NNPC Set To Use Nigeria’s Gas Reserve To Trigger Industrialization

The Nigerian National Petroleum Company (NNPC) Ltd has expressed commitment towards utilising Nigeria’s abundant gas resources to trigger Nigeria’s industrialisation and economic development.

This was disclosed by NNPC Ltd’s Executive Vice President, Upstream, Mrs. Oritsemeyiwa Eyesan, at the 2024 CERAWeek Conference in Houston, the United States, she said Nigeria is a predominantly gas-rich country which boasts of over 200TCF of gas that can be leveraged for the country’s industrialisation and economic development.

According to her, NNPC plans to deepen gas utilisation domestically for industrialisation aside ensuring that the entire country feels and optimises the use of the resource. She said the company is vigorously opening avenues for infrastructural gas development through various gas projects spread across the country.

She said, “Our focus is how to move from predominantly oil player to gas player and not just for gas for the sake of gas, but gas for power generation, and industrialisation.

"We want to capture all gas flared, utilize it for domestic use and ultimately, increase our energy transition footprints."

Whole speaking on energy transition, Eyesan noted that the subject had evolved over the years, adding that for Sub-Saharan Africa, the narrative has been on how to address the energy poverty issue while for Nigeria, the NNPC Ltd. will look at areas where it has competitive advantage to define the strategy.

Meanwhile, the Executive Vice President, Gas, Power and New Energy, NNPC, Olalekan Ogunleye, explained that transparency, accountability, research, technology and innovation are the key drivers of the ongoing transformation in the company.

Ogunleye further expressed the current leadership of the company has institutionalised the use of modern technology to drive its operations, a development that has created tremendous value for the company in its quest to compete with its global peers.