Tag: Timipre Sylva

FG to grow oil reserves to 40bn barrels by 2025 – Sylva

Chief Timipre Sylva, Minister of Petroleum Resources, says one of the key mandates of the ministry is to grow oil reserves from the current 37 billion barrels to 40 billion barrels by 2025.

Sylva said this on Tuesday at the official ground-breaking of the Oil Prospecting Licenses (OPLs) 809 and 810 at the Kolmani River II well located at a border community between Bauchi and Gombe states.

The Kolmani Integrated Development Project was inaugurated by President Muhammadu Buhari with some top government officials including governors, cabinet members, captains of industry and Nigerian National Petroleum Company Ltd. (NNPCL) officials, among others in attendance.

He said he was particularly excited at the partnership between NNPCL, Sterling Global Oil, and New Nigeria Development Commission (NNDC), to carry out the drilling campaign.

“This is a testimony of the fact that the hydrocarbons sector still holds promise of returns on investment, highlighting the role that this resource will continue to play in the global energy mix,” Sylva said.

He recalled that in 2019 when the NNPC announced that it had encountered oil in ‘commercial quantities’ at the Kolmani River well II, the nation celebrated the news as a fitting outcome for years of geological investigations.

“In spite of the enormity of challenges that NNPC was confronted with, the day has come when we can collectively witness and celebrate drilling for hydrocarbons in the North of our dear country,” he said.

He said the ministry was committed to finding and developing ways to end energy poverty, create shared prosperity and enthrone sustainable development.

Sylva said the Petroleum Industry Act (PIA) provided regulatory support and framework for achieving this mandate by providing Frontier Exploration Fund which the NNPC could utilise to deploy world-class cutting-edge technologies to de-risk exploration in frontier basins.

“The commencement of drilling of Kolmani fields which could hold as much as one billion barrels crude oil reserve, will significantly contribute in boosting our oil reserves and ensuring our continuous energy sufficiency,” he said.

He thanked the President for demonstrating his commitment to the uninhibited development of the petroleum industry.

In a remark, the Group Chief Executive Officer, NNPCL, Malam Mele Kyari, said the discovery of commercial oil and gas deposit at Kolmani oil field in 2019 was further appraised and validated by Kolmani team.

Kyari, while thanking the Bauchi and Gombe states governments and their partners said development of framework was put in place to guarrantee financing and technology required to deliver the integrated project.

He assured the President that it would leverage every mechanism including asset based financing framework for delivery of the project for it to stand out as the administration’s lasting legacies.

Dr Ahmad Lawan, the Senate President, also lauded the President for achieving a landmark feat, adding that the Petroleum Industry Act (PIA) provided in section nine, five and four 30 per cent of profit from oil exploration.

Lawan said that Bauchi and Gombe states would soon be benefiting from the 13 per cent derivation and the host community development fund which would have serious impact on the lives of the host community dwellers.

He urged the government to use revenue generated from oil to improve livelihood of the dwellers and also to ensure deployment of technology as well as ensure safe environment.

The senate president, while decrying the worrisome sight of Niger-Delter region, especially Ogoni Land advised operators of the oil fields to avoid contaminating the environment.

In an address, the Group Managing Director, NNDC, Shehu Mai-Borno, pledged commitment toward the realisation of the integrated development project.

Also speaking, the Managing Director, Sterling Oil Exploration and Energy Production Company Ltd., Mr Mohit Barot, presented a short video indicating the project overview.

Barot, while thanking the Federal Government for finding the company as a reliable partner for achieving energy security said it had secured requisite financing required for the project.

November 23, 2022
Flood impact ranking: Bayelsa Govt tackles Ministry of Humanitarian Affairs

The Bayelsa government on Friday faulted the ranking of flood impacted states as presented by the Ministry of Humanitarian Affairs, Disaster Management and Social Development.

Recall that the Minister, Sadiya Farouq, had told State House Correspondents that Bayelsa is not among the 10 most impacted states by the 2022 flood.

The Minister had listed the death toll, number of buildings, farmlands partially and totally destroyed amongst others as part of criteria used in the assessment.

However, the Bayelsa government, in a statement signed by its Information Commissioner, Mr Ayiba Duba, described the Minister’s claim as disheartening and contrary to existing facts.

Duba regretted the slow response to the humanitarian crisis arising from the flood in spite of the President’s directive to relevant agencies of the federal government to come to the aid of the state.

He alleged that the Faroud-led ministry and its agencies have abandoned their responsibility and are not interested in managing the disaster.

“Indeed, the Minister is already turning into part of the disaster she was appointed to manage. She had earlier claimed that only four Local Government Areas of the state were impacted by the unprecedented flood.

“She was obviously relying on bogus data in contradiction to the clear reality that every local government in the state is impacted by the flood in varying degrees.

“The way the minister has treated our state is so unfortunate that our people are beginning to doubt that we are part of Nigeria,” Duba said.

He wondered which criteria were used to arrive at the ranking since no representative of the Federal Government has visited Bayelsa to assess the situation.

The Bayelsa government further claimed that the Federal Government has not shown sufficient empathy since the natural disaster hit the state one month ago.

“And we are asking, is Bayelsa State still part of Nigeria? Are we only important when it is time to exploit the resources in our land?

“If the minister is sincere, let her tell Nigerians the relief materials brought to the state and who received them,” Duba said.

According to Duba, the Minister and Indeed the Federal Government are not fair to the people of Bayelsa who have been traumatized by losing loved ones, homes and livelihoods.

The commissioner explained that the minister’s data with which she came to the conclusion that Bayelsa was not even one of the 10 most impacted states, contradicts basic science, common sense, concern and kindness.

“How can a state up North, Jigawa, be worst impacted when indeed Bayelsa State has the unfortunate responsibility of receiving the flood water that ran through more than 15 states?

“The data used by the Federal ministry to arrive at the conclusion is suspect and erroneous,” he said, indicating by the realities on ground, over 300 communities were impacted by the flood and almost a million people were displaced from their homes, many of them losing their livelihoods.

“And no other state in the Federation is so impacted. If the Minister is desirous of doing a good job, she should come to Bayelsa State to ascertain the truth, even as the flood has started to recede,” Duba said.

Meanwhile, the Minister of State for Petroleum Resources, Chief Timipre Sylva, on Thursday visited some impacted communities and displaced persons’ camps and called for joint efforts by Bayelsa and the Federal governments to assist victims.

Sylva, a former governor of Bayelsa, said he was unimpressed with the preparedness of Bayelsa government, adding that portions of the East-West road, cut off by the floods, would be fixed expeditiously.

November 4, 2022
Flood aftermath: FG assures of prompt repair of East-West Road

Minister of State for Petroleum Resources, Chief Timipre Sylva, says the Federal Government has taken steps to repair the section of the East-West Road washed away by floods.

Sylva gave the assurance on Thursday during an inspection of some failed portions of the highway.

He described the destruction of the road by floods as unbelievable, noting that a permanent and lasting solution must be found.

“The devastation is unbelievable. I have come with a message from the Federal Executive Council (FEC).

“We have given a directive to the Niger Delta Development Commission and the Niger Delta Ministry to ensure that the repairs of this road are completed expeditiously.

“This flooding happens every year; as we stand here we know that the water is receding but the water will come back in a matter of few months next year.

“We must look for some kind of solution to this problem which has bedevilled us every year.

“We have to work together as a people and leave our political differences; we are not here to campaign, this is not about any campaign.

“This is about Nigeria and the wellbeing of Nigerians and that is why we have come here and the FEC has directly taken steps to ensure this devastation that we see here is ameliorated as quickly as possible, Sylva said.

The minister also visited some Internally Displaced Persons camps and directed the Nigerian Content Development and Monitoring Board (NCDMB) to donate relief materials to the flood victims.

Sylva was accompanied on the tour by the Executive Secretary of NCDMB, Mr Simbi Wabote.

November 3, 2022
Fuel price increase not from government – Sylva

The Minister of State for Petroleum Resources, Chief Timipre Sylva has disclosed that the increase in the price of Premium Motor Spirit (PMS), otherwise known as fuel, is not by the government.

TheNewsGuru.com (TNG) reports Sylva, who disclosed this while speaking with journalists on Monday in Abuja, stressed that the federal government was yet to remove subsidies on fuel.

The minister spoke on the sidelines of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) stakeholders’ consultation forum on regulations.

The forum was organised by the authority to consider and review the midstream and downstream petroleum regulations to bequeath the industry with laws and policies to enable needed investment in the sector.

Sylva was reacting to the increase in pump price of petroleum by marketers from N165 per litre to N169, N184 and N218 per litre depending on the area in Abuja and other states.

“I can tell you authoritatively, we have not deregulated. The government is still subsidising petrol prices. If there are increases in price, it is not from the government.

“It is probably from the marketers but of course, I will talk to the authority to ensure that they actually regulate the price. This is not from the government, we have not deregulated.

“But a lot is going on to ensure that the queues end. As of yesterday, I noticed that the queues in Abuja are easing off,” the minister said.

Recall that there was fuel scarcity recently in Abuja and several other cities across the country. Although the crisis in Abuja began in 2021 after the government announced plans to remove fuel subsidy, a major shortage hit major cities including Lagos in February.

This led to queues at filling stations and left millions unable to power their cars and generators they rely on for electricity. The discovery of high amounts of methanol in imported fuel also contributed to the scarcity then, as authorities tried to replace the off-spec product across the country.

The crisis lingered for months in spite of the Federal Government’s assurance that it had sufficient stock of petroleum products for distribution. The scarcity continued in Abuja “on and off”, while black market sales thrived.

The Association of Distributors and Transporters of Petroleum Products (ADITOP) had earlier disclosed that high cost of Automotive Gas Oil (AGO) used by petroleum tankers and low freight rate were responsible for the current fuel scarcity in the FCT.

The Federal Government had since increased the freight rate of transporters by N10 which was a huge jump from N10.46 to an additional N10 and now N20.46.

August 1, 2022
NNPC now free from institutional encumbrances – Buhari declares

President Muhammadu Buhari on Tuesday officially unveiled the Nigerian National Petroleum Company (NNPC) Limited and declared that the new national oil company is now forthwith free from institutional encumbrances.

President Buhari unveiled the new NNPC Limited while affirming that the company is mandated by law to ensure that Nigeria’s National Energy Security is guaranteed.

Speaking at the historic occasion at the State House Conference Centre, the President said Africa’s largest NOC would also support sustainable growth across other sectors of the economy as it delivers energy to the world.

“The provisions of PIA (Petroleum Industry Act) 2021, have given the Nigerian petroleum industry a new impetus, with an improved fiscal framework, transparent governance, enhanced regulation, and the creation of a commercially-driven and independent national oil company that will operate without relying on government funding and free from institutional regulations such as the Treasury Single Account, Public Procurement, and Fiscal Responsibility Acts.

“It will, of course, conduct itself under the best international business practice in transparency, governance, and commercial viability,” President Buhari said.

At the event, which featured a Special rendition of the Theme Song ”Energy for today, Energy for tomorrow, Energy for Everyone’‘ by an Ensemble, the president recounted how God had used him to consistently play an important role in shaping the destiny of the country’s NOC in the last 45 years.

He expressed optimism that the NNPC Limited would sustainably deliver value to its over 200 million shareholders and the global energy community; operate without relying on government funding and free from institutional regulations such as the Treasury Single Account (TSA).

‘‘This is a landmark event for the Nigerian oil industry.

‘‘Our country places high premium in creating the right atmosphere that supports investment and growth to boost our economy and continue to play an important role in sustaining global energy requirements.

‘‘We are transforming our petroleum industry, to strengthen its capacity and market relevance for the present and future global energy priorities.

‘‘By chance of history, I was privileged to lead the creation of the Nigerian National Petroleum Corporation on July 1, 1977. Forty-Four (44) years later, I was again privileged to sign the Petroleum Industry Act (PIA) in 2021, heralding the long-awaited reform of our petroleum sector,” he said.

According to him, the provisions of PIA 2021, have given the Nigerian petroleum industry a new impetus, with improved fiscal framework, transparent governance, enhanced regulation and the creation of a commercially-driven and independent National Oil Company.

He said this would enable the company to operate without relying on government funding and free from institutional regulations such as the Treasury Single Account, Public Procurement and Fiscal Responsibility Acts.

‘‘It will, of course, conduct itself under the best international business practice in transparency, governance and commercial viability.

‘‘Coincidentally, I, on the 1st of July 2022 authorized transfer of assets from the Nigerian National Petroleum Corporation to its successor company, the Nigerian National Petroleum Company Limited, and steered the implementation leading to the unveiling of Africa’s largest National Oil Company today.

‘‘I therefore thank Almighty God for choosing me to consistently play an important role in shaping the destiny of our National Oil Company from the good to the great,’’ he added.

The president, therefore, assured stakeholders in the industry that Africa’s largest NOC would adhere to its fundamental corporate values of Integrity, Excellence and Sustainability, while operating as a commercial, independent and viable NOC at par with its peers around the world.

He further stated that the company would focus on becoming a dynamic global energy company of choice to deliver energy for today, for tomorrow, for the day days after tomorrow.

He thanked the leadership and members of the National Assembly for demonstrating uncommon courage and patriotism in the passage of PIA that culminated in the creation of NNPCL.

Minister of State for Petroleum Resources, Timipre Sylva, said with the signing of the PIA, which assured international and local oil companies of adequate protection for their investments, ”the nation’s petroleum industry is no longer rudderless”.

He said: ‘‘From the onset of this administration, Mr. President never concealed his desire to create a more conducive environment for growth of the oil and gas sector, and addressing legitimate grievances of communities most impacted by extractive industries.

‘‘While the country was waiting for the PIA, Nigeria’s oil and gas industry lost about $50 billion worth of investments.

”In fact, between 2015 and 2019, KPMG states that “only 4 percent of the $70 billion investment inflows into Africa’s oil and gas industry came to Nigeria even though the country is the continent’s biggest producer and the largest reserves.

‘‘We are setting all these woes behind us, and a clear path for the survival and growth of our petroleum industry is now before us.”

Sylva described the unveiling of NNPC Limited as a new dawn in the quest for the growth and development of the Nigerian Oil and Gas Industry, opening new vintages for partnerships.

He thanked the president for his ”unparalleled leadership, steadfastness, and unalloyed support towards ensuring that the country’s oil and gas industry is on a sound footing”.

The Group Chief Executive Officer of NNPC Limited, Mele Kyari, announced that the company had adopted a strategic initiative to achieve the mandate of energy security for the country by rolling out a comprehensive expansion plan to grow its fuel retail presence from 547 to over 1500 outlets within the next six months.

He assured stakeholders and the global energy community that the new company was endowed with the ‘‘best human resources one can find anywhere in the industry.

‘‘NNPC Limited is positioned to lead Africa’s gradual transition to new energy by deepening natural gas production to create low carbon activities and positively change the story of energy poverty at home and around the world.”

July 19, 2022
Marginal fields: Amid rancour NUPRC awards licences to 161 coys

Amid rancour, The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has awarded Petroleum Prospecting Licences (PPLs) to 161 successful 2020 marginal fields awardees.

The commission also officially unveiled the Host Communities Development Regulations and model Petroleum Prospecting Licences (PPLs).

Chief Timipre Sylva, the Minister of State Petroleum Resources, at the unveiling and licences presentation on Tuesday in Abuja said the maiden presentation of the PPL was part of the implementation of Petroleum Industry Act (PIA), 2021.

The successful companies include Ardova Plc, Matrix Energy Ltd., Sun Trust Oil Company Limited, Deep Offshore Integrated Service Ltd., Island Energy Ltd. and Sigmund Oil Field Ltd.

Others are Shafa Exploration and Production Company Ltd., Emadeb Energy Ltd., Zigma Ltd., Inland Basin Ltd. and Petraco Oil Ltd., among others.

57 fields presented in the 2020 bid round met the criteria and were subsequently offered for bidding.

Out of the 665 entities that expressed interest in the exercise,161 emerged as potential awardees while out of the 57 fields, 41 were fully paid for.

Also, 37 fields were issued with the PPL having satisfied all conditions for award.

The minister commended the management and staff of the NUPRC for ensuring the successful completion of the process, which began in 2020.

He described it as a giant milestone for the administration.

“The implementation of the PIA 2021 is in top gear. Consequently, the new awardees should note that their assets will be fully governed by the provisions of the PIA 2021.

“As you develop your assets with the special purpose vehicles (SPVs), ensure that good oilfield practice is employed, environmental considerations and community stakeholders’ management are not neglected.

“It is my strong belief that the awardees would take advantage of the current attractive oil prices to bring these fields into full production within a short period to increase production, grow reserves and reduce cost of production.

“The onboarding of new oil and gas players in the petroleum sector is part of this government’s policy to encourage more indigenous participation in our petroleum operations,’’ he said.

Sylva said the development would boost activities in the oil and gas sector.

He added that it would boost production output and create additional employment opportunities for Nigerians

Mr Gbenga Komolafe, Commission Chief Executive (CCE) NUPRC, recalled that one of the major tasks inherited by the commission, upon its inauguration in 2021 was the need to conclude the 2020 Marginal Field Bid Round.

He said the exercise was faced with several constraints which included the COVID-19 interruption, partial payment of Signature Bonuses by some awardees, and the unwillingness of co-awardees to work together in forming SPVs for field development.

He said the marginal field’s award initiative began in 1999 and was borne out of the need to entrench the indigenisation policy of government in the upstream sector and build local content capacity.

He recalled that since its inception, a total of 30 fields had been awarded with 17 currently producing.

He said that the 2020 Marginal Field Bid Round exercise in respect of which PPLs were being issued had attracted government revenue of about N200 million and seven million dollars, respectively.

He said it was significant to note that the passage of the PIA brought an end to the era of Marginal Field awards.

“Section 94 (9) of the Act states that no new Marginal Field shall be declared under this Act”.

“Accordingly, the minister shall now award PPL on undeveloped fields following an open, fair, transparent, competitive, and non-discriminatory bidding process in line with Sections 73 and 74 of the Act,’’ he quoted.

Komolafe said the impact of the upswing in the crude oil price was not reflecting in the nation’s revenue earnings due to disruptions in our national oil production owing to sabotage, theft, and other operational challenges.

He urged the potential companies to take advantage of the current market realities and quickly bring their fields to production.

Speaking on the unveiled Host Communities Development Regulations, he said it was significant for the commencement of implementation of the provisions of Section 235 of the PIA, for attraction of dividends to the host communities.

Marginal oilfields: Ijaw leaders urge Petroleum Ministry to respect court order

Meanwhile, some Ijaw leaders in Bayelsa had urged the Minister of Petroleum Resources to respect a substituting order of the Federal High Court, Yenagoa on the Marginal Oilfields Licensing rounds.

The Court sitting in Yenagoa had restrained the Federal Government from issuing licences on marginal oilfields in the Niger Delta pending the determination of a pending suit.

The Ijaw leaders, in a letter to the Minister of Petroleum Resources through the Minister of State for Petroleum by their counsel, Mr Enie Otrofaniwei said the letter was to draw the federal government’s attention to the subsisting order.

The letter noted that as parties with legal representation in the suit, the Ministry of Petroleum Resources was expected to show examples in promoting the rule of law and abide by the court order.

They vowed to take legal steps to oppose violation of the court order

Marginal fields are shallow fields with less than 10 million barrels reserve which may not produce crude oil in commercial quantities immediately and would require further development to boost volume.

Some Ijaw leaders approached the court in 2020 seeking to halt licensing on marginal oilfields located in their domains.

Following setbacks and delays in the suit, however, the Federal Government announced bid winners on the fields on June 1, 2021.

Presiding Justice Isa Dashen granted the restraining order in favour of the Ijaw leaders.

Ijaw leaders who filed the suit are Chief Brown Agu (Opu Agu VIII), Mrs Rosemary John-Oduone, President Ijaw Women Connect and Mr Femowei Friend on behalf of themselves and the Ijaw ethnic nationality.

The Attorney-General of the Federation and Minister of Justice, the Minister of Petroleum Resources and the Minister of State for Petroleum Resources are defendants in the suit.

The Ijaw leaders asked the court to restrain the Federal Government from further advertising and receiving bids in respect of the marginal fields.

They also asked the court to restrain the Federal Government from approving licences in respect of the marginal fields.

Justice Dashen inherited the case from Justice Abimbola Awogboro following the latter’s transfer to the Lagos Division of the Court.

June 29, 2022
BREAKING: Minister of State for Petroleum, Sylva withdraws presidential bid

Chief Timipre Sylva, Minister of State for Petroleum, has withdrawn from the presidential race in the All Progressives Congress (APC) and has returned to work.

Reports emerging at the ministry in Abuja on Monday revealed that Sylva withdrew having considered the enormous work at hand at the ministry.

The Northern Solidarity Group had on May 9, presented the APC’s Expression of Interest and

Nomination form to the minister to enable him to contest the party’s 2023 presidential primaries.

An official at the ministry who chose to remain anonymous said Sylva withdrew from the race to support President Muhammadu Buhari in his quest to achieve a robust oil sector.

“He promised to consult the leader of the country and his political leaders the day he was presented with the form.

“He believes that concentrating on his work will attract more investments for the oil and gas sector.

“He has consulted and he believes that the challenges at the ministry and oil and gas sector are enough issues for him to begin to deal with now than going to pursue presidential ambition at the expense of the nation.

“The oil and gas sector is the mainstay of the economy and it is not like any other ministry somebody can just come in and take over.

“It requires some measures of time for the person to understand what is happening in the system.

“For the interest of the industry and the nation, he has decided to wave that personal ambition to see what he can contribute in the remaining part of President Buhari’s administration.

“The implementation of the Petroleum Industry Act 2021 is very critical and he wants to continue to make his own contribution to the day-to-day running of the country and support Mr President for robust achievements,” the official said.

Meanwhile, Mr Horatious Egua, Senior Special Assistant to the minister on media, when contacted, confirmed that the minister was back to work.

May 16, 2022
BREAKING: Timipre Sylva joins presidential race, buys N100m APC nomination form

Minister of State for Petroleum Resources, Timipre Sylva has joined the race for the 2023 presidential election.

TheNewsGuru.com (TNG) reports Sylva joined the 2023 presidential race after purchasing the nomination and expression of interest form of the ruling All Progressives Congress (APC).

It was gathered that a private group purchased the form for the former Bayelsa State Governor.

The private group known as Good People of Nigeria presented the nomination and expression of interest form to Sylva at the NNPC Towers in Abuja on Monday.

Details shortly…

May 9, 2022
Fuel in Nigeria now will last 32 days – Sylva

At least, for 32 days, Nigerians do not need to worry about fuel, as 1.9 billion litres of petrol is now in stock.

This was disclosed in Abuja, Wednesday, by the Minister of State for Petroleum Resources, Mr Timipre Sylva, while updating the Federal Executive Council in a session presided over by Vice President Yemi Osinbajo.

The Minister was accompanied to the FEC session by the Group Managing Director of the Nigerian National Petroleum Corporation, Mr Mele Kyari.

The Senior Special Assistant to the President, Office of the Vice President, Mr Laolu Akande, told newsmen at the end of the session that NNPC had embarked on 24-hour loading of petrol to ameliorate the long queues at fuel stations.

The minister informed the Council that there is enough stock – in reference to about 1.9 billion litres to last for 32 days.

“There’s a 24-hour loading that is going on at all depots working with the Directorate of State Service and the Independent Petroleum Marketers Association of Nigeria to ensure that the situation improves significantly,’’ he said.

Akande said. Some reports have it that fuel queues have reduced in Abuja, Kaduna and some other cities in the last 48 hours, linked to the fact that a good number of fuel stations have started operating 24-hour services.

March 9, 2022
Why Nigeria is unable to meet OPEC quota — Sylva

Chief Timipre Sylva, Minister of State for Petroleum Resources, has attributed the inability of Nigeria to meet the Organisation of Petroleum Exporting Countries (OPEC) quota to a lack of investments in the oil and gas sector.

Nigeria’s OPEC quota is pegged at 1.8 million barrels per day (bpd) but in the last few years, the country has struggled between 1.3 and 1.4 million bpd.

Sylva, according to a statement by his Senior Adviser (Media and Communications) Horatius Egua, on Wednesda, spoke at a ministerial plenary, at the ongoing Ceraweek, in Houston, Texas.

He said the speed with which international oil companies and other investors were withdrawing investments in hydrocarbon exploitation had contributed significantly to Nigeria’s inability to meet OPEC target.

According to Sylva, the rate at which investments were taken away was too fast.

“Lack of investment in the oil and gas sector contributed to Nigeria’s inability to meet OPEC quota. We are not able to get the needed investments to develop the sector and that affected us,” he added.

He also cited security challenges as another major factor that contributed to the lack of significant growth of the sector.

The minister added that the drive towards renewable energy by climate enthusiasts had discouraged funding for the sector.

Sylva, however, called for a change of attitude, stressing that in decades to come, hydrocarbon would continue to play a central role in meeting the energy needs of the world.

The minister, who is an advocate of gas as a transition fuel for Africa, said although Nigeria was in full support of the energy transition, the country, and the African continent, should be allowed to develop at its own pace.

This, he said, would enable the continent to be able to meet the energy needs of the over 600 million people who have no access to any form of power in Africa.

“There are about 600 million people in Africa without access to power, and of that number, the majority live in Nigeria.

“And of the over 900 million people without access to power in the world, the majority live in Africa. So how do we provide access to power for these people if you say we should not produce gas?

“We believe that gas is the way to go. We believe that gas is the way forward and the one access to power. For the energy transition programme to be taken seriously we need to have an inclusive energy transition programme.

“We believe in energy transition but we as Africans have our own peculiar problems and we are saying that our energy transition should be focused on gas to bridge the energy gap.

“This is what we have been saying. We need a just and equitable energy transition programme,” Sylva stated.

He maintained that Nigeria was not in any way against any transition programme but urged promotion of renewable energy as the only path to energy transition to give the less fortunate countries the opportunity to achieve energy sufficiency before doing away with fossil fuel.

“As Africans, we are saying that we must be allowed to transit through gas. We cannot achieve one energy base load through renewable alone.

“The rest of the world must listen to us. We are happy that our point of view is being taken,” he said.

March 9, 2022