Gas demand in Nigeria will increase by 50 per cent in the next 30 years, according to the Nigerian Liquefied Natural Gas Limited.
The Managing Director of NLNG Limited, Dr Phillips Mshelbila, while delivering his address at the 13th edition of the Nigerian Gas Association International Conference in Abuja, said the country’s gas demand was growing in tandem with its population.
According to him, the country needs both private and government funding to harness its huge gas reserves.
“It no news that Nigeria has a gas reserves of 209 trillion cubic feet but that would not pull Nigerians out of poverty if we do not do everything we can to bring it out of the ground, get it across to consumers and then use it to industrialisation our economy.
“Demand is growing and will continue to grow by 50 per cent in the next 30 years as the population grows.
Nigeria’s consumption of LPG has increased by over 2,500 per cent from 60,000 metric tons in 2007 to over 1.3 million/MT in 2021.
Mshelbila added that 60 per cent of Nigeria’s over 200 million population currently live in energy poverty, adding that 400,000 women die globally as a result of cooking with wood, charcoal, and other dirty cooking fuels.
According to him, Nigeria would need to set aside about $2bn annually to achieve the Decade of Gas, after which it would need to partner with the private sector for additional funding.
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