By Ndubuisi Micheal Obineme
The Minister of State Petroleum Resources (Oil), Senator Heineken Lokpobiri has affirmed that Nigeria will not be forced to stop the production of fossil fuels, insisting that the country will handle the energy transition programme on its own terms.
The Minister stated this while delivering his ministerial address at the 7th Edition of the Nigeria International Energy Summit (NIES 2024) with the theme: Navigating The New Energy World Order: Security, Transition and Finance.
The minister stated that Nigeria was not against energy transition but would transit in a more environmentally friendly and sustainable way.
“You can never find any better climate for oil businesses than Nigeria”, the minister said.
Lokpobiri reiterated the resolve of the government to provide support and create the enabling business environment for oil companies and businesses to thrive.
In his brief remarks, the Minister of State Petroleum Resources (Gas), Ekperikpe Ekpo restated the adoption of gas by the federal government as its transition fuel.
Furthermore, the Chairman, Oil Producers Trade Section (OPTS), Mr. Osagie Okunbor, in his speech, 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.
Panelists 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 .