• FG to sign FEED contract for transnational pipeline with Morocco

Chineme Okafor in Abuja

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/

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

Ok

We don't need a soothsayer to tell us....its all glaring in our face but some useless idiots still support this incompetent uneducated Fulani old man who doesn't know the mechanics of the economy.

A man who made himself the petroleum minister just because he's too stupidly filled with hate of Southerners.

This religious and ethnic bigoted man still wants another four years so that he would plunge this nation deeper into economic and social destruction that will take decades if not century to correct.

Even the minister said it in de 1st paragraph ... if it fails to "ATIKULATE" a sound policy framework that focuses intensely on its gas sector, the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, said yesterday....what else are we saying, let's all join hands to ATIKULATE our great nation again... #BACKTODAURA is a goal

Really? I thought the economy was now fully diversified courtesy of Bubu's body language?

The economy of Nigeria needs Atikulation

Just yesterday I had first hand information about the energy crisis in the country. I got to know that the whole talk about wasted $16billion on the power sector was propaganda meant to tanish the image of certain political figures and a party in the eyes of uninformed Nigerians.

The CBN,Accountant General and the final National Assembly's reports showed that something in the neighbourhood of $2b was spent, not $16b. The whole story about stolen $16b was political ruse .

Nigerian politicians are selfish,greedy and wicked. Why deceive Nigerians this way?

APC actually came to destroy Nigeria. It is a congregation of people bereft of ideas, failures and impiousness. It is ruled by men and women who are clanish, morally debased and imprudent.

There is an emergency before us: to haul this PMB's party off the life of Nigerians come the general 2019 elections.

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

Rather it is the greedy thief atikulooter that will be disgraced in 2019!

Look at them, all they know how to do is to talk, talk and talk yet no action! A government so confused and bereft of ideas to the extent of playing opposition to itself!!
All of you ought to be paraded and shot at close range!!!

nero2face:
Even the minister said it in de 1st paragraph ... if it fails to "ATIKULATE" a sound policy framework that focuses intensely on its gas sector, the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, said yesterday....what else are we saying, let's all join hands to ATIKULATE our great nation again... #BACKTODAURA is a goal

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

nero2face:
Even the minister said it in de 1st paragraph ... if it fails to "ATIKULATE" a sound policy framework that focuses intensely on its gas sector, the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, said yesterday....what else are we saying, let's all join hands to ATIKULATE our great nation again... #BACKTODAURA is a goal

so u saw what i saw? the minister is already talking about atikulating...


its over for buhari

Mr integrity have diversify our economy into his family pockets. We must atikulate to change Nigeria.

nero2face:
Even the minister said it in de 1st paragraph ... if it fails to "ATIKULATE" a sound policy framework that focuses intensely on its gas sector, the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, said yesterday....what else are we saying, let's all join hands to ATIKULATE our great nation again... #BACKTODAURA is a goal

Dr. Ibe Kachikwu has been atikulated no doubt.

What do you expect?
Buhari is not only as president of the country, but also the substantive minister of petroleum?

Who would you rather put in charge of your business? A man who has proven records of creating chains of multiple businesses, or one that has 150 barren cows that blames others for his lack of foresight and chains of failures?

Anything Buhari touches, he destroys.
This is why every patriotic Nigerian must Atikulate to rescue this country from further destruction by the lifeless incompetent.

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.

[s]

blackpanda:


Rather it is the greedy thief atikulooter that will be disgraced in 2019!

[/s]

Shut up

Anybody expecting Buhari to be sensible enough to understand the energy / gas crises has a hole in the brain.

He hardly knows anything

blackpanda:


Rather it is the greedy thief atikulooter that will be disgraced in 2019!

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.

and do you think the Minister of petroleum Buhari himself understands what you have just said ?

I no just understand this govt, they have never gotten anything right. Half step forward 990 steps backward. All the mouth they made concerning fixing the refineries and ending fuel subsidy after increasing price 3 times. Imagine old sterile buhari doubling as the president and minister of petroleum at the same time.

God forbid bad thing

millhouse:
and do you think the Minister of petroleum Buhari himself understands what you have just said ?

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

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!

blackpanda:


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

you are beginning to sound like a broken record ..post Democracy 1999when the obasanjo/atiku administration came on board they met a carcass left by th military regime , they didn’t whine and cry like this APC govt but hit the ground running ... but here we have a supposed military general leading the country and all he has done for 3 years is blame and cry while he folds his hands doing nothing , every govt in the world comes onboard to solve problems , if there are no problems you wouldn’t need to be there ... no wonder he was overthrown in a bloodless coup .. the guy is so bereft of ideas .

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.

Let me commend you for reading the whole post. Most on Nairaland don't. They see the topic n start reacting like chemicals.

kachuckwu will handle the petroleum ministry when Atiku is sworn in

blackpanda:


Rather it is the greedy thief atikulooter that will be disgraced in 2019!

Why is your tongue vibrating, talk with confidence. All my existence i have never seen a President and govt so useless like we have now. Imagine a dead man doubles as the president and minister of petroleum, why won't we be this backward. When Atiku becomes the president, you will marvel at the kind of corruption and looting that would be disclosed. Buhari should just DIE lets have peace

I thought the lifeless dullard is the minister of petroleum What's his duty there abeg?

Buhari is a disaster to our economy.

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

OK