The Minister of State for Petroleum Resource, Timipre Sylva recently revealed this to the press, and Nigerians have been reacting.
According to him, the plan is necessary because the world is transitioning to a cleaner sources of energy, and Nigeria can use its vast natural gas resources to help battle global warming and aid national development.
He added that it also stands for another brilliant opportunity point post-COVID-19, for industry players to add significant value for sustained growth and development.
His words, “As you are aware, we recently declared 2021 to 2030 ‘the Decade of Gas’ development in Nigeria after making laudable achievements and successes in 2020 ‘the Year of Gas’.”
“This represents another formidable opportunity point post-COVID-19, for industry players to add significant value for sustained growth and development.”
“Developing domestic gas utilisation will not only cushion the effects of deregulation of the downstream sector, but also stimulate economic growth.”
“It will also improve Nigeria’s energy mix, drive investments and create enormous job opportunities for Nigerians.”
“To this end, despite the global COVID-19 challenges, we have embarked on the most aggressive implementation of the nationwide gas infrastructure blueprint, constructing critically integrated gas pipeline system across the nation.”
“We have commenced the construction of the major 614km Ajaokuta-Kaduna-Kano (AKK) gas pipeline project and have completed the Escravos-Lagos Pipeline System Phase-2 to boost industrial activities across the country.”
“Also, in order to effectively develop our gas sector, we have proposed fiscal incentives that would attract investments in the Petroleum Industry Bill.”
”We can assure you that these fiscal provisions will be one of the most attractive in Africa.”
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