NNPC to trigger Nigeria’s industrialisation, economic development with gas — Eyesan

During a panel session at the 2024 CERAWeek Conference in Houston, Texas, the Executive Vice President of NNPC Ltd., Mrs Oritsemeyiwa Eyesan, reiterated the company’s dedication to leveraging Nigeria’s substantial gas resources to propel industrialization and economic advancement.

“NNPC Ltd. has reiterated its commitment to utilising Nigeria’s abundant gas resources to trigger Nigeria’s industrialization and economic development,” Eyesan stated.

Highlighting Nigeria’s status as a gas-rich nation with over 200 TCF of gas reserves, Eyesan emphasised NNPC Ltd.’s plans to deepen domestic gas utilisation, ensuring widespread benefits across the country.

She outlined the company’s focus on infrastructural gas development through diverse projects nationwide.

“Our focus is how do we move from a predominantly oil player to a gas player, not just for gas for the sake of gas but for power generation and industrialization,” she stated.

Addressing environmental concerns, Eyesan stressed NNPC Ltd.’s commitment to reducing emissions and eliminating gas flaring, with the aim of harnessing flared gas for domestic consumption and expanding the energy transition footprint.

“We want to capture all gas flared, utilise it and for domestic use, and ultimately increase our energy transition footprint,” Eyesan said.

Furthermore, Eyesan advocated for collaboration among African nations to ensure equitable distribution of energy resources across the region.

She emphasised the importance of collective efforts to address energy poverty and promote sustainable development.

“For us to ensure that we continue to subsist within the sub-region, we must be willing to work collaboratively and ensure that there is an even distribution of the energy resources we have across the sub-region,” she noted.

Regarding energy transition, Eyesan highlighted the evolving discourse, particularly in Sub-Saharan Africa, where the focus remains on tackling energy poverty.

NNPC Ltd. aims to capitalise on its competitive advantages to define strategic approaches in this regard.

“On energy transition, Eyesan stated that the subject has evolved over the years,” the report continued.

The panel also featured insights from other industry experts, including Bob Fryklund, Chief Upstream Strategist at S&P Global Commodity Insights; Kendall Dilling, President of Pathways Alliance; and Philippe Mathieu, Executive Vice President of Exploration and Production International at Equinor.

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