Despite the ongoing global campaign for energy transition, Nigeria’s Minister of State for Petroleum Resources (Oil), Mr. Heineken Lokpobiri says that the Nigerian government will never stop fossil fuel production.
Speaking at the Practical Nigerian Content Forum organised by the Nigerian Content Development and Monitoring Board on Wednesday in Yenegoa, Bayelsa State, the minister noted that the developed nations which are campaigning for energy transition, have not stopped producing crude oil and wonders why Nigeria and Africa should stop.
“It is very instructive to say here that the future of Nigerian oil and gas depends on our local people. In this era of energy transition, anywhere I go, people are arguing about transition, but this debate about transition is basically geopolitics.
“They describe themselves as the Global North and describe us as the Global South. Global North are those who are developed, Global South and those who are developing; but you see, nobody can love you more than yourself, and you can only grow as a matter of choice,” he said.
According to the Nigerian minister, any country or region that wants to grow must develop itself to be globally competitive.
“It is our strategic interest that the entire continent grows, and Africa, at this particular time, is in a very bad situation where we are suffering from energy poverty. And for us to catch up with the rest of the world, Africa must not be left out of the trade of energy security. And that’s why, anywhere I go in the world, I’ve always contended that energy transition means different things to different people.
“Whereas Africa remains a victim. After all, the entire African continent contributes only about 3 per cent of global emissions. Don’t be deceived by this grammar about energy transition, and say we should stop the production of fossil fuels. We will never stop fossil fuel production. Why I say so is because no country in the world is stopping.
“You just heard Donald Trump, after his victory in the United States, he said, ‘Drill, baby, drill’.
In just 2023, the United Kingdom that contribute 4.8 per cent of global emissions (higher than the entire OPEC countries put together). The entire OPEC countries put together contributes about 4 per cent of the entire emissions. African continent contributes about 3 per cent, but the UK, as one country, contributes 4.8 per cent.
“Yet, they gave over 100 licences to new companies for new explorations. Norway is ramping up production and America is the highest producer of fossil fuel and gas. So, why should we stop? Those who are telling you to stop are themselves not stopping,” the report by Punch newspaper on Thursday quoted the minister as saying.
He challenged stakeholders to note that with the emergence of Trump, and with the philosophy of ‘Drill, baby drill’, the price of oil would be impacted, saying the way out is to increase oil production.
GIK/APA