Expert urges immediate action to harness Nigeria’s gas resources
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By Yunus Yusuf
Mr Osayande Igiehon, Chief Executive Officer of Heirs Energies Ltd., has called for urgent action to leverage Nigeria’s gas resources to secure the country’s energy future and promote sustainable development.
Igiehon made this remarks during a panel discussion at the Nigeria Energy Leadership Summit on Thursday in lagos.
The theme of the summit is “Powering Nigeria’s Future: Leveraging Gas-to-Power Solutions for Energy Security and Sustainable Development”.
He emphasised that collaboration between upstream companies like Heirs Energies and power generation firms was essential for creating a seamless value chain that could unlock the full potential of Nigeria’s natural resources for the benefit of all citizens.
“Gas-to-power solutions are not just an option; they are the cornerstone of Nigeria’s energy future; the country stands at a pivotal moment in its energy landscape.
“Despite ongoing energy challenges, Nigeria is endowed with abundant natural gas resources.
“The critical question is not whether we can power our nation, but how we can effectively harness these resources to ensure energy security and foster sustainable development,” he said.
Igiehon pointed out that gas-to-power offers a reliable bridge to a sustainable energy future, while the pursuit of renewable energy was vital.
“A stable baseload energy supply is necessary, and natural gas provides that stability.”
He said that it also served as a cleaner alternative to coal and diesel, helping to reduce carbon emissions while stabilising the national grid.
“Economically, utilising gas for power generation is crucial. It decreases our dependence on imported fuels, strengthens energy security and stimulates a robust domestic gas market, leading to job creation, investment attraction, and overall growth across the value chain.”
He highlighted that reliable electricity was essential for human development, powering hospitals, schools, and businesses.
”It is also the backbone of industrialisation, innovation, and productivity.
Igiehon acknowledged the Federal Government’s ambitious targets for the electricity sector by 2030, aiming for over 90 per cent access for the population, with renewable energy projected to account for more than 30 per cent of generation.
He described these goals as challenging yet attainable through collaboration and effective resource management.
“Achieving these targets requires more than goodwill, it demands unified, decisive action from all stakeholders.
“The federal government must ensure a stable, transparent regulatory environment to foster investment in gas production, infrastructure, and power generation,” he said.
“The 2021 Petroleum Industry Act and the 2024 Presidential Directives are crucial for gas production and transportation, while the 2022 Power Sector Reform Bill facilitates participation across the electricity value chain.”
He also called on the private sector to develop innovative solutions and provide capital for essential infrastructure, including gas processing plants, pipelines, modern power stations, and grid upgrades.
“As industry leaders, we must collaborate to enhance rural electrification through distributed solar, mini-grids, and off-grid technologies.
“The potential for $9.2 billion annually in solar mini-grid investments is substantial, but challenges like inadequate infrastructure and regulatory hurdles must be addressed collectively,” he explained.
Igiehon reaffirmed Heirs Energies’ commitment to being a strategic supplier of gas to power plants and industries, emphasising their role in ensuring Nigeria’s energy security.
“Our mission goes beyond just delivering energy; we are dedicated to meeting Africa’s energy needs sustainably and responsibly.
“This includes investing in advanced technologies to reduce flaring and minimise methane emissions, while working closely with communities to ensure equitable benefits from energy development.
“The road ahead will be challenging, but Nigeria possesses the talent, expertise, and determination to overcome these obstacles.
“Together we can reshape the nation’s energy narrative into one, where reliable, affordable, and cleaner energy fuels economic growth and enhances the quality of life for all Nigerians,” he added
Igiehon noted that Nigeria is poised to not only meet its domestic energy needs but also to emerge as a leading energy exporter in Africa and beyond.
