“We are engaging the banks on the management and disbursement of the CVFF because they are the ones who have the professional know-how in fund management and this would help us in the reduction of risk in order to avoid the same mistakes of the Ship Acquisition and Ship Building Fund,” Jamoh said.
While acknowledging some teething challenges experienced by the NSDP scholarship scheme in the earlier Phases, the NIMASA DG noted that all grey areas have been addressed to ensure a better deal for both beneficiaries and the Nigerian Government.
The workshop provided data-driven insights into the sector's growth potential. Stakeholders emphasized the need for continuous industry engagement, collaboration, and public sensitization to aid public buy-in on new policies by the government.
According to NLNG’s Managing Director and Chief Executive Officer, Dr Philip Mshelbila, the Company had signed an MoU with UNEP in the last quarter of 2022, stating that the signing demonstrated the Company’s commitment to reduce methane emissions from its operations as part of its decarbonisation journey.
The new regulations are: Midstream and Downstream Petroleum Operations Regulations, 2023, Assignment or Transfer of License and Permit Regulations, 2023; Petroleum Measurement Regulations, 2023;. Gas Pricing and Domestic Demand Regulations, 2023; Petroleum (Transport and Shipment) Regulations, 2023 as well as Natural Gas Pipelines Tariff Regulations, 2023.
