Energy Security: NNPC Wants African Cooperation For Facilitation – Robert Rapier

The Nigerian National Petroleum Company Limited (NNPCL) has stressed the urgent need for partnership among nations in Africa, especially, in knowledge sharing, to attain energy security and achieve transition to cleaner energy.
Group Chief Executive Officer (GCEO) of the company, Mele Kyari, stated this recently while addressing the 7th edition of the Sub Saharan Africa International Petroleum Exhibition and Conference(SAIPEC) in Lagos.
Kyari said the Conference, with the theme, “Harnessing a Sustainable African Energy Industry through Partnerships”, is coming at an opportune time when the Nigerian Oil and Gas industry is experiencing a significant transformation following the passage of the Petroleum Industry Act (PIA 2021).
He explained that the Act has provided role clarity in Governance, Rule- based Administration, Attractive and Flexible Fiscal Terms and Direct benefits for the Host communities.
All these, he said. are targeted at creating enablers for investor confidence in the Nigerian Oil and Gas sector, where ample opportunities exist.
He however, noted that the restructuring is happening at a time when the Energy transition discussion is gaining momentum, and major fund providers for petroleum upstream investment are now activists and anti-fossil fuel.
“As I have always canvassed, decreasing investments in hydrocarbon ventures cannot guarantee global energy security in the near future. Rather, an inclusive policy that guarantees access to finance and low-carbon technologies are key to sustaining global energy security and equitable growth”, he stressed.
He said, Nigeria, being geographically situated in the sub-African region and also a foremost leader in the oil and gas industry in sub-Saharan Africa, there is the need to capitalise on the advancements made in the industry to meet the country’s energy demands, guarantee energy supply, expand economies and overall build a sustainable future for millions of people beyond our shores.
In the next 20 years, energy demand in Africa is expected to increase in the order of 30-35 per cent to support the projected increase in population and industrialization which presents an enormous opportunity for us to form partnerships across the continent and build a sustainable future, he said.