Oritsegbubemi Omatseyin
Lagos — The Chief Executive Officer of the Nigerian Upstream Petroleum Regulatory Commission, NUPRC, Engr. Gbenga Komolafe, has highlighted the rapid transformation of the global energy landscape, amidst urgent climate concerns at the 2024 annual Sub–Saharan Africa International Petroleum Exhibition and Conference, SAIPEC, holding in Lagos, Nigeria.
The event is organised by the Petroleum Technology Association of Nigeria, PETAN.
Engr Komolafe who delivered the speech of the host nation Nigeria, underscored the pivotal moment facing the sector, with swift changes targeted to shape the future of energy worldwide.
Speaking in the wake of COP28, where discussions on fossil fuel phase out clashed with OPEC’s call for a balanced transition, Komolafe emphasised Nigeria’s commitment to aligning its energy transition with regional circumstances and economic goals. He referenced President Bola Tinubu’s address at the United Nations General Assembly in September 2023, echoing Nigeria’s dedication to the cause.
The NUPRC boss stressed the importance of ensuring energy justice, equity, and sustainability as Nigeria and other resource-rich economies navigate this evolving landscape.
He highlighted that the Petroleum Industry Act, of 2021 is a cornerstone initiative aimed at promoting transparency, efficiency, and innovation for sustainable development.
Discussing strategic measures to boost production, Komolafe outlined Nigeria’s efforts to enhance production and tap into its full potential despite challenges. These initiatives he outlined include transparency improvements, collaborative programme administration, accelerated field developments, optimised production, and the adoption of enhanced oil recovery technologies.
Furthermore, Engr Komolafe noted that Nigeria’s potential goes beyond traditional hydrocarbon resources to opportunities in green and blue hydrogen, solar, wind, biomass, and other renewable energy sources. This diversified approach, he emphasised, is crucial for sustainable energy development in the country.
