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The Nigerian Midstream Downstream Petroleum Regulatory Authority (NMDPRA), yesterday, in Abuja, approved the construction of an indigenous firm to expand gas availability in Nigeria.
NMDPRA said landmark gas projects are at completion stages across the country and that some would be due for completion early next year.
Chief Executive of NMDPRA, Farouk Ahmed, disclosed that harnessing the 209 trillion available natural gas reserves in the country remains sacrosanct on the backdrop of energy transition and industrialisation.
According to him, the new approval would see an additional 500-metric-ton LPG storage depot opened in Gwagwalada area of the Federal Capital Territory (FCT).
“There is no better auspicious time than now for the optimization of the gas that we have. Nigeria has more than 209 TCF of gas. Not only that but the government has also designated gas as the transition fuel for Nigeria but more importantly, is the fact that the President has given a fresh impetus to these optimizations, both in deregulating the PMS market and prioritizing utilisation of gas.
“This will enable not just the supply to improve because generally speaking, Nigeria’s gas utilization per capita is far below what you have in even other African countries.
“Secondly, as you can imagine, this will provide employment opportunities,” Ahmed, who was represented by a director at the agency, Ugbugo Ukoha, said. He noted that the commission would guide investors through the regulatory process and provide regulatory support to enable players to meet each milestone in the construction of every facility within the industry. Managing Director, Noretek Energy Ltd, Edward Traore, after receiving the permit said the milestone serves as a pivotal element in the company’s broader strategy.
“We are not simply investors in projects; we’re investors in the future. Our commitment to clean energy doesn’t end with this depot; it catalyzes our more extensive clean energy ecosystem. We recognize the federal government’s efforts toward clean energy, and we intend to be more than mere spectators; we plan to actively contribute to this important initiative,” he said.
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