Revealed! What Obasanjo planned to do with Nigeria will shock you

– Obasanjo said he intended to have cars run on gas
during his regime
– The former president said the development of natural
gas in Nigeria was part of his plan
– He noted that he gave out licenses to companies in a
bid to see that this goal was achieved
– Obj said if his move was acted upon, then Nigeria
would have benefited much from having its cars run on
gas
Chief Olusegun Obasanjo made the disclosure on Sunday,
June 12, during a courtesy visit by the management of
Nipco Plc to him at his Presidential Hilltop residence in
Abeokuta, Ogun state

Olusegun Obasanjo, former president of Nigeria says he
planned to have cars run on gas in Nigeria.
He said his intention during his regime was to develop the
nation’s natural gas for vehicles to use and reduce
dependence on imported petrol.
Obasanjo said he gave out licences to companies in a bid to
achieve this, adding that by now, 50 per cent of the vehicles
in the country should have been running on gas.
In 2006, the Obasanjo administration gave out licences to
three companies, Nipco Plc, Contact Global and Global
Steel, for the development of compressed natural gas for
vehicles.
But it was gathered that only Nipco, which later went into a
partnership with the Nigeria Gas Company to form Green
Gas Limited, had invested significantly in the project since
then.
READ ALSO: Niger Delta: SERAP slams FG, powerful oil
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While reacting to comments by the Managing Director,
Nipco, Mr Venkataraman Venkatapathy, Obasanjo said:
“When I gave the licence in my time, the idea was to use
what we had and by now, we could have put half of all the
vehicles on gas.”
Venkatapathy had earlier said the replacement of petrol by
the CNG would save Nigeria the much-needed foreign
exchange on importation of petrol.
He said: “The CNG is a superior auto fuel alternative to
liquid fuels mainly petrol and diesel, specifically for
countries like Nigeria, which is blessed with abundant (over
186 trillion cubic feet) availability of natural gas that
remains untapped.
“To replace 20 per cent of the current petrol consumption
of Nigeria, natural gas required is less than five per cent of
the total domestic gas consumed currently and less than
one per cent of the current gas production. Foreign
exchange saved will be close to $2bn.”
According to him, in Benin City, Edo State, over 4,000
vehicles run on the CNG which resulted in replacing 20
million litres of petrol from 2012 to 2015 and forex savings
of over $9m.
He said Green Gas had developed nine operational CNG
stations, with three stations under completion and five
under construction.
The Punch reports that a former special assistant on
petroleum resources to ex-President Obasanjo, Dr
Muhammed Ibrahim, who was on the Nipco team, said, “I
was one of the team members when President Obasanjo
was in office in 2006 that initiated the full concept of
development of gas for vehicles and other applications in
the country.
“It was during his regime that President Obasanjo awarded
three licences to three companies to invest in the
promotion and diffusion of Compressed Natural Gas for
vehicular application in the country.
“But because of the capital-intensive and high-tech nature
of the project, only one company today after 10 years has
invested millions of dollars in the project such that the
entire Benin City is encircled with a network of gas
pipelines with about seven CNG gas stations providing the
CNG to more than 4,000 vehicles.”
He said the company had constructed the largest CNG
station on the African continent in Ibafo, Ogun state.
In a similar vein, President Muhammadu Buhari has set
new target for the production of crude oil, as part of efforts
to reposition the country’s oil sector.
READ ALSO: Niger Delta: SERAP slams FG, powerful oil
companies
The Nation reports that the president, who was represented
by Vice President Yemi Osinbajo at the sixth African
Petroleum Congress and Exhibition (CAPE VI) in Abuja,
disclosed that government has commenced the process of
cutting production costs to boost exploration in order to
achieve a production level of about 2.8 million barrel per
day (mbpd).
President Buhari said the quantum leap would be 30%
increase of production level of 2.4 mbpd being pursued. “In
Nigeria, as part of our strategies to reposition the oil
industry, this administration has commenced the process
of implementing carefully conceived initiatives, to reduce
production costs and encourage efficiencies in oil
exploration so as to achieve a 30 per cent increase in daily
production levels (to about 2.8mbpd),” he said.
The president further revealed that the country is working
on ways to reduce gas flaring through Joint Venture (JV)
contracts that will expand infrastructure and deploy
liquified natural gas (LNG) for domestic and industrial uses.
He reminded the ministers of energy of the 33rd Ordinary
Session of the Council of Ministers of African Petroleum
Producers Association (APPA) that in processing Africa’s
hydrocarbon resource, environmental issues should be
serious considered.
The president stated that globally, no fewer than 150 billion
cubic meters of associated gas (AG) is flared yearly, adding
that out of this figure, Africa flares an estimated 40 billion
cubic meters annually.

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