The Gas Association's confident investment policy will fuel a sustainable energy future

The Nigerian Gas Association (NGA) has commended the Federal Government for the recent release of three key policy directives that herald a monumental leap towards opening up investment in the oil and gas sector.

Nwokedi's hand
Mr. Aka Nwokedi, President, Gas Association of Nigeria

These directives include multiple strategies, including implementing fiscal incentives for non-adjacent gas, midstream and deepwater developments, streamlining the contracting process to shorten the contract cycle to six months, and implementing local content requirements without hindering investment or cost competitiveness.

The President, Gas Association of Nigeria, Mr. Aka Nwokedi, hailed these directives as transformative milestones that are poised to revolutionize the energy landscape of Nigeria's oil and gas sector, with gas as a key enabler.

He emphasized that strategic investment of fiscal incentives for non-adjacent gas, medium and deepwater developments can attract significant investment, strengthen safety measures, increase production rates, enhance domestic gas utilization and improve ease of doing business. the part.

Furthermore, streamlining the contracting process to speed up the current 36-month contracting cycle by just six months is being hailed as a game changer. This will significantly reduce bureaucratic obstacles and increase operational efficiency across the sector. This streamlined approach will catalyze project implementation, optimize resource allocation, and create an enabling environment for local and international investors.

Furthermore, applying local content requirements without compromising investment or cost competitiveness underscores the government's commitment to promoting sustainable development and empowering local stakeholders. These directives can pave the way for inclusive growth, knowledge transfer and skills development within the Nigerian workforce by balancing local content commitments and investment incentives.

“We commend the Federal Government for its unwavering commitment to drive positive change and create an enabling environment for investment in the oil and gas sector,” Mr Nwokedi said. “These progressive policy directives mark a significant leap forward in our collective journey towards a sustainable energy future and strengthening security in Nigeria.”

Mr. Nwokedi reiterated NGA's firm commitment to partner with the Federal Government to realize the nation's strategic energy goals, focusing on the use of gas as a key driver of economic prosperity and national development.

The Nigerian Gas Association reaffirms its commitment to promoting collaboration with all stakeholders including government agencies, industry players and civil society organizations to promote progress and prosperity in the oil and gas sector.

NGA is a non-profit organization dedicated to promoting the development and growth of the gas industry in Nigeria. With a focus on advocacy, education and collaboration, NGA seeks to advance the interests of its members and contribute to the sustainable development of Nigeria's energy sector.

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