President Muhammadu Buhari has assured investors that investment in gas remains a top priority for Nigeria considering the huge benefits in terms of returns and utility. The president noted that Nigeria had made huge investments in gas, and would continue to create enabling opportunities for expansion while looking at improving alternatives for renewable energy.
According to a statement titled, ‘Gas Remains Top Priority Transition Fuel for Nigeria,’ from the Special Adviser to the President on Media and Publicity, Femi Adesina, this was made known by Buhari, while receiving the Chief Executive Officer of Total, Patrick Pouyanne, on Thursday, in Paris France.
The Total Chief Executive, who pointed out that the French oil giant is encouraged by the support of investors in Nigeria, assured that they would continue to explore and pursue opportunities of mutual interest.
What the statement from the Presidential media aide is saying
The statement from Adesina reads, “President Muhammadu Buhari, Thursday in Paris, France, assured investors that investment in gas remains a top priority for the country, considering the huge benefits in terms of returns and utility.
“Receiving the Chief Executive Officer of Total, Patrick Pouyanne, President Buhari noted that Nigeria had made huge investments in gas, and will continue to create enabling opportunities for expansion while looking at improving alternatives for renewable energy.
“The President said Nigeria remains mindful of the target of zero-emission by 2060 and had already started putting in place necessary natural structures that will ensure balance and safety for citizens and the global community.
“In his remark, the Chief Executive Officer of Total said the French company had been greatly encouraged by the interest and support for investors in the country and would continue to explore and pursue opportunities of mutual interest.
“Pouyanne noted that the Nigeria National Petroleum Corporation led by Mele Kyari had provided a strong support base and partnership for growth, assuring the President that investments in the gas sector will be sustained, with consideration for renewable energy.”
What you should know
The Federal Government had intensified its efforts in transforming Nigeria into a gas-powered economy as it had moved to optimise the country’s abundant gas resource to achieve the transition to low carbon energy sources.
The global focus towards the climate-change-net-zero-emission debate has necessitated the need to optimise the use of the country’s abundant gas resources domestically as a transition fuel option towards meeting our Nationally Determined Contributions on climate change.
The investment in gas will also reduce gas flaring in the oil-producing communities and serve as an alternative to petrol.
