NNPC TO OPTIMISE NIGERIA'S GAS POTENTIAL FOR ECONOMIC GROWTH - ONIWON

Group Managing Director of NNPC, Mr Austen Oniwon, has pledged the corporation's resolve to optimise the country's gas potential for its economic transformation.

Oniwon made the pledge in Abuja at the closing ceremony of the 35th Edition of Nigeria Society of Engineers' Annual Conference and Exhibition organised by the Society of Petroleum Engineers.

In a paper he presented on 'Gas Utilisation for Long Term Clean Energy and Economic Growth', Oniwon decried the high rate of gas flaring in the country, in spite of efforts at stopping it.

He urged stakeholders in the petroleum industry to take up the challenge and endeavour to monetise the resource for the benefit of Nigerians.

Oniwon said the Federal Government was putting in place the necessary policy framework and strategic initiatives to stimulate the demand and utilisation of natural gas for economic development.

The NNPC boss reiterated President Goodluck Jonathan's vision of using the gas revolution project for the economic transformation of the country.

'The stage is set for a full-blown economic and environmental transformation of Nigeria through natural gas,'' he said.

Oniwon expressed optimism that Nigeria would soon become a regional hub for gas-based industries with the establishment of petrochemicals and fertiliser-blending industries. The conference was declared open on Monday by the Minister of Petroleum Resources, Mrs Diezani Allison-Madueke, on behalf of Jonathan.