Visit the Covid-19 Resources page and check the latest updates

Nigerian Government Approves National Gas Policy

Nigeria’s government has approved a national gas policy that aims to reduce the country’s dependence on crude oil by increasing gas exploration and facilities, the oil ministry said in a statement.

The policy was passed in last week’s cabinet session but only made public on Wednesday.

Nigeria has for decades relied on its ample supplies of oil to power its economy. But despite having a wealth of crude, the vast majority was sent overseas for refining, and the country instead has had to import refined fuels at great expense.

Nigeria has the world’s ninth largest proven gas reserves, at 187 trillion cubic feet. A move to using gas could reduce the drain on foreign exchange that importing refined oil products requires.

If coupled with infrastructure investment, Nigeria could also improve its creaking power grid, which forces many with no power or those plagued by frequent blackouts to operate costly generators.

 The 100-page National Gas Policy seeks to set up a single independent petroleum regulator.

It also aims to separate upstream from midstream operations and to separate gas infrastructure ownership and operations from gas trading, the oil ministry said.

The policy will also divide the Nigeria Gas Company into separate transport and gas marketing companies and introduce “market-led wholesale gas pricing” after a transitional period.

Doowe Samad
Doowe Samad
Admin
www.doowe.ng

We are a leading supplier and distributor of Liquefied Petroleum Gas (LPG) in Nigeria, allowing customers to use LPG gas to power their homes and businesses. Our company is an expert in LPG procurement and commissioning, bulk gas storage, cylinder filling and storage, LPG transport and delivery, installation, and maintenance.

Related Posts
Leave a Reply

Notice: ob_end_flush(): failed to send buffer of zlib output compression (0) in /home/doowenig/public_html/wp-includes/functions.php on line 5309