Ekpo: Developing Nigeria’s Gas Resources will lead to Economic Prosperity

Arthur Eriye

The Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, has asserted the federal government’s firm resolve to advance the nation’s gas resources as this would reduce the cost of living as well as foster economic prosperity of the country.

He stated this in Yenagoa, Bayelsa State, when he visited the facilities and projects of the Nigerian Content Development and Monitoring Board (NCDMB), where he serves as the co-chair of the Governing Council.

He said that Nigeria is endowed with vast natural gas resources of about 209 trillion cubic feet of proven gas reserves, emphasizing the necessity to harness these resources effectively to drive economic development.

He underlined President Bola Ahmed Tinubu’s unalloyed support to the gas sector, with initiatives extending to the entire value chain, notably gas development, distribution and penetration. Federal Government’s drive, according to him, is geared to lower the cost of transportation, the cost of living and impact every part of the country positively.

He listed some of the key initiatives his ministry is pursing to include investments in critical gas infrastructure development to support the transportation and distribution of natural gas across the country, promotion of domestic gas utilization for power generation, industrial applications, and transportation as well as strengthening NCDMB’s capacity to build capacity and enforce local content policies.

Other laudable initiatives reeled out by the Minister include encouraging and supporting gas-to-power projects to ensure a reliable and sustainable supply of electricity, expanding Nigeria’s capacity to export liquefied natural gas (LNG) to international markets, to generate revenue and position Nigeria as a key player in the global gas market and strengthening the policy and regulatory frameworks governing the gas sector to create an enabling environment for investment and innovation.