NNPC Will Lead Africa In Transition To Low-Carbon, Renewable Energy –Kyari

The Group Managing Director of the Nigerian National Petroleum Corporation, Mele Kyari, has said that the Corporation has put the necessary machineries in place to lead Africa in transition to low-carbon and renewable energy.

Speaking at the first quarter 2021 Public Lecture Series of Usman Dan-Fodio University, Sokoto, the GMD explained that the global transition to renewable energy will continue to gain momentum.

He said this would happen at a reduced pace enough to offset the impacts of worldwide economic expansion and population growth.

He said, “As global energy consumption grows from 2018 levels by about 50 per cent by 2050, it is apparent that oil and gas will continue to be a crucial component of the world’s future energy.

“The world will keep burning significant proportion of fossil fuels to sustain the anticipated progress and growth, especially in Asia and Africa.

“Modern day energy transition is hinged on the desire to shift from fossil fuels to renewable energy sources.

“Movers of this interest are motivated by among others, the quest for sustainable energy supply, Climate change considerations, enabling technologies, innovations and the overall socio-economic impact of the transition.”

Speaking further, the GMD noted that the later discovery of crude oil as an important energy source of the 20th century has supported tremendous economic and technological growth the world has ever seen.

He added, “Scientific development and advancement in technology have over the years shaped the dominance of oil as primary energy source and as a game changer in the progress of human society.

“Oil industry has changed the fortunes of both producing and consuming nations, creating wealth and prosperity that catalysed the growth of other sectors of the global economy.”

According to the GMD, further diversification of energy sources is expected to improve global access to energy especially in developing countries.

He stressed on the need for new energy transition to be fashioned towards creating a balanced landscape that supports the development and energy needs of diverse groups of people across the planet.

“The growth of oil industry is in many ways associated with the industry’s strategic role of powering the global economy and the collaborative interests of key stakeholders including policy makers, the academia, manufacturers and other experts that shape the direction of the industry and continuously improve capabilities across exploration, deep offshore access, shale oil production, oil and gas processing and transportation.

“This type of collaborative trend is again critical in navigating the next energy transition. The oil and gas industry alone cannot drive substantial innovation without sustained collaboration with universities, research institutes, manufacturers, policy makers and regulators.