Nigeria faces the urgent need to shift away from its heavy reliance on diesel/petrol generators, a move that could significantly improve public health, reduce electricity costs, and propel development across all sectors.
This call to action was made by Roger Brown, the Chief Executive Officer of Seplat Energy Plc, during the recent opening ceremony of the Society of Petroleum Engineers (SPE) Nigeria Annual International Conference & Exhibition (NAICE) 2023 held in Lagos.
The conference’s theme, ‘Balancing Energy Accessibility, Affordability, and Sustainability: Strategic Options for Africa,’ underscored the crucial role of energy access in achieving the United Nations Sustainable Development Goals (SDGs) and fostering social and economic development across the African continent.
According to Brown, Nigeria should concentrate on bolstering the entire energy value chain, from well extraction to payment systems.
He stressed the importance of creating robust and efficient power grids while implementing attractive regulatory and pricing mechanisms to encourage innovation and investment throughout the energy sector.
Recognizing the role of gas as a transitional fuel, Brown asserted that Africa has the right to leverage its resources. To expand energy access to remote areas, he advocated for encouraging off-grid solutions and embracing renewable technologies where feasible.
Additionally, he emphasized the need to develop sales and distribution infrastructure for clean cooking fuel, such as bottled gas, to replace wood collection, which is currently the predominant method.
In terms of investment, Brown highlighted the global need to achieve net-zero emissions by 2050, projecting a required annual investment of $3.5 trillion (approximately 1.3% of global GDP).
Related Posts
To accomplish this, he called for capital allocation to developing economies responsible for significant emissions growth and urged reallocating funds away from the hydrocarbon sector and towards low-carbon technologies.
While focusing on sustainability, the CEO emphasized that increasing energy access in Africa should not come at the expense of the environment. Africa possesses abundant natural gas resources that can be harnessed to drive substantial social and economic gains while minimizing environmental impact.
Renewables also play a vital role in achieving universal energy access across the continent, with significant mineral resources essential for batteries and fuel cells.
Brown stressed that delivering universal energy access across Africa would yield enormous social and economic benefits.
However, this goal can only be achieved if governments establish the right pricing and regulatory frameworks to attract investment and ensure affordability for consumers.
The transition away from fossil fuels cannot rely solely on debt financing. Energy security and access require affordable, reliable, sustainable, and modern electricity, aligning with SDG7.
Nigeria’s move away from diesel/petrol generators is vital, as it can substantially improve public health and reduce electricity costs, which are currently hindering development in all sectors.
Brown advocated for using gas as a transitional solution, with a focus on increasing the efficiency of upstream oil and gas development to minimize carbon intensity and eliminate theft, flaring, and leaks.
In conclusion, Brown emphasized the importance of balancing environmental and social development efforts and called for collaboration between the North and South to ensure energy security, affordability, and sustainability. By taking strategic steps towards accessible, affordable, and sustainable energy solutions, Nigeria can position itself for accelerated development and contribute to Africa’s overall progress.
