Obaseki calls for policies to attract investment in gas sector

The Edo State Governor, Mr. Godwin Obaseki and stakeholders in the Liquefied Petroleum Gas (LPG) sector have called for targeted policies to attract more investments into the sector to maximise Nigeria’s gas resources for national development.

The stakeholders noted that despite its huge potential, the sector was being plagued by a poorly regulated retail market, shortage of LPG storage facilities, inadequate infrastructure, logistics inadequacies, insecurity and Foreign Exchange (Forex) crisis.

They spoke at the 11th Nigeria Liquefied Petroleum Gas Association (NLPGA) International Conference and Exhibition, held virtually, with the theme, “Market Growth and Fiscal Regulations: Rethinking the LPG Supply Gaps amid the Challenging Regulatory Environment.” Obaseki said Nigeria has proven gas reserve of about 206TCF and it was imperative that the country made critical decisions that would enable industrialisation and economic growth through gas. Obaseki, represented by the state’s Commissioner for Mining, Oil and Gas, Engr. Ethan Uzamere, said the value and investment to the sector could be increased with the right policies and regulatory framework