Natural Gas Utilization and its Effect on Nigeria’s Economic

Natural gasis a mixture of hydrocarbon gases, non-hydrocarbon gases: Carbon Dioxide (CO2), Hydrogen Sulphide (H2S), and Nitrogen (N2), and sometimes metals, depending on the formation. Due to the different types of components in natural gas, it finds wide application either as an energy source, for power industries, or as feedstock for the chemical and petrochemical industries, or as fuel for domestic usage. Therefore, there are huge benefit in utilizing natural gas. Nigeria, with huge natural gas reserves of above 186 Tcf, can affect positively on its economy via utilization of its natural gas. The Nigeria Gas Master Plan and it Strategic Themes, which is a road map in the utilization of natural gas was examine alongside various major natural gas projects in Nigeria. Generally, the Gas Master Plan is to diversify the economy by allowing local and international investors to invest in the natural gas business rather than flaring it. Potential areas in which natural gas can be utilize to boost the Nigeria economy were listed and analyzed base on Nigeria's natural gas reserves and production history. Results obtained shows that Nigeria is number one in Africa and eight in the world in Natural gas reserves. In production, Nigeria is third in Africa and ninth in the world. However, in the past utilization of the produced gas is minimalresulting in gas flaring, which has affected negatively on the economy and environment. The various area of utilizing this wealth (Natural Gas),found underground, has shown that if the Gas Master Plan is fully adhere to, the Gross Domestic Product per Capital will increase, unemployment rate will reduce to the barest minimum.