Nigeria Must Take A Flexible Approach To Energy Transition, Says NNPCL

Nigeria needs a more flexible and gradual approach, according to Mallam Mele Kyari, the Group Chief Executive Officer of Nigerian National Petroleum Company Limited (NNPCL).

In his speech at the recently concluded NAPE’s 40th annual international conference and exhibitions in Lagos, Kyari emphasized the need for the continent, particularly Nigeria, to focus more on renewable energy sources.

“Interestingly, as the transition to cleaner energy gains momentum, it is comforting to discover that Africa is especially endowed with abundant sunshine that can support massive development of renewable energy enough to put Africa on the map of energy sufficient regions of the world,” the NNPCL chief, who was represented by Mr. Adokiye Tombomieye, the Executive Vice President (Upstream) of NNPCL, said.

According to Kyari, the energy shift is currently progressing quickly, and the biggest funders for investments in the upstream production of petroleum are now activists.

He contends that whereas wealthy nations are pursuing aggressive energy transition plans, many developing nations, particularly those with hydrocarbon-dependent economies like Nigeria, need a more flexible and moderate approach to the energy transition idea.

He also stated that there are approximately 970 million Africans without access to clean cooking gas.

He claims that while the energy mix becomes more diversified with increased campaigns to use renewable energy sources and the adoption of the net-zero concept, Africa’s current energy balance is still dominated by fossil fuels, with hydropower making the sole substantial contribution from renewable sources.

“Rapid demographic change will continue to drive up demand for energy services across Africa in the coming decades. Population growth rate has been consistently over 2.45 per cent and real GDP is projected to keep a stable and constant growth trend of around 4%. Oil demand in Africa stood at an average of 4.36 million barrels per day in 2022. Even though Africa has the world’s lowest eves of per capita use of modern Energy, its demand is set to increase with growth in population and incomes. As its population and incomes grow, demand for modern energy expands by a third between 2020 and 2030,” he said.

According to Seplat Energy, rising gas production and penetration in Nigeria present a significant potential for the Nigerian state and people. This was said by Mr. Roger Brown, Chief Executive Officer of Seplat Energy Plc.

He guaranteed that Seplat could generate an additional 2000 MegaWatts (MW) of energy by 2024 using the enhanced Sapele and ANOH gas projects.

Source: Oriental News Nigeria.

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