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Perspectives

Seplat Energy Summit: Nigeria advocates for a fair energy transition

The Seplat Energy Summit that took place in
Abuja was an opportunity for the Minister of Sta-
te for Petroleum Resources, Chief Timipre Sylva,
to share Nigeria's position on the energy transi-
tion. In line with the recent World Oil Outlook
published by OPEC, Chief Timipre Sylva began by
reminding the audience that oil demand will be
strong up to 2045. He therefore insisted on the
necessity to converge all efforts to urgently exp-
loit oil and gas resources in an optimal way while
obtaining new sources of investment. Through its
minister, Nigeria has thus marked with strength
and determination its absolute rejection of redu-
cing the energy transition to a single method.
Chief Timipre Sylva's statement was historic and
received with great interest and enthusiasm by
representatives of developed countries who are
frequently called upon to turn to energy sources
considered cleaner than oil.

About twenty countries around the world have made the choice to move away from fossil fuels. The
decade 2030 - 2040 is expected to be synonymous with the exit of so-called polluting energies, including
oil and gas. An alliance named "Beyond Oil and Gas Alliance" composed of several countries (Costa
Rica, France, Greenland, Ireland, Wales, Denmark, Quebec, Sweden...) is working very seriously on this
transition. At the same time, hydrocarbon discoveries are being made throughout the African
continent. “The industrialization and development of our continent are therefore at stake. We are the
ones who pollute the least and yet we are the most affected by climate change. If we want to break out of
this circle, we Africans, must align ourselves with a single strategy and defend a common position on
the future exploitation of our energy resources.” In this regard, the concept of " fair energy transition "
promoted by Chief Timipre Sylva is particularly relevant. Indeed, the Nigerian Minister considers that
reaching net zero by 2050 will only be possible if we take into account the reality of each country while
respecting environmental, political, economic and social issues. It is high time for African countries to
redefine the road ahead, which must be established taking into account the realities of the continent.
For example, if a country like Nigeria were to follow the trend set by industrialized countries, it would at
the very least be exposed to an unprecedented tariff and fiscal crisis. Furthermore, as Chief Timipre
Sylva reminded the audience, gas is a valuable and viable process fuel for industrial development, as
Nigeria's gas reserves are sufficient to meet current demand and allow the country to build nine gas-
fired power plants. As a result, gas will remain central to Nigeria's energy transition and is expected to
lead to other cleaner forms of energy by 2050.
It will therefore be particularly instructive to follow the evolution of this "just-in-time" energy transition
in Nigeria to adapt to growing continental demand.

Perspectives 57