Minister of State, Petroleum, Timipre Sylva at the weekend said Nigeria will play a key role in the global energy transition to achieve net-zero emissions, stressing that the country will stake natural gas as its favourite transition fuel.
The minister who spoke at the 10th anniversary of the West African Gas Pipeline Company Limited (WAPCo), themed: ‘‘Driving Regional Energy’’, which held in Lagos, said the government was taking steps to expand and develop its huge gas resources.
Sylva, who was represented by his Chief of Staff, Adedapo Odulaja, added that this was being done through enhanced gas exploration, development, and utilisation schemes.
With Nigeria’s approximately 209 trillion cubic feet (TCF) of proven gas reserves and a further potential of 600TCF, the minister maintained that Nigeria has no reason not to lead Africa in the energy transition race.
“Thus we are well placed to take a leading role in providing the much-needed gas. Furthermore, the recently enacted Petroleum Industry Act (PIA) will undoubtedly support Nigeria’s, and indeed the global, endeavour to eliminate energy poverty as envisioned in the UN’s Sustainable Development Goal (SDG).
“The Act has generous incentives to enhance the development, distribution, penetration, and utilisation of gas, even as it incentivises entry into the midstream, ” he pointed out.
According to him, the federal government will continue to expand the natural gas subsector with a view to ensuring global economic recovery and shared prosperity.
He added that the establishment of WAPCo represents the region’s effort at self-development and energy security, explaining that the WAGP project at inception was to improve the competitiveness of the energy sectors in Ghana, Benin, and Togo.
“This is by promoting the use of cheaper and environment-friendly natural gas from Nigeria in lieu of solid and liquid fuels, for power generation and other industrial, commercial, and domestic uses,” the minister noted.
“Ten years down the line, the WAGP has literally become the poster child of economic integration in West Africa.
“The synergy that created this fellowship of industry players, under the public-private partnership banner, is the type we currently preach as an administration,” he explained.
Managing Director, WAPCo, Greg Germani, in his comments, said from conception through to the operational phase of the WAGP, Nigeria had constituted an integral part of its value chain, with the country sharing resources with the rest of the sub-region.
“I also salute the vision and courage of ECOWAS and the commitment it took to navigate the complexities of forging a bond of four diverse nations, with two private concerns, to create this outstanding example of partnership and collaboration.
“As we travelled the entire stretch of the pipeline system, celebrating the successes and achievements of the WAGP and sharing our stories, I could only pause to marvel at the human spirit. Ten years of operations will certainly come with obstacles and challenges.
“However, WAPCo is now an efficient and dependable natural gas transporter to customers in Benin, Togo, and Ghana, supporting safe, cleaner, efficient, long-term, and secure power generation from gas supply sources in both Nigeria and Ghana,” Germani said.
