GAS: Stakeholders task FG on investment, infrastructure

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STAKEHOLDERS in the Nigeria’s oil and gas industry have tasked the Federal Government to work towards the passage of the Petroleum Industry Bill, PIB, into law without further delay in order to stimulate investment in the key segments of the industry, especially gas.

 

The stakeholders who rose from a recent webinar on, ‘The Role of Natural Gas in post-COVID Economic Recovery’, in Lagos, organised by Nigerian Gas Association, NGA, stated: “There should be an emphasis on the passage of the PIB to begin addressing the operating environment and trigger the multiplier effect from the petroleum sector to other areas of the economy.

 

The prevailing twin economic headwinds from the COVID-19 pandemic and Nigeria’s weak fiscal position from falling crude oil export revenue, necessitate the urgent need for stakeholders in the natural gas industry to collaborate on evolving game-changing and sustainable critical policy steps, industry operations strategies, innovative funding models, and broad fiscal incentives to navigate the anticipated shocks.”

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