The Vice-President, Professor Yemi Osinbajo, has said the federal government is working conscientiously to ensure that the country meets global clean energy requirements.
He stated this at the Nigeria 2021 Oil and Gas Strategic Oil and Gas Exposures that has just ended in Abuja,
Also, Nigerian National Petroleum Corporation (NNPC) has assured that Nigeria remains on track to meet global demand for cleaner energy.
He stated that the country had no choice but to move forward with the global trend to sign international protocols on cleaner energy.
Represented by the Minister of State for Petroleum Resources, Chief Timipre Sylva, he added that the federal government had no effort to ensure that the country is going to clearable renewable energies, but that the steps need to be progressive.
Osinbajo explained that the government had already asked for stakeholders in the oil and gas sector to focus on natural gas resources as a transition fuel that would serve as a bridge between dominant fossil fuels and cleaner energy.
“Natural gas has the intrinsic capacities to meet the growing global needs of a cleaner use of primary energy, while at the same time allowing national industrialization that is essential for rapid economic growth in very few countries with Nigeria.
In addition, in his speech, the Permanent Secretary of the Ministry of Petroleum Resources, who represented the Minister of Petroleum, Mr Bitrus Nabasu, said the Petroleum Industry Bill (GDP) signing would help the country to progress faster towards energy cleaner.
The minister stated that gas had a great role to play in the country’s quest for cleaner energy resources.
During the week under Revue, the company also reaffirmed its commitment to energy sufficiency and wealth creation in the country.
The Chief Executive Officer of the NNPC Group, Malam Mele Kyari, reiterated his commitment to efficient management of country hydrocarbon resources to ensure energy security and stimulate wealth creation in Nigeria.
Speaking on the subject: “Vision and Priorities for the Energy Transformation of Nigeria”, at Nog, Kyari said for a nation with teaching youth and a developing economy, Nigeria needed good policies to release its huge Economic potential, emphasizing that NNPC was working to bridge the energy gap to multiply wealth for its various stakeholders.
“We see a nation that must integrate with intermediate and downstream infrastructure such as intersection and bridge to value. We see a nation that needs an appropriate policy framework to attract new investments while encouraging existing actors, “Kyari said.
He said the company had completed the Phase II project of the Pipeline Escravos Lagos (ELPS) system, thus expanding the gas supply channel for the domestic use of gas, adding that it had also launched the project of Ajaokuta-Kaduna-Kano Pipeline (AKK), while the Obiafu-Obrikom-Oben Pipeline project (OB3) was charged to end soon.
The GMD maintained that the company’s vision was to put in place the essential basic infrastructure, create cash and provide the necessary link with the markets.
He noted that the NNPC and its partners exploited and operated the huge gas potentials of the country, including the Nigeria Liquefied Natural Gas (NLNG) project that the President recently inaugurated at the inauguration ceremony.
According to him, the NLNG Train 7 is a flagship project that should increase the country’s 35% LNG production capacity and seal Nigeria position as one of the world’s first LNG countries, adding that Nigeria was also transforming into an LNG consumer country while deepening the national use of liquefied oil gas (LPG).
The Company also expressed its satisfaction with the level of indigenous enterprises in the country’s oil and gas value chain, stressing that this was necessary to prepare the country for the global energy transition.
Kyari, represented by the Director of Upstream Operations, Mr Adokiye NOG Tommey, said that the increased involvement of local actors in the industry was an indication that Nigerians were ready to participate actively in the energy transition.