Amid Huge Credit Facilities, NPRA Chief Blames Rising Cost of Cooking Gas to Poor Investment
Handlers of the oil and gas sector of the Buhari administration do not appear to be working on the same page for the overall interest of the citizenry. Most times, they do not speak out based on the facts on the ground or offer tangible reasons for some delayed actions.
For instance, Chief Executive Officer of Nigerian Midstream and Downstream Petroleum Regulatory Authority (NPRA), Farouk Ahmed, is attributing the rising cost of cooking gas to poor investment into the gas sector over the years.
Just a little over five weeks ago, Permanent Secretary Ministry of Petroleum Resources, Dr Nasir Sani-Gwarzo, pointed out that Abuja was on track towards investment in the oil and gas sector.
But, Ahmed said during his inauguration as CEO of NPRA, where Gbenga Komolafe was also inaugurated as the CEO of Upstream Regulatory Commission that the skyrocketing cost of cooking gas was due to poor investment into the gas sector.
Addressing journalists after the inauguration, Komolafe said the Commission will seek to not just be a regulator for the upstream, but also a business enabler for the sector.
However, The Guardian reported on September 10, 2021 that the country was on track as regards policies and strategies that will turn the country into Africa’s investment hub in the oil and gas industry.
Sani-Gwarzo, who disclosed this stated that cooperation with other countries was being developed to drive growth in Nigeria’s oil and gas industry. He spoke at Nigeria Oil and Gas Outlook 2021.