Ex-Minister Seeks Regulatory Certainty, Clean Energy Financing To Unlock Nigeria’s Energy Investments

Former Minister of Information and Culture and Chairman of Portland Gas Limited, Alhaji Lai Mohammed, has called for regulatory certainty, transparent policy frameworks and competitive fiscal incentives to attract the investments needed to transform Nigeria’s energy sector.

Speaking at the Oriental News Nigeria 2026 Conference in Lagos, Mohammed said predictable regulations and investor-friendly policies are essential to unlocking billions of dollars in capital, expanding gas utilisation and strengthening Nigeria’s position in the global energy market.

Delivering the keynote address on the theme: “Carbon Capture: Accelerating Decarbonisation Initiatives in Nigeria’s Extractive Industry Through Broad Regulatory Reforms,” he said decarbonisation has shifted from a long-term aspiration to an immediate priority.

According to him, carbon capture, cleaner fuels and broad regulatory reforms are central to achieving Nigeria’s sustainable energy transition goals.

Mohammed noted that infrastructure development alone would not enable the country to meet its climate targets and global net-zero commitments, stressing that transformation finance, sound investment strategies, operational sustainability and effective climate governance are equally critical.

He identified financing as one of the biggest barriers to expanding clean energy infrastructure across Africa.

“We, therefore, need innovative financing models, blended finance, green bonds, carbon markets and long-term investment frameworks that reduce project risks and encourage greater private sector participation,” he said.

Group Managing Director of Sahara Group, Engr. Kola Adeshina, described the conference theme as timely, urging stakeholders to view carbon capture as a practical solution rather than a distant concept.

According to him, Nigeria possesses promising geological potential for carbon capture, but success will depend on investor confidence built on clear regulations, reliable data, sound economics and responsible operational standards.

“In simple terms, we must move from policies to projects, from communication to capital, and from ambition to measurable action,” Adeshina said.

He added that carbon capture would not scale through technology alone but requires regulations that clearly define carbon ownership, storage rights, permitting processes, monitoring standards, liability frameworks and incentives for investors.

Publisher of Oriental News Nigeria Online, Mrs. Yemisi Izuora, said while the extractive industry remains vital to Nigeria’s economy, its environmental impact makes sustainable resource management imperative.

“A well-protected environment gives us better health and greater opportunities to explore our natural resources,” she said.

Associate Professor of Management Communication at Lagos Business School, Prof. Silk Ogbu, warned that Nigeria is at a critical point in its decarbonisation journey and must take the lead in shaping emerging climate reforms.

He noted that the National Assembly and industry regulators are already developing legislative and policy frameworks to support the country’s commitment to achieving net-zero emissions by 2060.

“The reforms are coming, but the real question is whether we will shape them or be shaped by them,” Ogbu said.

He also stressed that financing remains a major challenge, arguing that climate ambition must be matched by significant investment.

“Green ambition without green money is only a lovely idea. Those delivering results are deliberate and strategic about their investments,” he added.

Managing Director of the Rural Electrification Agency (REA), Mallam Abba Aliyu, represented by Executive Director, Corporate Services, Gboyega Ayoade, said Nigeria’s decarbonisation agenda should extend beyond emissions reduction to include competitiveness, industrial development, energy security and inclusive economic growth.

He said achieving these goals requires an integrated regulatory framework linking the energy, finance, environmental and industrial sectors.

“Decarbonisation cannot be achieved through isolated rules. It requires an integrated regulatory architecture that connects energy, finance, environment, industry and investment,” he said.

Aliyu added that regulations governing emissions management, carbon capture, gas flaring reduction, clean energy adoption, environmental reporting and sustainable finance must be clear, coordinated and supportive of innovation.

He urged government, regulators, investors, financial institutions, development partners and the media to work together to accelerate Nigeria’s transition to a cleaner and more competitive energy economy.