Expert canvasses increased exploitation of Nigeria’s gas reserve

Managing Partner, Seacof-Plus Engineering Ltd., Francis Johnson, on Tuesday urged Nigeria to pursue a sustainable gas policy that would expand its exploration and leverage the nation’s earnings.

Johnson made the suggestion in an interview with the News Agency of Nigeria (NAN) in Lagos.

He said Nigeria was sitting on a huge reserve of gas, which could be explored and sold to countries that needed it.

According to him, Nigeria needs more gas companies to explore and exploit the nation’s abundant gas  resources out to where they are needed.

“As it appears, only one or two companies are presently focusing on that aspect of the power sector,” he said.

Johnson, however, urged investors to maximise the investment opportunities in the on-going reforms in the country’s infrastructural sector to invest in the short, medium and long term.

“Infrastructure projects are here to stay; factors have been put in place to ensure projects are successful,” he said.

He said that Nigeria was moving in a positive direction with the ongoing developments.

He said, “Our laws are becoming more investor-friendly.”

The gas expert said that the regulatory institutions had a major role to play, as infrastructural investment processes continued.

“We are not yet in a safe haven but we are getting closer. A bit more has to be done, mindsets need to be changed,” he said.

Johnson urged the Federal Government to invest in effective policy planning for the energy sector and learn from the lessons and shortcomings of the past.

He said this had resulted in the present energy crisis, especially the chronic circular debt issue.

He said government should allocate adequate budget for oil and gas explorations on war footings as about two-third of the country’s potential area was still unexplored.

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