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From Uche Usim, Abuja
As the conversation around the global energy transition agenda deepens, the Nigeria Extractive Industries Transparency Initiative (NEITI); the Natural Resources Governance Institute (NRGI), and BudgIT Foundation, an indigenous advocacy organization have hosted a National Dialogue on Energy Transition (NDE) in Nigeria with the intent of flaunting Nigeria’s gas resources as its energy of choice.
The dialogue also emphasized establishing transparency and accountability in promoting energy transition.
Speaking at the event in Abuja on Thursday, the Executive Secretary of NEITI, Dr Orji Ogbonnaya Orji, said NEITI believes that Nigeria’s energy transition journey must be driven and strictly guided by credible information and data on the country’s energy security and most importantly, the strategic national interest.
He emphasized that regardless of plans of many developed nations to halt investments in fossil fuels by the end of this year, Nigeria should resist being rushed into a hasty energy transition without a thorough analysis of its comparative advantage and implications on the resources, economy and livelihoods of the citizens.
The countries, which include the US, the EU, the UK, Switzerland, Italy, Portugal, and Canada, noted that the action to halt further investments was informed by the mission to align their international public support towards the clean energy transition and out of unabated fossil fuels that is consistent with the 1.5°C warming limit and goals of the Paris Agreement.
“Consequently, oil and gas companies are now channelling their investments into alternative energy sources.
“Nigeria must prepare a mainstream transparency and accountability mechanism into her energy transition agenda to avoid the pitfalls of her past and present energy sector.
“Being an oil and gas dependent country, Nigeria is highly vulnerable and exposed to the risks and challenges of the energy transition. The global energy transition agenda is already reshaping the oil and gas landscape.
“We have already commenced working with our partners to help citizens and stakeholders gain full insights on the risks and opportunities that are associated with the transition”, he noted.
Also speaking, the Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Limited (NNPCL), Mr Mele Kyari, who was represented by the company’s Chief Financial Officer, Umar Ajiya, said that Nigeria was totally committed to the energy transition agenda and emphasized on equitable options in advancing it so Nigeria is not shortchanged.
“Gas is our transition fuel and we will maximize it and add value through creating job opportunities and reducing poverty and security,” he stated.
Gabriel Okeowo, Country Director Budgit, in his remarks, said that the energy transition agenda was beyond the federal government as it also involves the private sector players and other stakeholders.
“How the plan would help boost the economy, create jobs and advance humanity is what we should discuss so that in the end, it would benefit all and sundry,” he said.
