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SPE tasks govt on adaptive strategies against net zero impact

By Femi Adekoya
29 July 2022   |   4:04 am
As Nigeria struggles with the challenges of energy crisis, alongside oil theft and global transition agenda, the Society of Petroleum Engineers (SPE), Nigeria Council, has urged the government to deploy adaptive strategies that protect Nigerians from the socio-economic impact.

Conference Chairman, Micheal Oyere (left); Lagos Section Programmes Chair and Chairperson, Nigeria Annual International Conference & Exhibition (NAICE) 2022 Awards Committee, Priscilla Enwere; SPE Nigeria Council Chairman, Prof. Olafuyi A. Olalekan and Director and NAICE 2022 Venue and Entertainment Committee Chairman, Lagos Section, Temitope Oshuntuyi, at the press briefing on 2022 Society of Petroleum Engineers (SPE) NAICE to be held in Lagos.

As Nigeria struggles with the challenges of energy crisis, alongside oil theft and global transition agenda, the Society of Petroleum Engineers (SPE), Nigeria Council, has urged the government to deploy adaptive strategies that protect Nigerians from the socio-economic impact.

Chairman, SPE, Nigeria Council, Olalekan Olafuyi, stated this at a press conference preparatory to the 2022 Nigeria Annual International Conference and Exhibition (NAICE) in Lagos.

The NAICE is a yearly event of the SPE and this year’s edition is scheduled to hold from August 1, to August 3, in Lagos.

Olafuyi said the theme of the conference: “Global Transition to Renewable and Sustainable Energy and the Future of Oil and Gas in Africa”, is very apt and in line with current realities.

Despite its huge oil and gas deposits, Nigeria continues to grapple with high energy deficit, leading to acute poverty and wide scale unemployment.

He said: ‘The world is facing the challenges of balancing the urgency of transition to cleaner energy with the obvious energy deficit and economic challenges experienced in recent times.

“It is expected that adaptive strategies for energy transition should be adopted in Africa. This is the core of the conference.”

According to him, there is a need to maximise Nigeria’s abundant natural gas resources to address the nation’s energy deficit.

To this end, he said, there was a need to enforce the penalty on gas flaring by oil companies to deter the practice, which was affecting the country negatively.

Olafuyi said President Muhammadu Buhari had assured the global community of Nigeria’s commitment to achieving a net zero carbon emission by 2060 and was working towards that.

He also called for investments in gas infrastructure across the country and establishing policies that would support gas development and utilisation.

On the spate of oil theft in the country, Olafuyi said SPE was ready to assist the government in proffering solutions that could curb the menace.

He added that the activities of vandals and oil thieves were shortchanging Nigeria’s revenue and had become a huge challenge to the industry.

Olafuyi said the 2022 NAICE would feature contributions from minister of state for Petroleum Resources, Timipre Sylva,and Mele Kyari, group chief executive officer, Nigerian National Petroleum Company Ltd.

He gave other speakers as chief executive, Nigerian Midstream and Downstream Petroleum Regulatory Authority, Farouk Ahmed, and chief executive, Nigerian Upstream Petroleum Regulatory Commission, Gbenga Komolafe.

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