• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Tuesday, June 24, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

Nigeria Advocates New Policy Framework To Unlock Africa’s Huge Gas Deposits

by Chika Izuora
3 years ago
in Business
Gas Deposits
Share on WhatsAppShare on FacebookShare on XTelegram

Nigeria has advised Europe to provide appropriate policy framework for their banks to facilitate their investment Africa’s in oil and gas sector.

Advertisement

Minister of state for Petroleum Resources, Timipre Sylva, said, Europe should significantly back investment in gas and provide a policy framework that enables European banks to invest in hydrocarbons across Africa.

He made the comment at the Gastech conference in Milan.

Focusing on gas production in Africa is ‘a no-brainer,’ with 600 million people living without electricity in Africa and 740 billion feet, 22.2 billion meters of gas reserves on the continent, Timipre Sylva said.

Increased gas production, he said, would also help the continent’s 900 million people who live without access to clean cooking fuels, provide massive job opportunities and allow the emergence of a new alternative supplier for Europe, a ‘win-win for Europe and Africa.’

RELATED

Customs CAC Seeks Collaboration, Stronger Partnership With Media

Customs CAC Seeks Collaboration, Stronger Partnership With Media

47 minutes ago
1,500 Delta Residents Benefit From Navy Free Medical Services

‘Shipbuilding: Nigeria Not Ready For Industrialisation’

48 minutes ago

And it is in Europe’s own interest ‘to reduce discriminatory investment rules that the banks are doing,’ Sylva said.

The minister said, he had previously told European officials that they ‘must provide the appropriate policy framework for your banks, so that they can invest in oil and gas.’

The EU’s energy taxonomy, set to come into force in January 2023, is a voluntary tool and a signpost for private investors towards climate neutrality. But investment from large European banks in oil and gas fell in 2021, unlike their north American counterparts.

Speaking from a similar position, Ghanaian energy minister, Matthew Opoku Prempeh, also called for more investment. ‘Africa has been chronically under-invested. No country should be told to stay where it is,’ he added.

The issue of European investment in African hydrocarbons had previously risen to the fore during European Commission president Ursula von Der Leyen’s visit to Senegal in February. Senegalese President Macky Sall said that cutting off funding for new gas exploration would be a fatal blow for emerging African countries.

Also, Indian oil and gas minister, Hardeep Singh Puri, welcomed the shift in the popular narrative away from the ‘deological hang-up about not using or not extracting the gas reserves you have.’

To him, “Gas is a clean fuel, if you have it why don’t you use it,” he said. He added that it is time to “step on the gas on all the plants, whether it is wind, solar, innovations, compressed biogas.”


We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →

Join Our WhatsApp Channel



Tags: Gas Deposits
SendShareTweetShare
Previous Post

Nigeria Rakes In N714bn Revenue From Company Tax

Next Post

PENGASSAN Continues Protest Against Fuel Pipeline Vandalism

Chika Izuora

Chika Izuora

You May Like

Customs CAC Seeks Collaboration, Stronger Partnership With Media
Business

Customs CAC Seeks Collaboration, Stronger Partnership With Media

2025/06/24
1,500 Delta Residents Benefit From Navy Free Medical Services
Business

‘Shipbuilding: Nigeria Not Ready For Industrialisation’

2025/06/24
Lawmakers, Marítime Workers Kick Over NPA’s 50% Federation Account Remittances
Business

NPA Promotes 1,500 Staff, Says Human Capital Strategic To Sustaining Superior Performance

2025/06/24
Lagos To Introduce Electric Boats  – LASWA
Business

Lagos To Introduce Electric Boats – LASWA

2025/06/24
JUST-IN: Aviation Minister Sacks All FAAN, NAMA, NCAA, NSIB, NiMET Directors
Business

Airline Operators Laud Keyamo For Growth Of Indigenous Airlines

2025/06/24
Bear Resurfaces As Equities Investors Lose N639bn
Business

Stock Market Off To Positive Start With N278bn Gain

2025/06/24
Leadership Conference advertisement

LATEST

Katsina, UNICEF Return Over 1,300 Vulnerable Children To Classroom

Skiibii Surpasses 600m Streams As Dapper Music Celebrates Legacy Of Hits, Long-term Collaboration

EU Approves MotoGP Takeover By F1 Owner, Liberty Media

Durant’s Deal, Haliburton Injury Shake Up 2025-26 NBA Title Odds

Eko Int’l Cup: Organisers Confirm Ashanti Kotoko, 2 Other Foreign Clubs For Participation

Cole Palmer Convinced Me To Join Chelsea – Delap

Why Arsenal Can’t Sign Osimhen – Gallas

PFL Africa Event: Ukah, Niedermayr Set For Workout Match In Kinshasa

Bellingham Slams Club World Cup Pitches

Super Eagles Can Still Qualify For 2026 World Cup – Eguavoen

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.