Nigeria will not abandon its oil and gas resources despite the global shift towards cleaner energy but will reposition them to drive economic growth and development, the Permanent Secretary, Ministry of Petroleum Resources, Emeka Obi, has said.
Mr Obi disclosed this at the 8th Valuechain Energy magazine annual lecture series held in Abuja on Tuesday.
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He explained that energy is not just a commodity but the lifeblood of indpustrialisation, the backbone of economic productivity, the driver of jobs, and a critical lever for social stability and national security.
He added that Nigeria is moving from an extractive economy to a value-driven energy economy.
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“The world is changing, but Nigeria is not abandoning oil and gas; we are repositioning them. Our government, the government of President Ahmed Bola Tinubu, strongly believes that gas is Nigeria’s transition fuel. It is cleaner, abundant, and central to power generation, fertiliser production, CNG/LNG mobility, industries and exports.
“Aligned with the Decade of Gas Initiative and the National Energy Transition Plan, Nigeria is building a new identity, not just as an oil exporter, but as an energy solutions hub for Africa,” Mr Obi said.
According to him, no nation has achieved sustainable prosperity without first resolving its energy question.
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“From manufacturing to agriculture, from transportation to digital infrastructure, every sector of the modern economy depends on reliable, affordable, and accessible energy. It is therefore no coincidence that countries with stable energy systems also have stronger currencies, lower unemployment, and more inclusive economic opportunities.”
He said Nigeria holds over 37 billion barrels of crude oil reserves and over 200 trillion cubic feet of natural gas, one of the largest in Africa.
When properly harnessed, he said, these resources should be a foundation for national transformation rather than a source of conflict and disappointment.
“That is why the enactment of the Petroleum Industry Act (PIA) 2021 remains one of the most consequential reforms in Nigeria’s modern history. It was not merely a legal reform; it was an economic reset, designed to improve transparency, strengthen governance, de-risk investments and reposition the sector for long-term growth,” he added.
Also speaking, Minister of Information and National Orientation, Mohammed Idris said Mr Tinubu has been clear from the outset that Nigeria’s economic revival depends heavily on a stable, modern, and efficient energy sector.
Mr Idris, represented by Mohammed Bulama, director general, Federal Radio Corporation of Nigeria, explained that the Renewed Hope Agenda places energy at the centre of sustainable growth, industrialisation, investment attraction, job creation, and long-term national competitiveness.
“This administration is taking decisive steps to reposition the sector steps that reflect courage, long-term planning, and a commitment to leaving Nigeria better than we found it.
“The administration’s push for Compressed Natural Gas (CNG) is part of a broader strategy for the evolution of a sustainable and affordable energy mix ecosystem that provides for cleaner fuel options and a plan to actively situate and support Nigerian citizens and businesses,” he said.
In his remarks, Musa Usman, Publisher/Editor-in-chief of Valuechain Magazine, explained that the global energy transition is challenging traditional models, noting that the urgency to maximise the nation’s resources for the benefit of all Nigerians has never been clearer.
“This moment forces us to confront essential national questions such as, how do we unlock the full potential of natural gas as a catalyst for industrialisation and power generation,” he said.
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