Minister of State for Petroleum (Gas), Hon. Ekperikpe Ekpo, has said Nigeria’s downstream sector continues to face issues related to infrastructure deficit, market vulnerability, supply chain inefficiencies and the need for regulatory clarity.
Ekpo spoke at the first annual downstream petroleum week organised by the House of Representatives Committee on Petroleum Resources (Downstream) at the National Assembly Complex in Abuja yesterday.
He said addressing these challenges requires sustained collaboration between the executive and legislature, underpinned by sound policy direction and consistent implementation as well as enhanced private sector participation, investment in technology and adherence to global practices
The minister said, over the past few years, Nigeria’s downstream sector has recorded remarkable development from the implementation of deregulation policies and liberalisation of the petroleum market to renew private investment in domestic refining and storage capacity.
“We are also witnessing transformation in our gas value chain as part of the sense of urgency of President Tinubu’s renewed Hope Agenda . The Take Care of Gas initiative is driving an ambitious programme to deepen domestic gas utilisation, expand infrastructure and accelerate the transition to cleaner energy, such as compressed natural gas CNG and liquefied natural gas and petroleum gas LPG.
“These efforts are designed to enhance energy accessibility, reduce dependence on imported fuels and create new economic opportunities for Nigerians, from households and small businesses to large scale industries
