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Business News of Wednesday, 18 November 2020

Source: Punch

More gas-to-power infrastructure coming through PIB – Lawmakers

The Senate on Tuesday said more gas infrastructure required for power generation would be constructed in various parts of the country going by the provisions contained in the Petroleum Industry Bill.

Deputy Senate President, Senator Ovie Omo-Agege, said based on activities in the natural gas sector, the PIB, when passed, would facilitate the widespread development of gas projects to increase power generation in Nigeria.

Omo-Agege spoke at a colloquium on PIB and host communities organised by Facility for Oil Sector Transformation in conjunction with the OrderPaper Advocacy Initiative.

The senator, who was represented at the colloquium by his Chief of Staff, Otive Igbuzor, said, “With the expected tremendous increase in activities in the natural gas sector that will come with the new bill, there will be massive networking of natural gas infrastructure, particularly upstream and midstream.

Outlining some of the benefits of the PIB to host communities of oil assets, Omo-Agege said it would create a holistic interface with the ongoing deregulation of the petroleum and electricity sectors of the economy.

This, he said, would promote the creation of job opportunities both directly and through petroleum and gas-based industries, as well as other ancillary sectors.

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