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Gas Infrastructure Deficit Requires $2bn Annually – Sylva

Byadmin

Aug 31, 2022

Sylva Reveals How Nigeria Can Drive Economic Growth, Eliminate Energy Poverty

The Minister of State for Petroleum Resources, Timipre Sylva on Tuesday said the Federal Government has put the estimated amount required to bridge Nigeria’s gas infrastructure deficit at $2bn annually.

Sylva revealed this at the inauguration of the Governing Council of the Midstream and Downstream Gas Infrastructure Fund.

According to the minister, the cause of poor gas production, gas flaring and low domestic gas utilisation across Nigeria is the gas infrastructure deficit.

The Minister took the opportunity to admonish the nine-member council to work seriously to mobilise funds for the provision of critical infrastructure for the gas industry.

The media aide to the minister, Horatius Egua quoted his principal saying, “It is estimated that more than $20bn yearly will be required over the next 10 years to bridge these gaps.”

Sylve further stated that the council would drive economic development and prosperity for the nation and its partners through the Petroleum Industry Act 2021.

The minister noted that though the Federal Government had put in place several programmes towards achieving the decade of gas initiatives and developing the huge gas potentials of the country, the missing link was the absence of the basic gas infrastructure to help realise the objectives.

This article was originally published on Naija News