Chichi Emenike, Head Neconde Energy Limited, Thursday, advocated the need for the speedy passage of the Petroleum Industry Bill (PIB) into law in order to facilitate the country match to economic recovery during the post-COVID-19 era.
She also said more investors in the oil and gas would see Nigeria as a choice investment destination where their stakes are well protected if the bill finally becomes law.
According to her, Nigeria can’t afford a flip flog legislations in its oil and gas sector when smaller countries have since emplaced valuable statutes that have strengthened their oil and gas industry.
She spoke at a virtual conference yesterday where she also expressed her thought on how Nigeria can drive the sector with appropriate gas pricing.
According to her,apart from the willing-buyer and willing-seller approach,the federal government needs to consider the liberalization of gas industry in order to attract more investment therein.
She also emphasized the need for massive investments on key gas infrastructure in the country in order to give the sector new vista of opportunities.
She spoke on Nigeria’s declaration of year 2020 as a gas year,saying the country has what it takes to make better fortune from gas as well as use the resources to lubricate its economy if there a paradigm shift from the old order of doing things in the sector.
She commended the federal government for inaugurating the Nigerian Gas Transportation Network Code(NGTCN), saying the initiative will liberalize the gas market and address infrastructure constraints in the sector.
On the country’s gas flare regulations commercialization programme, Emenike expressed optimism that the gesture would enable gas-to-power projects and global terminal date for gas flare by 2030.
She spoke on her company’s contribution in the country’s gas sector, saying it currently has 80million standard cubic feet of associated gas and targets to grow same to 100million standard cubic feet soon.
She also said her company is pursuing aggressive drive to collaborate with partners with a view to exploring other value chains in the country’s gas market.
She said the country’s current challenges would not deter her company from deepening its relevance and adding value to Nigeria’s oil and gas industry.
She expressed the desire of her company to change the face of Nigeria’s oil and gas and spur the country’s economic recovery through massive contributions to Nigeria’s Gross Domestic Product(GDP)
