The federal government has stated its desire to boost investment in Nigeria’s natural gas market with its formal activation of the National Gas Transportation Network Code yesterday.
Derefaka told THISDAY in a telephone chat that the new code was encapsulated in the National Gas Policy of 2017. He explained that it was critical to the federal government’s objective in firming up the country’s domestic gas obligation as well as promoting gas export. “It is a major policy thrust of government to unlocking the potentials of gas as a resource and revenue earner for Nigeria,” he further explained.
“The key strategies of the national gas policy are to stimulate the multiplier effect of gas in the domestic economy; position Nigeria competitively in high value export markets and guarantee long-term energy security in the country. Derefaka also stated that the code was designed to ensure that gas pipeline integrity, open access to pipeline and common understanding on metering with a set of rules and protocols designed to govern the operations of gas network players are followed.
He said the code was long overdue, and that the gas market has anticipated its launch and operationalisation.