Vice President, Senator Kassim Shettima who made the declaration in Abuja, pointed out that Nigeria’s was a mere 40 per cent of what Egypt earns from gas despite the fact that Egypt’s gas reserves is about 30 percent of Nigeria’s.
The vice president noted that “the story of Nigeria’s gas riches and potential cannot be complete without understanding that we are far off from that potential and have a lot of work to do, as public sector leaders and as captains of industry.“Today, Nigeria earns around $5bn from gas production, a figure that is 40 per cent less than in Egypt, which has around 30 per cent of Nigeria’s reserves.
The number of industries that are gas-based and those that utilise gas for power are many, from fertiliser and methanol to cement and consumer goods,” the VP said.