The executive secretary, of the Petroleum Technology Development Fund (PTDF), Gusau Bello has advised that the exploitation of hydrocarbon would play an important role in shaping Africa’s energy future.
Bello said this on Tuesday at the opening of the 15th Annual Conference of the Nigerian Association for Energy Economics (NAEE).
He said, “Consequently, it is our opinion that some African countries are rising to the challenge and have robust plans in place to finance this transition from its hydrocarbon resources.
“This strategy is necessary because most countries with abundant hydrocarbon resources, would have to completely overhaul their energy mix, especially in the transportation and industrial sectors of the economy to meet Net Zero emission target by 2050, in-line with targets set by International Energy Agency (IEA),” he said.
“And one of the most important steps, the present administration took towards the actualisation of this transition was the declaration of a “Decade of Gas’’ in 2020.
“This laudable initiative serves as an opportunity to optimise the nation’s gas derivatives and deepen its market participation via infrastructure development and diversify into petrochemical products.
“And one of the most important steps, the present administration took towards the actualisation of this transition was the declaration of a “Decade of Gas’’ in 2020.”
