FG reiterates commitment to embracing energy transition

FAVOUR ISHEMBER, Abuja

The Federal government has hinted that Nigeria has made a strong commitment to embracing energy transition, pledging to significantly reduce its greenhouse gas emissions under the Paris Agreement on Climate Change. This is in addition to the commitment Nigeria made through His Excellency President Muhammadu Buhari, at COP 26 in 2021 to attain carbon net-zero by 2060.

The Honourable Minister of State for Petroleum Resources, Chief Timipre Sylva who dropped this hint in his key note address at the ongoing NIGERIA-AFRICA NATURAL RESOURCE AND ENERGY SUMMIT, held at the international Conference Center, Abuja, said Nigeria is following a transition pathway that combines technology, investment, business strategies, and government policy that will enable Nigeria to transit from its current energy system to a low-carbon energy system with natural gas playing a pivotal role.

Chief Sylva opened that Nigeria needs affordable, reliable and sustainable energy resources to eradicate the prevalent energy poverty in the shortest time possible, and propel economic growth.

“The only viable option currently on the table is natural gas, considering our vast proven gas endowments, put at 209 tcf, with 600 tcf potential reserves.  We cannot ignore this resource, especially when energy poverty is viciously starring at us.

” The goal of Nigeria’s gas policy is to ensure that gas development is undertaken in accordance with our socio-economic development priorities.  The aim is to guarantee long-term energy security in the country, and boost the domestic gas market.  Hence the declaration of 2021-to-2030 as the ‘Decade of Gas’ by Mr. President”

“We have embarked on a critical pathway to ensuring that our abundant Natural gas resources is marshalled to engender domestic economic growth and development” he said.

In this regard,  the Minster said the Ministry of Petroleum Resources has launched the National Gas Expansion Programme (NGEP) as part of the National Gas Policy to expand Nigeria’s Domestic gas utilization; the National Gas Flare Commercialization Programme; as well as specific provisions in the new Petroleum Industry Act (PIA) that elevates LPG as the fuel of choice compared to other competing fuels.

In addition, the usage of solar energy is already being vigorously promoted across the country, while the use of hydro, wind and other natural resources are also being expanded, he added.

“I believe that Africa has a key role to play in securing a greener world where clean natural gas is used to power economies sustainably.

” In particular, Africa’s large gas reserves fit well with our push for industrial growth and the need for reliable and affordable electricity to propel this overdue growth. This is essential for Africa to succeed in eradicating prevalent energy poverty in the shortest time possible.

” While we will not wish away our vast hydrocarbon resources, let us remind ourselves that the energy transition is real. That is the direction the industry of the globally and Africa cannot afford to be left behind”

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