Oil has been Nigeria's major source of revenue for many years; at a current price of $65 per barrel, Nigerian crude oil exports is said to record 2.2 million barrels per day
Sarki Auwalu, director of the Department of Petroleum Resources (DPR), says Nigeria’s oil and gas industry is on the path of transitioning to renewable energy.
Auwalu said this during a research and development fair in Bayelsa on Thursday,
He said energy security and transition to cleaner forms of energy remain priorities for the President Muhammadu Buhari-led administration.
According to Auwalu, the national oil and gas excellence centre inaugurated by the president would guarantee energy security for Nigeria.
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“As you are aware, energy security and transition to cleaner forms of energy is a priority for the Buhari administration.
“Let me reassure you, Nigeria’s oil and gas industry is on the path to affordable and reliable energy for all Nigerians, as well as transitioning to cleaner energy in line with net-zero emissions global target.
“To deepen gas penetration across the nation, the year 2020-2030 has been declared the decade of gas to drive the gas expansion programme, increase LPG penetration, gas to Power, gas-based industries, gas to people, autogas etc.
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“These are to serve as enablers for energy security, jobs creation, poverty eradication, a healthy environment, development of facilities in the gas sector, thereby creating opportunities for collaboration and revenue generation for the government.
Auwalu further said the recently enacted Petroleum Industry Act provides a framework for gas aggregation and penalties for gas flaring.
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