ND Western Hinges decarbonisation on sustainable energy solutions
Independent Nigerian oil and gas company, ND Western Limited has expressed its commitment to sustainable energy solutions, in its bid to contribute towards Nigeria’s decarbonisation goals.
Eberechukwu Oji, Chief Executive Officer of the exploration and production company made the remarks at the 21st annual edition of the Nigerian Oil and Gas Conference & Exhibition which held in Abuja recently.
Themed “Funding the Nigerian Energy Mix for Sustainable Economic Growth”, the event featured thought leaders who shared industry insights on facilitating growth in the energy industry for Nigeria’s sustainable economic growth.
During a panel discussion on “Roadmap for Nigeria’s Energy Mix and Decarbonisation Policy”, Oji highlighted critical strategies necessary to develop a roadmap for Nigeria’s energy mix and decarbonization process.
The discourse also focused on how technology and innovation can help meet the decarbonisation goal and what policies need to be developed to attract investment for the required energy mix in the country.
“Nigeria needs a policy that will tackle the fundamental problem of getting energy to the people cheaply, and for the longest period. The general objective of energy policies is to create a favorable and predictable legislative and regulatory framework, as well as provide adequate incentives to support the development of the sector, including the access to clean energy, ” he stated.
He further noted that the issue formed part of a global strategy, aimed at tackling concerns faced by stakeholders and overcoming barriers related to different areas of the energy industry, including decarbonisation and sustainable energy.
“Comprehensible roadmaps and sound policies are necessary to reduce risk perception, provide valuable insights and clarity to key stakeholders as well as tailored incentives which correct market failures.
“This is important as capital providers and project developers preferentially allocate their resources towards countries that present a stable and auspicious business environment, for such policies to thrive”, he added.
“Key stakeholders at the conference also shared dialogue on how to harness the opportunities in the Nigerian oil and gas sector, and transition energy to attract and foster significant investments in the oil and gas industry.
“With over 85% of the exhibitors at the NOG, being Nigerian-owned businesses, this further reinforces the remarkable achievements that have been made in boosting indigenous participation in the domestic oil and gas industry, ” he said.
The conference’s agenda focused on the strategies that could be employed by the Nigerian government and private sector leaders to navigate the emerging business environment and setting the nation’s energy agenda for the coming years and beyond.
ND Western said it continued to set industry standards in Nigeria with its product and service offerings, while exploring ways to better equip the nation with opportunities to sustain energy growth.
