Dr Maikanti Baru, Group Managing Director, NNPC and Minister of State for Petroleum Resources, Dr Ibe Kachikwu said the huge gas deposit in the country was a veritable tool for economic diversification. They both made the assertion on Monday at the Nigerian Gas Association 11th International Conference and Exhibition holding in Abuja.
Presenting a keynote address, Baru said ”Gas has significant impact on the Gross Domestic Product (GDP) as it impacts on agriculture, power and other sectors which influences economic growth.” He noted that the in the last eight years, government had invested in about 500 km of gas pipeline infrastructure adding that there was the need for more to be done. Baru however noted that pipeline vandalism, funding among others remained a major challenge in the effort to develop the sector.
In his remarks, Kachikwu reiterated the need to create an enabling environment for gas to lead in the economic diversification in the country. He said that Nigeria had all it takes to broaden it’s economy through gas, given its huge deposit of natural gas. The minister commended entrepreneurs striving to develop the sector and assured of improved policy and legal framework for the growth of the sector. He said that a review of the 2008 gas policy was on going to tackle all issues concerning the gas sector.
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