The Federal Government Committee on Domestic Gas Price Framework Review on Tuesday presented its final report to the Hon. Minister of State for Petroleum Resources (HMSPR) H.E Timipre Sylva.
In attendance at the occasion were the Permanent Secretary Federal Ministry of Petroleum Resources, Mr. Bitrus Nabasu, GMD NNPC Mallam Mele Kyari, Director DPR, Engr Sarki Auwalu and other stakeholders across the gas value-chain.
It will be recalled that the Committee was Inaugurated on 23 June 2021.
The Federal Government initiated the plans to review the price of gas in the country. This was made known by the Minister of State, Petroleum Resources, Chief Timipre Sylva while inaugurating the Committee on Gas Sector-Wide Review of the domestic Gas pricing framework.
The committee was saddled with the responsibility of evaluating and reviewing the price of gas in the country.
The Minister underscored the need for an appropriate price regime that will be beneficial to the manufacturing industry, Nigerians, and the Gas sector at large.
Chief Sylva said, “Without appropriate pricing, we can’t get it right. We have to ensure that gas becomes affordable. It is sad to note that we sell gas cheaply to investors while the price is high in the domestic market to the extent that some Nigerians say diesel is cheaper than gas”.
Sylva opined that Nigeria has a lot of gas deposit, and that once we are able to solve our gas problems, we would have solved a lot of problems in Nigeria.
Addressing members of the committee, the Minister said the committee was deliberately enlarged and structured to accommodate people with diverse opinions, dedication and commitment.
Sylva had listed the terms of reference of the committee to include; the review of domestic gas price and benchmark, make recommendations for appropriate gas price for the respective gas sectors, make evaluations, and technical suggestions. The committee has thirty days to submit its report.
Sylva also announced that the Flag-off of the AKK Pipeline Construction had been slated for 30th June, 2020 by President Muhammadu Buhari.
Chairman of the committee Engr. Yusuf Usman, Chief Operating, Officer Gas and Power, while speaking on behalf of the committee expressed delight at the privilege given to serve, pledging to deliver in line with their mandate and in record time. He assured the Honourable Minister that the committee will evaluate the price of gas in line with global standards.
