APA – Lagos (Nigeria)
President Bola Tinubu has called for reevaluation of the Nigerian energy policies to ensure a sustainable and secure future.
Declaring open the 7th edition of the Nigerian International Energy Summit at the Banquet Hall of the Presidential Villa Abuja on Tuesday, Tinubu told the oil and gas executives captains of industry that the petroleum subsidy had over the years, strained Nigerian economic resources, leading to inefficiencies and most importantly, hindering investment in critical areas of energy security.
He said that the decision to remove the petroleum subsidy was not an easy one, but it was a necessary one for the long-term energy security and economic prosperity of the country.
President Tinubu, who was represented by Nigeria’s Minister of Information and National Orientation, Alhaji Mohammad Idris, called on all the stakeholders, including industry experts, policymakers and the general public to engage in constructive dialogue and collaboration as the nation navigates these challenging but transformative times.
“Together, we can build a resilient and sustainable energy future for Nigeria. While we are immersed on energy security, let us not forget that Energy Transition is another key aspect of our discussions. We stand on the brink of a new era, where traditional energy sources are being complemented and, in some cases, replaced by cleaner and more sustainable alternatives. This transition is not only an environmental necessity, but also an economic opportunity. We must leverage innovation and collaboration to ensure a smooth and just transition that will leave no one behind.” he added
In his speech at the Summit, the CEO of the NNPC Ltd, Mr. Mele Kyari, said that the NNPCL was working deeply to ensure value for all its partners to ensure that more resources were created, more capacity created for Nigerians to ensure that it fits well to the ongoing energy transition.
Kyari noted that there is a clear connection between energy security and national security and that nearly every conflict seen in the world has its root on energy security.
He assured that Nigeria would ensure that there is energy security, access to clean cooking fuel and sustainable and sustained supply of energy.
The theme of this year’s Energy Summit is Navigating the new Energy World Order and it will focus on security, transition and finance.
GIK/APA
Nigerian leader calls for reevaluation of Nigerian energy policies to ensure sustainability
