Limited, Mr. Chiedu Ugbo has advocated for a re-think in the current practice pricing domestic produced natural gas in foreign currency.
A statement from the company that was released to The Nation in Abuja, quoted him as saying: “I understand that producers have their own arguments but unfortunately, this is Nigeria and if Nigeria has over 200tcf in proven gas reserve, why is it so difficult to get gas? “ According to him, renewables may be the future of energy but as of now, Nigeria needs natural gas to power heavy industries.In his view, some industries like those in the steel sector and some others cannot transit immediately to solar energy. They still need natural gas.
“If we can find a means to reduce cost of gas at least for domestic consumption, that would help a lot. Gas should not be denominated in US dollar and then exposed to vagaries in the forex market. He then nonetheless assured his audience that NDPHC will continue to strive to ensure that Nigerians get electricity supply despite the challenges.
Source: News Formal (newsformal.com)
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