SEPLAT Vitality Plc has mentioned gasoline growth is a transparent answer to Nigeria’s speedy power problem and stays a longer-term transition gas.
The Director of New Vitality at Seplat, Mr Effiong Okon, mentioned this whereas delivering a speech in the course of the Fuel Stakeholders Dialog panel session on the just-concluded 2024 Nigeria Worldwide Vitality Summit held in Abuja.
“Rising the availability of dependable, inexpensive, and sustainable power is Nigeria’s biggest problem; however gasoline is the logical transition gas, we have to realise this,” Okon mentioned.
He linked gasoline growth to energy, liquefied pure gasoline export, compressed pure gasoline manufacturing, fertiliser manufacturing, liquefied petroleum gasoline manufacturing, constructing supplies manufacturing, amongst others.
He added: “At present, we have now acute housing and infrastructure scarcity, however no commercially viable substitute for the manufacturing of constructing supplies like cement, glass, metal; about 90,000 deaths are recorded per yr on account of biomass cooking; and rising inhabitants presents an pressing want to enhance agricultural manufacturing. We are able to fund all the above with gasoline.
“We are able to additionally cut back reliance on petrol, improve and decarbonise home transport gas if we leverage on gasoline. In fact, these would in flip strengthen our concentrate on sustainability.”
Okon harassed that the Nigerian power business should concentrate on end-to-end options to unlock the total worth of Nigeria’s gasoline, noting that exploration, manufacturing, gasoline processing, and supply of gasoline to the final mile remained germane to maximising the dividends of the useful resource.
For a sustainable gasoline growth programme in Nigeria, the Seplat new power director emphasised the necessity for bankability and entry to low-cost capital; the usage of expertise, the Web of Issues, and good metering to cut back combination technical industrial and assortment losses.
He advised technology-enabled income supply alternatives to assist fund assortment.
On the NIES 2024, Seplat Vitality gained the award of the Fuel Infrastructure Mission of the 12 months, acquired by Okon on behalf of the corporate.
