The Nigerian Government has stated that Nigeria will not halt fossil fuel production anytime soon, despite global advocacy for energy transition in response to climate change.
Minister of State for Petroleum (Oil), Heineken Lokpobiri, made this remark during the 13th Practical Nigerian Content Forum organized by the Nigerian Content Development and Monitoring Board (NCDMB) in Yenagoa, Bayelsa State.
Lokpobiri explained that no country, including those calling for an energy transition, is ready to stop fossil fuel production while there remains a market for it.
The minister cited the United Kingdom, which issued over 100 licenses for new oil exploration in 2023, despite contributing significantly to global emissions, as an example of a country that has not stopped fossil fuel production.
He also noted the potential challenges posed by price fluctuations, especially with the emergence of figures like Donald Trump, but reiterated the need for Nigeria to increase its oil production.
Lopkobiri further emphasized that Nigeria would continue its fossil fuel production to meet the energy needs of Africa, particularly in the West African region, and suggested that the African market provides ample opportunity for growth.
On his part, the Minister of State for Petroleum (Gas), Obongemen Ekperikpe Ekpo, highlighted the role of Compressed Natural Gas (CNG) in Nigeria’s energy future just as he encouraged local businesses to invest in the gas sector, as natural gas is expected to play a central role in the country’s energy shift following the transition away from fossil fuels.
