2022 Domestic Gas Summit: FG tasks stakeholders to invest in oil, gas to improve business environment, create jobs
By Gloria Akudoro, Abuja
The Federal Government has charged stakeholders to invest in Nigeria Gas Industry so as to utilise numerous options available to improve business environment and eradicate poverty.
The Vice President of the Federal Republic of Nigeria, Prof. Yemi Osinbajo made this call while delivering his keynote address at the opening of the 2-Day Domestic Gas Submit 2022 – DGS yesterday in Abuja, with the theme, “Building a Sustainable Gas Economy.”
Osinbajo filled with gratitude for the privilege given to him, also commended the Abuja Chamber of Commerce and Industry (ACCI) for organizing such an event.
He said Nigeria’s priority like many countries, is to transit from fossil fuel to natural gas.
The Vice President represented by the Special Adviser to the President on Economic Matters, Office of the Vice President, Dr. Adeyemi Otubolu, noted that the development of oil and gas resources is a key source of wealth and energy in Africa, and critical to the nation’s economic growth and sustainability.
He, however, lamented that country such as Nigeria rich in natural resources is still poor, noting that transition must not come at the expense of those in the industry relying on renewable energy.
“On the contrary, it must be inclusive, equity and this just which means preserving the right of sustainable development, poverty eradication as enshrined in the global treaty’s goals,” he added.
In his address, the Minister of Industry, Trade and Investment, Otunba Adeniyi Adebayo, described this year’s theme as a subject that provides opportunity to broaden the horizon and effectively utilise the nation’s budget in an environmently sound manner.
He said, “President Muhammadu Buhari declared the year 2021 to 2030 as the Decade of Gas for Nigeria. The initiative focuses on the sector that requires improvement, including the use of natural gas for domestic conference, economic growth, create jobs, attracting foreign investment and improving Nigeria’s energy.”
Emphasising on the vital role of the reforms that control the industry, the Minister noted that over the years, gas development and utilisation in Nigeria are highly regulated by petroleum investment and regulatory framework, one of such reforms is the recently approved Petroleum Industry Act 2021 which aims to facilitate the production of more gas and commercialisation within Nigeria.
He further explained that the PIA introduces detailed regulates and terms from different segments of the gas value chain as well as domestic gas delivery obligations.
In her vote of thanks, the Director General, Abuja Chamber of Commerce and Industry, Victoria Akai, who acknowledged everyone for being part of the Submit, said this year’s edition comes at an opportune time as the globe transitions to cleaner energy.
The DG also applauded the current administration’s effort in ensuring that domestic gas infrastructure reaches every corner of the country in order to deepen gas utilisation.
