Facebook Twitter Instagram Pinterest YouTube Tumblr LinkedIn RSS
    • About
    • Advertise
    • Contribute
    • Donate
    • Forum
    • Contact
    Login
    InfoStride NewsInfoStride News
    • Home
    • Business
    • Celebrity
    • Crime
    • Nigeria
    • Politics
    • Sports
    • Technology
    • More
      • COVID-19
      • Editor’s Picks
      • Health
      • Opinions
      • Press Releases
      • World
    Subscribe
    InfoStride NewsInfoStride News
    Home»Business Matters»Gas consumption lowest in Nigeria despite 206 tcf reserves

    Gas consumption lowest in Nigeria despite 206 tcf reserves

    Business Matters By Temitope N.Aug 24, 2021No Comments3 Mins Read
    Facebook Twitter WhatsApp Pinterest LinkedIn Tumblr Email Reddit VKontakte

    Despite boasting of a 206 trillion standard cubic feet of gas reserves and topping major countries, Nigeria’s per capita consumption of gas is the lowest in the sub-Saharan African region, Ministers of State for Petroleum Resources, Timipre Sylvia has said.

    Gas storage plant
    Gas storage plant

    He stated this at the 2021 yearly sub-Saharan African Oil and Gas Conference tagged ”The future of Upstream and Deepwater Development, Advancing Digitisation and Gas Development Options in Sub-Saharan Africa” and organised by Energy & Corporate Africa.

    With the rapidly growing population of Nigeria, expected to outnumber that of the USA in about 20 years, Sylvia feared that the upsurge in the continent’s population could be challenging if not treated as an opportunity.

    According to UN predictions, the present global population of 7.6 billion people will grow to 8.6 billion in 2030, 9.7 billion in 2050, and 10.6 billion in 2060. And in the year 2100, there will be 11.2 billion people on earth.

    “A small number of countries will be responsible for the majority of the global growth. Half of the world’s population increase is anticipated to occur in just five nations in Africa between 2017 and 2050. They are Nigeria, the Democratic Republic of Congo, Ethiopia, the United Republic of Tanzania, and Uganda,” he said.

    See also  PENGASSAN Determined To Resist FG, Oil Companies Plan To Downsize

    Speaking at the conference, which held in Houston, Sylvia said a reform of the global and regional energy systems in Sub-Saharan Africa was sacrosanct, adding that there was need to persist in expanding the role and opportunities of natural gas towards recovery and shared prosperity for a sustainable Sub-Sahara Africa and the world in general.

    According to him, while Nigeria currently holds approximately 206 Trillion Cubic Feet (TCF) in proven gas reserves, ranking among the top ten in the world with over 600 TCF unproven, current per capita consumption of gas in Nigeria is one of the lowest within the sub region.

    “Hence, the current policy of the government is to promote the utilisation of Natural Gas in Nigeria. It is expected that Natural Gas will provide the much-needed alternative to Premium Motor Spirit (PMS or Petrol) and firewood,” Sylvia said.

    The Minister noted that the lessons of COVID-19 must make the continent focus on reengineering supply chains for the new world order, stressing that the industry is no stranger to supply and demand shocks, having faced more than a dozen such jolts over the course of the past four decades.

    See also  Huawei brings intelligent oil, gas to Nigeria.

    Sylvia also noted that a single government would not be able to do it all alone, as there was a need to collaborate as a region across broad spectrum and dimensions.

    Coming on the heels of the signing of the Petroleum Industry Act, the conference celebrated the efforts being made in the industry in Nigeria as the minister was conferred with the Africa Leadership Award for his leadership role in ensuring stability and growth in the Nigeria oil industry.

    The group Managing Director of the Nigerian National Petroleum Corporation, Mele Kyari – GMD was conferred with the transformational leadership award while Dr. ABC Orjiako – Chairman SEPLAT Energy was honored for top indigenous entrepreneur in the energy sector. Innovative leadership award went to Mike Sangster, Managing Director of Total Energies Nigeria/Chairman OPTS. While NJ Ayuk, Chairman, African Energy Chamber won the award for advocacy.

    Support InfoStride News' Credible Journalism: Only credible journalism can guarantee a fair, accountable and transparent society, including democracy and government. It involves a lot of efforts and money. We need your support. Click here to Donate

    Gas Mele Kyari Natural Gas Timipre Sylvia
    Share. Facebook Twitter WhatsApp Pinterest Reddit Tumblr VKontakte Email LinkedIn

    Related Posts

    Five Ways To Analyze The Forex Market

    Dec 22, 2022

    Why FG is investigating Mikano, Jubali Brothers, JMG over generator importation

    Dec 15, 2022

    Food Inflation: Average price of tomato rises 30% in one year – NBS

    Oct 28, 2022

    Governors warn that CBN’s proposed loan recovery from FAAC revenue is “suicidal”

    Oct 22, 2022
    Add A Comment

    Leave A Reply Cancel Reply

    Get Social with Us
    • Facebook
    • Twitter 6.5K
    • Pinterest 93
    • Instagram
    • YouTube
    Latest Posts

    It’s Painful To See How Easily Violence Is Provoked Nowadays – Pope Francis

    Feb 8, 2023

    Arsenal Failed To Beat Monaco To Mbappe’s Signature – Gilles Grimandi

    Feb 8, 2023

    My Husband Forced Me To Laugh At His Dry Jokes Before Travelling – Mercy Aigbe

    Feb 8, 2023

    Declan Rice Will Be Worth Every Penny Wherever He Ends Up – Mark Noble

    Feb 8, 2023

    Subscribe to Updates

    Get the latest breaking news straight into your inbox!

    Random News

    Ramsey Noah – “The Media Almost Killed My Marriage”

    Jun 12, 2015

    Press Release > Power of the Press — TrueShip Issues Step-by-Step Guide on How to Write a Press Release for Ecommerce

    Sep 11, 2015

    Over 1200 Stakeholders from the Worldwide Phosphate Industry are Expected in Morocco for the Third Symphos Event

    May 19, 2015

    Water Doesn’t Transmit Coronavirus – WHO

    Nov 22, 2020

    InfoStride News delivers the latest breaking news, Nigeria news, world news and top stories on business, celebrity, entertainment, politics, sports, technology and more. Experience the best of in-depth coverage, special reports, football highlights, political opinions, crime watch, celebrity gossips etc.

    GooglePlay Store Button

    Support InfoStride News' Credible Journalism

    Credible journalism involves a lot of efforts and money; and can guarantee a fair, accountable and transparent society, including democracy and government. We need your support to continue offering free access to our loyal readers and visitors like you.

    Click here to Donate

    Facebook Twitter Instagram Pinterest YouTube Tumblr LinkedIn RSS
    • Our Terms
    © 2023 InfoStride News. All Rights Reserved.

    Type above and press Enter to search. Press Esc to cancel.

    Sign In or Register

    Welcome Back!

    Login to your account below.

    Continue with Facebook
    Continue with Google
    Continue with Twitter
    Lost password?