Akobo: Nigeria’s gas domestication offers opportunities for manufacturers

Daere Akobo, the Founder and CEO of PE Energy, spoke about the ample opportunities available for manufacturers in Nigeria's gas domestication sector. In a recent interview with CNBC Africa's Akin Obakeye at the Practical Nigerian Content Forum in Bayelsa, Akobo highlighted the potential for manufacturers to participate in the gas sector due to the rising demand and awareness of gas as a cleaner and more affordable fuel option. He emphasized the importance of understanding the value chain in gas production, starting from the wellhead gas and the challenges associated with bringing gas into lower pressure systems. Akobo noted that the opportunities in the gas sector mirror those in the oil sector, with a focus on standardization and regulatory support. He also touched on the significance of sustainability in the industry, with Pana Holdings implementing the 'five P's' approach to drive purposeful and environmentally-friendly business practices. Akobo discussed the role of regulations in fostering economic development and stressed the need for policies to align with socioeconomic goals for maximum impact. In terms of sustainability guidelines, Pana Holdings has introduced sustainable products and social impact programs to reduce carbon emissions and promote environmental stewardship. Akobo also commended the National Content Development and Monitoring Board (NCDMB) for providing a conducive regulatory environment for industry players and called for more collaboration and sectoral linkage to drive growth and innovation in the gas sector. Overall, Akobo's insights shed light on the vast opportunities and challenges facing manufacturers in Nigeria's evolving gas sector, emphasizing the role of regulations, sustainability, and industry collaboration in shaping the future of the industry.