Nigeria has defended the role of oil and gas in its energy transition as stakeholders at the Africa Climate Forum 2026 called for increased private-sector investment, affordable financing and stronger government accountability to deliver Africa’s climate commitments.

The two-day forum opened on Tuesday at the Shehu Musa Yar’Adua Centre in Abuja. Organised by the Global Centre for Law, Business and Economy, its fourth edition is themed “Implementing in Lockstep: Public-Private Action for Green Outcomes.”

Representing the Permanent Secretary of the Federal Ministry of Petroleum Resources, Emmanuel Okon, Deputy Director of the ministry’s Midstream and Downstream Department, said Nigeria was pursuing a pragmatic energy transition that balances environmental sustainability with energy security, industrialisation, poverty reduction and affordable energy access.

“Nigeria is not approaching the energy transition by abandoning its petroleum resources. Rather, we are pursuing a responsible and pragmatic pathway in which our natural resources are developed sustainably while we progressively reduce their environmental footprint and use their revenues and capabilities to accelerate the transition to a cleaner and more diversified energy system,” he said.

Okon said petroleum remained vital to Nigeria’s economic development but stressed that its value should increasingly reflect responsible production and tangible benefits for citizens.

As of January 1, 2026, Nigeria had approximately 37.01 billion barrels of proven and probable crude oil and condensate reserves and 215.19 trillion cubic feet of proven and probable natural gas reserves, he said.

The Federal Government, he added, was strengthening regulation and investment under the Petroleum Industry Act, with priorities including increased production, improved asset integrity, transparency and sustainable operations.

Nigeria’s crude oil and condensate production reached approximately 1.68 million barrels per day in August 2026, which Okon described as evidence of improved operational performance.

He emphasised that sustainable petroleum development must go beyond production growth to include emissions reduction, better gas utilisation, technological innovation and domestic value addition.

The government is also intensifying efforts to curb methane and other greenhouse gas emissions. According to Okon, the upstream petroleum regulator is directing operators towards measurement-based emissions reporting and credible measurement, reporting and verification systems.

Natural gas remains central to the country’s strategy, supporting electricity generation, industrial production, liquefied petroleum gas, compressed natural gas, liquefied natural gas and petrochemicals. Okon said improved utilisation could reduce waste, promote industrialisation and support a gradual shift towards a lower-carbon energy system.

He also highlighted the Nigerian Gas Flare Commercialisation Programme, which seeks to attract viable projects to convert flared gas into productive economic assets, generating value while improving environmental conditions in oil-producing communities.

Domestic refining is another priority. Okon disclosed that approximately 53.7 million barrels of crude oil were supplied to local refiners in the second quarter of 2026, representing 97.4 per cent performance against the applicable supply framework.

He said increased domestic supply would help Nigeria move from exporting crude oil and importing refined products towards greater local refining, manufacturing and value addition.

To attract further investment, Nigeria has also launched its 2026 oil and gas licensing round, offering 40 blocks. Okon said new investments must deliver environmental responsibility, technological innovation, operational efficiency and measurable benefits for Nigerians.

He called for stronger collaboration among government, businesses, investors, financial institutions, research institutions, host communities and development partners.

“Government must provide clear policy, predictable regulation and appropriate incentives. Industry must deploy capital, technology and best practices. Financial institutions must develop instruments capable of financing transition,” he said.

Okon further argued that Africa’s energy transition must reflect the continent’s development needs, allowing countries to use their natural resources responsibly while expanding access to reliable and affordable energy.

“Africa must also be allowed the development space to utilise its resources responsibly. Our transition must be just, orderly and fit for our circumstances. A sustainable energy future for Africa cannot be one in which millions of people remain without reliable and affordable energy,” he said.

He said the petroleum industry could contribute to climate action through methane reduction, reduced gas flaring, carbon management, improved efficiency and gradual diversification, despite the environmental concerns associated with hydrocarbons.

“Our destination is a more prosperous, secure and lower-carbon Nigeria,” he said, urging government, industry, financial institutions, technology providers and development partners to translate that ambition into investment and measurable results.

The forum called for stronger public-private partnerships to turn climate commitments into practical initiatives that protect livelihoods, expand energy access and strengthen Africa’s resilience to climate change.

Source: THISDAYLIVE