FID on Nigeria-Morocco Gas Pipeline coming in December – Kyari

According to him, energy transition is a very difficult subject for countries especially in sub-Saharan Africa because geographically, the situations are different as a number of the countries are dealing with energy availability, not transition, and energy availability is closely linked to energy security.

He stated: “The world has seen all the challenges thrown up recently by geopolitical events. It is clear that before the energy transition, countries must first attain security of energy supply in their countries. You cannot talk about energy security when it is not even available. In most sub-Saharan Africa, 70% of the population don’t have access to clean cooking fuels. Therefore, you must fill the supply gap first,”

Kyari said although people talk about using renewables to close the energy transition gap, the money for the renewables too must be found.

“If you insist on completing substitution today, then you have to deal with the problem of supply. For us today, the transition must be differentiated. Even if Africa decides to switch off its fossil fuels, it only accounts for just about 3% of the entire global emissions,” he added.

He said that as at today, the NNPC’s focus is to build its capacity to deliver gas to the domestic market and beyond and that as a gas-endowed country, Nigeria must utilise its abundant gas resources to provide the alternative fuel that it needs.

“We understand the arguments towards attaining energy transition, but the cheapest way to achieve that is through gas. We see clear opportunities that gas creates. Today we are building several trunklines and other gas infrastructure that will supply gas to several gas networks,” Kyari noted.

He stated that as the largest oil and gas company and corporate entity in Africa, the NNPC is critical to Nigeria’s resource management and economic development.

He observed that the Petroleum Industry Act 2021 has reformed Nigeria’s oil and gas industry, by ensuring that the NNPC emerged as a fully commercial entity that is not only accountable and responsible to its shareholders, but also one that is on the pathway of getting quoted on the stock exchange.