Nigeria Calls for Reform of Energy Architecture over Emerging Challenges

.As Sylvia, Kyari, others win award at 2021 at Sub-Saharan African Oil, Gas Conference

Ministers of State for Petroleum Resources, Timipre Sylvia has said there was need to reform the global and regional energy systems following growing population and push from fossil fuel due to environmental concerns.

Insisting that development remained sacrosanct in Africa. Sylvia noted that there was need to persist in expanding the role and opportunities of natural gas towards recovery and shared prosperity for a sustainable Sub-Sahara Africa and the world in general.

He stated this at the 2021 Annual Sub-Saharan African Oil and Gas Conference tagged ‘‘The future of Upstream and Deepwater Development, Advancing Digitization and Gas Development Options in Sub-Saharan Africa” and organised by Energy & Corporate Africa.

According to him, Nigeria’s per capital consumption of gas is the lowest in the Sub-Saharan African region, adding that the upsurge in the continent’s population could be challenging if not treated as an opportunity.

“According to UN predictions, the present global population of 7.6 billion people will grow to 8.6 billion in 2030, 9.7 billion in 2050, and 10.6 billion in 2060. And in the year 2100, there will be 11.2 billion people on earth.

“A small number of countries will be responsible for the majority of the global growth. Half of the world’s population increase is anticipated to occur in just five nations in Africa between 2017 and 2050.  They are Nigeria, the Democratic Republic of Congo, Ethiopia, the United Republic of Tanzania, and Uganda,” he said.

Speaking at the conference, which held in Houston, Sylvia said a reform of the global and regional energy systems in Sub-Saharan Africa was sacrosanct.

According to him, while Nigeria currently holds approximately 206 Trillion Cubic Feet (TCF) in proven gas reserves, ranking among the top 10 in the world with over 600 TCF unproven, current per capita consumption of gas in Nigeria is one of the lowest within the sub region.

“Hence, the current policy of Government is to promote the utilisation of Natural Gas in Nigeria. It is expected that Natural Gas will provide the much-needed alternative to Premium Motor Spirit (PMS or Petrol) and firewood,” Sylvia said.

The Minister noted that the lessons of COVID-19 must make the continent focus on reengineering supply chains for the new world order, stressing that the industry was no stranger to supply and demand shocks, having faced more than a dozen such jolts over the course of the past four decades.

Sylvia also noted that a single Government would not be able to do it all alone, as there was need for collaborate as a region across broad spectrum and dimensions.

Coming on the heels of the signing of the Petroleum Industry Act, the conference celebrated the efforts being made in the industry in Nigeria as the minister was conferred with the Africa Leadership Award for his leadership role in ensuring stability and growth in the Nigeria oil industry.

The Group Managing Director of the Nigerian National Petroleum Corporation, GMD, Mele Kyari, was conferred with the transformational leadership award, while Dr. ABC Orjiako – Chairman SEPLAT Energy was honored for top indigenous entrepreneur in the energy sector. Innovative leadership award went to Mike Sangster, Managing Director of Total Energies Nigeria/Chairman OPTS. While NJ Ayuk, Chairman, African Energy Chamber won the award for Advocacy. Other recipients were GNPC Ghana for human capital development, Chevron Nigeria Limited for Community Relations, SNEPCO for Local Content Development, SEPLAT – Largest indigenous domestic supplier of gas, Total Energies Nigeria for Egina FPSO and innovative Technology, and BG Technical as Asset Integrity Champion.

Board member of NNPC, Lami Ahmed, commended the efforts of President Buhari, the Minister of State for Petroleum Resources, the National Assembly and other stakeholders for seeing to the birthing and signing of the PIB Bill, insisting that the new legislation would help to spur great economic transformation of the country.