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Title : Buhari Orders NNPC To Stimulate Economic Growth Through Gas Supply
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Buhari Orders NNPC To Stimulate Economic Growth Through Gas Supply

The Nigerian National Petroleum Corporation, NNPC, yesterday, said it has been mandated by the President Muhammadu Buhari-led Federal Government to make meaningful efforts in stimulating the country’s economic growth and development.

This is even as stakeholders in the gas sector charged the Federal Government to develop its gas reserves to achieve efficiency in power supply across Nigeria.

Group Managing Director, NNPC, Mr. Maikanti Baru, disclosed this during a Gas Roundtable organised by Nigerian Gas Association, NGA, for Chief Executives and Directors of oil and gas companies, where he was named the Pioneer Advisory Board Chairman of the association.

Baru disclosed that the directive was to ensure that gas infrastructure development was enhanced for gas supply, stressing that this was a critical focus area in the Federal Government’s 2016-2019 ‘Big Wins’ for the oil and gas industry as well as in the NNPC’s 12 Key Business Focus Areas to grow the industry.

He noted that the Nigerian gas sector remained the largest and most vibrant in sub-Saharan Africa with lots of potentials, especially in the deep water and untapped gas resources.

He asserted that the gas reform was anchored on a robust strategic framework that is focused on maximum economic impact through gas, saying that it aims to drive linkages with agriculture, manufacturing and dispersed small enterprise through power.

Also speaking, President of NGA, Dada Thomas, said for the Nigerian economy to achieve its full potential, there must be power anchored on gas development through active private sector participation.

In his welcome address, he noted that gas development was the key to unlocking a better future for Nigeria.

He explained that “we believe that gas equals power. Economy diversification is a simple equation, and it means ‘No gas,No power.’ Gas remains the basis to diversify our economy.”

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