The Permanent Secretary, Ministry of Petroleum Resources, Amb. Gabriel Tanimu Aduda has urged global Oil and Gas stakeholders to embrace collaboration in the quest to emplace energy safety, affordability, security and sustainability across the value chain.
Aduda made the call at the recent Global Energy Show in Calgary, Canada, where he was a special guest.
The Permanent Secretary was at a roundtable discussion with the Premier of Calgary, Danielle Smith and a select group of industry leaders for critical deliberations on the present and future of energy transition, decarbonization commitments, net-zero emissions, and emerging technologies.
Aduda, during the discussions, expressed the willingness and readiness of Nigeria to collaborate with Alberta, highlighting the growing number of Nigerian expatriates who are already contributing to the Oil and Gas Industry in the Province.
He emphasized Nigeria’s interest in capacity enhancement and the adoption of carbon capture and storage technologies.
Aduda also drew attention to the ongoing Extractive Resource Governance Program at the University of Calgary School of Public Policy, which has designed a curriculum with Nigeria’s Petroleum Industry Act (PIA) of 2021, the legislation governing the country’s oil and gas sector.
In his interaction with the Nigerian business community in Alberta, led by Deputy Minister of Trade, Immigration and Multiculturalism of the Province of Alberta, Dr. Akolisa Ufodike, Amb. Aduda touched on making Nigeria an attractive investment destination amid the global shift from carbon-based fuels.
The meeting with the Nigerian business community highlighted the similarities between Nigeria and Alberta with high hopes and optimism on the energy transition agenda, while participants were of the consensus on the need for Nigeria and Africa to define their terms of engagement with the world in terms of energy transition and carbon neutrality.
On Nigeria’s preparedness for investments, Aduda cited the deregulation of the downstream petroleum sector and the recent removal of subsidy on Premium Motor Spirit (PMS) coupled with the adoption of gas as a transitional fuel as measures which present significant opportunities for businesses in the sector.
He also highlighted the establishment of the Midstream Gas Infrastructure Fund and a Two Hundred and Fifty Billion Naira (250 Billion Naira) Central Bank of Nigeria Intervention Fund facility dedicated to gas expansion and domestication initiatives.
Speaking at a ministerial panel discussion, Aduda underscored Nigeria’s concerns, particularly regarding the volatility and uncertainty in oil prices vis-a-vis the challenges posed by recent global energy market turmoil resulting from the Russian invasion of Ukraine.
He noted that Nigeria depended on oil exports for revenue generation, making any sharp decline in prices detrimental to the country’s economy.
He also emphasized the disruptions in global energy supply chains and the geopolitical tensions surrounding energy resources, which pose threats to Nigeria’s energy security.
He further stressed the importance of ensuring a stable and reliable energy supply to sustain growth and meet the energy needs of Nigeria’s rapidly growing population.
At a bilateral meeting with the Czech Republic Minister of Trade, Jozef Sileka, discussion centered on the Czech Republic’s interest in establishing a government-to-government business agreement with Nigeria with a view to enhancing their access to oil and gas resources through this new partnership and suppliers.
In his response, Aduda assured the Czech Minister of Nigeria’s openness to engagement and implored him to channel their official request through the Czech embassy in Nigeria, outlining their requirements while the Nigerian government would proceed with the necessary steps and procedures.
The Permanent Secretary’s engagements at the Global Energy Show showcased Nigeria’s commitment to exploring collaborative opportunities, promoting sustainability and Safeguarding her energy security.
He expressed Nigeria’s resoluteness to defining its own pace for energy transition, decarbonization, methane emissions reduction, while simultaneously developing sustainable energy infrastructures.
Enefaa Bob-Manuel (Mrs.)
Director (Information)
MPR
