Minister aims to attract increased investments in the gas sector

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The Minister of State for Petroleum Resources, (Gas), Heineken Lokpobiri, urged increased investments in tapping into Nigeria’s vast gas reserves during the 8th Sub-Saharan Africa International Petroleum Exhibition and Conference in Lagos.

 

Emphasizing the significance of the event amid global discussions on energy transition and security, Lokpobiri stressed that gas plays a pivotal role in ensuring a secure energy future and driving national development goals.

 

Highlighting the importance of finance and investment in infrastructure, he mentioned the establishment of the Midstream and Downstream Gas Infrastructure Fund to facilitate government equity investment.

 

The minister also outlined government incentives, such as tax waivers and duty exemptions, aimed at fostering gas sector development.

 

Calling for collaboration between the public and private sectors, Lokpobiri underscored the need for joint efforts to bridge the gap between gas demand and the underdevelopment of Nigeria’s extensive natural gas resources.

 

He expressed the government’s openness to partnerships that align with national goals for both domestic utilization and export of gas.

 

 

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