To force Nigeria to abandon fossil fuels several international oil companies active in the country have announced that they will dispose of their portfolio of assets in the country. Faced with this decision, the Nigerian Minister of Petroleum simply proposed to invest more in fossil fuels.
Timipre Sylva who is speaking this Friday, April 1, 2022, on the announced withdrawal of foreign oil companies from the country, in recent weeks believes that the situation will slow down the policy of transition to low carbon emission energies and therefore suggests that the government invest in fossil fuels to curb Nigeria’s energy poverty.
Speaking on the sidelines of an energy conference organized by the Society of Petroleum Engineers (SPE), a professional non-profit organization, Mr Sylva suggests that “Nigeria’s goal should be to end energy poverty . Countries like Nigeria, which are rich in hydrocarbons, but still poor in energy, must not follow energy transition plans, at the expense of affordable and reliable energy for people, cities and industries”.
The opinion of Sylva, who intervenes in a local context where more than 100 million people do not have access to electricity. This, despite the country’s initiatives to improve the supply of electricity and diversify its energy mix.
Recall that in September 2021, Timipre Sylva called for the establishment of an African Energy Bank. The institution would aim to support investments in oil and natural gas in Africa, while enabling Nigeria, in particular, to stimulate the growth of its economy, which is highly dependent on fossil fuels.
Moctar FICOU / VivAfrik