Energy expert and spokesman of the Nigerian Gas Association (NGA), Mr. Odianosen Masade, has said that African countries must leverage on their enormous gas reserves to record faster and more successful energy transition.
Masada, who called on the African continent to adopt a diversified approach to the energy transition journey also pointed out that Africa currently accounts for the least share of global greenhouse gas emissions, at just 3.8 per cent in contrast to 23 per cent in China, 19 per cent in the US, and 13 per cent in the European Union.
He made the call in an interview on Monday in Yenagoa, Bayelsa State capital, saying that Africa is the least industrialized amongst all the continents of the world, and one of the most vulnerable continents to climate change.
The energy expert lamented that it was regrettable that while the developed economies responsible for the challenges posed by climate change took over a century to reposition for fossil transition, Africa is expected to transition over a few decades.
He however applauded the Nigerian National Petroleum Company (NNPC) Limited for its transformation into a commercially and profit-oriented business entity in line with several calls by experts to increase its efficiency and separate its regulatory, revenue-generating and oil production components.
Masada said that “The idea is for the entity to become profitable. With privatization, the NNPC will be relieved of all the burdens of government control and become autonomous.
“The NNPC can now be listed on the Stock Exchange, secure investments and generate more revenue for the country.”
According to Masade, the challenges militating against Nigeria from maximizing the opportunities presented by the Russian-Ukraine war which has reduced the global supply of gas include lack of political will and lack of investments in critical infrastructure.
He pointed out that the Trans-Saharan gas pipeline which is intended to run from Nigeria through Niger, Algeria, across the Sahara Desert to Europe is one of such infrastructures that would have generated significant income for Nigeria.
According to him, once completed, the Trans-Saharan gas pipeline has the capacity to transport up to 30 billion cubic meters (1 trillion cubic feet) of natural gas per annum from Warri in Nigeria’s Delta State through Niger and Algeria to Europe.