Nigeria: Buhari launches 'Decade of Gas', aims to become gas-powered economy by 2030

Muhammadu Buhari, the President of Nigeria, launched a plan on Monday that aims to power the economy of the country with gas by 2030, according to a report by Vanguard. 

Being the sixth-largest gas country and ninth on the scale of gas exports, Nigeria consumes a small share of the resources. The plan, as outlined by Buhari in the pre-summit conference of Nigeria International Petroleum Summit (NIPS) Abuja, is to expand the large gas reserves of the country by exporting and becoming a major gas-consuming nation. 

Today we formally launched “The Decade of Gas” in Nigeria. The rising global demand for cleaner energy sources has offered Nigeria an opportunity to exploit gas resources for the good of the country. We intend to seize this opportunity.

— Muhammadu Buhari (@MBuhari) March 29, 2021

Speaking at the event virtually, Buhari asked for the involvement of government agencies and operators to turn the plan into reality. He said that the country is capable of diversifying and uplifting the gas-powered economy, giving the country's gas potential of about 600 trillion cubic feet and upsurging global demand for sources of clean energy. He further explained that the opportunity can be used for the country's good as he intends to "seize this opportunity".

Buhari continued and explained that the country has committed to Nigeria's development before the declaration of 2020 as 'the Year of Gas'. He said, "this Administration had shown commitment to the development of Nigeria’s vast gas resources and strengthening of the gas value chain by reviewing and gazetting policies and regulations to enhance operations in the sector as encapsulated in the National Gas Policy of 2017. Our major objective for the gas sector is to transform Nigeria into an industrialized nation with gas playing a major role and we demonstrated this through enhanced accelerated gas revolution”.

Timipre Sylva, the State Petroleum Resources Minister also asserted with the plan at the event and said that the country's enormous gas resources would be able to generate power for its industries.