February 25, 2024

Kyari, NNPCL CEO recommends multi-stakeholder approach, market mechanism as solutions to achieving affordable, clean, sustainable energy in Nigeria

Mele Kyari, NNPCL GCEO

 

Oredola Adeola

 

Mele Kyari, Group Chief Executive Officer of NNPC Limited, has disclosed that Nigeria can achieve energy accessibility, affordability, and sustainability through a multi-stakeholder approach that balances political will, technological innovation, effective market mechanisms, well-crafted policy interventions, and capacity building.

 

Kyari made this known in Lagos, while delivering a keynote address at the Society of Petroleum Engineers’ Annual International Conference and Exhibition, NAICE 2023, speaking on the theme, “Balancing Energy Accessibility, Affordability, and Sustainability: Strategic Options for Africa.

 

Represented by Engr. Adokiye Tombomieye, Executive Vice President, Upstream, NNPCL, the NNPCL GCEO said emphasised on need for government, the private sector, civil society, host community and the public at large. to collaborate in developing strategies to balance energy availability with meeting the United Nations Sustainable Development Goals No 7 (Affordable and Clean Energy) and No 13 (Climate Action).

 

According to him, collaboration is important because energy availability is crucial for economic growth and development, adding that the availability must be balanced with the need to reduce carbon emissions and mitigate climate change.

 

Kyari, hinted that the three keywords  energy accessibility, affordability, and sustainability pertain to Africa and Nigeria respectively.

 

He said, “Energy accessibility refers to ensuring that all citizens can access reliable and modern energy regardless of their location or socio-economic status.

 

“Energy affordability involves pricing energy and its infrastructure in a way that allows Africans to obtain them without financial strain.

 

“Energy sustainability means that energy use does not harm the local environment or exhaust resources, considering the well-being of future generations,” Kyari said.

 

Speaking further the GCEO emphasised  that Nigeria is not transitioning away from the hydrocarbon, adding that the country hopes to see an increase in the footprint of alternative cleaner energy sources in the foreseeable future amid fossil fuel dominance.

 

He said, “We use what we have to get to our desired destination. That is why NNPC Limited has identified gas as a transition fuel, and we are expanding our gas development and gas infrastructure across the country to increase energy accessibility.

 

“Today, Nigeria has about 209.5 Trillion Cubic Feet of natural gas reserves with a potential upside of up
to 600 TCF, and this is an enormous resource that would drive cleaner and affordable energy vision.

 

According to Kyari, gas transportation projects are being aggressively developed to achieve affordable and clean energy for Nigerians.

 

He believes that alternative energy sources such as solar and wind are faced with technology limitations, which makes them not affordable and unable to meet the high energy demands of industries, cities, and remote environments.

He said, “NNPC Limited plans to sustain and increase our aggressive gas development and gas transportation projects to achieve affordable and clean energy which is the United Nations Sustainable Development Goal (SDG), Goal No. 7, as our strategic energy plan towards finding a balance for the energy trilemma.