Nigeria must prioritize an affordable, reliable, and accessible energy regime to build a prosperous nation, according to Seplat Energy PLC. The company’s Chief Operating Officer, Samson Ezugworie, made this statement during the 43rd Nigerian Association of Petroleum Explorationists (NAPE) Annual International Conference & Exhibition in Lagos. Ezugworie emphasized that Nigeria’s energy challenges are significant, with over 70 million people lacking access to electricity and 170 million relying on biomass for cooking, which harms the environment and households.
With Nigeria’s population projected to reach 237 million by 2025 and 400 million by 2050, the need for action is urgent. Ezugworie stressed that increasing oil production is crucial to boost national revenues, reduce the current shortfall, and drive GDP growth. He also highlighted the importance of harnessing Nigeria’s vast gas reserves to expand domestic energy access, displace polluting imported generators, and power basic industries.
The global energy landscape is shifting, with a transition in the ownership and operation of Nigeria’s natural resources from international giants to local operators. This shift creates new capital dynamics, requiring the industry to raise international finance while managing risks and protecting the environment. However, it also presents opportunities for Nigeria to build an industry owned and managed by Nigerians, for Nigerians.
Seplat Energy has adopted three core principles: Leadership, Partnership, and Stewardship. The company has made progress in rehabilitating wells, with 26 wells now producing 33,000 barrels. Seplat Energy is also close to delivering first gas from its ANOH Gas Processing Plant and has recently delivered its first cargoes of LPG from the upgraded Sapele Gas Plant. The company aims to end routine flaring in its onshore operations, reducing emissions and capturing gas for monetization.
These initiatives demonstrate Seplat Energy’s commitment to Nigeria’s prosperity and transforming lives through energy. As the country moves forward, it is essential to prioritize affordable, reliable, and accessible energy to drive growth and development. With the right strategies and partnerships in place, Nigeria can overcome its energy challenges and build a brighter future for its citizens.