With Nigeria’s gas reserves of about 450 QBTU, the most biggest in Africa and its geographical vintage position, the country remains the investment destination on the continent, the Group General Manager, National Petroleum Investment Management Services (NAPIMS), Mr Bala Wunti, said in New York on Tuesday.
Wunti, who represented the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kyari, said the imperativeness of Nigeria’s geographical location with easy access to the Atlantic, Pacific, and Indian Ocean has given it unhindered access to the critical global trade markets.
Wunti said in his keynote address at the Global Energy Transition 2020 held in New York, U.S. where he rallied investors for the development of Nigeria’s gas sector.
Persecondnews.com reports that the summit organized by Reuters news agency, featured key stakeholders and players in the international oil and gas industry.
“There is need to invest in Nigeria due to its geographical vintage position with easy access to the Atlantic, Pacific and Indian Ocean giving it unhindered access to the critical global trade routes and markets.
“A country like Nigeria with about 450 QBTU ready to be delivered. If you want to put it in context today, it can power New York for 120 years. It’s going to be a lot.
“It will unlock a lot of investment and therefore the investing communities are very much cordially invited to this investment destination in Africa,’’ Wunti said.
The GGM of NAPIMS therefore stressed the role of natural gas as Nigeria’s transition fuel.
Speakers at the global event include Patrick Pouyanné, CEO TotalEnergies, Bruce Niemeyer, VP Chevron, Francesco Starace, CEO Enel, Bill Johnston, Australia’s minister for mines and petroleum energy.
Persecondnews also reports that Nigeria has the most extensive gas reserve in Africa and the world’s 9th.
Russa, Iran, Qatar and U.S. have the largest natural gas reserves in the world in that order.
Russa – 24.3 % world share, Iran 17.3 %, Qatar 12.5 % and U.S. 5.3 %.
Wunti had in March 2022 won the ministerial award for outstanding performance at Nigeria International Energy Summit (NIES) which took place at the International Conference Centre (ICC) in Abuja.
The award which was presented by the Minister of State for Petroleum Resources, Chief Timipre Sylva, covered between 2019 and 2021.
A citation on Wunti read at the event, described him as a thoroughbred oil and gas industry professional with 30 years’ experience covering technical, commercial, managerial and executive roles across the entire oil and gas value chain.
A graduate of Chemistry from the Ahmadu Bello University, the citation stated that the awardee holds a Master’s degree in Business Administration. Since joining the NNPC, Wunti has held a several key positions in the Nigerian National Petroleum Company (NNPC) Limited, where he has performed excellently.
Wunti, who is currently the GGM, NAPIMS, had previously served as the Managing Director of the Petroleum Products Marketing Company (PPMC), Group General Manager, Corporate Planning & Strategy and Senior Technical Adviser to five different Group Managing Directors of NNPC, amongst others.