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NGA targets $55b investment in gas sector

The Nigeria Gas Association has reiterated its commitment to attracts the over $55billion worth of investment opportunities in gas sector.
Speaking with journalists in Lagos on Thursday on the forthcoming Annual General Meeting (AGM), the President of NGA, Mr. Bolaji Osunsanya, stated that, “we are extremely positive of growth in the economy and the potentials for growth in key areas such as exploration & production, processing, supply, and distribution.
“Turning natural gas into a profit-making venture requires huge investments in infrastructure that address the five component areas of gas availability, gas affordability, deliverability, funding, and legal and regulatory framework.”
He stated further that the government and operators alike recognize that the first step is to provide a legal and regulatory framework that will enable the removal of persistent obstacles.
“To this end, we have scheduled a follow-up roundtable with the National Assembly (Senate and House Committees on Gas) for later in the year.
“This roundtable will provide us with a platform to continue dialogue regarding the implementation of initiatives necessary to stimulate growth, stable revenue generation, and guarantee long term natural gas exploitation,” he said.
While the global debate about hydraulic fracturing for shale gas continues to grab the spotlight, closer to home, the discourse about the role of gas in Africa’s energy mix, particularly Nigeria,  needs to continue.
“With this in mind, the NGA continues to probe at the current state of the natural gas industry in Nigeria in addition to evaluating the potential for its future development.
“At the start of 2016, we held separate engagement sessions with the Senate and House Committees on Gas to present the association’s view on gas policy framework required to spur sector diversification, power generation, and subsequent economic growth,” he stated.
Formed in 1999, the NGA is a chartered member of the International Gas Union and has come a long way in its quest to contribute to the development of the Nigerian gas industry.
To ensure the right policy environment for the realization of this goal, the NGA proactively initiates programs and activities to engage government policy makers and key stakeholders.

 

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