President of the Nigeria Gas Association (NGA), Ed Ubong says the Petroleum Industry Act (PIA) is transforming the oil and gas industry.
Ubong spoke at the fifth Nigeria International Energy Summit (NIES 2022) held in Abuja, with the theme: “Revitalising the Industry: Future Fuels and Energy Transition”.
According to him, PIA remains the biggest achievement of the present government from the perspective of the NGA.
He asserted that the NGA is committed to President Buhari’s gas agenda which dedicates the decade to industrializing Nigeria with gas, a policy plan that the PIA, signed into law in August 2021 will play a major role in driving.
“The PIA is the one-stop regulation for investors and takes a lot of uncertainty out of the space. It is very important because investors always ask us for the framework that allows them to work in Nigeria” Ubong said.
He explained that the NGA is focused on seven thematic areas in its bid to drive gas development in the country.
His words, “The most important area is that gas must provide power and electricity for Nigerians (Gas for Power). We are also keen to see that gas is used for cooking (Gas for homes). Gas must drive Nigeria’s industrialisation. And Nigeria must play in the international markets with regards to gas.”
