Engineer Michael Oluwagbemi, Programme Director and CEO of the Presidential Compressed Natural Gas Initiative (PCNGI), has voiced strong criticisms against Nigeria’s current fuel importation practices.
He made this known on Friday in Port Harcourt during the South-South Stakeholders’ Engagement meeting of the Compressed Natural Gas programme.
During the meeting, Oluwagbemi emphasized the irrationality of exporting natural gas to Japan, only to import more expensive petrol in return.
“It doesn’t make sense that we should be exporting our natural gas to Japan, then Japan now exports petrol gas to us. And we now import petrol that is more expensive than natural gas to fuel Japan’s cheap cars that Japan has sent to us because they have our natural gas,” Oluwagbemi declared. “It is more like a definition of madness to keep doing the same thing and expecting a different result.”
Highlighting the need for a paradigm shift, Oluwagbemi explained that the Nigerian government, led by the president, is committed to ending this unsustainable practice. “The president said no, we cannot continue doing the same thing. We will stop subsidising poverty, importing unemployment, and exporting jobs. We will now focus on using our own natural gas to drive our own sector.”
This strategic move is aimed at harnessing Nigeria’s abundant natural gas resources to stimulate domestic growth and reduce reliance on imported fuel. The expected outcomes include job creation, economic stability, and a more robust local industry.
Oluwagbemi assured that this policy shift would bring tangible benefits to ordinary Nigerians. “In terms of how this now translates to the common man, this translates to cheaper cost of transportation. Mr. President is determined that the palliative measures are in place. The initial funding for this came from palliative. And our work is very straightforward.”
The initiative’s approach involves reallocating resources to improve Nigeria’s energy infrastructure, ensuring that natural gas is utilized efficiently within the country. This will not only make transportation more affordable but also boost overall economic productivity.
