The Minister of State for Petroleum Resources, Senator Heineken Lokpobiri, has confirmed that Nigeria will persist in using its hydrocarbon resources to provide energy for its population of over 200 million, regardless of worldwide demands for an energy transition.
While addressing a Petroleum Technology Association of Nigeria event, Lokpobiri emphasized the persistent importance of fossil fuels in Nigeria’s energy plan.
“Disregard the discourse about fossil fuels disappearing.
Historically, no energy source has disappeared. Our fight for energy security worldwide remains focused on oil and gas,” the minister stated.
He stressed that although the world is slowly moving towards renewable energy, fossil fuels are still essential for ensuring energy security and prosperity.
“Although the world might be moving towards an energy transition, fossil fuels continue to be essential.”
“Therefore, drawing in investments to optimize our resources and create wealth is essential,” Lokpobiri remarked.
Emphasizing the increase of indigenous involvement in the oil and gas industry, Lokpobiri commended local stakeholders for fostering innovation and efficiency.
“Our initiative to involve indigenous players in the oil industry has been highly effective, attracting interest from other countries eager to adopt our approach.
“This system has been fundamental to our industry’s achievements, demonstrating the power of local knowledge in fostering development and creativity,” he added.
Lokpobiri concluded by reaffirming the Federal Government’s dedication to boosting oil and gas investments and raising production to tackle energy poverty in Nigeria.
