Gas Reserves: Nigeria FG Solicits Funding of N4 trillion

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According to the Federal Government, N4 trillion will be needed in 10 years to fund the gas expansion plan.

The Federal Government’s energy transition plan includes a plan for gas expansion in order to fulfill its 2060 net zero United Nations mandate.

According to the FG, the net-zero pathway will result in significant net job creation, with up to 340 000 jobs created by 2030 and up to 840 000 jobs created by 2060. These jobs will be primarily driven by the power, cooking, and transportation sectors.

According to NUPRC, 213 gas blocks have been identified as part of the gas expansion plan and are available for investment.

Nigeria’s cretaceous basins offer the country’s oil and gas industry a bright future and a way forward. Adding that further exploration of the other cretaceous basins will deepen and realise the potential for Nigeria to triple its gas reserves by 2050.


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