Nigeria’s Ogbonnaya says Country Requires $20bn Annual Investment in Gas Infrastructure to Boost Expansion
Nigeria requires an estimated $20 billion annual investment in gas infrastructure to boost expansion, said Dr Orji Ogbonnaya, executive secretary of Nigeria Extractive Industries Transparency Initiative (NEITI), reported in the Nigerian Tribune.
The report added that Ogbonnaya, in his presentation, urged the need for the government to put in place a national gas utilisation policy that would be clear on the specific roles of the industry, government and investors.
Ogbonnaya further said that such infrastructure would include specific connectivity across upstream facilities to processing, power plants and other end uses.
The executive secretary disclosed, while making his presentation at a policy dialogue on Nigeria’s decade of gas action plan, organised by the African Initiative for Transparency, Accountability and Responsible Leadership (AfriTAL) and the Natural Resource Governance Institute (NRGI) in Abuja, based on the report.
If the government’s intention is aimed at achieving energy accessibility, affordability and sustainability as stated in the 2021-2030 ‘Decade of Gas Action Plan (DofG)’, it is effectively implemented, said Dr Louis Ogbeifu, executive director of AfriTAL. Nigeria is expected to witness a vast gas infrastructural development during the period, Dr Louis added.
The report also mentioned that Ogbeifu said, though countries abandon fossil fuels as a significant energy source, Nigeria will need to increase its crude oil production in the short run beyond the current level. This will create revenue to diversify and invest in other alternative sources.
