(Ecofin Agency) - Nigeria needs no less than $10 billion every year over two to four years to achieve its Gas Master Plan, according to Dada Thomas, the President of the Nigerian Gas Association (NGA).

Such investment would create job opportunities for construction companies, pipeline operators, amongst others and an annual income of about $0.75 billion, he said.

Dada Thomas noted that the domestic gas market has grown over the years, but only 13% out of the total gas production of 7.5 bcf per day is consumed locally, while 43% is exported, 34% used for gas injection and the remaining 10% is flared.

“The growth in production came about largely by encouragement followed by compulsion. The end result is that Nigeria is only ranked 22nd in production of gas in the world, and we found ourselves in a perfect storm sitting in darkness generating less than five gigawatts (GW) of grid power while flaring enough gas to generate two to three gigawatts of electricity and power plants are starved of gas. We have only two gas based industries (GBI) and barely any gas transportation infrastructure,” he added.

Anita Fatunji