Featured, Oil & Gas
By Anthony Isibor
PRESIDENT Bola Ahmed Tinubu has called for elaborate discussions on finding lasting solutions to the nation’s energy challenges.
Declaring open the 7th edition of the Nigerian International Energy Summit at the Banquet Hall of the Presidential Villa Abuja, Tinubu told the oil and gas executives captains of industry, including regulators/government functionaries and guests attending the Summit that noted that the platform will afford the government a great opportunity to once again address a crucial issue that has been at the forefront of national discourse, which is the removal of the petroleum subsidy.
Represented by minister of information and national orientation, Mohammed Idris, Tinubu stated that energy security is of paramount concern to any nation striving for economic stability and development as it encompasses not only the availability and accessibility of energy resources, but also the resilience of our energy infrastructure.
According to him, the world stands at the crossroads of the 21st century and that it is imperative that the nation re-evaluate its energy policies to ensure a sustainable and secure future.
He explained that the petroleum subsidy has over the years, strained our economic resources, leading to inefficiencies and, most importantly, hindering our ability to invest in critical areas of energy security.
He noted that the decision to remove the petroleum subsidy is not an easy one, but it is a necessary one for the long-term energy security and economic prosperity of our beloved nation.
President Tinubu therefore called on all stakeholders, including industry experts, policy makers and the general public to engage in constructive dialogue and collaboration as the nation navigates these challenging but transformative times.
“Together, we can build a resilient and sustainable energy future for Nigeria.
“While we are immersed on energy security, let us not forget that Energy Transition is another key aspect of our discussions. We stand on the brink of a new era, where traditional energy sources are being complemented and, in some cases, replaced by cleaner and more sustainable alternatives. This transition is not only an environmental necessity, but also an economic opportunity. We must leverage innovation and collaboration to ensure a smooth and just transition that will leave no one behind.” he added
In his speech, Mele Kyari, the CEO of the NNPC Ltd, explained that that the NNPC is working deeply to ensure value for all its partners to ensure that more resources are created, more capacity is created for Nigerians to ensure that it fits well to the ongoing energy transition.
He said that there was a clear connection between energy security and national security, noting that nearly every conflict seen in the world has a root on energy security.
Kyari added that the country must ensure that there is energy security, access to clean cooking fuel and sustainable and sustained supply of energy that we do not have today.
In his remarks, the OPEC Secretary General Haithan Al-Ghais noted that the NIES is one of the major industry Summits in Nigeria and indeed in Africa.
He added that the best way to have energy security in any country is to have enough investment and called for concerted efforts towards ensuring this.
This year’s NIES theme: Navigating the new Energy World Order will be focusing on security, transition and finance.
A.I
Tags: (NNPC) Ltd. Haithan Al-Ghais Mele Kolo Kyari Mohammed Idris OPEC
