Government To Introduce Incentive For
Investments In Oil Sector
The
Nigerian government is set to introduce some incentives to
encourage massive investment in the production of liquefied
petroleum gas.
This is part of efforts to enable more Nigerians have access to
cooking gas.
The
Minister of Petroleum Resources Dr. Rilwanu Lukman stated this
in Abuja at the opening of the maiden National Summit on
liquefied petroleum gas.
Dr.
Rilwan Lukman said the intension was to increase local capacity
to five million metric tones in the next five years and that
government would unfold the proposed incentive in the next few
days.
The
Minister said massive production of cooking gas would be
incorporated in the nation’s energy plans to ensure the
success of the deregulation policy.
Senate President David Mark also said that the use of cooking
gas would be safer, cleaner and environmentally friendly.
He
stated that there was an oblivious attempt by some officials to
make the commodity beyond the reach of the masses.
Nigeria is the seventh largest producer of gas in the world, but
is faced with the problem of massive gas flaring and lack of
infrastructure to adequately utilize the commodity for domestic
purpose.
At
the moment, only 80,000 metric tones of gas is utilize locally
annually, while about 300 million metric tones is for export.
Chairman of the Senate Committee on Gas, Osita Izunaso,
explained that the summit was part of efforts by the National
Assembly and other stakeholders to encourage the production and
utilization of cocking gas.
The
two-day conference with the theme promoting and expanding
liquefied petroleum gas, for domestic consumption and Nigeria,
is organized by the senate committee on gas and the department
of petroleum resources.
Oil
companies operating in the country were also asked to review
their policies to accommodate the largest interest of their host
communities.
FRCN/ Qasim/Ahaziah
