NNPC to Drive Affordable and Cleaner Energy
The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC), Mallam Mele Kyari, has reaffirmed the company’s commitment to aggressive gas development and gas transportation projects. The goal is to deliver affordable and cleaner energy to Nigerians struggling with energy poverty. Despite current pressures to transition away from hydrocarbons, Kyari emphasized that Nigeria will use its abundant hydrocarbon resources to drive its transition agenda.
Predicted Investment for Africa’s Energy Transition
Seplat Energy’s CEO, Mr. Roger Brown, predicted that Africa would require approximately $3.5 trillion in net annual investment to achieve its energy transition and net zero targets by 2050. The urgent need to decarbonize energy will reduce fossil fuel demand as countries strive for net-zero emissions to meet climate targets. A just and affordable energy transition is essential for economic development, food production, sanitation, and health in Africa.
Gas as a Strategic Transition Fuel
According to the Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Mr. Farouk Ahmed, natural gas plays a critical role in Africa’s transition to sustainable energy. It offers a strategic competitive advantage for powering the continent sustainably and ensuring energy access for all in the short-to-medium term. Nigeria’s proven gas reserves, estimated at about 206TCF, have the potential to unlock economic development and GDP growth for the country. The Nigerian government has declared the decade from 2021 to 2030 as the “Decade of Gas” and is implementing midstream gas investment initiatives to boost gas development and utilization, create jobs, and diversify the economy.