Gas Development Will Lower Cost of Living — Minister

The Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, has asserted that utilizing Nigeria’s gas resources is the most effective route to national prosperity. During a visit to the Nigerian Content Development and Monitoring Board (NCDMB) facilities in Yenagoa on Wednesday, Ekpo emphasized the significance of leveraging Nigeria’s vast natural gas reserves, estimated at approximately 209 trillion cubic feet.

Ekpo highlighted President Bola Ahmed Tinubu’s commitment to the gas sector, which encompasses initiatives across the entire value chain, including gas development, distribution, and penetration. These initiatives are designed to reduce living and transportation costs while benefiting all regions of Nigeria. Key initiatives from Ekpo’s ministry include: 1. Investments in Gas Infrastructure: Supporting the transportation and distribution of natural gas across Nigeria. 2. Promotion of Domestic Gas Utilization: Enhancing power generation, industrial applications, and transportation through local gas use. 3. Strengthening NCDMB’s Capacity: Building capabilities and enforcing local content policies. 4. Gas-to-Power Projects: Supporting reliable and sustainable electricity supply. 5. Expansion of LNG Exports: Increasing Nigeria’s capacity to export liquefied natural gas and enhance its position in the global market. 6. Policy and Regulatory Enhancements: Creating an investment-friendly environment through improved frameworks.

Ekpo also noted that 60% of NCDMB’s investments are gas-related, recommending a focus on Compressed Natural Gas (CNG) projects due to their direct impact on transportation and cost of living. He praised the NCDMB for its progress in local content promotion and the construction of its 17-storey headquarters, reflecting the growth of local capacity.