Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, has assured investors and stakeholders in the gas sector of a conducive regulatory framework aimed at incentivizing investments and streamlining bureaucratic processes.
Speaking at a colloquium organized by Babalakin @ Co in Abuja, Ekpo highlighted the Petroleum Industry Act (PIA) and recent Presidential Directives on tax incentives as pivotal reforms fostering transparency, accountability, and regulatory certainty in Nigeria’s gas sector.
Ekpo emphasized the President Bola Tinubu-led federal government’s commitment to creating an enabling environment for investment in the gas sector.
He underscored Nigeria’s significant reserves of natural gas as a key resource for unlocking economic growth, industrialization, and sustainable development.
While acknowledging the pivotal moment in Nigeria’s energy landscape, Ekpo stressed the need for ”concerted efforts and innovative strategies from both the public and private sectors to fully realize the potential of the country’s gas resources.”
He described promoting investments in the gas sector as not just an economic imperative ”but also a commitment to utilizing natural resources for the prosperity of current and future generations.”
Ekpo called for ”bold strategies, collaboration, and adherence to excellence standards to unleash the transformative power of gas, fostering inclusive growth, and job creation, and propelling Nigeria towards a brighter and more sustainable future.”
The minister had earlier reiterated the necessity of gas infrastructure development for economic stimulation and diversification in Nigeria.
In a sectoral retreat on ministerial deliverables held in Abuja recently, Ekpo called to attention the pivotal role of expanding Nigeria’s gas infrastructure network in attracting investment and unlocking new opportunities for economic growth and diversification.
Given its abundant natural resources, he stressed that Nigeria should be able to handle energy poverty.
