BERLIN: Nigerian lawmakers have reiterated their commitment to enhancing policies that benefit host communities, particularly within the oil and gas sectors. The pledge was made during an interview at the 2024 World LNG Summit and Awards in Berlin, Germany. The focus is on ensuring that these communities see tangible benefits from critical infrastructure, such as LNG facilities.
According to News Agency of Nigeria, Mr. Dumnam Dekor, Chairman of the House Committee on Host Communities representing Khana/Gokama Federal Constituency in Rivers, emphasized the need for a comprehensive policy review. Dekor highlighted the summit’s insights as reinforcement for amending existing laws to align with global trends. He also praised Nigeria LNG (NLNG) for its contributions to development and efforts in reducing gas flaring.
Mr. Hart Godwin, representing Degema/Bonny Federal Constituency in Rivers, discussed the global rush to extract LNG as nations strive for net-zero emissions by 2050. He stressed the importance of Ni
geria keeping pace with global developments, as the country holds abundant LNG reserves. Despite progress, Godwin noted that Nigeria’s LNG production is currently at only 50% of installed capacity, urging increased investment in upstream energy projects.
Godwin expressed support for President Bola Tinubu’s executive order on oil and gas reforms, which includes tax incentives aimed at enhancing Nigeria’s competitive position in the global LNG market. He emphasized the need for a conducive regulatory landscape and addressing security challenges to attract investment.
The 2024 World LNG Summit, themed ‘Achieving the Balance Between Energy Security and Decarbonisation,’ gathered over 750 attendees, including 200 speakers from 500 companies. The event underscored LNG’s role in addressing energy needs while tackling climate change challenges.