Over the years, many of the nation’s gas-fired power plants which are responsible for over 70% of the energy being generated continue to suffer gas shortages.
Nigeria has around 181 trillion cubic feet of proven gas reserves plus much more in undiscovered gas resources. But despite having the largest gas reserves in Africa, only about 25% of those reserves are being produced or are under development.
The country currently has around 7,000 megawatts of installed electricity generation capacity but less than 5,000MW is often in operation. Total electricity generation stood at 3,659.60MW as of 6am on September 25, the latest data from the Federal Ministry of Power, Works and Housing showed. The nation has three hydropower plants and 24 gas-fired plants.
National gas production stood at 241.63 billion cubic feet in April, translating to an average daily production of 8.054 billion standard cubic feet per day, representing 1.34% decrease compared to March statistics, according to the Nigerian National Petroleum Corporation’s latest monthly report.
The President, Nigerian Gas Association, Mr Dada Thomas, said last week that turning natural gas into a profit-making venture required huge investments in infrastructure that would address the five component areas of gas availability, gas affordability, deliverability, funding and the legal and regulatory framework.
Source: The Punch