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HomePoor governance preventing investment in Nigeria’s mega gas projects – SenatePoor governance preventing investment in Nigeria’s mega gas projects – Senate

Poor governance preventing investment in Nigeria’s mega gas projects – Senate

In the opinion of Bassey Albert Akpan, a ranking law maker in Nigeria’s Upper House of Legislature, there has been an increase in supply of natural gas into Nigeria’s domestic market, but there has been little progress by way of investment in “mega-projects”.

According Africa Oil + Gas Report, the Chairman, Committee on Gas Resources in the country’s Senate, argues that “the failure to enact the downstream Gas bill creates the perception that Nigeria’s doors are not sufficiently open for business”. Akpan contends that this particular lack, “advances the view that regulatory frame work remains unclear and inconsistent”.

Akpan said that the Senate “is making frantic effort to review the industry laws and appropriations” and ensure the sector is appropriately resourced. Calling for an interim measure “pending the establishment of a substantive sector Regulator”, Akpan declared: “The activities of Gas Aggregation Company of Nigeria (GACON) are no longer relevant to the realities of what operators face in the industries”.

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