Nigeria stands to lead globally in Economy, Energy Transition…Nnaji, Stakeholders

• Can Power Gulf of Guinea

BY BONNY AMADI

Nigeria stands the chance of powering the entire Gulf of Guinea with gas energy in the country’s pursuit of energy transition, guiding towards environmental sustainability and generating greater value to the country.

The energy transition initiatives, to guarantee the required value, is however to be private sector driven, as they understand the intricacies of generating either the associated or non-associated gas from the ground deposits either on shore or offshore locations, which requires huge capital.

This was the consensus of key stakeholders at the Oriental News Nigeria 2025 conference, themed, “integrating Nigeria’s gas potentials into strategic energy transition initiatives” which took place at Ikeja Lagos Radisson Blu on Thursday.

Chairman of the conference, Nigeria’s Former Minister of Power Professor Barth Nnaji, Chairman, Geometric power Group in his address said that even as Nigeria missed the opportunity of reaping from its earlier boom in coal, now stands the chance of leading the world as fastest growing economy, through its massive gas deposits as well as reference point in energy transition.

According to him, the country alone could power the Gulf of Guinea, with its 200 trillion cubic feet gas reserve, as well as enhancing its economy as one of the greatest globally.

Nnaji said that the country has had different energy initiatives, such as Hydro- power, solar, CNG, fossil fuel driven, but renewable driven by gas thrive on exploiting the country’s huge gas potentials to grow economy and maintain a sustainable environment.

The country he said has a lot of gas reserve and yet not able to make use of them, “We had a lot of coal, there was such a time when we thought, the country could use coal, export coal, but we were not able to do any of that” Nnaji said, “Now is a new opportunity provided by gas adding that his power company, Geometric power, one of the power generating companies in Nigeria, and other power generating companies’ have the ability to supply power, especially those that are thermal powered, which is gas powered”

He further explained, “We have hydro, but the gas fired plants are the dominant power producing plants. I want to tell you that at least for the next decade or two, gas fired plants will be the dominant method of supplying electricity in Nigeria. You can talk of renewable energy, but this power, which is the power that has been there all the time, will either come from hydro or from gas fired plants in Nigeria”

According to the chairman of the Geometric Group, the government should be forthcoming in supporting Nigeria’s gas-powered energy transition, help in building of the infrastructure and the harvesting of the gas. “So, with the gas, we can now talk about CNG, because CNG is not going to be going anywhere without just enough, it has limits, unless you produce the gas.”

Ogedengbe pointing to the Nigerian gas future, Temitope Ogedengbe, Manager Energy Transition, NLNG (CTE) Nigeria LNG Limited said that presently the NLNG 22 metric Tons per annum (mtpa) capacity is the largest globally, and it is going to expanded by 30 per cent by the end of next year, which represents 25 per cent increase in export value and revenue, in all this, he asserted that “

According to him, Gas as main focus of energy transition, ensure that flaring is ended and more gas are sourced, adding that “less than 45 per cent of our gas are non-associated gas, while the rest are non-associated gas” which entrails more work to extract gas from its associated products, with its cost implications amongst others.

Earlier in her welcome address, Mrs Yemisi Izuora, Publisher Oriental News Nige- ria, said every year, the editorial team arrives at theme considers germane and relevant and relevant to national development and also provides adequate support to the environment with well-chosen resource persons to discuss the subject “This is the fourth in its nig task with the theme ‘Integrating Nigerian gas potential into strategic energy transition initiatives”. She lauded the sponsors of the conference and the big role women play and continue to play in the highly dominated Nigeria’s energy sector.