By Adedapo Adesanya
The Head of the Nigeria Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Mr Farouq Ahmed, has warned that despite having huge gas utilisation deficits, Nigeria still flares about 2.5 billion cubic feet of gas daily.
He made this disclosure at the NAEC Energy Conference 2024 in Lagos on Thursday, where he was represented by the Director of Public Affairs of the agency, Mr George Ene-Ita.
“This wasted resource could generate enough electricity for our energy/power needs. The Decade of Gas initiative seeks to end this waste, ensuring that by 2030, has contributed significantly to our energy mix, adding up to 5,000 Mega Watts (MW), to the national grid and reducing our reliance on imported fuels,” he said.
“As we invest in gas infrastructure, we must also ensure we diversify our energy sources and reduce dependency on any single fuel,” he added.
He raised an alarm about the low number of Liquified Petroleum Gas (LNG) stations, otherwise known as cooking gas, which was less than 3,000, while the Compressed Natural Gas (CNG) compression stations is less than 50 for a country of 200 million citizens.
Mr Ahmed also stressed the need to develop a robust gas sector not only to secure the domestic energy needs but also to position the nation as a reliable energy supplier for neighbouring countries, thereby enhancing regional energy security and reducing the dependency on oil.
He assured that the NMDPRA is committed to fostering transparency and a fair and investment-friendly environment.
“Through the PIA and regulations, we are creating a predictable framework for investors, ensuring fair pricing, and encouraging competition,” he said.
Also speaking at the event, the Chairman of the conference and Group Managing Director of Rainoil Limited, Mr Gabriel Ogbechie, charged policymakers to speed up on utilising the country’s abundant natural gas reserves.
He said Nigeria stood at a crossroads of opportunities and challenges, adding that, “the decisions we make today regarding the role of gas in our energy landscape will shape our nation’s economic and environmental future”.
He quoted the NEITI report as indicating that Nigeria requires approximately $20 billion yearly to bridge its gas infrastructure deficit from pipelines to processing plants.
According to him, with the recent removal of the petrol subsidy, there is a growing urgency to scale up gas alternatives, offering clean, affordable energy solutions for the nation, energy security, and building a resilient energy system.
“We need to continue to attract and provide investment, particularly in green financing to develop our gas infrastructure,” he noted, stressing the need to strengthen the policy frameworks that support the scaling of CNG and LPG initiatives for transportation and domestic use.
Aduragbemi Omiyale 
Business Post Contributor