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Economy: Group hails NNPC’S shift of attention from oil to gas

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NNPC secures $1.16m grant from USTDA for 1,350mw power plant
NNPC

Ben Agande, Kaduna.

A pressure group, the Good Governance Support League (GSL) has said that the gradual shift in attention from oil to gas by the leadership of the Nigerian National Petroleum Corporation in its operations will reflate the economy and place it in a surer footing

In a statement made available to journalists in Kaduna, the chairman of the group, Bamidele Ogunfolaju said the “shift in paradigm to strengthening activities in the Gas sector is a radical break from old culture of overdependence on oil.

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According to him, the “latest strategic focus of the NNPC in the Gas sector has the potentials to give a major face-lift to the nation’s economy, especially in an era when majority of the nations of the world are embracing economic strategy diversification as tool for giving boost to both their national economies and foreign reserves”.

He said the choice of the leadership of the NNPC has given further impetus to the government’s new economic direction with an emphasis on diversification and less dependence on oil.

Mr Ogunfolaju said the latest moves in the Gas sector by the Federal Government has brought out the previously unexplored opportunities offered by Nigeria’s partnership with the Russian government, adding that the new management at the NNPC, “has broken an enviable record in generating new economic growth ideas for the Gas sector”.

He called on heads of other strategic sectors in the economy to “think outside the box and devise ways of creating other sources of revenues for the country for the benefit of the teeming population of the country. This is the only way that jobs will be created and the unemployment situation in the country will be addressed” he said.

Vanguard

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