Shell Nigeria Yudala
Reps move to open up more revenue sources

By Mayowa Okekale, Abuja. on 17/02/2017

Share on facebook Yahoo mail icon Gmail icon

Views: 170

House of Representatives during plenary.
House of Representatives during plenary.

As part of the commitments of the House of Representatives to open up more revenue sources for Nigeria through legislative tools, it has organised a public hearing on Bills that focus on how to boost and explore gas utilisation for revenue generation and accelerate private investment in the product.

Declaring the public hearing open at the National Assembly, Speaker of the House of Representatives, Rt. Hon. Yakubu Dogara, who was represented by the chief Whip, Hon. Alhassan Ado Doguwa, said the proposed legislation will help to create an enabling legislative order in which gas shall no longer be a footnote of crude oil with the attendant overriding benefits to the Nigerian economy.

He stated that “presently, Nigeria has a proven gas reserve of about 187 trillion cubic feet and with the global drive towards the use of cleaner fossil fuel (gas), we must do everything possible to draw maximum benefits from the emerging gas economy and the global trend on gas resources.

“Today, the establishment of fertilizer plants, utilisation of gas for electric power production and for several significant economic purposes has tremendously heightened interest in gas production.

“Legislations that are required to boost the envisaged level of gas utilisation are largely opaque and not robust enough to accelerate private entrepreneurial investment in gas development, production, beneficiation and downstream activities; it is for this reason that the House of Representatives is highly committed to enacting legislation that would attract capital into the Nigerian gas sector.”

Dogara also explained that the Bills seeks to establish the much needed legislative framework to free – up Nigeria’s gas deposits from the overarching concentration on crude oil production at the detriment of gas production and are expected to propel the country to give gas development, production and marketing its pride of place.

“If these Bills are eventually enacted into law, they will help create the enabling legislative order in which gas shall no longer be a footnote of crude oil with the attendant overriding benefits to the Nigerian economy.

“The gas sector of the Nigerian economy has despite several commercial efforts failed to yield its value chain benefits. The laws in place in Nigeria have continued to make crude oil production the corner stone of the country’s petroleum sector development, with inadequate focus on gas production. This misnomer is quite understandable in view of the fact that at the time of developing the Nigerian petroleum sector, global interest in crude oil production and utilisation far outweighed gas utilisation. Indeed, gas was treated as waste. It has even still continued to be flared,” he elucidated.
  

Source News Express

Posted 17/02/2017 06:53:34 AM

 

Share on facebook Yahoo mail icon Gmail icon


 

CLASSIFIED ADS

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

 

You may also like...
Breaking: Soldiers, hunters battle Boko Haram invaders in...

EFCC remands Ex-Adamawa Governor in custody

Ivorian ‘golden generation’ set for glory as 2015...

19-year-old girl becomes FEDERAL LAWMAKER

11 African countries head for the polls this...

NUJ to rename Kaduna secretariat after late Gen....

FG commits to resume oil and gas exploration...

RIGHTSView: Reappraising Africa’s half a century of ‘freedom’...

Again, Osun offers free train for Christmas, New...

Exxon Mobil declares force majeure, suspends Exports

Koffi Olomide’s Zambia concert cancelled over alleged assault...

Lagos to engage graduates of technical colleges in...

 

Latest News DSS arrests Ex-Governor Suswam over alleged arms discovery How Umahi emerged Chairman of South-East Governors Forum Expect sunny, hazy weather in the North today, clouds in the South: NiMET PDP wins Gombe council polls Akeredolu files appeal against court order on dissolution of Ondo LGs SA Minister assures foreign nationals of halted attacks Laboratory Scientists commit to eradicating malaria in Nigeria World Bank doles out $500m for out of school children Anambra 2017: I am the most qualified aspirant — Comr Eze Harris Chuma Buhari phones Emir of Katsina Bauchi owes retirees N15b gratuity, says NLC Fidelity Bank reiterates support for agric-value chain funding

 

Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (229,984 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (209,078 views) Shameless Genevieve Nnaji exposes breasts in public (173,940 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (160,642 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (147,323 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (130,927 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (114,577 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (114,575 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (101,980 views) Lagos plane crash: Journalist releases victims’ names (97,700 views) APC cries foul as PDP’s Fayose takes early lead in Ekiti governorship election (92,597 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (81,809 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (27) Business (2,467) Business Verdict (14) Columnists (635) Complaints & Requests (81) Enterprise & Opportunities (138) Entertainment (288) Features (388) Global Business Monitor (138) International (1,274) Interviews (113) Live Commentary (28) Love Matters (41) News (21,816) Opinion (649) Pidgin (8) Politics (3,583) Religion (481) Sports (1,233) Stock Watch (12) AMA & Al Jazeera Global Update

 

 

CBN Advert

 

Tuface Idibia Cancels February 6 Planned National Protest

 

APO Newsbreak logo

 

CLASSIFIED ADS

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement



 

 

CLASSIFIED ADS

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!