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By Iheanyi Chukwudi
President Bola Ahmed Tinubu on Friday assured the country of his administration's commitment to prioritize the utilisation, processing, and export of Nigeria's vast gas resources.
That he said will be a means to drive the restructuring and growth of the nation's economy during his tenure in recognition of the potential of gas as a transition fuel and its importance in catalyzing economic development.
A statement by his Special Adviser on Media and Publicity, Ajuri Ngelale, said that the President made the assurance while meeting with the Board and Management of the Nigeria Liquefied Natural Gas (NLNG) Limited at the State House Abuja.
The President according to the statement affirmed that all encumbrances to the entrepreneurial progress and development of Nigeria's industrious citizens, as well as any further impediments to business practice in the Oil & Gas sector, specifically, will be swiftly removed to create more opportunities for Nigerian companies and international partners to thrive on the natural and human resource wealth which God had bestowed upon the nation.
Tinubu told the NLNG delegation, led by NLNG Board Chairman, His Royal Majesty, King Edmund Daukuru of Nembe Kingdom and the NLNG Managing Director, Dr. Philip Mshelbila that, “It is now a collaborative effort in thinking and doing. We will work with all partners to redefine the future of our economy."
The President affirmed the position of natural gas as Nigeria’s gateway to sustainable development and prosperity and pledged to build a partnership with investors that will guarantee job opportunities and skill development for Nigerian youths in the overriding best interest of the oil and gas producing environments.
He said, “It is all about growing the pie so that Nigerians will benefit...skill development will help the many restive youths who need to be carried along and employed. Their lives need to be more predictable and prosperous."
Appreciating the difficulties faced by the NLNG, particularly on security, Tinubu affirmed that stakeholders, including the host communities and security agencies, will play more central roles in the resolution of troublesome points of contention for more peaceful and profitable operations on a sustainable basis.
In his remarks, the Chairman of the Board told the President that the frustrations faced by non-government stakeholders in operations were being collectively shared with the Government, and that the communities should play a greater role in ameliorating the situation, noting that issues of trust between investors and host communities must be properly handled with an emphasis on end-to-end process inclusivity.
The NLNG MD and the delegation congratulated the President for winning the 2023 Presidential elections, and setting the tone early and aggressively with bold and correct, long-term reforms which will transform the Nigerian economy within a short period of time.
Mshelbila also said that the company had provided a new standard of efficiency in Nigerian public and private sector partnership that is worthy of emulation.
He noted the contribution of more than One Billion U.S. Dollars ($1bn) to new tax revenue generation in 2022, and emphasized that it was achieved despite NLNG operating significantly below capacity, due to regional insecurity, in addition to changing industry tax modifications introduced by successive Finance Act amendments, of which they heartily commended the President's recent action to suspend the impediment-inducing provisions in recent weeks.
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