IGBOZURUOKE FORUM

Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, says Nigeria has no business with energy poverty.
Ekpo, who was speaking at the opening ceremony of the 7th edition of the Nigeria International Energy Summit (NIES 2024), said he is looking forward to engaging in fruitful discussions and collaborative efforts that will shape the trajectory of the country’s energy landscape.
NIES is however a pivotal event that brings together key stakeholders in the energy sector to discuss the challenges and opportunities that lie ahead. 
With abundant proven gas reserves of more than 208 trillion cubic feet, and further exploration potential, the minister says the gas industry is crucial for enhancing energy security. 
“As we gather here, we are faced with a critical juncture in our journey towards a sustainable energy future for our dear nation”, he said.
The theme of the summit, “Navigating the new energy world order: Security, Transition, and Finance”, according to him, “underscores the challenges and opportunities that define our times. 
“The theme resonates deeply with the path that the gas industry must tread to ensure Nigeria’s economic transformation.” 
Shedding light on the symbiotic relationship between the summit’s theme and the gas industry’s transformative potential in Nigeria, Ekpo said, “energy security extends beyond geopolitical stability to include energy infrastructure’s resilience, diversity, and reliability. 
“In our transition to a sustainable energy future, Nigeria has chosen gas as our transition fuel, facilitating the shift from more conventional to new and renewable energy sources. 
“With its lower carbon footprint and versatility, natural gas aligns with global climate objectives while providing a reliable solution for our energy needs. 
“Nigeria, with significant gas reserves, should leverage this advantage to become a key player in the global energy transition and a regional powerhouse for gas processing and industrialisation.
“Finance is essential for transformative endeavours, and the gas sector is no exception. Attracting domestic and foreign investments is important to unlock the full potential of our gas resources.
“Collaboration with international partners, financial institutions, and the private sector is pivotal for securing funding for gas infrastructure development.
“Nigeria is currently facing challenges as we continue our journey of national development; however, these challenges also present us with a unique opportunity to seize the moment and define our future. Without a doubt, the gas industry plays a crucial role in shaping the country’s energy future. 
“The nation is rich in natural gas reserves. It is now essential to strategically utilise these resources to drive economic development, job creation, poverty eradication and environmental sustainability. 
“As we are all aware, overdependence on oil revenue poses significant economic risks for our nation. 
“Despite efforts to diversify the economy away from oil dependence, we have faced numerous challenges. However, innovation and strategic vision become imperative in times of challenge.
“Today, I stand before you to advocate for a shift towards the vast potential that lies in our gas sector.
“The shift towards gas is not merely an option but a necessity for our economic resilience. The gas industry presents a unique opportunity to diversify our revenue streams, reduce dependence on oil, and create a more robust and sustainable economic foundation. 
“Our journey to revitalise the country’s economy through natural gas should stand on four key pillars.
“First, we are accelerating the deployment of gas-fired power plants and working with our counterparts in the Ministry of Power to ensure the reliability of gas supply to enhance the optimal availability of electricity nationwide. 
“This goes hand-in-hand with encouraging private sector participation in the power sector through attractive investment frameworks and incentives.
“Secondly, we are promoting the use of natural gas as feedstock for industries, reducing operational costs and enhancing competitiveness. 
“We are doing this by facilitating the establishment of gas-based industries to create more employment opportunities and boost economic growth.
“Thirdly, we will continue the development of the necessary infrastructure to ensure widespread access to clean and affordable natural gas for domestic consumers and encourage the adoption of compressed natural gas (CNG) and liquefied petroleum gas (LPG) for transportation and household use, respectively.
“Last but not the least, we continue to strengthen partnerships with neighbouring countries to enhance regional gas trade and cooperation through the West African Gas Pipeline (WAGP) and other novel initiatives, including Nigeria-Morocco Gas Pipeline (NMGP) and Tran-Saharan Gas Pipeline (TSGP) among others. 
“We also want to explore more international markets for our liquefied natural gas (LNG) exports, thereby positioning Nigeria as a major player in the global gas market.
“This gas industry address will not be complete without taking a look at where we are with some major gas projects and initiatives.
“I am pleased to report that significant progress has been made in the realisation of the ‘Decade of Gas’ vision. The official secretariat is now operational and fully functional. 
“On September 12, 2023, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) announced the successful bidders for the Nigerian Gas Flare Commercialisation Programme. 
“Out of 300 interested entities, 42 were chosen, receiving 40 flare sites for independent development, while four entities got 9 sites each for cluster development. The allocated entities are expected to commence full operations on their sites this year.
“Another milestone in our journey towards a gas-focused economy is the Ajaokuta-Kaduna-Kano (AKK) pipeline. 
“I am pleased to report that significant progress has been made in constructing this critical infrastructure project, and we are on track to ensure its completion and commissioning as scheduled.
“The Obiafu/Obrikom/Oben (OB3) is a vital piece of gas infrastructure for the supply of feedstock to the AKK pipeline. This pipeline is among Nigeria and Africa’s biggest gas transmission systems. 
“Per the contractor’s estimates, I am pleased to announce that the OB3 pipeline will be completed by March 2024, and the 42″ 127 km pipeline will supply 2BCF daily. 
“Upon completion, this pipeline will provide the AKK pipeline with gas from the three fields of Obiafu, Obrikom, and Oben. I want to use this opportunity to appreciate the resilience of the NNPCL Group for their steadfastness and proactive approach to ensuring the timely completion of the OB3 pipeline project.
“The administration of President Bola Ahmed Tinubu is fully committed to creating an environment that enables the growth of the gas sector. 
“The administration actively implements policies and regulatory frameworks encouraging investment, promoting innovation, and ensuring sustainability. 
“The private sector is welcome onboard. Together, we can transform our abundant natural gas resources into a driving force for economic development and ensure that Nigeria emerges as a key player in the global energy landscape.
“The gas sector is not merely a component but a cornerstone in navigating the challenges and opportunities presented by the new energy world order. 
“Let us leverage our rich gas resources to enhance energy security, facilitate a seamless transition, and attract the necessary finance to propel Nigeria into a sustainable and prosperous energy future.”

The Southernexaminer