RMAFC Targets $1bn Annual Revenue from Gas

ScratchDhat - Advertisment

By James Emejo

Chairman, Revenue Mobilisation Allocation and Fiscal Commission, (RMAFC), Mr. Elias Mbam, Wednesday said the country could generate over $1 billion annually from the development of the gas infrastructure.

He therefore called for more focus towards gas exploration to enhance revenue generation to the federation account.

In a statement by RMAFC Head, Public Relations, Nwachukwu Christian, Mbam said the potentials of gas to revenue generation was enormous and needed to be properly exploited.

He stressed that the continuous flaring of gas in the country was not in the best interest of the country in view of the abundance of gas deposits measuring more than two trillion cubic tons, making Nigeria the ninth largest gas reserves in the world.

ScratchDhat - Advertisment

The RMAFC boss further observed that flared gas could be converted and channeled towards industrial purposes including power generation, thereby employing over two million people.

ScratchDhat - Advertisment

Leave a Reply

Notify of