Lokpobiri Explains Why Nigeria Can’t Abandon Fossil Fuel Yet

Lokpobiri Explains Why Nigeria Can’t Abandon Fossil Fuel Yet

Nigeria will continue to produce fossil fuels despite global energy transition, says Minister of State for Petroleum (Oil), Senator Heineken Lokpobiri.

Lokpobiri who made the assertion on Tuesday, while speaking at the 13th Practical Nigerian Content organised by the Nigerian Content Development and Monitoring Board in Yenagoa, Bayelsa State capital, said Nigeria already has enough market for fossil fuels in Africa.

His remarks, which highlighted the theme of the programme, ‘Deepening the Next Frontier for Nigerian Content Implementation’, pointed out that no country in the world will stop the production of fossil fuels when there is still a market for it.

According to him, even a nation that champions energy transition like the United Kingdom awarded over 100 licences to companies to continue crude oil exploration.

He said, “All the nations that say we should stop the production of fossil fuel, we will never stop the production in Nigeria; no country in the world will stop it.

“Just in 2023, the United Kingdom contributed 4.8 per cent of global emissions, higher than the entire OPEC countries put together. The entire African continent together contributes about three per cent, but the UK contributes 4.8 per cent, and they gave over 100 licences to new companies for new exploration.

“America is the highest producer of fossil fuels, so why should we stop? Those who are telling us to stop are themselves not stopping, so we should know that it is about politics.

He said, “All the nations that say we should stop the production of fossil fuel, we will never stop the production in Nigeria; no country in the world will stop it.

“Let me also use this opportunity to challenge the industry that with the emergence of Trump, the price of oil may be battered. What I want us to do is to increase our production. Africa already has enough market, we can produce enough fuel to supply the West African region and the entire Africa, but our biggest challenge has to do with funding.”

The Acting Governor of Bayelsa State, Senator Lawrence Ewhrudjakpo, challenged NCDMB to engage grassroots stakeholders by incorporating diverse perspectives to ensure that their strategies are inclusive and reflective of the aspirations of all Nigerians.

Ewhrudjakpo urged participants at the forum to move beyond dialogue to implementation with a view to ensuring that the outcomes of the conference drove real and meaningful change in the oil and gas industry.

He described the theme of the Practical Nigerian Content as forward-looking and called on the participants to engage actively with a focus on transforming ideas into actionable strategies that would yield lasting impacts.

He said, “Leveraging technology and empowering local talent will create a vibrant ecosystem that promotes creativity, entrepreneurship and sustainable development.”