11-06-08 The quantity of untapped gas in the country is estimated to be about 186 tcf. This figure was revealed by the Director, Investors' Relations of the Nigerian Investment Promotion Commission, Dr Gaji Bello.
According to Bello, who spoke in Abuja when a delegation of an American firm, Kairos Development International visited the NIPC office, with such quantity, Nigeria could climb up the ladder from its current 7th position when the gas production finally comes on board.

Noting thing that the quantity of gas in the country is much bigger than that of the oil, Bello said, "We have about 186 tcf of untapped gas. We are not talking of oil. We are just talking of gas. And you can imagine just what we have. We are known for the oil production. We are the 6th oil producing nation in the whole world. In the gas production, we are currently in the 7th position."
"So, by the time the gas plant or gas production actually comes on board, we are likely to be moved up the ladder to either the 3rd or 4thpositions after the Russia, Qatar and perhaps Iran. But Nigeria is likely to occupy one of those positions in the world," he disclosed.

Bello, who stood in for the Executive Secretary of NIPC, Engr. Mustapha Bello, also welcomed the American investors' intention to invest on hospitals and schools, adding that the "there is just more than enough space to accommodate you".
While further wooing the investors to waste no time to invest in the country, the Director declared that the first five years of the company's operations in the country would be tax free.

Earlier, the President and CEO, who also doubled as the leader of the delegation, Dr Alex Itkin, revealed his company's interest to assist the Federal Government provide answers to the questions surrounding the nation's power sector by converting waste to electricity.
Itkin, who disclosed that a re-cycling plant would be established in Lagos, explained that the availability of the garbage "resources" in the commercial city informed his company's decision to choose the state.