Nigeria’s economic growth lies in harnessing its huge gas resources – NNPCL GCEO Kyari
With her huge gas reserves exceeding 200 trillion cubic feet (Tcf) and a potential to reach 600 Tcf, the Nigerian National Petroleum Company Limited, Mele Kyari GCEO has said it is pertinent Nigeria leverages the gas resource for sustainable development, energy security, and job creation.
Kyari reiterated that the prosperity of Nigeria as a country will come from the effective utilisation of its gas resources.
The NNPCL GCEO said this on Saturday while delivering his address at an engagement session between NNPCL and the Nigerian Association of Petroleum Explorationists (NAPE) with the theme, ‘Navigating the Path Ahead.’
He said that the gas resources in Nigeria have become so important as they are expected to provide power, boost industries.create employment and wealth for Nigerians.
The GCEO underscored the significance of prioritizing natural gas production and supply, particularly in the context of geopolitical dynamics and energy security in the global economy.
Kyari, according to Whistler, noted that the vision of the NNPCL for the energy sector aligns with the Federal Government’s ‘Decade of Gas’ initiative, aimed at optimizing Nigeria’s abundant gas reserves for both domestic consumption and international export.
“When we talk about exploration or drilling,… this is what we are doing to make sure that we meet Nigeria’s energy security until the market takes its shape. All the reforms that we are doing today clearly show we are on the good path. We are on the path we to ensuring energy security.
“We have seen the opportunities and the necessity in developing gas as a company. It is the next environment of value for our company. In our country, we know that the next prosperity will come from gas.
“It will provide power, and it will encourage gas space industries.it will create employment and, of course, overall value for our country.
“So, we are very focused on it, and yes, it is not a good thing more countries ate out of the shores of this country, so we support all of them. We are not competing with any company in this country.”
Kyari added that as a key stakeholder, NNPC Ltd is currently playing a leading role in attracting nore investments agenda through strategic partnerships in critical gas infrastructure projects.
He said, “We are their facilitators, and they are our partners. We have to help our partners, and we are helping them. That means we are going to grow those partnerships and those engagements in such a way that value can be created for everybody.
“And that is why we are currently working with those that will potentially come into the new space that some will have to leave. We will work so that we will build this local capacity efficiently so that, ultimately, what didn’t happen in the last 10 – 12 years will happen very, very soon. Those investments will come because the world needs it, and we know what we are doing.
“So, as a company, the purpose of building those relationships is so that we increase value both on the oil and on the gas. We are also not oblivious to the realities around us.
“Yes, energy transition is real, and as a company, we have taken very strategic steps towards being a very good player in that path. We have taken a position on this. We will make the money from the oil and put it into the renewables.”
