The Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, has restated the Federal Goverment’s stand on energy transition.
He said the Nigerian government was not against the global clamour for energy transition but that it would have to do so by defining the terms.
The minister stated this in his address at the panel session on Day 3 of the ongoing 2024 Nigerian International Energy Summit in Abuja on Wednesday, and insisted that the Nigerian government would soon come out with its terms of the energy transition.
The minister insisted that Nigeria was not against transition but would transit in a more environmentally friendly and sustainable way. “You can never find any better climate for oil businesses than Nigeria”, he noted.
Lokpobiri reiterated the resolve of the government to provide support and create an enabling environment for oil companies and businesses to thrive.
In his remarks, the Minister of State Petroleum Resources (Gas), Ekperikpe Ekpo, restated the adoption of Gas by the Federal Goverment as its transition fuel.
Abdurazaq Isa, Chairman of the Independent Petroleum Producers Group, in his address to delegates and experts, lined up for a panel session, expressed optimism that panellists would dissect key issues and proffer pragmatic solutions to some of the critical challenges facing the oil and gas industry.
Osagie Okunbor, Chairman, Oil Producers Trade Section, in his submission, noted that the diversification of supply sources has created opportunities for companies and countries to expand into new markets.
This, he said, has presented a very significant opportunity for Nigeria.
At a panel session, representatives of national oil companies and delegates from Ghana, South Africa, Namibia and The Gambia, discussed their roles as energy leaders in navigating the challenges and opportunities presented by the evolving global energy landscape and the financial dynamics shaping the industry’s future.
