The Chairman of the National Gas Expansion Programme (NGEP), Mr Mohammed Ibrahim, has said saving 364 billion of standard cubic feet of gas (BCF) can generate 300 megawatts (MW) of electricity and create 300,000 jobs.
Mr Ibrahim who stated this during a courtesy call to the Chief Executive Officer, Nigerian Midstream and Downstream Petroleum Authority (NMDPRA), Mr Farouk Ahmed, in Abuja, frowned at the continuous flaring of gas in Nigeria which he said leads to loss of revenue.
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He said the 364BCF of gas saved from being flared can also give over six million households access to clean energy.
Ibrahim said the gas programme was introduced to make CNG and LPG the fuel of choice for transportation, domestic uses and power generation.
On his part, the CEO of NMDPRA, Mr Ahmed, expressed his willingness to collaborate with the drivers of NGEP to enhance gas production and domestic consumption in the country.
He told the NGEP delegates that the Petroleum Industry Act (PIA) provides opportunities for gas development and the efforts of the NGEP in canvassing for gas utilisation and penetration will engender rapid growth in Nigeria’s economy.
Ahmed assured the NGEP team that the Authority will put the required policies in place that will spur growth in the industry, ensure Return on Investment, increase production activities and domestic consumption of LPG in the country.
Ahmed, in a separate statement, said the Authority will continue to implement the petroleum bridging programme to boost availability of the product nationwide.
He said NMDPRA will also offset all the bridging verified claims by all the stakeholders in the distribution of Premium Motor Spirit (PMS).
He urged indebted marketers that collect bridging levies provided for in the pricing template to remit such deductions to enable the Authority to pay outstanding claims.