Ekperikpe Ekpo, Minister of State for Petroleum Resources (Gas), has underscored the necessity of gas infrastructure development for economic stimulation and diversification.
In a sectoral retreat on ministerial deliverables held in Abuja on Tuesday, Ekpo highlighted the pivotal role of expanding Nigeria’s gas infrastructure network in attracting investment and unlocking new opportunities for economic growth and diversification.
Addressing the gathering, Mr Ekpo emphasized Nigeria’s significant gas reserves, totalling over 208 trillion cubic feet (Tcf).
Given its abundant natural resources, he stressed that the nation should be able to handle energy poverty. He also emphasized the need for collective action to confront challenges and capitalize on opportunities in the energy sector.
President Bola Tinubu’s issuance of Presidential Priorities and Ministerial Deliverables for 2023 – 2027, aiming to establish a performance-tracking mechanism, was hailed by Ekpo.
He highlighted the importance of collaboration and cooperation in addressing evolving market dynamics and advancing sustainable development goals.
Ekpo noted that gas emerged as a vital transition fuel in Nigeria’s energy evolution, citing its potential to bridge the gap between traditional fossil fuels and renewable energy sources.
”Gas, characterized as the “cleanest” fossil fuel, offers several advantages, including lower greenhouse gas emissions than coal and oil,” the minister said.
He emphasized the adaptability of gas-fired power plants, positioning them as dependable backups for intermittent renewable energy sources like solar and wind power.
To fully realize gas’s potential, Ekpo stressed the importance of prioritizing infrastructure development across the gas value chain, including pipelines, liquefied natural gas (LNG) facilities, and gas processing plants.
”Expanding Nigeria’s gas infrastructure network would enhance access to gas markets, attract investment, and spur economic growth and diversification,” Ekpo affirmed.
In his address, Minister of State Petroleum Resources (Oil), Heineken Lokpobiri, emphasized Nigeria’s petroleum sector’s critical role in addressing the country’s short-term challenges.
He outlined efforts to ramp up production, tackle insecurity, and create an enabling environment for investment across the upstream, midstream, and downstream sectors.
