The Group Chief Executive Officer of the Nigerian National Petroleum Company (NNPCL), Mele Kyari, has said that Nigeria is not transitioning away from hydrocarbons; however, stakeholders hope to see an increase in the footprint of alternative cleaner energy sources in the foreseeable future amid fossil fuel dominance.
He said we use what we have to get to our desired destination stating further this is the reason that NNPC Limited has identified gas as a transition fuel and we are expanding our gas development and gas infrastructure across the country to increase energy accessibility.
According to him, today, Nigeria has about 209.5 Trillion Cubic Feet of natural gas reserves with a potential upside of up to 600 TCF, and this is an enormous resource that would drive cleaner and affordable energy vision. Other alternative energy sources such as solar and wind are faced with technology limitations. They are still not affordable and cannot meet the high energy demands of our industries, cities and remote environments.
The NNPCL boss however stated that all of these cannot be achieved if we do not have security of our operations. We will continue to further deepen collaboration amongst all the relevant stakeholders; government security agencies, host communities and others to enhance our energy security. This he said will require provision of adequate and timely investments to build resilient energy systems capable of delivering energy to support socio-economic development in a sustainable manner.
He said in the past few years, the Nigerian energy industry has witnessed strategic transformation which has given birth to viable industry legislation, the PIA, and a long-term gas-centered energy transition plan.
On the policy front, he explained that they have also seen the emergence of the incorporation of our national oil company from NNPC to NNPC Limited. The PIA also provides for NNPC Ltd. to engage in the renewable energy business; and the Nigerian Climate Act for mainstreaming climate change actions to achieve low emissions, inclusive green growth, and sustainable economic development, he said.
He said he sincerely appreciate the SPE on the consistency in leading pivotal industry professional assemblage, and it is his great pleasure to deliver the industry address at this year’s Nigeria Annual International Conference & Exhibition NAICE 2023. The theme for this year; “Balancing Energy Accessibility, Affordability, and Sustainability: Strategic Options for Africa”
He said African countries grapple with strategies of balancing energy availability with meeting the United Nations Sustainable Development Goals No 7 (Affordable and Clean Energy) and No 13 (climate actions).
