Market forces should determine gas prices for sustained growth ― DPR

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Market forces should determine gas prices for sustained growth ― DPR
Department of Petroleum Resources

By Michael Eboh

The Department of Petroleum Resources, DPR, yesterday, advocated that market forces should be allowed to determine gas prices, so as to guarantee the security of supply and demand of the commodity and also enable it to contribute meaningfully to Nigeria’s economic development.

In a statement in Abuja, Director of the DPR, Engr. Sarki Auwalu noted that the right and market-based pricing of gas is critical, as it would assure producers of returns on their investments and also ensure that the commodity is affordable to consumers.

Auwalu, who was speaking at the Pre- Summit Conference of the Nigerian International Petroleum Summit, NIPS, on the principal theme: ‘The Decade of Gas – Towards a Gas-Powered Economy’ in Abuja, also outlined five critical levers for gas development, especially as Nigeria moves to leverage its abundant gas resources for national growth, diversification of the economy and to use gas as the fuel for…



Source: Vanguard Newspaper