NNPC declares state of emergency on oil production

by gregoryo18

By Esther Agbo

The 23rd Annual Nigeria Oil and Gas (NOG) Conference in Abuja commenced with a keynote address by the Honourable Minister of State for Petroleum Resources (Gas), Rt Hon. Ekperikpe Ekpo.

The event, themed “Showcasing Opportunities. Driving Investment. Meeting Energy Demand,” highlighted the Ministry’s ambitious plans for Nigeria’s gas sector, underlining its pivotal role in the nation’s economic and energy future.

In his speech, Minister Ekpo emphasized the Ministry’s commitment to unlocking the potential of Nigeria’s substantial gas reserves, which stand at 209 trillion cubic feet (tcf). “Our natural gas reserves are among the largest globally,” he stated, “offering immense possibilities for exploration, production, and utilization.”
He pointed out that the Ministry is dedicated to fostering an environment that promotes growth, innovation, and investment within the sector.

A major focus of the address was the Ministry’s efforts to spotlight the vast opportunities within Nigeria’s gas sector. Minister Ekpo outlined strategic initiatives aimed at promoting gas-based industries such as fertilizers, petrochemicals, and methanol. These industries not only diversify Nigeria’s economy but also create significant employment opportunities. The conference serves as a platform to attract global attention and encourage partnerships that can drive growth and development in these areas.

Minister Ekpo highlighted the critical role of investment in the oil and gas sector. He noted the Ministry’s role in implementing reforms, including the Petroleum Industry Act (PIA) 2021 and recent tax incentives directed by President Bola Ahmed Tinubu. These measures, he explained, create a conducive environment for both local and international investors by ensuring transparency, accountability, and regulatory certainty.

A key initiative mentioned was the Midstream and Downstream Gas Infrastructure Fund (MDGIF), designed to catalyze investments in essential infrastructure projects. “By addressing infrastructure gaps, we can significantly enhance the efficiency and reliability of our gas supply chain,” said Minister Ekpo, highlighting the importance of this fund in driving sector growth.

Addressing the nation’s growing energy demands, Minister Ekpo reaffirmed the Ministry’s commitment to leveraging natural gas as a cleaner and more efficient fuel. He said the gas-to-power initiatives are central to this strategy, aiming to provide reliable and affordable electricity that supports industrialization and improves living standards.

Furthermore, the Minister announced the promotion of Compressed Natural Gas (CNG) as a fuel alternative for vehicles, commonly referred to as Autogas. This effort serves not only as a strategic measure to mitigate the impacts of downstream deregulation but also as a pivotal catalyst for market expansion and job creation within Nigeria.

He said, “The transition to Autogas presents numerous benefits, including efficiency, availability, accessibility, versatility, and environmental safety. By fostering the use of CNG and Liquefied Petroleum Gas (LPG), we are positioning Nigeria as a leader in clean energy solutions, enhancing both energy security and environmental sustainability.”

The Honourable Minister reiterated the Ministry’s dedication to the Decade of Gas Initiative, an ambitious plan to transform Nigeria into a gas-powered economy by 2030. This initiative aims to optimize the entire gas value chain, from exploration and production to processing and utilization.
“By fostering strategic partnerships and supporting innovative projects, we aim to enhance energy access and drive sustainable development. Our vision is to ensure that every Nigerian has access to affordable and reliable energy, thereby fostering economic growth and improving quality of life.

“This ambitious initiative aims to transform Nigeria into a gas-powered economy by 2030. It involves optimizing the entire gas value chain, from exploration and production to processing and utilization. The Decade of Gas is not just a policy declaration but a strategic vision to harness our gas resources for national development,” Minister Ekpo proclaimed.

In conclusion, Minister Ekpo called on all stakeholders to collaborate, innovate, and invest in Nigeria’s energy future.
He urged, setting a hopeful and determined tone for the conference, “The theme of this year’s conference, “Showcasing Opportunities. Driving Investment. Meeting Energy Demand,” perfectly aligns with the Ministry’s vision and objectives. It is a call to action for all stakeholders to collaborate, innovate, and invest in our shared future.

“The Ministry of Petroleum Resources is committed to leading this charge, ensuring that we leverage our natural resources for sustainable development. Let us embrace the opportunities before us, drive the necessary investments, and meet our energy demands with resilience and innovation.”

The 23rd Annual Nigeria Oil and Gas Conference continues through 4th July, promising further insights and developments from industry leaders and stakeholders.

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multipurpose site for ROV ,drone services,mineral ores,ingots,agro commodities-oils,pulses,fatty acid distillate,rice,tomato concentrate,animal waste -gallstones,maggot feed ,general purpose niche -consumer goods,consumer electronics and all .Compedium of news around the world,businesses,ecommerce ,mineral,machines promotion and affiliation and just name it ...

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