An international oil and gas expert, Alhaji Sadiq Abubakar Adamu, has urged the federal government to appoint technocrats familiar with the working of the oil and gas industry as minister.
In a chat with journalists in Abuja, Adamu said appointing the right caliber of people into strategic positions in the sector would help formulate the right policies and ensure the sector is stirred in the right direction to achieve its full potential.
According to him, Nigeria has the capacity and expertise to transform the oil and gas sector.
Adamu, who played a leading role in the success recorded by Qatar in the development of its oil industry, stressed that with the right political will, Nigeria can turn the challenge of gas flaring into an advantage.
Data from the National Oil Spill Detection and Response Agency (NOSDRA) revealed that between January and November 2022, Nigeria flared an estimated 5.6 billion standard cubic metres of gas valued at $685m.
Nigeria’s natural gas is low in Hydrogen Sulphide and Carbon Dioxide impurities, gas flaring is still estimated at nearly $2m/day. According to data, Nigeria generated 22 million tonnes of LNG yearly as of 2020.
The oil and gas expert emphasized the need for the authorities to stop wasting its huge gas resources by converting it into a source of energy to address the perennial power supply challenge.
Nigeria has been plagued by a lack of constant power supply with over 60 million unable to access electricity.
He said, “Even with the horrors of gas flaring and the few LNG and NGL projects so far developed, Nigeria is yet to tap into two percent (2%) of its proven 192 TCF of natural gas. With global demand currently at 120 TCF and growing, Nigeria could deftly play the go-bride in this huge demand pool with significant benefits for the nation. All that is needed is the political will and expert deployment of management skills to turn this energy of the future to Nigeria’s fattest revenue cash cow and solid foundation for industrialisation.”
Adamu, who is a member of the Multi-Billion Dollars RasGas and Qatar natural Gas team, who led the Committee that structured and developed the Qatar Condensate Refinery, also said, it is time for the country to harness its huge oil and gas deposits for the benefit of Nigerians.