As the call for energy transition intensifies, the Nigerian government has vowed not to ever stop fossil fuel production.
The Minister of States for Petroleum Resources (Oil), Heineken Lokpobiri, stated this on Wednesday at the Practical Nigerian Content Forum organised by the Nigerian Content Development and Monitoring Board in Bayelsa State.
According to Lokpobiri, the developed nations calling for energy transition have not stopped producing crude oil, wondering why Nigeria and Africa should stop.
“It is very instructive to say here that the future of Nigerian oil and gas depends on our local people. In this era of energy transition, anywhere I go, people are arguing about transition, but this debate about transition is basically geopolitics.
“They describe themselves as the Global North and describe us as the Global South. Global North are those who are developed, Global South and those who are developing; but you see, nobody can love you more than yourself, and you can only grow as a matter of choice,” he stated.
The minister noted that any country or region that wanted to grow must develop itself to be globally competitive.
“It is our strategic interest that the entire continent grows, and Africa, at this particular time, is in a very bad situation where we are suffering from energy poverty. And for us to catch up with the rest of the world, Africa must not be left out of the trade of energy security. And that’s why, anywhere I go in the world, I’ve always contended that energy transition means different things to different people.
“Whereas Africa remains a victim. After all, the entire African continent contributes only about 3 per cent of global emissions. Don’t be deceived by this grammar about energy transition, and say we should stop the production of fossil fuels. We will never stop fossil fuel production. Why I say so is because no country in the world is stopping.
“You just heard Donald Trump, after his victory in the United States, he said, ‘Drill, baby, drill’.
In just 2023, the United Kingdom that contribute 4.8 per cent of global emissions (higher than the entire OPEC countries put together). The entire OPEC countries put together contributes about 4 per cent of the entire emissions. African continent contributes about 3 per cent, but the UK, as one country, contributes 4.8 per cent.
“Yet, they gave over 100 licences to new companies for new explorations. Norway is ramping up production and America is the highest producer of fossil fuel and gas. So, why should we stop? Those who are telling you to stop are themselves not stopping,” the oil minister said.
Nigeria’s crude oil production reached 1.8 million barrels per day in November, according to the Nigerian National Petroleum Company Limited.
He challenged stakeholders to note that with the emergence of Trump, and with the philosophy of ‘Drill, baby drill’, the price of oil would be impacted, saying the way out is to increase oil production.
Also, the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Mele Kyari, reiterated the NNPC’s commitment to advancing local content development in Nigeria’s energy sector and driving sustainable growth of the industry.
Kyari, who was represented by the Executive Vice President of Upstream, Mr Udobong Ntia emphasised the significance of the PNC Forum as a unique opportunity for stakeholders to reflect on progress, share best practices and identify strategic growth opportunities.
He noted that the Nigerian Oil and Gas Industry Content Development Act of 2010 had ushered in a transformative era for local businesses, positioning them to compete on a global scale.
“The PNC has spawned several initiatives to address stakeholder concerns and maximise the benefits of our rich resources. We have a shared responsibility to empower local firms and drive innovation to ensure a robust oil and gas sector that meets both local and global demands,” Kyari stated.
The GCEO further emphasised the importance of fostering local capabilities, embracing advanced technologies,
