By Princess Simon (Bureau Chief North Central, in Minna)
Nigeria requires nothing less than a total of $410 billion, out of which $10 billion is needed per annum to achieve the country’s transition plan by 2060 towards addressing energy constraints and policy flexibility in her oil sector of the economy.
The Minister of State for Petroleum Resources, Chief Timipre Sylva, disclosed this at the 7th meeting of National Council on Hydrocarbons, with the theme: ‘Roadmap and Strategic Option Towards Achieving Energy Transition in Nigeria’.
Sylva told experts and guests at the Idris Legbo Kutigi International Conference Centre, Minna, Niger State capital, venue for the programme, that the gathering experts and policy makers in the energy sector was designed to discuss and review energy related issues, identify opportunities, problems and to proffers solutions in line with global best practices.
The Minister who was represented by the Permanent Secretary of the Ministry, Gabriel Tanimu Aduda, said Nigeria is committed towards achieving carbon neutrality, end energy poverty by lifting 100 million people out of poverty and also drive economic growth.
Nigeria, according to the Minister, will be one of the 50 nations to have launched its guidelines for the management of fugitive methane and greenhouse gases emissions in the upstream oil and gas sector, latest this year.
Through the Solid Minerals Development Fund, Nigeria is also on the verge of unveiling its cutting edge technology in gold mining to eliminate harmful re-agents, use of cyanide for a human and environmentally friendly practices.
He also revealed that 34 memorandum were received, 7 merged, while 11 were stepped down. He added that the memos were presented to the council for consideration that Niger state has large quantity of solid mineral resources and hydrocarbon deposit in commercial quantity.
Governor Abubakar Sani Bello had earlier reiterated that the state has hydrocarbons along the Bida Basin in commercial quantities sequel to the progressive reports and findings of the consultants from the state owned, Ibrahim Badamasi Babangida (IBBU), Lapai and the Federal University of Technology (FUT), Minna.
The Governor who spoke through the Secretary to the State Government (SSG) Alhaji Ahmed Ibrahim Matane, however regretted constraints therein and appealed to the relevant agencies to expedite actions on the exploration of the Bida trough for optimal benefits.
He assured that the state would provide lands for infrastructural investments, ease of doing businesses as well as adequate security in the LPG industry, providing state tax holidays and other fiscal incentives for private sector participation in the energy development plans. NNL.
