President Muhammadu Buhari has reassured of his administration’s poise to fully utilise Nigeria’s abundant gas resources to expand the economy and improve industrialisation.
President Buhari spoke on Monday during his virtual participation at the Nigeria International Petroleum Summit (NIPS), 2021 Pre-Summit Conference and the official launch of “The Decade of Gas in Nigeria”.
Setting the tone for the development of the industry in the next ten years, President Buhari said given the country’s potential of about 600 trillion cubic feet of gas, the commodity has the enormous potential to diversify Nigeria’s economy.
‘‘The rising global demand for cleaner energy sources has offered Nigeria an opportunity to exploit gas resources for the good of the country.
We intend to seize this opportunity,’’ the President said at the virtual event.
According to him, his administration has shifted focus on the development of the nation’s gas sector because Nigeria is well known to be a nation with abundant gas resources and little oil deposit as compliment.
He, however, noted that the country has focused on oil over the years, adding ‘‘that is the paradox that this administration decided to confront when we declared the year 2020 as The Year of Gas’ in Nigeria.