Nigeria needs affordable, reliable, accessible energy to prosper – Seplat
Seplat Energy PLC has said that in the quest to build a prosperous Nigeria, the country must target an affordable, reliable, and accessible energy regime for all. The Chief Operating Officer, Seplat Energy, Samson Ezugworie, said this whilst giving a keynote at the Opening Ceremony of the 43rd Nigerian Association of Petroleum Explorationists (NAPE) Annual International Conference & Exhibition held in Lagos.
The Seplat Energy COO, who spoke on the conference theme: ‘Revitalizing the Nigerian Petroleum Exploration and Production: Strategies for Energy Security and Sustainable Development’, stated that: “The imperative before us is clear. We must build a prosperous Nigeria, and we can only do that with affordable and reliable energy that is accessible to all,” according to a statement from the company by the Manager Corporate Communications, Stanley Opara.
“Today, more than 70 million Nigerians still lack access to electricity. More than 170 million people rely on biomass for cooking, and that’s terrible for the environment and for our households. And with Nigeria’s population projected to reach 237 million by 2025 and 400 million by 2050, the urgency to act is undeniable, because today’s problems will become far worse if we don’t take action now to solve them. We will have 160 million more people to feed and house, and we need to create 100 million new jobs. But imagine what Nigeria can achieve if we do?”
According to Ezugworie, to meet these challenges, Nigeria must increase oil production — not just to boost national revenues and reduce current shortfall so our government can meet its budgetary needs, but also to drive GDP growth that reinforces the country’s position as the economic powerhouse of the African continent. He said: “We must also harness our huge reserves of gas and scale up gas and NGL production to expand domestic energy access, displace polluting imported generators, provide clean cooking for our people, and power our basic industries to support our national growth.
“The global energy landscape is shifting, and so too is our own. We are witnessing a transition in the ownership and operation of Nigeria’s vast natural resources as assets pass from well-funded, well-resourced international giants to local Nigerian operators, blessed with enthusiasm and expertise but less global in their outlook. It’s a shift that creates new capital dynamics in our need to raise international finance, while at the same time increasing our focus on managing risks and looking after our natural environment.
