gas reserves is monetizing the huge gas resources spurred by numerous policy and industry interventions since 2016, culminating in the declaration of 2020 as the year of gas and progressing into the decade of gas from 2021.

He stated that NNPC and its partners have embarked on a number of strategic projects to deepen delivery of gas to the domestic market and elevate the build-up of greater potentials for export.

“The completion of the Escravos-Lagos Pipeline System Phase 2 (ELPS II), commissioning of the Obiafu- Obrikom-Oben (OB3) Lot 2, the NPDC Oredo Gas Handling Facility, and the SEEPCO Gas Processing Plant can be easily cited, even without mentioning ongoing strategic backbone gas infrastructure projects such as the Ajaokuta-Kaduna- Kano (AKK) pipeline, the OB3 final hook-up, the Nigeria-Morroco pipeline and several other gas-based industries initiatives. All these will herald the sunrise of gas revolution in our country within the decade,” the GMD stated.

He noted that as part of the journey to make the Decade of Gas a reality, the Federal Government has also rolled out the Autogas initiative to provide alternative cleaner and cheaper transportation fuel to petrol, adding that the initiative has received huge support from the entire energy industry and gained tremendous traction. He lauded President Muhammadu Buhari for his strategic foresight, leadership and support for the oil and gas industry, saying that the various strategic initiatives were geared towards transforming the Nigeria’s energy landscape.

Meanwhile, President Buhari said the country’s dedicated focus on gas would uplift the economy, drive industrialisation and provide massive job opportunities for the citizenry.

He made this known yesterday in Abuja while launching January 1, 2021, to December 30, 2030 as the ‘Decade for Gas Development for Nigeria,’ sponsored by the Nigeria LNG (NLNG) with the theme, ‘Towards a Gas-Powered Economy by 2030.’

Buhari, who described Nigeria as a nation of gas with little oil, pledged the utilisation of the enormous gas resources and its potentials, to stimulate economic growth, further improve the country’s energy mix, drive investment and provide the much needed jobs.

To this end, the president said the country was committed to developing gas infrastructure, promoting domestic utilisation of LPG and CNG, commencing the process of commercialising gas flares, development of pedestrian and transport gas market and increasing gas power.

He said: “Gas is an enormous potential to diversify and uplift Nigeria’s econ omy, given the country’s potential of about 600 trillion cubic feet of gas and the rising global demand for cleaner energy sources has offered Nigeria an opportunity to exploit gas resources for the good of the country.

We intend to seize this opportunity. “This has led the Federal Government to begin a more proactive push towards gas development. This initiative will ensure further optimal exploitation and utilisation of current gas resources.

“Before the declaration of Year 2020 as The Year of Gas, this Administration had shown commitment to the development of Nigeria’s vast gas resources and strengthening of the gas value chain by reviewing and gazetting policies and regulations to enhance operations in the sector as encapsulated in the National Gas Policy of 2017. ‘‘Our major objective for the gas sector is to transform Nigeria into an industrialized nation with gas playing a major role and we demonstrated this through enhanced accelerated gas revolution.”

Enumerating achievements of his administration, he said, ‘‘We also kick-started other policies and projects like the National Gas Expansion Programme, Autogas policy and the construction of the 614km Ajaokuta-Kaduna- Kano gas pipeline.

‘‘After a thorough review of these laudable achievements and successes in the gas space, we acknowledge that Nigeria still has more work to do in the gas space. ‘‘This has led the Federal Government to begin a more proactive push towards gas development. This initiative will ensure further optimal exploitation and utilization of the country’s vast gas resources.”

President Buhari, who further described the NLNG as the Federal Government’s arrowhead in the reduction of gas flaring in Nigeria, said the NLNG, which contributes about one percent to the nation’s GDP, has generated $114 billion in revenues over the years, $9 billion in taxes, $18 billion in dividends to the Federal Government and $15 billion in Feed Gas Purchase.

According to him, these achievements were accomplished with 100 percent Nigerian Management and 95 percent Nigerian workforce. Earlier, Minister of State for Petroleum Resources, Timipre Sylva, said exploring the vast natural gas resources domiciled in the country would put Nigeria in the league of top industrialized nations over the next decade.

“Nigeria’s gas reserves, with proven 203TCF and potential 600TCF, are the most extensive in Africa and in the top 10 globally.”

Sylva, who decried chronic shortage in domestic utilization of gas to power the economy, including the gap between electricity supply and demand, said a roadmap was much needed to change the narrative by removing Nigerians from energy poverty over the next decade.

“It is no longer acceptable that despite the country’s vast natural resources, the gap between electricity supply and demand is huge, access unreliable, and cost expensive. We must deal with the energy poverty in this country.

We must find a way to unlock the natural gas potential of this great nation and drag over 120 million of our people out of energy poverty.”

koladebrainiac:
lol

thebosstrevor1:
Where are the wailing wailers bridage.

Form a formation, from the tallest to the shortest.

It is now time for you to complain.

AfonjaConehead:


Just humble yourself and call for someone to summarise the topic for you, since it's obvious you didn't read.