Indigenous gas companies in Nigeria are struggling due to a ₦2.7 trillion government debt for gas supplied to power generators. The Independent Petroleum Producers Group (IPPG), led by Abdulrazaq Isa, urged the Minister of State for Petroleum Resources to address the issue. Despite government promises to gradually clear the debt, the unpaid bills have caused supply disruptions and prolonged power outages earlier in 2024.
IPPG Chairman Abdulrazaq Isa urged the Federal Government to address issues like gas pricing, flare penalties, legacy debt, infrastructure, and LPG availability to boost upstream investment. He thanked President Tinubu for appointing IPPG members to key industry roles and praised Minister Ekpo for progress in the gas sector. Ekpo acknowledged IPPG’s vital role in job creation and economic support, pledging government backing and calling for closer collaboration with the group and regulators.
The meeting included other key IPPG leaders from major oil and gas companies.Also present were officials from various companies, including Trost Amos of Renaissance Africa, Chikaodili Okoye and James Makinde of Seplat Energy, Sunday Okunbor of ND Western, Nkiruka Ajah of Waltersmith, and Oyeleke Banmeke from the IPPG Secretariat.
