Nigeria needs investments in fossil fuel to finance energy transition

Adewale Akintaro

The Minister of State for Petroleum Resources (Oil), Sen. Heineken Lokpobiri, has said Nigeria and Africa must invest in fossil fuel exploration to ensure seamless energy security and finance energy transition.

Lokpobiri made this known during the Ministerial Roundtable at the ongoing World Energy Congress, WEC2024 in Rotterdam, delving into the theme of evolving with resilience and justice in the energy sector.

The Minister, on his verified Facebook handle, posted about WEC2024, saying participants at the roundtable explored strategies to navigate the evolving energy landscape while ensuring fairness and resilience for present and future generations.

He said: “The imperative of balancing economic progress with environmental sustainability and social equity took centre stage during the Ministerial Roundtable at WEC2024 wherein we delved into the theme of evolving with resilience and justice in the energy sector.

“We explored strategies to navigate the evolving energy landscape while ensuring fairness and resilience for present and future generations. These deliberations underscore our commitment to steering the energy sector towards a more sustainable and just future.

“I spared no time in communicating my stance, which represents that of Nigeria and indeed Africa, on energy transition. We need all the support we can get for more investment in our fossil fuel exploration to guarantee energy security and finance energy transition.”