FG Relaxes Requirements For Investments In Gas

The Department of Petroleum Resources has said it is currently relaxing processing fees to stimulate investment in the gas sector.

It also explained that the government’s focus on ensuring gas utilisation and penetration is to deepen price freedom for consumers.

The Director of DPR, Sarki Auwalu, said these on Friday at a TVC News Business Nigeria Programme.

He explained that the declaration of the gas revolution by President Muhammadu Buhari has been followed up by series of strategic initiatives by the Ministry of Petroleum Resources by declaring 2020 as the year of gas.

Auwalu said that the government is working assiduously to deepen the utilization and penetration of gas, adding that DPR haf put in place incentives and support program to create opportunities for Nigerians in the gas market.

He said, “To establish downstream gas facilities, we have simplified all the relevant guidelines and streamlined the approval process to enable us fast track the penetration of the product”

“We are relaxing all the processing fees to stimulate investment and we are relaxing even domestic LPG mix to 40:60 to ensure security of supply.”

According to the Director, efforts are ongoing to rollout the additional Gas to People Initiative to enlighten Nigerians on the need to convert their vehicles to dual fuel system

“The Additional Gas to People Initiative is aimed at encouraging Nigerians to join the drive of converting their cars to dual system, and enjoy opportunity of alternative fuel which will give them price freedom,” he added.

He said that to complement the gas masterplan and drive the domestic utilisation, the Department is driving the use of virtual pipeline owing to their availability and affordability.

He said, “For safety, in March we launched the industry downstream safety training, and what it takes is to do the minimum safety training program in the major Nigerian languages to ensure safety of the people when handling petroleum products like gas, PMS.

“So that was why the program started with safety, the training program is to get people trained on how to handle petroleum products and facility so that as we push this gas to the people, first they know how to survive while handling it and also how to make it an opportunity to create wealth.

“We are now going on to quantity, and we are using technology to get the right quantity at every point, then the quality. We will track every Petroleum product whether is fuel or gas to ensure that consumers are getting the right quality at an appropriate price.”

He said that the Department has invested in auto conversion production and protection of cylinders for domestic LPG ,CNG and autogas, adding that this is the time for retail outlets operators and investors to leverage on the opportunities in the domestic gas sector to grow their wealth.

“Our message to Nigerians will then be, please support the government to reposition the oil and gas sector and diversification of energy supply mix to achieve economy diversification.

“With the concerted effort by all, the president had assured to lift at least 100 million nigerians out of poverty to achieve economic Sustainability, this will be a reality if we support this initiative,” he added.

He said the government is committed to leveraging the abandoned natural gas resources which is about 203 trillion cubit feet as at January this year.