Abuja, June 10, 2021 The Department of Petroleum Resources (DPR) has set up a programme to establish micro Liquefied Natural Gas (LNG) distribution centres across the 774 local government areas in the country. Mr Sarki Auwalu, Director, DPR, made the disclosure while speaking on Thursday on the sidelines of the 2021
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Bala Wunti, group general manager, National Petroleum Investment Management Services (NAPIMS), the agency charged with the responsibility of managing the nation’s investment in the upstream sector, disclosed this to journalists on Wednesday.
Wunti spoke at the sidelines of the ongoing 2021 Nigeria International Petroleum Summit (NIPS) in Abuja.
Carbon credits are allowances paid by companies that allow it emits a certain amount of carbon dioxide or other greenhouse gases.
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As at 2020,
the World Bank recommendeda price of $40 to $80 per ton for carbon to be traded.
Wunti said the €1 million was earned through its partnership with TotalEnergies.
“It is through our partnership with Total that we are able to market our credit position and monitise it and we have earned over one million euros so far,” he said.
Industrialisation. Photo: PIXABAYAs formerly presented, the desire of the Federal Government to have a gas-powered economy by 2030 is welcome and in tandem not only with international best practice but also the necessity to boost the nation’s struggling economy.
For too long, the government has paid lip service to developing the gas sector, despite its huge potential. At the same time, corruption and endless policy somersault have seen gas being wasted, even as avenues abound for its profitable utilisation. For the many decades that gas has been flared in the Niger Delta, for instance, the country is known to have lost a huge fortune in revenue.