Minister of State Petroleum Resources (Gas), Ekperikpe Ekpo on Thursday informed investors and other stakeholders in the gas sector that regulatory frameworks now in place incentivises investments, streamlines bureaucratic processes, and provides clarity on fiscal terms.
The minister stated this in a keynote speech at a colloquium on promoting investment in Nigeria’s gas sector organised by Babalakin @ Co in Abuja, assuring investors that the President Bola Tinubu-led federal government has created a conducive environment for investments in the gas sector.
He said: “The Petroleum Industry Act (PIA), and the recent Presidential Directive for Oil and Gas Companies on Tax Incentives, Exemption, Remission, etc. by President Bola Ahmed Tinubu have created a conducive environment for investment.These reforms ensure transparency, accountability, and regulatory certainty, making Nigeria an attractive destination for investors.”
Ekpo, represented by the executive director, Midstream and Downstream Gas Infrastructure Fund (MDGIF), Oluwole Adama, said Nigeria stood at a pivotal moment in its history, particularly in the realm of energy.
According to him, with vast reserves of natural gas, the country possesses a resource that holds the key to unlocking immense potential for economic growth, industrialization, and sustainable development.
He however, noted that realising this potential required concerted efforts, innovative strategies, and unwavering commitment from both the public and private sectors.
“Promoting investments in Nigeria’s gas sector is not merely an economic imperative, it is a commitment to harnessing our natural resources for the prosperity and well-being of current and future generations,” said Ekpo.
“By embracing bold strategies, fostering collaboration, and upholding the highest standards of excellence, we can unleash the transformative power of gas to drive inclusive growth, create jobs, and propel Nigeria towards a brighter and more sustainable future,” he added.
