Gas Will Hasten Nigeria's Industrialisation — Sylva

Chief Timipre Sylva, Minister of State for Petroleum Resources, has reaffirmed Nigeria's willingness to use gas to forward the nation's industrialisation programme.

Sylva claimed that gas was the only energy source that might assist Nigeria to diversify its economy while speaking at a luncheon with the diplomatic community in Abuja.

According to Sylva, gas was the certain route for Nigeria to close its energy gap, according to a statement released on Wednesday by his Senior Advisor for Media and Communication, Horatius Egua.

He said that Nigeria had 206 TCF of known gas reserves, with an additional 600 TCF possible.

“The answer is not far-fetched: Energy is the basic resource for national socio-economic development and it must be secured at all times.

“As a result of its rising impact on national security and economy, the need to safeguard energy and ensure availability, reliability and affordability has made energy diplomacy an essential part of every country’s foreign cooperation.

“It is important to stress that Nigeria’s vehicle of choice on the energy transition journey is natural gas.

“Much has been done towards harnessing this huge potential to provide the energy needed for our growing population in terms of power generation, transport, feedstock for industries and clean cooking solutions.

“It is disheartening that Nigeria is still energy-poor despite our enormous energy resources, which include over 200 TCF of proven natural gas reserve with a potential upside of up to 600 TCF,” he said.

He decried the fact that the majority of people still lacked access to reliable electricity and clean cooking fuels, adding that the pursuit was to significantly reduce this menace, with the hope of ending energy poverty in Nigeria soonest.

Sylva said in order to reap the benefit of its gas resources, authorities had deepened on natural gas utilisation under the National Gas Expansion Programme (NGEP).

“We have rolled out the Autogas scheme with the aim of displacing Premium Motor Spirit (PMS) with Compressed Natural Gas and Liquefied Petroleum Gas.

“This will reduce PMS use and minimise CO2 emissions,” he added.

The Petroleum Industry Act 2021 was passed, and the minister praised it, calling it "a game changer for the oil and gas sector."

With the passing of the PIA, he claimed, the industry had experienced beneficial reforms that opened the door for new investment, jobs, economic diversification, and the ability for Nigeria to meet the world's expanding energy demands.

He urged the international community to assist Nigeria in maximising its resources in light of plans for the global energy transition.

He declared that Nigeria will keep promoting energy efficiency and renewable technology while using the Nigeria International Energy Summit (NIES) to advance the global energy transformation agenda.

“It is also fast becoming a platform for showcasing engineering and technological breakthroughs in the energy sector,” he said.