The Oil & Gas Year hosted its strategic roundtable discussion to engender solutions to Nigeria’s power deficit on July 22. The theme was Low Oil: Fuelling Change, as in these challenging economic times, Nigeria needs power solutions now more than ever before to stay in the position of Africa’s top economy.
Country director for The Oil & Gas Year Nigeria 2016 Brindusa Negrea opened the event discussing the significance of the gathering, “Power is the heart and lifeblood of any economy. With the low oil price, we are here to discuss how we here in Nigeria can fuel change and bring uninterrupted power to Nigerians.”
The importance of the economic implications was emphasised by Dr. Lazarus Angbazo of GE Nigeria, “Our power problem in Nigeria is growing exponentially. We are hurting the Nigerian economy and will fall behind in our attempts to become a top 20 economy.”
Many solutions were proffered by the panellists on the issue. David Ige of GasInvest reckoned it is imperative to “focus on the projects we already have in the works, reach the pockets of stranded gas in country, and create liquidity in the market to bring in investment.”
Oando chief strategy officer Ayo Ajose-Adeogun mentioned the need for a top-down approach. “The CBN, financial institutions, the Ministry of Power and the Ministry of Petroleum Resources need to put together targeted fiscal and regulatory incentives for potential investors.”
The roundtable will be printed in The Oil & Gas Year Nigeria 2016 edition as well as posted on The Oil and Gas Year’s YouTube channel and will feature the comments and views shared by the participants throughout the event.
The event was held in partnership with the federal government of Nigeria, the Department of Petroleum Resources, the Nigerian Content Development & Monitoring Board and indigenous upstream operator Oando, and was sponsored by Amni International and Weatherford Nigeria.
With around 18,000 total attendees including 7,000 delegates, 70 Ministers and a sizeable media contingent, the World Energy Congress is… Read More
STATIC Arabia, taking place under the patronage of HRH Prince Saud bin Nayef bin Abdulaziz, Governor of the Eastern Province… Read More
The World Hydrogen 2024 Summit & Exhibition, a pivotal event in the global hydrogen industry, is set to return to… Read More
The Nigeria International Energy Summit (NIES) 2024, scheduled to take place at the International Conference Centre (ICC) in Abuja, Nigeria,… Read More
The 4th Suriname Energy, Oil & Gas Summit & Exhibition, 4-7 June 2024, Paramaribo, Suriname will be hosted by Staatsolie… Read More
Building on the success of the 2023 edition, inaugurated by the Hon’ble Prime Minister of India Shri Narendra Modi, India… Read More
This website uses cookies.