Stakeholders within the oil and gas industry are eagerly awaiting clarity from President Bola Tinubu’s government regarding its plans for gas development. These stakeholders urge the government to address the risks threatening Nigeria’s economy and energy transition.
A document compiled by the Natural Resource Governance Institute and obtained in Abuja highlights the demands of stakeholders and Civil Society Organizations regarding this issue. According to the document, Tinubu has expressed his commitment to expediting the implementation of the Nigeria Gas Master Plan and modernizing the regulatory framework for natural gas production.
Tinubu’s campaign manifesto outlined several vital promises, including a 20% increase in gas production, the completion of critical gas infrastructure projects by 2027, an increase in Nigerian gas exports to the European Union, and the prioritization of Nigerian power generation through a “Nigeria First policy” that directs gas resources accordingly.
About President Tinubu’s energy mission statement, the document states, “A coalition of Nigerian Civil Society Organizations has called on the administration to reveal its action plans for Nigeria’s gas sector within 90 days of assuming office.”
The coalition acknowledges that while focusing on gas for foreign exchange or domestic energy needs may address short-term energy and development requirements, significant risks are associated with heavily relying on gas in the long run.