Gas Price Reduction: Sylva Inaugurates Committee

Hon. Minister of State for Petroleum Resources, Timipre Sylva has inaugurated the committee on Gas Sector-wide Review of the domestic Gas pricing framework charged with evaluating and reviewing the price of gas in the country.

Speaking at the low-key, partly virtual occasion, Sylva emphasized the need for an appropriate price system which would be of great advantage to the manufacturing industry, the Nigerian populace and would certainly boost the gas industry home and abroad. ‘Without appropriate pricing we can’t have it right. We have to ensure that gas becomes affordable. That is the only way our country can strive. It is sad to note that we sell gas cheaply to investors while the price is high in the domestic sector to the extent that some Nigerians say diesel is cheaper than gas’

Sylva continued ‘Once we solve the issue of gas in Nigeria we would have solved a lot of problems in Nigeria. Luckily for us gas is something we have in abundance’

He further stated that the committee was structured to accommodate different people with different opinions. ‘I think it is for a good reason that this committee is as large as it is. Members of the committee have been chosen bearing in mind the need for diverse opinions, commitment and dedication’

He disclosed that members of the committee are to review domestic gas price and benchmark, make recommendations for appropriate gas price for the respective gas sectors, make evaluations, technical suggestions with a turnaround time of thirty days.

Sylva also announced that the Flag-off of the AKK Pipeline Construction had been slated for 30 June 2020 by President Muhammadu Buhari.

In his remarks during the event, the chairman of the committee, Mr. Yusuf Usman, Chief Operating Officer Gas and Power, expressed delight at the honour while pledging to deliver on the duties assigned the committee.

‘’We will do it with vigour. We recognise this is an enormous task before us. We assure the minister that we will look into it and evaluate the price of gas in comparison with global standards.

“We will discharge our duties with passion and drive to fruition the aims of the committee,” he pledged.