The Nigerian Gas Association has called for urgent reforms to address what it called overlapping laws and regulations in the gas sector, saying this has continued to increase the cost of doing business in the sector.
The president of the association, Mr. Akachukwu Nwokedi, made this call during the recent NIES 2025.
While commending the Federal Government for its significant strides in advancing the gas sector, mainly through the actualisation of the Petroleum Industry Act and enacting forward-looking executive orders, the NGA emphasised the need for further regulatory streamlining.
The association noted that conflicting laws and multiple taxation, some denominated in foreign currencies, are stifling growth and discouraging much-needed investments in the upstream, midstream, and downstream segments of the gas industry.
The NGA commended the administration of President Bola Tinubu for “its commitment to prioritising gas as a key driver for the realisation of Nigeria’s strategic economic goals.”
Nwokedi also appreciated the Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo; the Special Adviser to the President on Energy, Olu Verheijen; the Ministry of Petroleum Resources; the Nigerian Upstream and Midstream Regulatory Authority; the Nigerian National Petroleum Company Limited, and other industry leaders for their active roles in creating the enabling environment for the sector.
The NGA President also highlighted the importance of synchronised investments, supported by integrated policies and financial frameworks, to maximise the benefits of Nigeria’s Decade of Gas initiative.
“What has become increasingly clear is that Nigeria’s Decade of Gas is also Nigeria’s Decade of Investment. This is due to the necessity of significant investment inflows within this relatively short period of time. This requires a measure of sustained transparency, confidence, and interdependencies between investors and stakeholders such that investments in the upstream, midstream, and downstream can move in a synchronised manner to enjoy optimal utilisation and returns,” he said.
The NGA boss, however, asserted that to drive and encourage more investments, the country must sustain the effort to keep enacting investor-friendly policies, laws, and regulations.
“Despite the welcome stability provided by the PIA, we still see laws and regulations that overlap and significantly increase the cost of doing business, which is unsuitable for the gas sector. It is, therefore, time to take stock and address them,” Nwokedi added.
The association stressed that Nigeria’s abundant gas resources position the country as a natural regional gas hub, capable of driving energy security and economic growth across Africa.
The NGA also underscored the critical role of regional collaboration and intra-African trade in addressing energy poverty and fostering sustainable development, noting that by leveraging its gas potential, Nigeria can play a pivotal role in connecting Africa’s energy markets and unlocking its vast energy resources.
“Nigeria has sufficient gas, as we all know, and is naturally positioned to become a regional gas hub in the continent, but we must seize the opportunity by maximising the Decade of Gas initiative. This requires a combination of smart regulations, a top-down focused project approach for key backbone pipeline infrastructure coupled with integrated policies, and financial frameworks that would make access to financing for gas projects possible,” Nwokedi concluded.
SOURCE : PUNCH
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