Imo State governor, Senator Hope Uzodimma has expressed the willingness of the state leverage on its huge gas deposits to revive its economy.
Gov. Uzodimma spoke at the three-day sensitization forum on institutionalization of diversification of the economy using natural gas which ended in Owerri on Friday, March 25.
The forum was organized by the Revenue Mobilization Allocation and Fiscal Commission (RMAFC).
The governor, who was represented by his deputy, Prof Placid Njoku regretted the continued flaring of gas in the country with its attendant negative impact on health of the citizens and environment.
He therefore expressed delight at the current advocacy to enhance and institutionalize as well as diversify the use of natural gas in the country in general and Imo State in particular.
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The governor said: “In 2021, Nigeria natural gas reserve was estimated to run into 206.53 trillion standard cubic feet as given by the Nigerian Upstream Petroleum Regulatory Commission, and ranked 9th largest gas reserve in the world, with Imo State holding the largest reserve among other Nigeria states.
“Unfortunately, Nigeria natural gas has not been significantly harnessed as currently much of the gas is still extensively flared with serious negative consequences to human health and the environment.
“Imo state, therefore is happy for this conscious advocacy to enhance and institutionalize as well as diversify the use of gas in Imo State and Nigeria at large to significantly take advantage of the latest major alternative option for the growth of the economy”.
He pledged that the state will partner with federal government and private sectors as well as institutions to harness the natural gas in order to exploit the gas resources in the state.
According to the governor, the partnership will help to significantly reduce or eliminate gas flaring and develop the gas industry, increase youth empowerment and economic growth.
Gov Uzodimma submitted that effective and extensive utilization of natural gas in Imo state is a cardinal vision of his government to improve the livelihood of the people.
The Chairman, Gas Monitoring Committee Hon Patrick N. Mgbebu in his keynote address urged Imo State government to provide the enabling environment for potential investors so that the inherent potentials of gas as the catalyst for achieving economic diversification is fully realized.
He stated that the forum is aimed at creating awareness among the populace especially business owners, operators of small and medium enterprises as well as power generation companies to the huge potentials available in the gas sector which if fully utilized could serve as another source of revenue to the operators and to the state government.
The programme featured paper presentation on different topics such as “Harnessing the Abundance of Nigerian Natural Gas Resources for revenue generation and The role of Nigeria Gas Marketing Company in Enhancing Economy.
In his paper, Prof Festus Awala noted that Nigeria ought not to be a borrowing nation if she has harnessed her vast natural gas deposit.
According to him, “Imo State is blessed with abundant natural gas. Assa in Ohaji Egbema has a huge deposit of gas. It is the lack of planning, management and policy that led to the under tapping of gas in Imo.”
He emphasized partnership with investors and institutions to harness the abundant gas deposit in the state.
According to Awala; “If we develop our gas resources, we can change the economic narrative in Imo state and Nigeria at large. We are depending so much on crude oil and diesel. Gas reduces cost of production, it is economic friendly, it is a clean fossil fuel. It is useful for power plant.”
In his own paper, Barrister Justin Ezeala, enumerated the number of jobs executed by the Nigeria Gas Company in the area of natural gas development.
He maintained that the place of natural gas cannot be overemphasized because it had a lot of advantages.
A participant, Engr Nwabueze Akoboundu regretted that Imo State lacks gas in midst of huge gas deposit and urged government to address the issue of high cost of gas in Imo state.
in his remarks, the CEO of Millennium Collection, Tony Izunobi called for the provision of an enabling environment and infrastructure that will bring investors and engender the ease of doing business in Owerri, Imo State.
