Nigeria ready to help in global energy solutions–Petrol minister

Nigeria is ready to contribute significantly to solving global energy challenges while simultaneously fostering its own prosperity, stated Dr. Ekperikpe Ekpo, the Minister of State for Petroleum Resources (Gas).

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The defining question before us is not whether the world will need more energy, it will. The question is who will provide that energy responsibly, reliably and competitively. Nigeria is prepared to answer that call.

Speaking at the Nigeria Oil and Gas (NOG) Energy Week, Ekpo highlighted Nigeria's strategic position, noting its transformation into a gas-powered nation. The country boasts Africa's largest natural gas reserves, ranking among the top ten globally. This abundant resource is being actively utilized to fuel domestic industries, fertilizer and petrochemical plants, revolutionize commercial transportation, and provide clean cooking solutions for millions.

Ekpo emphasized that Nigeria is prepared to meet the world's growing energy demand responsibly and competitively. He asserted that the nation possesses the necessary resources, is implementing reforms, building infrastructure, strengthening institutions, and fostering an environment conducive to investment and shared prosperity. "Nigeria is ready, Nigeria is open for business, Nigeria is investing in the future," he declared, underscoring the potential of natural gas to create local jobs, boost industrial output, reduce import dependency, and improve living standards.

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Nigeria is ready, Nigeria is open for business, Nigeria is investing in the future and together, let us build that future, powered by partnership, driven by innovation and sustained by the limitless potential of natural gas.

The enactment of the Petroleum Industry Act (PIA) 2021 is cited as a pivotal moment, overhauling the energy sector's governance and fiscal framework. The PIA has introduced transparent, commercially driven, and investor-friendly regulations, enhancing regulatory certainty and establishing a stable, competitive investment climate. Ekpo urged the global investment community to capitalize on these developments, noting that Nigeria aims not just to participate but to lead in the global energy market, particularly in Liquefied Natural Gas (LNG) as demand grows in Europe and Asia.

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Every cubic foot of gas utilised domestically translates directly to new local jobs, reinforced industrial output, reduced import dependency, and a higher standard of living.