Petroleum producers seek FG’s intervention in gas pricing, flaring penalty, legacy debt, others

Independent Petroleum Producers Group (IPPG) is seeking the Federal Government’s intervention to resolve issues around key areas like gas pricing, gas flare penalty, legacy debt, gas infrastructure, gas supply receivables, and LPG availability to encourage upstream investment and move the sector forward, among others.

The Chairman of the group, Abdulrazaq Isa, made this appeal during a high-powered delegation from the IPPG to the Minister of State Petroleum Resources (Gas), Rt. Hon. Ekperikpe Ekpo, in Abuja.

IPPG Chairman, thanked President Bola Tinubu for appointing members of the group into key positions in NNPC Ltd and OPEC and also commended Ekpo for the strides achieved so far in the gas sector.

The chairman was accompanied by other IPPG members, including Dada Thomas (Frontier CEO), Gbite Falade (Aradel CEO), Lanre Kalejaiye (ND Western CEO), Dapo Filani (Waltersmith Petroman CEO), Trost Amos (Renaissance Africa), Chikaodili Okoye (Seplat), James Makinde (Seplat), Sunday Okunbor (ND Western), Nkiruka Ajah (Waltersmith), and Oyeleke Banmeke (IPPG Secretariat).

Responding, Ekpo lauded IPPG for the important role they play in the gas value chain, noting that as indigenous investors, they not only create jobs in the country but also plough their profits back into the economy to support the nation and President Bola Ahmed Tinubu’s Renewed Hope agenda in repositioning the energy sector for sustainable development.

The minister pledged the Federal Government’s support in resolving the challenges affecting the group’s operations and called for enhanced collaboration between the group, government, and regulatory agencies to foster growth and development.

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