Marketers hopeful deregulation, gas policies will bolster refining activities

Nigeria can develop into the refining hub for West and Central Africa, therefore becoming a net exporter of refined products following the Federal Government’s new policies on alternative energy, total deregulation, liberalization of the petroleum downstream sector, and the coming on stream of new modular refineries, Major Oil Marketers Association of Nigeria (MOMAN), has said.

The Association, also said Nigeria has an opportunity to grow big on alternative energy such as gas and solar energy, adding that the country must gird its loins to ensure that green alternative sources are strategically developed, and their usage deepened nationwide for the benefit of Nigerians.

According to the marketers, there must be cheaper and cleaner alternatives to petrol and diesel made available to the public especially as full deregulation of the Nigerian petroleum downstream sector kicks in.

MOMAN also said it was supporting the government’s gas initiatives, and keying into the auto gas space to give Nigerians a cleaner and greener alternative to power their automobiles, homes and other equipment.

It added: “The idea of deepening the use of gas comes at a very auspicious time as we grapple with increasing PMS prices due to the deregulation of the petroleum downstream sector.”

According to the marketers, the need to develop CNG, LPG and LNG as an alternative to petrol and other fuels has never been more critical, especially with the recovery of crude oil prices, and the rising demand for refined products as the winter months approach in Europe.

The statement said: “Using other countries where gas has been adopted and integrated as an alternative auto fuel as case studies, gas requires government support and intervention to take root. The gas value chain is awash with opportunities for new investment, skills development, and enhancement of our local public transportation infrastructure.

“Clear policy directives and legislative framework aimed at generating demand, as well as Customs duty and tax waivers will be required and fast tracked to jumpstart the sector and attract investment into the gas space.”

The statement said the National Gas Expansion Program (NGEP), has further engaged stakeholders across the energy value chain to push the government’s gas agenda following its recent stakeholder’s consultative webinar meeting in association with MOMAN and DAPPMAN.

It added: “In essence, the NGEP is bringing together all relevant government agencies to ensure that the gas space is business friendly and conducive enough to encourage new investors into the sector.

Nigeria, being a gas country must be able to benefit locally from its abundant gas reserves and transfer the advantages to the Nigerian consumer.”

About The Author

LWPLUS Loveworld Plus | Your Christian Faith and Lifestyle Channel

You might be interested in

Leave a Reply

× How can I help you?