By Folashade Olorunfemi
The Edo state government through the Ministry of Mining has announced its readiness to partner with the Federal government and private stakeholders in harnessing its Oil and Gas resources responsibly, attract meaningful investments, and contribute to Nigeria’s sustainable economic future.
This was revealed through an affirmation made by the Commissioner for Mining, Andrew Ijegbai, during a one-day webinar hosted by the Ministry of Mining in collaboration with the Gas Investment Forum, with the theme “Unlocking Nigeria’s Gas Potential with a Focus on Edo State”.
While giving his keynote address, Ijegbai reaffirmed the Ministry’s commitment to maximize economic growth in the mining, oil and gas sector, through collaborations, and sustainable investments, ensuring the alignment of every project with both State and National priorities. He urged stakeholders to transform the shared ideas from the interaction into innovative solutions capable of turning opportunities in the oil and gas sector into tangible outcomes.
Ijegbai also mitigated the challenges posed by the exclusivity of the oil and gas industry, highlighting measures taken by Edo State Governor, Senator Monday Okpebholo, to make investments easy.
He added, “Some of the challenges we have as a Ministry is the exclusivity of this sector, but we are trying to find a way to make it work for investors. We will come up with Special Purpose Vehicles (SPVs) to gain right from the Federal Government to ease investment in the State’s oil and gas sector as we have done with mining exploration”.
The commissioner also identified some measures taken by the state government to ease the process, these include, the creation of a taskforce in collaboration security agencies to curb illegal mining, streamlining the acquisition of mining licenses to fast-track investment processes, profiling investors and ensuring involvement in Community Development Agreement (CDA) implementation.
In his remarks, the Permanent Secretary of the Ministry of Mining, Mrs. Ese Martina Omoruyi, noted that the webinar was designed to create a pathway in the oil and has industry, while harnessing its potential, stressing that it also served as a platform to attract investors to the state, which would generate revenue, empower the youths and facilitate a total development in Edo State Oil and Gas Sector.
Similarly, Prof. Yinka Omorogbe, a leading expert in Energy Law and Chief Executive Officer of EtinPower Limited, emphasized the timeliness of tapping into the Gas Sector as the world transitions from hydrocarbons to renewables, explaining that gas will play a significant role in driving industrialization. She urged Edo State to use its strategic position as a hub with access to gas pipelines to redefine its role in Nigeria’s gas landscape.
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