The Group Managing Director, Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, has tied responsibility of energy security and sustainability in Nigeria on members of Society of Petroleum Engineers (SPE), by coming up with a blueprint that could assist in nation in managing well the sector.
Dr. Baru, after recounting the huge national energy deficit, informed the members that in Nigeria demand for energy was growing at a very rapid rate and that players in sector need to wake up to their respective responsibilities.
Speaking at 2019 annual Society of Petroleum Engineers (SPE) Oloibiri Lecture Series and Energy Forum in Abuja on Thursday, NNPC’s boss lamented that despite abundant Oil and Gas reserves, Nigeria experiences shortages in electric power.
He said that Nigeria’s Energy consumption, basing it current forecast, showed an increase from 6 GW in 2015 to 30 GW by 2025 with the primary source of the current power supply being from hydro and gas.
He also said that the future consumption, expected to drive growth by 2025, would need aggressive development of gas and renewable projects to meet the exponential demand.
However, the GMD listed efforts by the corporation to bridge the energy supply-demand gap to include accelerated development of gas resources and facilities, rehabilitation of existing refineries, investments in renewable energy projects, and focus on exploration of the frontier basins to boost reserves.
The NNPC helmsman noted that Nigeria was facing a new challenge in the form of competition from new oil production centres across the globe, particularly Africa, adding that there was need to “unlock new barrels as quickly as possible to stay relevant in the new emerging world”.
He, therefore, called on the SPE and its member to “proffer an industry road map to guarantee energy security and sustainability for the nation”.
Meanwhile, Oloibiri Lecture Series which is organized by SPE, Nigerian Council, is an annual event focused on contributing to oil and gas policy development for Nigeria.