Esimone Charges Africa To Turn Gas Wealth into Industrial Growth
By Prosper Okoye
THECONSCIENCE NG reports that Charles Esimone, vice-chancellor of Transatlantic University of Medicine and Health Sciences on Wednesday called on Africa to turn its vast natural gas resources into an engine of industrialisation, creating jobs, driving economic growth and strengthening energy security.
Speaking at the third annual EMOGAS International Natural Gas-Based Industry Conference and Exhibition in Abuja, Esimone said the continent continued to struggle to translate its gas wealth into sustained industrial development and broad-based economic prosperity.
He said Africa needed to move beyond the question of how much gas it possessed to focus on developing the resources responsibly, attracting investment and expanding its participation in global energy markets.
“The more important questions are how do we develop these resources responsibly? How do we create stronger producer partnerships? How do we attract and sustain investment?” Esimone said.
The conference, themed “Accelerating Africa’s Global LNG Trade Share and Driving Gas Industrialisation Through Innovative and Strategic Upstream Petroleum and Gas Producer Synergies and Investment Decisions”, seeks to explore ways of unlocking the continent’s gas potential through investment and collaboration.
Esimone, who is also pro-chancellor of European University, said governments, industry, academia and entrepreneurs needed to work together to turn natural gas resources into commercially viable products and services.
Governments, he said, must create an enabling policy and regulatory environment, while industry brings the capital, technology and operational expertise needed to develop the sector. Africa’s ability to translate its gas wealth into industrial growth will ultimately depend not just on the resources it possesses, but on how effectively it harnesses innovation.
Africa, he argued, should not remain a consumer of emerging technologies such as artificial intelligence, advanced data analytics, digital twins and automation, but should develop and commercialise solutions suited to its industrial needs.
He called for greater investment in human capital and stronger partnerships between universities, research institutions, governments and industry to give African engineers, scientists and entrepreneurs a more meaningful role in the energy value chain.
The conference is also examining liquefied natural gas trade, investment partnerships, natural gas utilisation and monetisation, energy security and the use of advanced technologies to protect critical gas infrastructure.
Emeka Okafor, founder of Emogas Limited, the conference organiser, said Nigeria needed stronger collaboration among government, industry, investors and indigenous businesses to turn its gas resources into industrial growth, jobs and broader economic opportunities.
“Nigerians have no business being poor,” Okafor said, arguing that the country needed to move beyond resource extraction to develop domestic industries, strengthen indigenous technology and expand local participation across the gas value chain.
He urged the government to create a favourable investment environment and ensure projects were awarded on merit rather than through political connections.
Patronage, he warned, could lead to poorly executed projects, wasted resources and investments that fail to deliver their intended benefits.
Okafor also urged industry leaders to strengthen partnerships and pursue commercially viable projects, while encouraging investors to take a long-term view of opportunities in the gas sector.
He called on technology companies and entrepreneurs to develop solutions suited to African markets and urged researchers to work more closely with industry to turn research findings into practical innovations.
Ozimede Suleiman, general manager of the Midstream Monitoring Division at the Nigerian Content Development and Monitoring Board (NCDMB), said the agency was using its financing programmes to help Nigerian businesses overcome funding constraints and expand their participation in the gas value chain.
Suleiman, who represented NCDMB Executive Secretary Felix Ogbe at the conference, said the board could take equity stakes in emerging Nigerian gas companies and appoint representatives to their boards to monitor investments and ensure returns.
He also highlighted the Nigerian Content Intervention Fund (NCIF), which provides financing support to companies seeking to refinance high-interest loans, ease financial pressures and improve cash flow.
Such support helps address financing constraints that have limited indigenous companies’ access to commercial bank loans, he said.
Under the Nigerian Oil and Gas Industry Content Development Act, companies seeking to operate in Nigeria’s oil and gas industry must submit Nigerian content plans detailing how local businesses will participate in their operations, Suleiman said.
The board reviews the plans before issuing the relevant certificates, he added.
He urged Nigerians to explore opportunities across the gas value chain as the global energy transition evolves, pointing to compressed natural gas and other gas-related businesses as areas where indigenous companies could increase their participation.
Suleiman said the NCDMB would continue to promote implementation of the Act to widen opportunities for Nigerian businesses and strengthen local participation in the oil and gas industry.
