Minister of State Petroleum Resources (Gas), Rt. Hon. Ekperikpe Ekpo has urged Nigerians to be patient with the President Bola Tinubu-led Federal Government as greater effort is being put into addressing the economic challenges occasioned by the removal of fuel subsidy.
Ekpo stated this during a courtesy visit to his office at the NNPC Towers Abuja by the national leadership of the Nigerian Union of Journalists (NUJ) led by its President, Dr. Chris Isiguzo.
He said some businessmen took advantage of the low cost of subsidized fuel in Nigeria and diverted large volumes to neighbouring countries where they make huge profits, while target beneficiaries in Nigeria groan in acute scarcity.
The Gas Minister highlighted the huge gas deposits in Nigeria which at present stands at about 209 trillion cubic feet proven reserves with potential reserves increase opportunity to 600trillion cubic feet, saying President Tinubu meant well in ending fuel subsidy as the decision has allowed increased focus and investments in the gas sector, and the utilization of gas as an appropriate, more cost-effective, and cleaner alternative to petrol and diesel as vehicular fuels.
Ekpo informed the NUJ leadership that licences have been granted to some companies to take out the gas flared in the country for commercial purposes, while efforts are ongoing through various government programmes and initiatives to ensure more Nigerians use LPG and CNG for cooking and transportation.
“Mr. President has a good vision for the country, he has been a player in the industry and he has seen that gas is cheaper, cleaner and safer. Gas has been abandoned for years, but with the Petroleum Industry Act (PIA) and other executive oders we are now focusing on utilizing our natural gas resources,” he said.
NUJ president, Isiguzo, in his speech acknowledged the Minister’s impactful leadership in the past year, and commended him for, “…the successful implementation of new policies aimed at increasing local content to the initiation of vital infrastructure projects, your leadership has set a positive trajectory for the future. These achievements are not only commendable but also provide a solid foundation upon which further progress can be built.”