The Nigerian Gas Association (NGA) has said that recent gazetting of three pivotal policy directives by the Federal Government has heralded a monumental leap towards unlocking investments in the oil and gas sector.

President of the Nigerian Gas Association, Mr. Aka Nwokedi, in a statement, also noted that the directives encompassed multifaceted strategies, including introducing fiscal incentives for non-associated gas, midstream, and deepwater developments, streamlining the contracting process to compress the contracting cycle to six months, and applying local content requirements without hindering investments or cost competitiveness.

He lauded these directives as transformative milestones poised to revolutionise Nigeria’s oil and gas sector energy landscape, with gas as a critical enabler.

He emphasised that the strategic introduction of fiscal incentives for non-associated gas, midstream, and deepwater developments is poised to attract substantial investments, bolster security measures, escalate production rates activities, amplify domestic gas utilisation, and refine the ease of doing business within the sector.

He also said it was commendable the streamlining of the contracting process to expedite the current 36-month contracting cycle to just six months, adding that it is a game-changer.

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