The Petroleum Technology Association of Nigeria, PETAN, has called on Nigeria and other African nations to chart their independent energy transition paths.
Many experts in Europe and other continents have already called for an immediate ‘ban’ of fossil fuel, citing its environmental hazards and other factors as reasons.
Responding to this clamour while speaking at the opening of the Offshore Technology Conference, OTC, in Houston, United States, Chairman of the Nigeria Pavillion opening ceremony at the OTC, Chinedu Maduakoh, said the time has come for Nigeria and other African nations to pursue their energy transition dreams.
He said: “The clean energy transition debate, no doubt, presents an opportunity for many African countries to chart sustainable energy systems of their own, but capital is an enormous mitigating factor which calls for strengthened regional action to address existing barriers and identify practical steps which regional governments can take to promote capital deployment and adopt the technologies best-suited for their region.
“Africa, home to one-sixth of the global population and accounting for less than 6% of the global energy consumption and 2% of cumulative global emissions according to reports, still has a comparative advantage and potential growth in the energy sector even as fossil fuels remain our enduring source of government revenue.
“However, bridging the finance gap, embracing new technologies, and replicating successful models in other sectors can help to further increase value-retention along the global value chain and deepen the process of economic integration in alignment with the African Continental Free Trade Area (AfCFTA) Agreement which has the potential to lift more Africans out of the vicious cycle of poverty and inter-generational dependency.
However, the Chairman, Board of the Nigerian National Petroleum Company Limited (NNPC), Senator Margrey Chuba-Okadigbo, expressed optimism over the petroleum sector’s growth and development in Nigeria.
He made this known while declaring open the Nigerian Pavilion at the 2022 OTC which has, “Energy Transition and the Future of Africa” as its theme .
Earlier in his opening remarks, the Chairman of Petroleum Technology Association of Nigeria, PETAN, Mr Nicolas Odinuwe, said the theme of this year was carefully chosen to “reflect the current realities in African oil and gas.”
Odinuwe called on the Nigerian oil and gas industry leaders to continue to echo PETAN’s calls to deepen Nigerian content as always and implore NNPC limited board and others to indulge the association.
According to him, “OTC means different things to different people. But thanks to PETAN’S focused participation. PETAN and Nigeria have built capacities, capabilities and visibility.
PETAN has been the host of the Nigerian pavilion for over 15 years. “And we have been fully supported by the Nigerian National Petroleum Corporation (now NNPC Limited) which is in transition. We are here to continue to propagate, advocate and advance technology that has led to Nigeria being the only country in Sub-Saharan Africa with a robust exploration and production service industry,” he said.
