Oando recommends establishment of industries around gas reserves to drive down operational costs
Akinbambo Ibidapo-Obe
Oredola Adeola
Oando Energy Resources has urged investors in Nigeria to consider setting up their plants and industries around natural gas reserves where the resources are abundant to drive down operational costs and create a multiplier effect.
Akinbambo Ibidapo-Obe, General Manager, Commercial, Oando Energy Resources, made this remark at the African Natural Resource and Energy Investment Summit, in a plenary session themed ‘Utilizing Natural Gas as a Key Energy Source,’ in Abuja.
According to him, Nigeria is among the world’s leading gas-producing countries, yet only less than 15 percent of our gas is utilised.
He therefore emphasised Nigerians have to identify the less utilisation of the gas resources as an opportunity to develop the country’s industrial capacity.
He said, “We should consider locating these industries where the resources are abundant.
“It is essential to build industries where the gas can have a multiplier effect, such as developing the host communities and increasing job opportunities. Many industrial costs are related to continuity.
Ibidapo-Obe while speaking on Africa’s energy security as well as the role of natural gas in meeting the growing energy needs of the continent, stated that “Natural gas holds the potential to shape Nigeria’s sustainable energy future.
Commenting on Energy transition in African perspective, Oando Energy, GM, Commercial said, “We need to view the concept of an ‘energy transition’ as an opportunity for change.
“At least until 2040, the top four renewable energy sources are natural gas, oil, wind and solar.
Commenting on the controversy over energy security amidst growing call for energy transition in Nigeria, Ibidapo-Obe stated that he does not believe Nigerians should panic.
According to him, “Energy transition is about integrating traditional energy with alternative solutions.
“This is not a time to panic but an opportunity to leverage new possibilities, develop infrastructure, secure long-term planning, and reduce costs, we can use reserves and promote renewable energy.
“Stay calm and see the available opportunities”, he said
He, therefore, emphasised that Oando is exploring several renewable energy initiatives through its subsidiary, Oando Clean Energy, focusing on capacity and sustainability.
