- Flares 1.4bn cubic feet daily
By Ikechukwu Okaforadi
The Senate Committee on Gas has said Nigeria needs $30 (N 4.8trillion) to effectively utilise about four billion cubic feet of gas per day by 2015, even as it disclosed that the country flares 1.4 billion cubic feet of gas daily.
Speaking yesterday during the 2014 National Gas Conference, held in Abuja, the chairman of the Committee, Nkechi Nwogu, who made this known to journalists, also said Nigeria has a gas reserves of 187 trillion cubic feet.
She also said the $30 billion would be used to put needed infrastructures in place for the purpose of gas intimidation, even as she pointed out that Nigeria has a potential reserves of 600 trillion cubic feet.
She said this makes Nigeria to be the 6th largest producer of Liquified Petroleum Gas (LPG) in the world and the largest on the African continent.
According to her, Nigeria has a paradoxical situation of occupying the topmost position in gas reserves, but last position in gas utilisation amongst other naturally endowed countries of the world.
To this end, she said such an investment cannot be avoided by Nigeria in view of the fact that the future of her energy is gas.
“The future of Nigeria’s energy is gas with a proven gas reserves of 187 trillion cubic feet and a potential reserves of 600 trillion cubic feet which make Nigeria to be the 6th largest producer of LPG in the world and the largest on the African continent but the low utilization of natural gas in the country has made ours to be a paradoxical situation.
Meanwhile, a submission by the Senate President, David Mark’s urged all the stakeholders in the sector to use the current gas revolution for betterment of lives of people and not just limiting it to the natural hydrocarbons and wealth.
According to Mark, represented by the Senate Minority Whip, Abu Ibrahim, “the gas revolution which has come upon the country is not just about hydrocarbons and wealth, but also about human beings as regards betterment of their lives in various ways.