AMINA HUSSAINI
Nigeria’s gas sector offers US$1 billion annual revenue potentials for the country, the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has disclosed.
The RMAFC Chairman, Elias Mbam, who stated this in a statement in Abuja, said Nigeria can take advantage of the dwindling revenue from oil by investing in the gas sector.
He described as enormous the potentials of gas to Nigeria’s revenue generation and therefore called for proper exploitation of gas in the country.
“In line with the current dwindling revenue from oil, gas economy can be a safe haven for the country.
“Nigeria can generate more than one billion dollars annually from the gas sector if only relevant stakeholders can do the needful,” said Mbam, who was a former Minister of State for Finance.
The RMAFC chairman, who said gas flaring was not in the country’s interest, calls for an end to gas flaring.
“Nigeria as a Nation is blessed with an abundance of gas deposits measuring more than two trillion cubic tons, thereby making it to be the 9th largest country in gas reserves in the world.
“The continuous flaring of gas in the country is not in its best interest.
“Against the health hazard posed to the oil producing communities in Nigeria due to environmental pollution, flared gas in Nigeria needs to be converted and channeled to the economy where more than two million people can be employed while being utilized for industrial purposes such as power generation,” the RMAFC chairman said.
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