By Moses Patience Chat
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has said that the ongoing energy transition discourse should revolve around implementation of a fair, equitable and sustainable energy mix that will guarantee energy security.
The Commission Chief Executive (CCO) of NUPRC, Engr. Gbenga Komolafe, said this on Tuesday while speaking at the ongoing 2023 Offshore Technology Conference in Houston, Texas.
Delivering a lecture on “Energy Transition in Africa: The Journey, Challenges and the Way Forward,” Komolafe said that the discourse should consider the right of nations to harness their energy resources for their developmental goals, attain the right energy mix in a multiple energy pathway, and achieve sustainable energy supply.
He added that this has become important as the world looks at the future of offshore energy and global transition to renewable and sustainable energy.
According to him, “Nigeria has declared gas at its pathway to the energy transition and the government has designed a programme to ensure that gas actually plays a role to lift the nation out of its energy challenges to drive industrial development.”
The NUPRC Boss noted that as a nation, Nigeria boasts of 36.966 billion barrels of oil reserves and 208.83 trillion cubic feet of natural gas reserves, with a daily production of over 1.5 million barrels of oil and 7.5 billion standard cubic feet of gas.
“In terms of reserves, Nigeria is ranked 2nd in Africa, 8th in OPEC and 11th in the world. On the other hand, it ranks 1st in Africa, 6th in OPEC and 15th in the world in terms of crude oil production,” he added.
Komolafe maintained that Nigeria is indeed a nation where needs meet opportunity,. and that the country is on its way to achieving carbon neutrality by 2060 as part of its transition goal.
According to him, the heart of the transition programme is the country’s vision to drive infrastructure and industrial development to prosper the citizens and make life more meaningful to all.
