August 08, (THEWILL) – The Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, has reiterated the Federal Government’s determination to advance the nation’s gas resources, saying it is the surest pathway to economic prosperity.
Ekpo stated this on Wednesday, in Yenagoa, Bayelsa State capital, 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.
The Minister said Nigeria is endowed with vast natural gas resources of about 209 trillion cubic feet of proven gas reserves and emphasised the necessity to harness these resources effectively to drive economic development.
He underlined President Bola Tinubu’s unalloyed support to the gas sector, with initiatives extending to the entire value chain, notably gas development, distribution and penetration.
The 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 pursuing to include investments in critical gas infrastructure development to support the transportation and distribution of natural gas across the country, promotion of domestic gas utilisation for power generation, industrial applications, and transportation as well as strengthening NCDMB’s capacity to build capacity and enforce local content policies.
Others 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, generating revenue and positioning 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.
The Minister remarked that 60% of NCDMB’s investments are gas-based and advised that new projects by the agency should focus on Compressed Natural Gas (CNG) because of the direct impact on transportation and cost of living.
He lauded NCDMB for the remarkable strides it had made in promoting local content and for constructing the magnificent 17-storey headquarters building, which signifies the impressive growth and depth of local capacity.
Ekpo added that the visit enabled him to meet with the management and staff of the Board, learn more about the agency’s operations, and discuss how to continue driving local content development in the nation’s gas sector.
In his welcome remarks, the Executive Secretary of NCDMB, Engr. Felix Omatsola Ogbe, thanked the Minister for visiting the Board’s facilities and assured him of the commitment of the management and staff of the Board to supporting the Federal Government’s economic aspirations.
The Minister and his entourage toured NCDMB’s facilities, including the Technology Innovation and Incubation Centre (TICC) and listened to presentations from three incubates on their technology solutions and how NCDMB is supporting them from concept to commercialisation.
The team also visited the NCDMB Conference Hotel project, which is undergoing construction, the NCDMB gas hub at Polaku, Yenagoa as well as the 10 megawatts gas-power plant which supplies electricity to the Nigerian Content Tower and selected offices of the Bayelsa State Government.
Amos Okioma is a Correspondent at THEWILL
