Gas industry in Nigeria to be improved by the proposed 2020 regulations – stakeholders

Rep of HMSPR, Engr. Moses Oladayo said PIB when passed to law will address position of GACN and others in Oil and Gas industry

Stakeholders in Nigeria’s Gas sector have posited that operations in the industry will be made more effective once the proposed 2019 Gas Resolutions is passed into law and becomes operational. This submission was made at an event christened: ‘Stakeholder’s Engagement for the Review of the Mandate and Structure of the Gas Aggregation Company of Nigeria (GACN): Phase II. The event which held at the Petroleum Training Development Fund (PTDF), Abuja on Tuesday, 3rd March, 2020 had in attendance stakeholders in Nigeria’s gas sector.

Speaking at the event, Engr. Moses Olamide, who is Chief of Staff to the Hon. Minister of State, Petroleum Resources, Chief Timipre Sylva said that government will prescribe what will become of the Gas Aggregation Company of Nigeria (GACN) in the Petroleum Industry Bill (PIB) and that an Executive Order to that effect will soon be out. For effective delivery of the mandate of the GACN, Engr. Olamide suedfor a separation between Policy, Operations, and Regulation in the management of Nigeria’s gas.

In his remark, a key note speaker at the event, Dr. Tim Okon opined that 12 years after the ‘2008 Pricing Regulations’ which spelt out the Powers of the GACN was birthed, ‘Aggregation’which is at the heart of mandate of GACN should commence. He stated further that the intention to review the mandate of GACN is to ensure transparency in the industry. In order to ensure the efficiency of GACN, Dr. Tim Okon recommended that the organization must be independent; its funding must not be subjected to manipulation or undue inference, and must not act impartially while its transactions should be done in a seamless manner.

In his submission, the Managing Director of GACN, Mr. Lekan Ogunleye said that the GACN is one of the most important tools to drive and achieve the economic agenda of government and the gas sector. He listed some of the success recorded by the GCAN include the execution of over Twenty-One (21) Gas Sales and Aggregation Agreement (GSAA) among others.

Stakeholders at the event include Peter Gheji (PTDF), OkeyNba (SEPLAT), Nath Oyetogun (SEPLAT), Daramola Olanrewaju (SHELL), Lekan Ogunleye (MD, GACN), TajiOgbe (NGA), James OKereke (CNL), Yetunde Odejobi (GACN), Tayo Rhodes-Vivour (GACN), Cladius Chijoke (GACN) and Michael Akpoyibo (NGMC).

Others are Officials of the Ministry of Petroleum Resources like Chibo Enobong, Adebowale F.A, Bashiru Bello and Idowu Adekunle.

Yet others include representatives of NNPC like Barka Balami, Total’s Mariam Shehu, Axxela’s Chineye Nwosu.

Report by Rotimi Sanusi, Senior Information Officer, For Head of Press, Ministry of Petroleum Recourses.