• Expert urges govt to unlock gas potential for economic development

The Nigeria Communications Commission (NCC) has considered lifting the suspended Spectrum Trading Guidelines (STG), 2018, pending the conclusion of ongoing review of the guidelines.

By this development, telecommunication operators could trade spectrum that had been dormant with them, which would consequently ensure services become more ubiquitous.

This followed deliberations on the subject by the NCC’s Board at its Special Board Meeting held on Wednesday, September 16, 2020. The Meeting was preceded by the suspension of the STG by the Board at its 96th Board Meeting of May 18, 2020.

In a public notice signed by its Director, Public Affairs, Dr. Ikechukwu Adinde, said:

“The Board was satisfied that given the state of the consultation, it was possible to lift the suspension of the STG pending the conclusion of the review.

“Accordingly, the Board resolved that the suspension of the STG be lifted and that relevant stakeholders continue to operate the STG, while a new and revised STG is finalised in consultation with the industry.”

NCC had, in a statement issued on May 27, 2020, announced the suspension of STG 2018 for the telecommunications industry and informed all licensed operators, prospective investors, industry stakeholders and the general public of the regulatory decision.

Also, Group Executive Director, Strategy, Capital Projects & Portfolio Development, Dangote Industries Limited (DIL), Devakumar Edwin has asked the Federal Government to deploy new strategies to unlock the potentials and maximise the use of available natural gas resources to improve the nation’s economy.

Edwin, who was on a panel at a session of Bussinessday Newspaper’s Energy Series 2020 Virtual Conference with the theme: “Gas Market Development–The Opportunities, Drivers & Challenges,” said there was the need to find alternative ways to exploit and utilise Nigeria’s natural gas resources to impact positively on the economy.

He stressed the necessity for managers of the oil and gas sector to add value to natural gas to transform Nigeria from exporter of raw materials to exporter of finished products.

“Adding value to natural gas would strengthen the petrochemical industry and facilitate the country’s transition from exporting raw materials to value-added products suppliers. It will boost the economy and resolve unemployment in Nigeria with its multiplier effects,” he stated.