Nigeria is to harness its oil reserves and pursue its plans to extend oil output to fill the ”yawning hole” in Africa.
Dr Heineken Lokpobiri, Minister of State for Petroleum (Oil), mentioned this on Tuesday on the thirteenth Sensible Nigerian Content material Discussion board organized by the Nigerian Content material Growth and Monitoring Board (NCDMB) in Yenagoa.
Mr Lokponiri defined that no nation on this planet will cease the manufacturing of the fossil fuels when there are nonetheless markets for it.
Talking on the theme “Deepening the Subsequent Frontier for Nigerian Content material Implementation”, the minister noticed that even UK was nonetheless giving licenses for exploration.
“All these grammar for power transition that say we should always cease manufacturing of fossil gasoline, we are going to by no means cease the manufacturing of fossil gasoline in Nigeria, no nation on this planet will cease it.
“In 2023, UK which contributes 4.8 per cent of worldwide emissions, larger than your entire OPEC nations put collectively, whole African continent put collectively gave over 100 licenses to new firms for brand new exploration.
”America is the very best producer of fossil gasoline, so why ought to we cease, those that are telling us to cease are themselves not stopping, so we should always know that’s about politics.
“Let me additionally use the chance to inform the trade gamers that with the emergence of Donald Trump as U.S. President, the worth of oil perhaps be battered.
”What I would like us to do is to extend our personal manufacturing, Africa already has sufficient market. We will produce sufficient gasoline to provide the West African area and your entire Africa, however our greatest problem is funding,” he mentioned.
Additionally talking, the Minister of State for Petroleum (Gasoline), Obongemen Ekperikpe Ekpo, urged native companies within the nation to spend money on Compressed Pure Gasoline (GNG) as fuel will probably be a mainstay of economic system after power transition.
“Gasoline would be the mainstay of Nigeria’s power shift, and we’re giving native companies an opportunity to interact in fuel distribution, processing and energy era.
”The possible alternative for PMS has been decided to be pure fuel in type of CNG.
“Let me reiterate this administration’s unwavering dedication to advancing native content material as a cornerstone of our power technique, collectively, now we have the chance to constructed an power trade that empowers Nigerians, strengthens our economic system and contributes to the sustainable future,” he mentioned.
Earlier, the Govt Secretary of the NCDMB, Felix Ogbe mentioned the board has achieved 56 per cent in Nigerian Content material degree in 2024 examine to 26 per cent in 2016.
He said that among the achievements of the board embrace; Commissioning of Amal Applied sciences in Idu, Abuja; and the Kwale Gasoline Gathering facility in Delta, approval of 312 Nigerian Content material Plans, and issuance of 402 Nigerian Content material Compliance Certificates, NCCCs, bythe board amongst others.NAN
