Nigeria is currently going through a full-blown energy crisis, and could experience this for a long time if it fails to articulate a sound policy framework that focuses intensely on its gas sector, the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, said yesterday.

Kachikwu, in his ministerial address at the 11th edition of the international conference and exhibition organised by the Nigerian Gas Association (NGA) in Abuja, explained the country’s continued dependence on oil alone to run her economy was hurting the country and it would need to quickly refocus attention on her abundant gas resources.

Though represented by his Senior Technical Adviser on Upstream and Gas, Mr. Gbite Adeniji, the minister’s disclosure came at a time the Nigerian National Petroleum Corporation (NNPC) stated that the country’s plan to build a transnational gas pipeline with Morocco was gaining momentum with plans to sign the Front End Engineering Design (FEED) contract for the project soon.

The minister explained that Nigeria no longer enjoys priority attention from oil and gas investors, adding that southern and eastern African countries now compete especially for investment in Liquefied Natural Gas (LNG) with Nigeria.

“Secondly, there is a much more constrained international environment with the mounting new LNG suppliers coming on stream globally, and Nigeria is competing for investment with southern and eastern Africa.

“Prices of oil are forecast to fall after 2030, and stay low for a long period after that with a possibility of absolute fall in demand for oil and a related impact on price of gas,” the minister noted.

Kachikwu stated that there were also domestic challenges the country has to clear to develop its gas industry and overcome the energy crisis it is going through.

According to him, “Then, there is the challenging domestic environment with security of supply risks; the sector governance and business environment issues. We could add more to these headwinds based on the recent reports of the Nigerian Bureau of Statistics (NBS), the World Bank and IMF which have made it their business to track our micro economics.

“Based on these headwinds, Nigeria has a challenging future and must therefore broaden its economy beyond oil hence the thrust of the gas policy is that we need to refocus our economy using the comparative advantage of our gas towards achieving gas-based industrialisation.”

In his remarks, the Group Managing Director of the NNPC, Dr. Maikanti Baru, explained that a feasibility study for the Nigeria and Morocco transnational gas line has been done, thus paving the way for the project’s FEED contract to be signed.

Baru said: “In June 2018, Nigeria signed a Memorandum of Understanding (MoU) with the Kingdom of Morocco on a regional gas pipeline that will supply gas to most of West African countries and extend it all the way to Morocco and Europe. The feasibility study has been completed and we are about to commence the optimisation of the study outcomes which would be followed closely with the FEED.”

He added that the challenges of the country’s power sector has continued to ensure that up to 500 metric million standard cubic feet per day (mmscfd) of gas meant to generate about 2,000 megawatts (MW) of electricity is shut in.

In his opening remarks at the conference, the President of NGA, Mr. Dada Thomas, said Nigeria could be better served with a regional and not just a national gas development plan, with countries around the West African region tapping from gas lines and volumes from the country.


https://www.thisdaylive.com/index.php/2018/10/16/kachikwu-nigeria-currently-in-full-blown-energy-crisis/amp/

blackpanda:



So they met a carcass in 1999 which they didn't fix for 16yrs But u want buhari to fix same in 3yrs
Please go for brain check ok

Iammercy2018:
we? Lmfao Oga atikulate speak for yourself

Earthquake1:


Who do you think is the minister of petroleum?

You can't be clueless in the sports thread and clueless here as well

millhouse:
The telecoms and IT inroad into the country was done by a govt , the opportunity of being able to do business and banking transactions on the go was done by a govt , the institutions-to checkmate corruption and the TSA was put there by a govt , but I know you know little about these things and how a govt is being scored so please don't use limited knowledge to defend ur political inclination.

Princedapace:



Just one year is enough to fix issus like this by a serious leader..


Guy, forget sentiment, Buhari no qualify to be a leader..

rusher14:
Can you read at all?

The thrust of Kachikwu's statement is that oil is becoming less attractive whilst LNG is becoming more commonplace.

Nigeria must formulate a policy framework to best position the country as the number 1 player in Africa or face extinction.

Fizzymike1:


I lack words to decribe your low self failure not to even talk about your blind mentality. Buhari again? God forbid

mushystuff:


Buhari supposedly came to address three main issues: Security, Corruption and the Economy. What exactly are he and his 'economic team; waiting for before they know they ought to work towards diversifying the economy away from oil and formulate that policy framework you refer to? Shebi the daura oaf with his able assistant started prospecting for more oil in barren northern lands instead of working with what we already have? How much was expended on that failed, wasteful venture? What has become of solid minerals?

rusher14:


And if he doesn't what stopped others before him?

toolovely:


can you listen to yourself?
he met a shit of pump fuel price at 89 naira, a bag of rice at 7.5/8k, naira to dollar rate at 164 and the only way to fix the poo is to double all the things he met on ground? you sound like an empty barrel.

worsening a situation you met means you don't have the capacity to do the job. you should improve on what you met on ground and not to worsen it.

chernest2002:
have your name become we ?

forgiveness:
He is a PDP stooge and apologist.

Why is he there in the first place if bubu can do it by himself?

Is it not to formulate policies? My friend keep shut and do your work instead of using the government to cover your ineptness? Sai Buhari!

Iammercy2018:
how can one person become WE?

blackpanda:


Stupidity is wen u expect a person that has stayed for 3years to fix the shit of someone that was there for 8!

blackpanda:



Makes no sense

chernest2002:
you are not among we.

rusher14:


So in your mind it takes 4 years to solve an energy crisis, which has layers and layers of mismatch and sabotage from decades past?

rusher14:
Can you read at all?

The thrust of Kachikwu's statement is that oil is becoming less attractive whilst LNG is becoming more commonplace.

Nigeria must formulate a policy framework to best position the country as the number 1 player in Africa or face extinction.

rusher14:


And if he doesn't what stopped others before him?

Iammercy2018:
so speak for yourself oga

SeriouslySense:
Energy crisis means a higher price of energy, and utilizing more gas could cure the energy crisis so that the prices come down and the gas sector should be opened to all Nigerian investors, in addition, exportation of gas to other African countries can become more flexible, with adequate regulations on safety.

blackpanda:
[s][/s]

What is this one saying

Realname:
Buhari is so incompetent he makes GEJ look smart

Wow

After 3 years he couldn't do one single thing

Power supply is so bad everywhere

Please let's all kick this useless cow whisperer back to daura

chernest2002:
what is your problem this morning? I said you are not part of we,I know who you are a zo....