Group Executive Director Gas and Power of the Nigerian National Petroleum Corporation (NNPC), Dr. David Ige, on Wednesday said the country would save as much as $20 billion annually in foreign exchange by reducing importation and increasing local manufacturing.
Ige, who spoke at a session hosted by the Petroleum Technology Association of Nigeria (PETAN) at the ongoing 2015 Offshore Technology Conference (OTC) in Houston, Texas, said increasing support for the industrial sector by providing more gas would reduce the impact of global fall in crude oil prices.
Being a country blessed with huge natural gas resources, he said Nigeria could benefit from the low oil prices rather than becoming a victim. Read more
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