Chairman of Independent Petroleum Producers Group (IPPG), Mr. Abdulrazaq has said that the journey towards de-carbonization of the energy mix is well underway and Nigeria cannot afford to be left behind.
He said the focus as an industry in the short to medium term must be to rapidly exploit our hydrocarbon assets for the socio-economic transformation of Nigeria and deploying same to guarantee the country’s energy security.
Razaq who spoke at the 11th Practical Nigerian Content Forum (PNC) organised by the Nigerian Content Development and Management Board [NCDMB] in Uyo, said the existence of the 27-member indigenous oil and gas exploration and production group is a product of the Nigerian Content policy.
It is reassuring that proactive and concerted efforts are being undertaken by government, in particular, towards pushing gas as a major pathway for Nigeria’s Net Zero 2060 commitment.
The IPPG chairman said that government’s effort in deepening local content in the Nigerian oil and gas industry is paying dividends and it is imperative that the effort is sustained and greater focus placed on bridging the capacity gap and addressing funding challenges.
“Nigerian-owned companies are beginning to play more active roles across the industry. Indigenous companies are now penetrating areas that were once solely dominated by foreign players’, Isa said.
He reaffirmed IPPG’s commitment to full compliance with the provisions of the Nigerian Oil and Gas Industry Content Development (NOGIC) Act, adding that the group will continue to partner with the NCDMB, in the task to strengthen in-country capacity and increase Nigerian Content.
The IPPG states that the theme of the conference – “Deepening Nigerian Content Opportunities in the Decade of Gas” underscores the importance of re-positioning Nigeria’s oil and gas industry in the face of the ongoing global energy transition as well as divestment of assets by the international oil companies (IOCs) in Nigeria.
Abdulrazaq said his group, the IPPG, also fully supports the declaration of 2021-2030 as the ‘Decade of Gas’ and will work with all stakeholders to harness Nigeria’s gas resources as the policy has provided the country an opportunity to “galvanize the industry to fully utilize and commercialize the nation’s abundant gas resources to rapidly catalyze other sectors of the economy.