We Introduced Autogas to Alleviate Pains of Deregulation in Petroleum Industry, Says Buhari
BUHARI
President Muhammadu Buhari Tuesday said the introduction of the National Autogas Rollout Initiative was to alleviate the painful economic effect of deregulation in the downstream petroleum industry.
Buhari who spoke during the virtual launch of the autogas programme at the State House, Abuja, said it was aimed at converting vehicles using petrol to use gas.
In a statement by the President’s Media Adviser, Mr. Femi Adesina, the President called on Nigerians to embrace the use of gas as alternative to petrol.
The statement said, “It is no longer news that the vast natural gas resources, which Nigeria is endowed with, have hitherto been used sub-optimally as a result of a dearth of gas processing facilities and infrastructural connectivity for effective and optimal domestic utilisation.”
He explained that expanding Nigeria’s level of domestic natural gas was important since the country has a proven reserve of about 203 trillion cubic feet (TCF) and an additional 600 TCF.
He added that the deregulation in the downstream petroleum sector was what exposed many to volatilities in price in the international market.
Buhari added that the gas alternvative was affordable alternative to energy, adding that the current economic crisis has made it necessary to use gas.
He added, “Therefore, the rollout of the National Gas Expansion Programme, Autogas Initiative, is coming at the right time, especially in light of global crude oil market fluctuations coupled with the full deregulation of the local PMS market.
“These developments have made it imperative to focus on gas as an alternative fuel to move Nigeria from the conventional dependence on white products for autos and prime-movers of industrial applications, to cleaner, more available, accessible and affordable energy source.
“The outcome will not only cushion the effect of the downstream deregulation that this government has to painfully implement, but also create new markets and enormous job opportunities for our people.”
The President commended Nigerians for their understanding and patience in view of many issues of economic challenges.
He instructed that the Minister of State for Petroleum Resources, Mr. Timipre Sylva, should hand over mass transit buses to the organised labour as the federal government had pledged to ease the transportation challenges being suffered by Nigerians.
Buhari who spoke during the virtual launch of the autogas programme at the State House, Abuja, said it was aimed at converting vehicles using petrol to use gas.
In a statement by the President’s Media Adviser, Mr. Femi Adesina, the President called on Nigerians to embrace the use of gas as alternative to petrol.
The statement said, “It is no longer news that the vast natural gas resources, which Nigeria is endowed with, have hitherto been used sub-optimally as a result of a dearth of gas processing facilities and infrastructural connectivity for effective and optimal domestic utilisation.”
He explained that expanding Nigeria’s level of domestic natural gas was important since the country has a proven reserve of about 203 trillion cubic feet (TCF) and an additional 600 TCF.
He added that the deregulation in the downstream petroleum sector was what exposed many to volatilities in price in the international market.
Buhari added that the gas alternvative was affordable alternative to energy, adding that the current economic crisis has made it necessary to use gas.
He added, “Therefore, the rollout of the National Gas Expansion Programme, Autogas Initiative, is coming at the right time, especially in light of global crude oil market fluctuations coupled with the full deregulation of the local PMS market.
“These developments have made it imperative to focus on gas as an alternative fuel to move Nigeria from the conventional dependence on white products for autos and prime-movers of industrial applications, to cleaner, more available, accessible and affordable energy source.
“The outcome will not only cushion the effect of the downstream deregulation that this government has to painfully implement, but also create new markets and enormous job opportunities for our people.”
The President commended Nigerians for their understanding and patience in view of many issues of economic challenges.
He instructed that the Minister of State for Petroleum Resources, Mr. Timipre Sylva, should hand over mass transit buses to the organised labour as the federal government had pledged to ease the transportation challenges being suffered by Nigerians.
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