The Government declared its desire to use gas to track industrialization.
The Federal Government declared on Tuesday night that it was prepared to use gas to accelerate Nigeria’s industrialization goal. Chief Timipre Sylva, the Minister of State for Petroleum Resources, made this announcement during a dinner with the diplomatic community in Abuja and pointed out that gas was the only energy source that could assist Nigeria to diversify its economy. Nigeria has a proven gas reserve of 206 trillion cubic feet, with an additional 600 trillion cubic feet of reserve possible.
“Energy is a fundamental resource for the socioeconomic development of a country, and it must always be secured. The necessity to secure energy and assure its availability, dependability and affordability has made energy diplomacy a crucial aspect of any country’s diplomatic cooperation due to its growing impact on national security and the economy,” he said. Sylva claims that Nigeria has implemented the auto-gas program in an effort to replace the country’s excessive use of gasoline and to replace it with Liquefied Petroleum Gas (LPG) and Compressed Natural Gas (CNG). According to him, this will minimize carbon emissions and cut down on the consumption of gasoline.
The PIA is as a game changer for the oil and gas sector.
He said, “It is crucial to emphasize that natural gas is Nigeria’s preferred mode of transportation for the country’s energy transition. There has been significant progress made in utilizing this enormous potential to supply the energy required by our expanding population in terms of power generation, transportation, industrial feedstock, and clean cooking options. Despite our vast energy resources, which include over 200 TCF of confirmed natural gas reserves with a potential upside of up to 600 TCF, Nigeria is still energy-poor, which is depressing. The majority of our population still lacks access to dependable electricity and clean cooking fuels, and we are working to drastically minimize this threat in the hopes of swiftly putting an end to energy poverty in the nation.”
Sylva applauded the passing of the Petroleum Industry Act (PIA) 2021 and said it would revolutionize the oil and gas industry. The Petroleum Industry Act (PIA) 2021 has resulted in constructive reforms for the Nigerian oil sector. The PIA 2021 has paved the door for new investments, produced jobs, supported economic and energy diversification and put Nigeria in a position to not only be able to satisfy our own energy needs but also to support the expanding energy demands of the rest of the globe.
Minister called on the international community to support the plan.
In light of the action plan for a global energy transformation, the minister urged the international community to support Nigeria’s efforts to maximize its resources. It is crucial that we keep communicating, paying attention to one another, and developing mutually advantageous routes in the area of energy security. In the real spirit of cooperation, he continued, by saying that he would like to invite everyone to support Nigeria’s call for partnership and investment in our energy sector.
According to Sylva, Nigeria would keep promoting energy efficiency and renewable technology while using the Nigeria International Energy Summit (NIES) to advance the global energy transition agenda. He continued saying that it is also quickly evolving into a forum for displaying engineering and technology advancements in the energy sector. He praised the ambassadors for the effort that they had made in order to keep Nigeria’s ties with all the other various nations alive which had been a success.
NIES continues international event with participation all over the world.
The Dean of the Diplomatic Corps, Mr. Salaheddine Abbas Ibrahima, who also serves as Cameroon’s envoy to Nigeria, stressed the significance of the energy sector globally and said that such an endeavor had not taken place in years during his remarks. He emphasized that the NIES continues to be an international event with participation from all over the world and urged continuing cooperation as the program approaches. Other speakers at the event included Simbi Wabote, Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Chairman of the Independent Petroleum Producers Group (IPPG), Abdulrasaq Isa, Chairman of the Petroleum Technology Association of Nigeria (PETAN), and others.
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We can’t overemphasize the importance of gas in the industry sector. Gas is needed in the day to day running of machines to be productive and effective. Thus, there should be enough supply of gas to aid and speed up our industries.
If gas seem to be the only energy source that could assist Nigeria to diversify its economy, then they should. What’s important is the diversification. Nigeria has a proven gas reserve of 206 trillion cubic feet, with an additional 600 trillion cubic feet of reserve possible
Using the Nigeria International Energy Summit (NIES) to advance the agenda for the global energy transition, Nigeria will continue to promote energy efficiency and renewable technology.
Gas nowadays is important we use gas every time now for the usefulness of running machines and so on enough gas should be available and diversification is needed also
This is really a long feat. Government should more in the energy sector as it proven its worthiness who knows this might be an escaping route for Nigeria to revamp its economy.
Nigerians government should use all means necessary to rejuvinate the economy by using gas to help revamp industrialization,we need to continually promote renewable energy at all times.
It’s good that the Federal Government issued a statement announcing that it was willing to utilize gas in order to speed Nigeria’s goal of industrialization.
It is important for people to understand that energy is a crucial resource for the socioeconomic development of a nation, and that it must at all times be secured.
In light of the growing importance of energy to national security and economic growth, energy diplomacy has emerged as a major component of diplomatic cooperation among nations.
This would have be the best way to track industrialization in the country because large gas deposit is available in the country.
It cannot be overstated how important it is to highlight the fact that natural gas is Nigeria’s preferred means of transportation for the energy transition in the country.
Most of our people still don’t have access to reliable power and clean cooking fuels, but we’re trying to substantially reduce that risk so that energy poverty can be eradicated as quickly as possible here in our country.
The NIES is still considered an international event, and people from all over the world take part in it. Organizers have asked for ongoing collaboration as the program’s start date draws near.
We need to have thanked the ambassadors for the work that they had made in order to maintain Nigeria’s ties with all of the other other nations, which had been successful. This was a goal that they had achieved.
The significance of the energy sector globally.. It emphasises that the NIES continues to be an international event with participation from all over the world and urges continuing cooperation as the program approaches.
There is no need for noise action is what we want. If it is gas we need for industrialization and developing of this nation called Nigeria,then let our government do the needful.
I hope this decision will be implemented and not hijacked by so cabals who want to hold the world to ransom,
There is a potential for an additional 600 trillion cubic feet of gas resource in Nigeria, in addition to the 206 trillion cubic feet of known gas reserves.
“It is of the utmost importance to stress that natural gas is Nigeria’s chosen form of transportation for the country’s transition from one energy source to another.
Due to its impact on national security and the economy, energy diplomacy is a significant part of any country’s diplomatic relations.
Nigerians government should use all means to help. We need enough gas to be available and government should look into the price because price of gas is too high