President Muhamadu Buhari has hinted his administration’s readiness to pursue Nigeria’s gas revolution agenda to realise an increase in domestic gas consumption, among others in 2020, disclosing that work will commence on the AKK gas pipeline, OB3 Gas pipeline and the expansion of the Escravos – Lagos pipeline in the first quarter of 2020.
The President in his new year message to Nigerians highlighted some of the tasks his administration would be concentrating on the in the new year as well as the remaining years of his second tenure, said that the oil and gas sector industry would be repositioned to be more competitive, attractive and profitable.
Speaking on diversification of the nation’s economy, President Buhari assured Nigerians that new opportunities would be created in agriculture, manufacturing and other long-neglected sectors.
He said, “We have plans to increase domestic gas consumption. In the first quarter of 2020, we will commence work on the AKK gas pipeline, OB3 Gas pipeline and the expansion of the Escravos – Lagos Pipeline.
“Just last week, we were able to approve a fair framework for the USD10 billion expansion of Nigeria Liquefied Natural Gas, which will increase exports by 35 per cent, restore our position as a world leader in the sector and create thousands of jobs.
“We look to create new opportunities in agriculture, manufacturing and other long-neglected sectors. In 2020, we will also realise increased value from oil and gas, delivering a more competitive, attractive and profitable industry, operating on commercial principles and free from political interference.
“The Amendment of the Deep Offshore Act in October signalled our intention to create a modern, forward-looking industry in Nigeria.
“I am confident that in 2020 we will be able to present a radical programme of reform for oil and gas that will excite investors, improve governance and strengthen protections for host communities and the environment,” the President said.