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Nigeria to reap benefit of Federal Govt gas policy

The Chairman of the Major Oil Marketers Association of Nigeria (MOMAN), Tunji Oyebanji, has said Nigeria would soon start reaping benefits of Federal Government’s gas policies. He called on the private sector help implement the National Gas Policy aimed at deepening gas utilization in Nigeria.

According Oyebanji, some of these policies included the Autogas Scheme, which was formally inaugurated on December 1 last year by President Muhammadu Buhari and the National Gas Expansion Programme.

His words: “We believe that there will be a lot of activities in the gas sector this year, both Liquefied Petroleum Gas (LPG) and Compressed Natural Gas (CNG).

“We expect the government policies in these areas to begin to bear fruits and gas consumption, both for our domestic cooking gas and auto gas, will move forward.

“We cannot say that in 2021 that auto gas will replace the Premium Motor Spirit totally, but we can begin to see some progress being made in that area.”

He said the declaration of 2021 to 2030 as the decade of gas was a great move, but needed the support of the private sector to ensure its success.

According to him, marketers are ready to key into the auto gas scheme, but need assurance that their investment will be protected.

Oyebanji said: “If you want CNG retailers across the country, you will need a lot of financial investment.

“Those who are going to make the investment also need some assurances regarding the protection of their funds.

“There should be continuous engagement and involvement of the private sector as the policy is being fine-tuned and formulated, so that by the time it comes out, it will be driven largely by the private sector.”

The MOMAN chairman said he was optimistic that significant progress would be made on the passage of the Petroleum Industry Bill in 2021, adding that stakeholders should be carried along in the process.

He said that the oil and gas industry might begin to pick up during the second quarter of the year, if the country was not forced into another lockdown, due to the second wave of the COVID-19 pandemic.


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