Nigerian Government will Define its Terms on Energy Transition – Minister

Chika Eze, Abuja

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The Nigerian government has restated its decision to define its terms on energy transition.

Minister of State, Petroleum Resources (Oil), Sen.Heineken Lokpobiri, stated this in his address at the panel session on Day 3 of the ongoing 2024 Nigerian International Energy Summit (NIES) in Abuja on Wednesday, 28th February, 2024.

The Minister assured participants that Nigeria was not against transition but would transit in a more environmentally friendly and sustainable way.

“You can never find any better climate for oil businesses than Nigeria,” he noted.

Lokpobiri reiterated the resolve of the government to provide support and create the enabling environment for oil companies and businesses to thrive.

Also, in his brief remarks, the Minister of State Petroleum Resources (Gas), Rt. Hon. Ekperikpe Ekpo restated the adoption of Gas by the federal government as its transition fuel.

The Chairman, Independent Petroleum Producers Group (IPPG), Mr. Abdurazaq Isa, in his address to delegates and experts lined up for a panel session, expressed optimism that panelists would dissect key issues and proffer pragmatic solutions to some of the critical challanges facing the oil and gas industry.

The Chairman, Oil Producers Trade Section (OPTS), Mr. Osagie Okunbor, in his submission, noted that the diversification of supply sources has created opportunities for companies and countries to expand into new markets.

This, he said, has presented a very significant opportunity for Nigeria.

At a panel session, representatives of national oil companies and delegates from Ghana, South Africa, Namibia and The Gambia, discussed their roles as energy leaders in navigating the challenges and opportunities presented by the evolving global energy landscape and the financial dynamics shaping the industry’s future.

Panellists included the General Manager, Corporate Affairs Stategic Fuel Fund, Natalie Taft; Group Managing Director, Gambia National Petroleum Commission, Mr. Baboucarr Njie; General Manager Finance, Nigeria Lequified Natural Gas (NLNG), Mrs. Fatima Adanan; General Manager, Strategy and Investments, Ghana National Petroleum Corporation, Dr. Kwame Baah-Nuakoh; Chief Geoscientist, National Petroleum Corporation of Nambia, Mr. Anthony Chatu, among others.

Highlight of the day’s activities at the summit was the guided tour of the exhibition stands by both Ministers of State Petroleum Resources,  Permanent Secretary in the Ministry and other stakeholders.