The state’s Minister of Petroleum Resources, Timipre Sylva, has stressed Nigeria’s willingness to use gas to help fast-track the country’s industrialization agenda. Speaking during a dinner with the diplomatic community in Abuja, Tuesday night, Sylva noted that gas is the only energy source that can help Nigeria diversify the economy. According to a statement by the Minister’s Senior Information and Communication Adviser, Horathios Egwa, which was made available to reporters, Sylva also noted that gas is Nigeria’s sure way to bridge its energy gap.
Nigeria has proven gas reserves of 206 trillion cubic feet with a potential rise of 600 trillion cubic feet. “The answer is not far-fetched: Energy is the primary resource for national, social, and economic development and must be secured at all times,” Silva said. “As a result of its increasing impact on national security and the economy, the need to protect energy and ensure its availability, reliability and affordability has made energy diplomacy an essential part of cooperation external to each country. It is important to emphasize that the vehicle of choice for Nigeria in its energy transition journey is natural gas. Much has been done to harness this enormous potential to provide the necessary energy for our growing population in terms of power generation, transportation, raw materials for industries, and clean cooking solutions. In order to reap the benefits of gas resources, the authorities have deepened the use of natural gas under the National Gas Expansion Program (NGEP),” Sylva said.
The minister praised the passage of the Petroleum Industry Law 2021, saying that it “changes the rules of the game for the oil and gas sector.”