The Vice President Yemi Osinbajo, on Tuesday in Abuja, wooed investors to invest in Nigeria\u2019s gas industry.<\/p>\n\n\n\n
Osinbajo spoke at the opening ceremony of a two-day Domestic Gas Summit 2022 holding at the Abuja Chamber of Commerce and Industry (ACCI).<\/p>\n\n\n\n
The summit with the theme, \u201cBuilding a Sustainable Gas Economy\u201d, was initiated by the Energy Trade Group of ACCI.<\/p>\n\n\n\n
Represented by Amb. Adeyemi Adebolu, Special Adviser on Economic Matters, Office of the Vice President, Osinbajo urged investors to cease opportunities that exist in Nigeria gas sector.<\/p>\n\n\n\n
According to the Vice President, the development of oil and gas resources is critical to Nigeria\u2019s economic growth and revenue expansion as priority places on the transit from fossil fuel to gas.<\/p>\n\n\n\n
\u201cGovernment has adopted policies and passed legislation to increase the production and use of natural gas as a means of powering economic development.<\/p>\n\n\n\n
\u201cMost recently, the petroleum industry has provided clear terms and conditions for investment in the various aspects of gas development.<\/p>\n\n\n\n
\u201cThe private sector and members of the chamber can now take advantage of the new laws and opportunities by rolling out investment in vast Infrastructure at this very time.<\/p>\n\n\n\n
\u201cIt will not only ensure energy stability but also provide the need of various sectors of the income including transportation and agriculture as well as manufacturing,\u2019\u2019 Osinbajo said.<\/p>\n\n\n\n
He said that the opportunities in gas industry were limitless.<\/p>\n\n\n\n
\u201cIndeed the opportunities abound around things like cylinder, oil injections, auto gas, conversion of petrol and diesel, gas engines for transportation and logistics, gas for power and property liaison for steel and other productive uses.<\/p>\n\n\n\n
\u201cInvest in the sector through the various opportunities that exists.<\/p>\n\n\n\n
\u201cGovernment will continue to work hard to improve business environment, attack constraints and resolve concerns,\u201d he added.<\/p>\n\n\n\n
The Minister of Industry, Trade and Investment Otunba Adeniyi Adebayo, pledged that Federal Government would continue to encourage the utilisation of gas through the national gas expansion programme and the natural liquefied gas implementation plan.<\/p>\n\n\n\n
While highlighting high gas pricing, foreign exchange fluctuation and inadequate gas transportation infrastructure as major challenges affecting the gas sector, Adebayo said they would be addressed by the new Petroleum Industry Bill 2021.<\/p>\n\n\n\n
He added that the Federal Government would continue to provide the needed infrastructure to ensure that gas contributed more to the development of the economy by creating jobs, drive foreign investments and improve Nigeria\u2019s energy mix.<\/p>\n\n\n\n
On his part, the President of ACCI, Dr Al-Mujtaba Abubakar, described gas as an important area of focus that must be given attention by stakeholders across the various government and business spectrum.<\/p>\n\n\n\n
Represented by Prof. Adesoji Adesugba, 2nd Deputy President of ACCI, Al-Mujtaba said that gas had been identified as the energy of choice across board because it is cleaner, greener and safer.<\/p>\n\n\n\n
According to him, within the context to save the planet movement, countries in Africa are working to device appropriate responses to explore gas as the alternative to energy.<\/p>\n\n\n\n
\u201cThe debate is on as to what energy transition should mean for the peculiarities of each country.<\/p>\n\n\n\n
\u201cFor Nigeria, the fossil fuel question stirs us in the face.<\/p>\n\n\n\n
\u201cEven though Nigeria is not a major contributor to global emission, the country, as a responsible member of the international community has its commitment to keep.<\/p>\n\n\n\n
\u201cThe need to diversify and consider gas above all becomes necessary due to its benefits economically, domestically and otherwise.<\/p>\n\n\n\n
\u201cThe carbon reduction pledge made under the Paris agreement must be complied with.<\/p>\n\n\n\n
\u201cUnlike other countries without sustainable alternatives, Nigeria has an option and that is gas, a cleaner, green energy source,\u2019\u2019 Al-Mujtaba said.<\/p>\n\n\n
The Vice President Yemi Osinbajo, on Tuesday in Abuja, wooed investors to invest in Nigeria\u2019s gas industry. Osinbajo spoke at the opening ceremony of a two-day Domestic Gas Summit 2022 holding at the Abuja Chamber of Commerce and Industry (ACCI). The summit with the theme, \u201cBuilding a Sustainable Gas Economy\u201d, was initiated by the Energy […]<\/p>\n","protected":false},"author":2,"featured_media":18682,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[949],"tags":[428,243],"class_list":["post-41555","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","tag-investors","tag-osinbajo","has-post-title","has-post-date","has-post-category","has-post-tag","has-post-comment","has-post-author",""],"yoast_head":"\n