The Federal Ministry of Finance on Wednesday attributed the underdevelopment of Nigeria’s gas sector to the non-implementation of the 2008 National Gas Masterplan by the past administrations.
Anastasia Mabi Daniel-Nwobia, permanent secretary in the ministry, made the disclosure in a goodwill message in Benin City, at a three-day seminar organised by the Post- Mortem subcommission of the Federation Account Allocation Committee (FAAC) titled, “National Gas Seminar on the role of gas in Nigeria’s economy.”
Daniel-Nwobia was represented by Dennis Chukwu, director special duties, of the ministry.
She said the non-implementation of the gas master plan also led to inadequate domestic gas supply and the absence of a commercially viable pricing structure for the domestic market.
She observed that the only way to mitigate the challenges would be through a reappraisal and implementation of the National Gas Masterplan which has been on the shelf since 2008.
She added that the urgent implementation of the masterplan would lead to better harnessing of the nation’s gas to feed the power turbines, drive industries and avail households of the much needed energy supply.
She further added that the project would lead to enlargement of the employment space for the teeming youths, enhance the diversification of the national economy and cause significant growth in the country’s export earnings.
She was optimistic that once the Brass and Olokola Liquefied Natural Gas (LNG) projects were completed, their impact would expand the industrial horizon of the country.
She noted that Nigeria has gas deposits amounting to approximately 188 trillion cubic feet, making it the leader in Africa, and that since the advent of democracy in 1999, there had been a clear focus on harnessing the resource for national growth and development.
The chairman of Revenue Mobilization Allocation and Fiscal Commission (RMAFC), Elias Mbam said the seminar was geared towards harnessing the nation’s gas resources to enhance the revenue accruing into the federation for the benefit of the three tiers of government.
Adams Oshiomhole, governor of Edo state, called on the chairman of the RMAFC to compel the Department of Petroleum Resource (DPR) to refund all the money allegedly illegally deducted at source that was meant for the Federation Account.
Oshiomhole said he would not hesitate to institute legal action against the authorities of DPR in pursuit of the cause.
IDRIS UMAR MOMOH, Benin
