At NAEE Conference, Stakeholders Urge FG to Protect Vulnerable Nigerians

Emmanuel Addeh in Abuja

The Nigerian Association for Energy Economics (NAEE) yesterday urged President Bola Tinubu to protect Nigeria’s vulnerable as his economic reforms begin to take shape.

However, it lauded the President’s macro-economic policies, describing them as robust and forward-looking and highlighting the long-term potential of the current changes in the economy.

In a keynote address at the 18th NAEE/International Association for Energy Economics (IAEE) Annual International Conference, a former NAEE President, Prof. Adeola Adenikinju, said the administration’s reforms were laying a strong foundation for stability.

He said: “In terms of macro policies and macro stability, the government is doing fantastically well. But in this kind of reform, you must also find a way of ensuring that you identify the vulnerable groups and see how you can protect them. The market will not do that for you.”

In his recommendation, Adenikinju underscored the need to strengthen Nigeria’s infrastructural base, and called on the government to ensure that all Nigerians have access to affordable electricity through the deployment of solar energy.

Besides, he called for the removal of barriers to domestic gas access to enhance the distribution and use of Liquefied Petroleum Gas (LPG), stressing that while the current reforms are necessary, their impact on the weak must be considered.

Also speaking, the Secretary General of the African Petroleum Producers Association (APPO), Dr. Farouk Ibrahim, argued that fossil fuels will continue to be relevant in the coming years.

He maintained that hydrocarbons cannot be easily phased out and that the promise of renewable energy remains far from realisation within the projected timeline, given the several challenges to its adoption.

According to him, while energy transition remains a critical conversation globally,  Africa’s unique realities require a balanced approach that does not undermine the role of fossil fuels in the continent’s development.

Themed: “Emerging Geopolitics of the Energy Landscape – Navigating Global Shifts and Their Impacts on Developing Economies,” the event brought together policymakers, academics, and industry leaders to discuss sustainable strategies for energy development amid shifting global dynamics.

Ibrahim added: “As leaders in Africa’s energy industry, I hope this significant admission by the IEA encourages us to be more critical in accepting dogmas presented as scientific facts. If Africa fails to produce the components it needs, whether in renewable or conventional energy, it will remain trapped in dependency.

“My first point, therefore, is this: whatever the direction of the global energy transition, we must understand its economic implications for Nigeria. The term ‘transition’ implies moving from one system to another. But before we can move, we must first master what we currently have.

“Right now, we are energy insecure. Our power systems remain fragile, and our mastery of even the existing technologies—alternating and direct current systems—is still limited.”

Delivering remarks on behalf of the IAEE President, Edmar Fagundes, at the event, Prof. Omowumi Iledare, reaffirmed IAEE’s enduring commitment to evidence-based global energy dialogue and inclusive knowledge exchange across regions and generations.

He emphasised that the association’s purpose remains to advance understanding of energy economics through rigorous analysis, constructive dialogue, and professional collaboration.

Reflecting on Africa’s broader energy context, Iledare reiterated that Africa’s energy future must be defined by pragmatism, equity, and prosperity, not by imitation.

 “Africa’s energy future is not a copy of Europe’s past,” he stated. “It must become a model of pragmatic prosperity — one that prioritises affordable access, industrial competitiveness, and intergenerational equity,” he added.

In his intervention, the Authority Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Farouk Ahmed, said ongoing conflict in Eastern Europe, instability in parts of the Middle East, supply chain realignments, and the accelerating global energy transition — all underscore how deeply interconnected and volatile the energy landscape has become.

 “For developing economies like Nigeria, these global shifts bring both challenges and opportunities. On one hand, we face exposure to market volatility, constrained access to investment capital, and pressures from the global transition agenda.

 “On the other hand, we are presented with a unique opportunity to redefine our energy pathways — to leverage our natural gas, our human capital, and our strategic geography to create sustainable growth and inclusive development.

 “Nigeria’s energy transition journey must therefore be anchored on realism, resilience, and responsibility. We cannot simply import global models; we must adapt them to our local realities,” Ahmed , who was represented by Zainab Gobir, the NMDPRA’s Executive Director of Economic Regulation, said.