Seplat Energy Plc has reiterated the need for operators in the oil and gas sector to conduct their activities responsibly, efficiently and sustainably as the sector continues to play a critical role in Nigeria’s energy mix.
This position was articulated by the Director, Gas & New Energy, Seplat Energy Plc, Mr. Okechukwu Mba, who represented the Company’s Chief Executive Officer, Mr. Roger Brown, at a high-level climate roundtable organised by the Nigerian Exchange Group (NGX Group) in partnership with DEG, Germany’s development finance institution, and Africa Foresight Group (AFG) in Lagos.
Mr. Mba stated that the real issue facing Nigeria’s energy sector was not whether oil and gas should exist, but how operators manage their responsibilities to the environment, society, and the economy.
He emphasised that responsible operations must be driven by concrete actions, including improved efficiency, reduced emissions, and credible offsetting strategies.
At Seplat Energy, Mr. Mba explained, this commitment was already being translated into measurable outcomes as the company had launched a comprehensive programme to end routine gas flaring across all its onshore operations.
“Very soon, we will be able to clearly state that routine flaring has ended in our onshore operations. This is an important milestone that speaks to our stewardship of the environment, while remaining focused on delivering energy to the nation,” he said.
He further highlighted Seplat Energy’s deployment of technology to enhance operational efficiency, including real-time monitoring of emissions across pipelines, valves, plants, and other critical infrastructure, supported by a robust asset integrity programme designed to identify and eliminate emissions.
Beyond operational measures, Mr. Mba said the company was also implementing nature- based solutions to offset emissions.
According to him, expanding access to LPG helps reduce reliance on firewood, charcoal, and other biomass fuels, particularly in communities outside major cities.
Following Seplat Energy’s offshore acquisition, he noted that LPG that was previously exported has now been redirected to the domestic market, significantly improving availability.
Need for Financing
Mr. Mba also underscored the urgent need for financing to support Nigeria’s energy transition, particularly gas and gas-to-power projects.
He noted that while only about five gigawatts of electricity currently come from the national grid, a much larger share of power is self-generated through petrol and diesel generators that produce significantly higher emissions.
“If we replace these inefficient power sources with gas-powered energy, we can achieve substantial decarbonisation. But without adequate financing, these projects cannot be implemented, and the benefits will not be realised,” he said.
The NGX Net-Zero Programme (N-Zero), is an initiative designed to support listed companies in defining net-zero pathways, improving climate-related disclosures, and aligning with global investor expectations.
The programme is expected to unlock between $2.5 billion and $3.1 billion in climate-linked capital for Nigerian companies.
Group Chairman of the NGX, Dr. Umaru Kwairanga,, said Africa’s capital markets must take a leading role in driving climate action and sustainable growth, adding that the NGX Net-Zero Programme would help companies move from climate ambition to measurable action.
On her part, a member of the Management Board of DEG, Ms Monika Beck said the partnership aligns with DEG’s strategy of mobilising private capital to accelerate climate action while delivering measurable development impact.