Amid the impact of fuel subsidy removal on Nigerians, an energy expert, Philip Jegede, said investors have pledged commitment to collaborate with the federal government to invest in Nigeria’s 209 trillion cubic feet of natural gas reserve as a cheaper alternative.

Jegede, the Group Head of Business Development at Amazon Energy, disclosed this on Wednesday at the ongoing 22nd Nigeria Oil & Gas (NOG) Conference & Exhibition in Abuja.

On Wednesday, the Special Adviser to President Tinubu on Energy, Olu Verheijen, said the development of gas was a priority for the President Bola Tinubu administration.

Meanwhile, Philip said with technologies, gas is a 100 per cent suitable, cheaper alternative to Premium Motor Spirit, popularly known as fuel.

“From all indications looking at the price of Premium Motor Spirit today, which Automotive Gas Oil, AGO is far more than that; technologies have advanced to the extent that we can now talk about gas-propelled vehicles which will be cheaper than PMS. I know the NNPCL have been doing that; we are focusing on collaborative arrangements with NNPCL to develop other gas-based alternatives to fuel for vehicles and generators”, he stated.

In 2021, the federal government launched the $20 billion worth of ‘Decade of Gas’ initiative to harness the country’s gas reserves.

Fuel Subsidy: Investors collaborating with FG to harness Nigeria’s gas reserves – Energy Expert