The state-run National Petroleum Corporation (NNPC) has ploughed back about 80 percent of the gas produced towards power generation in Nigeria.
The Group Managing Director of the NNPC, Mr Andrew Yakubu, told the 42nd Annual General Meeting of the Nigerian Society of Chemical Engineers that one of the key priorities of the corporation was to ensure that between 70 percent to 80 percent of gas produced in the country was channeled to power generation in order to stabilize electricity supply.
“One of the strategic focus we had when we came on board was to ensure that gas availability to power was met and I am glad to tell you that as at today, we are in surplus of gas availability to power, in line with the federal government’s power initiative,” a statement issued on Sunday in Abuja by Mr Fidel Pepple, the acting Group General Manager, Public Affairs Division, quoted Yakubu as saying.
He said that the NNPC was committed to consolidating the gas-to-power project so as to boost economic activities in the country.
He said that the gas aggregator company and the other key commercial initiatives had gone a long way in stimulating investment in the oil and gas sector of the economy.
The NNPC boss also said that the corporation was taking steps to grow the nation’s crude oil reserves to 40 billion barrels and daily crude oil production to four million barrels per day by 2020.
This is to ensure that a solid platform was laid for the rapid economic growth and development of the country.
On gas flaring, he said that a lot of investments had been made, reducing gas flaring to about 15 percent.
He added that export initiatives on gas had been stepped up and that plans were underway to achieve zero flare in the country.
Source African Press Agency
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