Minister of State for Petroleum Resources (Gas), Rt. Hon. Ekperikpe Ekpo, has urged Nigerians to be patient with the President Bola Tinubu-led Federal Government as significant efforts are being made to address the economic challenges resulting from the removal of the fuel subsidy.
Ekpo made this appeal during a courtesy visit to his office at the NNPC Towers, Abuja, by the national leadership of the Nigerian Union of Journalists (NUJ), led by its President, Dr. Chris Isiguzo.
He explained that some businessmen exploited the low cost of subsidized fuel in Nigeria by diverting large volumes to neighboring countries for substantial profits, leaving Nigerians to suffer acute fuel scarcity.
The Gas Minister emphasized Nigeria’s vast gas deposits, currently standing at about 209 trillion cubic feet of proven reserves, with the potential to increase to 600 trillion cubic feet. He highlighted that President Tinubu’s decision to end the fuel subsidy has allowed for increased focus and investment in the gas sector, promoting gas as a more cost-effective, cleaner alternative to petrol and diesel for vehicular fuel.
Ekpo informed the NUJ leadership that licenses have been granted to companies for commercial utilization of gas flared in the country. He also noted ongoing government initiatives to ensure more Nigerians use LPG and CNG for cooking and transportation.
“Mr. President has a good vision for the country. He has been a player in the industry and recognizes that gas is cheaper, cleaner, and safer. Gas has been neglected for years, but with the Petroleum Industry Act (PIA) and other executive orders, we are now focusing on utilizing our natural gas resources,” Ekpo said.
NUJ President Isiguzo, in his remarks, acknowledged the Minister’s impactful leadership over the past year. He commended Ekpo for the successful implementation of new policies aimed at increasing local content and initiating vital infrastructure projects, stating, “Your leadership has set a positive trajectory for the future. These achievements are not only commendable but also provide a solid foundation upon which further progress can be built.”
