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The Committee on National Gas Expansion Programme (NGEP) has stated that a new gas pricing framework that would drive gas development and guide operations in the nation’s gas sector is ready and would be unveiled in the coming days.
According to the Chairman, National Gas Expansion Programme, (NGEP), Mohammed Ibrahim, the new gas pricing framework would attract both local and foreign direct investment while also unlocking new frontiers through a combination of technology and policies aimed at addressing issues that impede growth of the sector.
Ibrahim, who was represented by the Assistant Secretary of the Committee, Olasupo Agbaje at the 12th International conference and awards organised by the Nigeria Gas Association (NGA), said: “We are looking at issues that impede the growth of this sector, one of which is pricing and we are taking necessary efforts to address them.”
TODAY
February 26, 2021
The chairman of National Gas Expansion Programme (NGEP), Mohammed Ibrahim, says the federal government will launch a new pricing framework to regulate operations in the gas sector.
He was speaking on Friday at the 12th Nigerian Gas Association international conference.
Represented by Olasupo Agbaje, a member of NGPE, Ibrahim said Nigeria needs to unlock new frontiers in the gas sector.
He said the government is working towards achieving a 40 per cent conversion from petrol to gas for vehicles in the country.
“As a nation we are committed to unlocking new frontiers through a combination of policy and technology. In terms of unlocking these frontiers, we find that we need to undertake a pricing framework review that has been concluded and in the next few days, we are going to be having a new pricing framework that will guide operations in the gas sector. The pricing will make it easy for operators to look at domestic options,” he said.