Alison-Madueke Bags Howard University Centennial Achievement Award

The Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, over the weekend declared that Nigeria’s oil industry has the potential to alleviate global supply issues if fully developed to assume its natural role as a major strategic lever in the global economic and security space.
 
Mrs. Alison- Madueke hinted that in the years ahead Nigeria will expand its Liquefied Natural Gas (LNG) capacity from current 26 Million Tones Per Annum, (MTPA), with additional 20 MTPA through the planned Brass LNG. The Minister made the submission while delivering a memorial lecture on, The Strategic Importance of Nigeria’s Oil and Gas Industry to Global Security and World Global Economy, at the Howard University, in Washington DC, United States.
 
Alison-Madueke, an alumnus of the University, was also conferred with the Centennial Achievement Award by the College of Engineering, Architecture and Computer Sciences of the Howard University. In the presentation, the Minister argued that Nigeria’s oil and gas reserves, estimated at 37billion barrels and 187 trillion cubic feet, respectively, and its leading role in the regional and continental spheres placed it in a position to “provide a low hanging mechanism to address global security challenges. She noted that with energy in the heart of every economic, environmental and development issue, it has inextricably become linked to global security and the economy, adding that current volatility and exceptionally high energy and commodity prices exacerbate current global financial crunch and economic meltdown.
 
Mrs. Alison-Madueke noted that issues relating to rising energy demand and increasing concentration of supply, high oil and gas import bills, rapidly progressing climate change, food security and global terrorism have equally compounded the issues. As a result she maintained that the oil and gas industry is cardinal to global economic stability and security, adding that these called for “expansion and diversification of…

Read the full article from the Source…

Leave a Reply

Your email address will not be published. Required fields are marked *