Gbajabiamila lauds Nigeria’s ambition of becoming fourth-largest producer of gas worldwide

The Speaker of the House of Representatives, Hon Femi Gbajabiamila, on Wednesday, expressed optimism in the country’s ambition of becoming the fourth-largest producer of gas in the world, from its current ninth position.

Hon Gbajabiamila who stated this while receiving a delegation of the Nigerian Liquified Natural Gas (NLNG) led by Mr Tony Attah, argued that the gas sector holds key potential for the Nigerian economy as the world looks outside the box from dependence on crude oil.

For this reason, he tasked experts in the gas sector on the need to partner government functionaries on the development of the sector to achieve optimum results, noting Nigeria needs to maximise its natural gas resource.

The Speaker stressed that the ongoing process of passing the Petroleum Industry Bill (PIB) had provided an opportunity for the experts to collaborate with the House to incorporate futuristic gas legislation that would be beneficial to Nigeria and Nigerians.

“Definitely, it’s now all about gas. Crude oil, as we know and which we all rely on, is not so infinite; its end is almost around the corner, and we don’t want to be caught unawares. We have to be prepared for that day.

“That is why I agreed on the issue of the PIB and why, from the ground floor, the gas sector needs to key in and lock in its role in the piece of legislation that would come out in PIB.

“This is very important because the PIB is going to be there for ages and this is the time we need to key in the gas sector in framing that piece of legislation together.

“With our proven reserve and potential that will propel us from the ninth largest producer in the world to the 4th, that’s a blessing we can’t overemphasize as gas touches on every aspect of the economy.

“We are on the same page with you on the need to unlock the potential for the good of Nigeria,” he said.

In a statement by his Special Adviser on Media and Publicity Lanre Lasisi, the Speaker was quoted as saying, “We look forward to sittings like this where we can collaborate and work together for one and one purpose only- to move this country forward and develop our economy, infrastructure and put this country on the line of economic growth.

Speaking earlier, NLNG Managing Director, Mr Tony Attah, said as a result of the ongoing works on PIB, it was necessary to inform the Speaker of Nigeria’s 200 tcf reserved proven and another 600 tcf potential that needed to be proven.

According to him, combining the proven and potential (800tcf) would place Nigeria in a vantage position of being number 4 from the ninth world largest producer of gas.

“Being number 4 is a game-changer that will continue to help Nigeria well into the future, irrespective of the energy transition and changing energy needs.

“We believe that the PIB is a major opportunity, and before it’s signed, we thought we would bring this to your attention,” he added.

YOU SHOULD NOT MISS THESE HEADLINES FROM NIGERIAN TRIBUNE

Nigeria Recorded 1,114 COVID-19 Infections Last Week, Lowest In Four Months

In the past two weeks, Nigeria recorded 3,414 new COVID-19 infections, which is the lowest the country has recorded since the beginning of the second wave of the pandemic in December.

In the penultimate week, (March 7 – 13), there were 2,300 cases, a reduction when compared to the 2,817 recorded in the previous week’s (February 28 – March 6)…Gbajabiamila lauds Nigeria’s ambition of becoming fourth-largest producer of gas worldwide

Gbajabiamila lauds Nigeria’s ambition of becoming fourth-largest producer of gas worldwide