Address Overlapping Laws, Regulations in Gas Sector to Unlock Investment Potential – NGA
The Nigerian Gas Association (NGA) has called for urgent reforms to address overlapping laws and regulations in the gas sector, which continue to increase the cost of doing business in the sector.
The president of the association, Mr. Akachukwu Nwokedi, who stated this at the just concluded Nigeria International Energy Summit (NIES) 2025, noted that conflicting laws, multiple taxation, some denominated in foreign currencies are stifling growth and discouraging much-needed investments in the upstream, midstream, and downstream segments of the gas industry.
With the theme “Aligning Nigeria’s Gas Industry with Africa’s Energy Evolution, Nwokedi commended the Federal Government for its significant strides in advancing the gas sector, mainly through the actualisation of the Petroleum Industry Act (PIA) and enacting forward-looking Executive Orders. The NGA however emphasised the need for further regulatory streamlining.
The NGA praised President Bola Ahmed Tinubu’ administration for its commitment to prioritising gas as a key driver for the realization of Nigeria’s strategic economic goals.
Nwokedi also extended recognition to the Honourable Minister of State for Petroleum Resources (Gas), the Special Adviser to the President on Energy, the Ministry of Petroleum Resources, the Upstream and Midstream regulators, GCEO NNPCL, and other industry leaders for their active roles in creating the enabling environment for the sector.
ALSO READ:
- Lenders Push Back as Failed Pipeline Sale Is Quietly Revived
- ENERGY TIMES Award Holds Today in Lagos
- Energia Appoints Oladimeji Bashorun as CEO
- ENERGY TIMES to honour Adelabu, Yahaya, Attah, Others April 17
- Artemis II Crew Splashes Down from Moon into Pacific Ocean at 1:08 a.m. Nigerian Time
The NGA President also highlighted the importance of synchronised investments, supported by integrated policies and financial frameworks, to maximise the benefits of Nigeria’s Decade of Gas initiative.
“What has become increasingly clear is that Nigeria’s Decade of Gas is also Nigeria’s Decade of Investment. This is due to the necessity of significant investment inflows within this relatively short period of time. This requires a measure of sustained transparency, confidence and interdependencies between investors and stakeholders such that investments in the upstream, midstream and downstream can move in a synchronised manner in order to enjoy optimal utilisation and returns”, he said.
