Nigeria’s vast hydrocarbon wealth is expected to sustain the country’s energy needs for decades, according to Gbenga Komolafe, the Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). Speaking at the Decarbonization and Energy Sustainability Forum in Abuja, Komolafe confirmed that Nigeria’s 37.5 billion barrels of crude oil and 209.26 trillion cubic feet of natural gas have projected lifespans of 70 and 90 years, respectively.
Addressing the global energy transition, Komolafe emphasized the need for Nigeria to balance energy security, economic growth, and environmental sustainability. While the world moves towards decarbonization, he highlighted Nigeria’s commitment to a “just transition” that accounts for regional economic realities.
He also pointed to key government initiatives such as the National Gas Expansion Programme and the Decade of Gas Initiative, aimed at unlocking investment opportunities and driving Nigeria’s gas development. Additionally, Nigeria’s participation in COP28 and COP29 underscores its strategic push towards a cleaner energy future.
As Nigeria navigates the evolving global energy landscape, leveraging its natural resources while embracing sustainability will be crucial in maintaining its economic resilience.
Source: Punch NG
