Reps to establish agencies to manage Nigeria’s 187trn gas reserves

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In a move apparently designed to manage Nigeria’s 187 trillion Standard Cubic feet gas reserves, the House of Representatives Committee on Gas, last week, started a public hearing on two bills that would enhance gas management and attract foreign investors into Nigeria, Vanguard reports.

To this end, two bills entitled: “An Act to establish the National Gas Resources Development Agency and Related Matters and An Act to establish the Nigeria Gas Processing, Marketing and Regulatory Board and Other Related Matters,” were presented by Frederick Agbedi, PDP, Bayelsa, to stakeholders in the oil and gas industry.

According to Agbedi; “the bills are seeking clear and simple lines of responsibility and accountability so as not to have this sector intermingled in a web that makes account procedures blurred.” Earlier, in his welcome address, Speaker of the House of Representatives, Mr Yakubu Dogara, who was represented by the Whip of the House, Ado Doguwa, praised the proposed bills and asserted that the gas industry bills were timeous.