Oil & Energy
Proffer Solutions To Energy Crisis, PTI Urges FG. Stakeholders
The Petroleum Training Institute (PTI), has urged stakeholders in the energy sector to proffer solutions to the country’s energy crisis.
PTI gave the urge at its 4th Biennial International Conference on Hydrocarbon Science and Technology (ICHST), organized in partnership with the Ministry of Petroleum Resources (MPR), Petroleum Technology Development Fund (PTDF), Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Nigerian Midstream and Downstream Petroleum Authority (NMDPRA), NNPC Academy, Nigerian Content Development and Monitoring Board (NCDMB), and CypherCrescent Ltd, held in Abuja, at the Weekend.
In a Communique issued shortly after the conference, by the Director, Research and Development, PTI, Dr. Tina Isichie, urged the nation to address its energy crisis with a sustainable solution.
The stakeholders noted that Nigeria is endowed with 207 trillion cubic feet reserves of gas aside from oil reserves that is sufficient to support development.
Isichie said, “Nigeria has been blessed with natural gas resources (currently a reserve of 207 TCF) in addition to oil. This is enough to support developments by leveraging digitalization, innovation, and technology across the board.
“It is projected that by the year 2050, Nigeria will be the 3rd most populous country on earth, necessitating an urgent need to think outside the box and proffer sustainable solutions to the country’s energy crisis.”
She said considering the government policy of 2020-2030 as the Decade of Gas, the government should speed up CNG investment and ensure all LPG importers set up processing plants in Nigeria so that the commodity will be readily available and at an affordable price.
According to her, despite the PIA 2021, persistent issues including under-utilized refineries, capacity gaps in the workforce, and challenges with technology transfer and environmental obligations have plaqued the sector.
The conference recommended that there should be a strong mandate for all Ministry of Petroleum Resources agencies to partner and collaborate on generating solutions and evolving the required technology for local production issues.
The conference, according to the communique, emphasised maximizing Nigeria’s 207 TCF gas reserves to drive national development, urging the acceleration of CNG investment and sector liberalization to diversify the economy into agriculture and ICT.
Isichie said there was a resolution to establish centres of excellence and foster collaboration between industry and academia to build a talented workforce prepared for the energy transition.
The Director stressed that transparency is the “currency of trust” needed to propel the sector, advocating for domestic participation and leveraging divestment to demonstrate local technical and financial capability.