By Onyekachi Eze
Government of Imo State has disclosed its willingness in partnering with any private persons, corporate bodies or as a group in effective utilization of the natural gas reserve deposited in the State.
This was stated by the Deputy Governor, Prof Placid Njoku, when he represented the Governor, Senator Hope Uzodinma at a sensitization program held at Owerri, the State capital yesterday, by the Imo State Investment Promotion Agency, ISIPA.
The sensitization forum for stakeholders on institutionalization of diversification of the Economy using natural gas was held at Rockview hotels, Owerri.
Declaring the Forum open, the Deputy Governor revealed that Imo State under the leadership of Uzodimma is ready to work with investors and respective industries in exploring the massive gas reserve it has.
He remarked that irrespective of the natural gas God blessed Nigeria with, its exploration and utilization remain a puzzle.
Prof Njoku disclosed that in Nigeria currently, Imo State has the highest gas reserve which is yet to be harnessed.
He stated that irrespective of the many relevance attributed to Gas, there is reason to put the usage into check, stressing that illegal operation of it at times pose great threat to lives and property, especially residents of areas it is domiciled.
Njoku opined that government of the day is ready to enter into agreement with any relevant agency, or bodies for the full diversionary purposes.
He maintained that being a natural gas, people should queue into the trend and responsibly.
Earlier in his address, the Chairman, Gas Monitoring Committee, Hon Patrick N. Mgbebu submitted that the essence of the sensitization was to enlighten the people on the need to embrace Gas usage.
Mgbebu attributed gas as a natural resource which is essential in the society and used on daily basis.
He averred that gas is becoming higher more than crude itself, thereby the importance of diversifying its use.
According to Hon Mgbebu, gas is the cleanest and best source of energy.
Part of his address reads, “Your Excellency Sir, you may wish to know that Section 32 part 1 of the third schedule of the 1999 Constitution of the Federal Republic of Nigeria empowers the Revenue Mobilization Allocation and Fiscal Commission (RMAFC) to monitor revenue accruals into and disbursement from the Federation Account. The Commission also has the power to advise the Federal and State Government on fiscal efficiency and methods by which their revenue can be increased.
“ Pursuant to the above powers, it became mandatory for the Commission to monitor the country’s gas sector closely for resource Mobilization of which your state is a key stakeholder and one of the beneficiaries through the payments of the 13% Gas derivation revenue and genera, allocation from the Federation Account.
“Gas is one of the dominant natural resource n Nigeria, with the proven gas reserve of 206.53 trillion standard cubic feet as given by the Nigerian Upstream Petroleum Regulatory Commission, and ranked 9th largest gas reserve in the world, Nigeria has more gas than oil and Imo State is a gas producer and has the capacity to host major gas investments of the Federation.
“Based on the above and because of the Commission’s desire and commitment to find ways of increasing the revenue from the gas sector, the diversification of the economy using natural gas became necessary and imperative.
“The major benefit derivable from the diversification of the economy in the gas sector is the increase in revenue generation and the generation of employment, opportunities to the teeming youths”.
“Your Excellency Sir, Nigeria has set the ambitious goal of remaking its natural gas industry in the coming decade, hoping to use its abundant gas resources to power ” its fast-growing economy as well as benefiting from a growing export business. To succeed, it will require foreign capital, friendly policies and government-industry cooperation. It is hoped that the Imo State Government will provide the enabling environment for potential investors so that the inherent potentials of Gas as the catalyst for achieving economic diversification is fully realized.
“Your Excellency Sir, you may be aware that President Buhari has already declared January 1, 2021 to December 31st 2030, as the ”Decade of Gas Development for Nigeria”. This forum is aimed at creating awareness to the populace most especially business owners, operators of small and medium enterprises as well as power generation companies to the huge potentials available in the gas sector which if fully utilized could serve as another source of revenue to the operators and to the State Government at large. And to position Imo State into government of the Federation by way of generating needed advice to diversify the economy in the gas sector”.
