Industry stakeholders list ways to achieving Nigeria’s energy security

Mon, Jul 10, 2023

By editor

2 MIN READ

Africa

By Anthony Isibor

THE stakeholders in the Nigerian oil, gas and energy sector have agreed on the most appropriate approaches to achieving a sustainable energy security in the country.

The stakeholders, who converged at the ongoing “Nigerian Content Seminar at the Nigerian Oil And Gas Energy Week in Abuja on Monday July 10, 2023, listed human capacity development, and funding, among the top priorities towards achieving a sustainable energy future.

Some of the speakers included Olakunle Williams, CEO, Tetracore Energy Limited, Ama Ikuru, Niger Content Development and Monitoring Board, Simbi Wabote, Executive Secretary Nigeria Content Development and Monitoring Board, NCDMB.

In his contribution, Olakunle noted that although the African continent is home to sufficient energy resources, its effective generation and utilization have been bedeviled by many factors, including availability, sustainability and affordability.

Speaking on Exploring Emerging Opportunities for Future Energy Demand, the Tetracore boss called on African leaders to prioritise the funding of energy production in the continent to help compliment the very meagre funds available.

Similarly, Ama Ikuru harped on the development of human capital to ensure energy security.

According to him, Nigeria is at the moment rated 163 out of 192 in the human development index based on life expectancy, knowledge and a decent standard of living.

He said that to get into the first 10 position the board has set out to enforce the human capital development as stipulated by law by increasing local content levels to 70% by 2027.

He noted that NCDMB is ready to enforce the act that stipulates that every local bid must include human development plans.

Ikuru added: Our plan is to develop competent workers for the oil and gas industry, achieve 60% employability for beneficiaries of training initiatives,

grow and sustain world class training facilities, while ensuring that Nigeria becomes a training hub for the industry, among others.

In his remarks, Wabote called on Indigenous Oil Companies to, as a matter of urgency, invest in human capacity development and train the younger people to take over from the older workforce if they plan to take up future opportunities in the industry.