Financial Energy Review
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), has stated its Commitment to Energy Transition with Sustainable Utilization of Gas. Adding that it is committed to exploitation of natural gas in Nigeria.
NMDPRA’s Chief Executive, Mr Farouk Ahmed stated this at a one-day stakeholders engagement on “Gas Utilisation in Nigeria yesterday in Lagos. He insisted that it has became important that companies and homes key into gas utilisation as alternative fossil fuel.
Ahmed, who was represented by Mr Ogbugo Ukoha, the Executive Director, Distribution, System, Storage and Retailing Infrastructure of NMDPRA, enjoined Nigerians to massively adopt the usage of gas as against diesel and petrol for their daily energy needs.
He said that this would reduce the nation’s carbon footprint, tackle global warming as well as climate change.
He added: “It will also help to reposition the economy for sustainable growth and accelerate job creation since gas is believed to be the future of the nation’s economy.”
Ahmed said that the essence of the engagement was to encourage large consumers of petroleum products to become aware of the comparative advantages between the different fuels, particularly gas, which he added had been designated as Nigeria’s transition fuel.
He explained that to promote gas usage and investment, the Federal Government had various initiatives and policy frameworks which included National Gas Expansion Programme and the Decade of Gas Programme.
He observed that the Petroleum Industry Act (PIA)2021 had also enabled investments in the industry.
Ahmed expressed satisfaction that the government effort was yielding significant results, but added that more collaborations were needed to improve domestic gas utilisation.
The NMDPRA boss reiterated that Nigeria was blessed with abundant gas reserve, enough to last the nation for the next 90 years.
According to him, effective gas utilisation will make the nation become richer and the environment safer because it is much cleaner than other petroleum derivatives.
He said another great benefit of gas utilisation was the tendency to reduce the cost of doing business by 40 per cent.
Ahmed called on heavy consumers of energy to convert their diesel generators to gas engines, saying that it was cost effective”.
He also advised consumers on the need to be properly licensed because of numerous benefits attached.
These, he noted, include ensuring safety of facilities and regular supplies of the product from the authority.
