Coordinated Investment Strategy Needed To Unlock Africa’s Gas Potential – NNPCL

The group asset manager at the Nigerian Upstream Investment Management Services of the Nigerian National Petroleum Company (NNPC) Limited, Dr Justice Derefaka, has advocated coordinated investments in infrastructural development that would link gas from production sites to demand hubs.

He said this had become critical and urgent to plug yawning supply gaps in the country and the continent of Africa where 600 trillion cubic feet of gas reserves exist but 600 million people lack access to energy.

This, he said, called for strong actions and collaboration by governments and players in the African petroleum industry to work together and rapidly translate the continents abundant resources to energy security.

Derefaka declared in Lagos that African petroleum industry players had the responsibility to spur rapid social and economic development by providing both electric and fuel energy  for business and homes on the continent.

Derefaka who has functioned in several and different policy formulation and programme implementation roles at the Ministry of Petroleum Resources and the Presidency is currently the Group Asset Manager at the Nigerian Upstream Investment Management Services of the Nigerian National Petroleum Company (NNPC) Limited.

In making case for mass adoption of gas in the prevailing energy transition window,he pointed to the robust social, economic, environmental and health imperatives that position gas at the fuel of choice for the continent.

He noted that gas remains the most reliable, available and affordable industrial fuel for manufacturing and agriculture.

He noted that the model of the Nigerian cooking gas penetration programme would displace firewood and free the women to contribute more meaningfully in social and economic development of African countries.

“The vision for tomorrow begins now!” said at Asharami Square conference hosted by Sahara group.