President Buhari
President Mohammadu Buhari on Thursday, said Oil and Gas remain the key driver of Nigeria’s infrastructural and economic development.
This was even as he stressed that crude oil will remain prominent in the global energy mix in the medium and long term, despite the quest for diversification to a non-oil economy.
Buhari stated this in his welcome address at the 6th Triennial National Delegates’ Conference of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) themed; “The Future of Work Post Pandemic and Energy Transition,” in Abuja.
The President who spoke through the Minister of State, Petroleum Resources, Timipre Sylva said Oil and Gas is the major contributor of foreign exchange earnings to the Nigerian Government, accounting for around 10% of the country’s Gross Domestic Product (GDP), and providing massive employment opportunities for the teeming population.
He said the significance of the Oil and Gas industry as an enabler of national growth and development, led to the Strategic Priorities for the Ministry of Petroleum Resources with a view to stimulating the sector in order to foster the sustainability of the Nigerian economy, create well-paid jobs and take millions of Nigerians out of poverty.
He noted that Nigeria has earned its pride of place in the comity of Oil and Gas nations, standing at 10th and 9th positions in global Oil and Gas reserves respectively.
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“Our collaboration will focus on gas to transmute Nigeria from the conventional dependence on white products for prime movers to a cleaner, more available, accessible, acceptable and affordable energy use in gas. This will cushion the effects of deregulation and create enormous job opportunities for Nigerians,” he noted.
He added that while revamping the existing refineries, Greenfield and development of modular refineries are springing up.
In his address the President of PENGASSAN, Comrade Ndukaku Ohaeri called on the National Assembly to address the impediments to passage of the Petroleum Industry Bill (PIB).
He noted that non – passage of the PIB has denied Nigeria benefits that could have accrued to it from the hydrocarbon Industry.
Also emphasized the need for the Federal Government to revive the nation’s refineries and create the enabling environment for investment in the refining business sector to thrive.
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