Lokpobiri, Ekpo To Speak On Nigeria’s Energy Growth Plans At NOG Energy Week

The Minister of State for Petroleum Resources (Oil), Mr Heineken Lokpobiri, and the Minister of State for Petroleum Resources (Gas), Mr Ekperikpe Ekpo, will be addressing the 23rd NOG Energy Week 2024, scheduled for June 30 and July 4, 2024, at the International Conference Centre (ICC) in Abuja.

The NOG Energy Week, themed ‘Showcasing Opportunities, Driving Investment. Meeting Energy Demand’, will explore emerging business contingencies, sharing a common goal with the President’s directive to build systems that will eliminate investment barriers in Nigeria’s energy sector.

Following the Executive Order by President Bola Tinubu, it is thought this will shed light on the government’s strategies for strengthening Nigeria’s energy sector, particularly regarding fiscal incentives for non-associated gas, midstream, and deepwater developments, which offers promising opportunities for the development of gas resources in Nigeria.

Historically, industry stakeholders at NOG Energy Week have stressed the need for clearer policy direction for non-associated gas exploration and production.

As a major contributor to Africa’s oil and gas potential, Nigeria has substantial natural gas reserves, ranking as the ninth largest in the world. Significantly, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) announced that Nigeria’s gas reserves currently stand at 208 trillion cubic feet, with the potential to increase production to more than 5 billion cubic feet per day. The Executive Order addresses the much-needed policy direction that will enable stakeholders to make informed decisions for funding, advanced gas activities, and infrastructure development.

Speaking at a retreat organised to create the roadmap for achieving the targets set by President Tinubu, the minister of state for Petroleum Resources (Gas), Mr Ekperikpe Ekpo, stated that, “ensuring the widespread penetration of gas nationwide is essential to realising its full potential as a transition fuel. This entails not only increasing domestic gas production but also promoting the adoption of gas as a cleaner alternative for power generation, industrial processes, transportation, and household use. Initiatives such as the ‘Decade of Gas Initiative’ are instrumental in driving gas utilisation across various sectors through targeted interventions, infrastructure development, and policy incentives.”

The NOG Energy Week 2024 will feature various presentations, panel discussions, and networking sessions on funding projects, the significance of natural gas, increasing oil and gas production, as well as strategies to overcome challenges in the industry overall for economic growth. Wemimo Oyelana, the Portfolio Director, DMG Events (organisers of the annual event) listed the expected government officials and industry leaders at NOG Energy Week 2024 to include; Chief Executive, Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Engr. Farouk Ahmed; Chief Executive, Nigerian Midstream & Downstream Petroleum Regulatory Authority (NMDPRA), Engr. Farouk Ahmed; Group Chief Executive Officer, NNPC Limited, Mele Kolo Kyari; Managing Director, Shell Nigeria’s Exploration and Production Company Limited, Elohor Aiboni, and Managing Director & Chief Executive Officer, Nigeria LNG, Dr. Philip Mshelbila.

Others are Managing Director and Chief Executive Officer, ND Western, Eberechukwu Oji; Chairman, Nestoil Limited, Dr. Ernest Azudialu-Obiejesi; Group Chief Executive, Oando PLC, Adewale Tinubu; Group Managing Director, UTM FLNG Limited, Julius Rone and Group Chief Executive Officer, PANA Holdings, Daere Akobo, among others.