Saturday, April 13Inside Business Africa
Shadow

Tag: Ibe Kachikwu

Unlocking Nigeria’s economic possibilities via gas infrastructure

Unlocking Nigeria’s economic possibilities via gas infrastructure

Energy
For Nigeria and other African countries to minimize the effects of unstable oil prices and reduce dependence on oil, key investments must be geared towards developing Liquefied Natural Gas (LNG) infrastructure to encourage the adoption by local industries. Stakeholders and investors had raised concerns about the level of infrastructural development in the country, especially as it relates to LNG and government’s gas commercialisation agenda. According to the latest data from the Department of Petroleum Resources (DPR), Nigeria produces 8.3bsfcd of gas despite gas reserves of 203tcf. The country exports 41 per cent of its gas; uses 31 per cent in oil fields and plants for fuel, gas lift and re-injection; while 18 per cent is utilised in the domestic market for power and 10 per cen...
Nigeria-Saudi Arabia investment plan in limbo as FG fumbles

Nigeria-Saudi Arabia investment plan in limbo as FG fumbles

Economy
A much trumpeted oil and gas investment plan between Nigeria and Saudi Arabia that would have addressed key challenges in the downstream sector, including establishment of refinery has been left in limbo. The development, hinged on the inability of the Federal Government to follow up after endorsing a draft pact by the Kingdom of Saudi Arabia, The Guardian learnt yesterday, messed up the opportunity. The expectations were that if the deal became feasible, Nigeria could address oil and gas infrastructure shortfall hovering around N18 trillion and stabilise economic development, particularly by blocking leakages, addressing pipeline infrastructure and vandalism challenges as well as spurring industrial activities through gas sector development. When The Guardian contacted the Presi...
Nigeria-Saudi Arabia investment plan in limbo as FG fumbles

Nigeria-Saudi Arabia investment plan in limbo as FG fumbles

Economy, Uncategorized
A much trumpeted oil and gas investment plan between Nigeria and Saudi Arabia that would have addressed key challenges in the downstream sector, including establishment of refinery has been left in limbo. The development, hinged on the inability of the Federal Government to follow up after endorsing a draft pact by the Kingdom of Saudi Arabia, The Guardian learnt yesterday, messed up the opportunity. The expectations were that if the deal became feasible, Nigeria could address oil and gas infrastructure shortfall hovering around N18 trillion and stabilise economic development, particularly by blocking leakages, addressing pipeline infrastructure and vandalism challenges as well as spurring industrial activities through gas sector development. When The Guardian contacted the Presi...

Notice: ob_end_flush(): failed to send buffer of zlib output compression (0) in /home/insidebu/public_html/wp-includes/functions.php on line 5373