Nigeria has been urged, to be able to dominate the supply of Gas, Power and Petroleum products to West and Central Africa. This advice was given by a panel during an industry pre-conference workshop.
Dominating energy supply in Africa will enable the country to achieve Domestic and Regional Energy Security Value– driven Energy Transition Program Oil & Gas as an economic enabler, not just a forex earner.
The panel advised that the transition of gas production from international oil and gas companies to local companies is what Nigeria needs to revamp its energy production. They agreed that this transition would enable the country to grow its production to over two million barrels of oil per day.
The panel included: Jide Agbabiaka, retired Executive Director ExxonMobil Nigeria, who moderated the conversation featured in the conversation were, Ebi Omatsola, Africa’s leading exploration thinker and founding Managing Director Conoil Producing; George Osahon, former Director of the Department of Petroleum Resources (DPR) and Jim Orife, former General Manager of all of NNPC’s JVs in the 1980s. They were joined by Austin Avuru, founding Chief Executive of Seplat Energy and James Makinde, General Manager, Gas Business at Seplat Energy.
In his address, Avuru said that Nigeria needs to come up with strategies for implementing energy plans, as there was little or no strategy for implementing any energy plan that Nigerian policymakers had drawn up in the last 10 years. This has invested in oil and gas to be mute for long.
To address this, the panel advised that the nation should incentivize the domestic gas market over export. “Gas can be fuel for economic growth.”