Nigeria making progress in Using Gas to Drive Economic Growth
The Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, has assured that the Gas Revolution Agenda aimed at using the nation’s abundant gas resources to galvanize all-round economic growth is making steady progress towards achieving its objective.
Mrs. Alison-Madueke who spoke at a plenary session of the 19th Nigerian Economic Summit titled, “Building a World Class Petrochemical and Fertilizer Industry in Nigeria”, disclosed that the need to get the gas sector to drive growth in all sectors of the economy especially the agricultural sector, necessitated the excision of some key areas of the Gas Master Plan from the PIB for accelerated implementation under the Gas Revolution Agenda. She added that the programme has begun to yield dividends with plans for the establishment of a number of new fertilizer plants at advanced stage.
The Minister listed some of the proposed fertilizer plants to include the Dangote Petrochemical and Fertilizer Plant to be built at Olokola, Indorama Fertilizer Plant at Eleme, Brass Fertilizer Company at Brass, Nagarjuna Fertilizer Plant at Ogidigben, and another plant by the International Fertilizer Association.
She explained that with most of the fertilizer plants billed to come on stream by 2017, Nigeria is being positioned to control 10% of global fertilizer market by 2017.
Speaking further on the gas policy framework, Alison-Madueke explained that the thrust of the two-pronged policy of gas-to-power and gas-to-industries is to drive linkages between the power and industrial sectors with the agricultural sector serving as a linchpin in the industrial sector on account of its enormous job creation potential and multiplier effect in the economy.
She assured that gas supply challenges are being tackled through the introduction of fair pricing that is comparable with what obtains in major gas producing countries like Egypt and Trinidad & Tobago as well as massive construction of gas infrastructure such as gas pipelines and gas processing plants.
On efforts to reduce gas flare, the Minister said gas flare has been reduced considerably over the past two years to 20% and that the series of gas projects including the oncoming petrochemical and fertilizer plants would take up a bulk of the gas currently flared thereby reducing gas flare and the harm it does to the environment.
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