Arising from its Biannual International Conference in Abuja at the weekend, the Petroleum Training Institute (PTI) urged stakeholders to proffer solution to the country’s energy crisis.
This was contained in the communique the Director of Research and Development, Dr. Tina Isichie issued after the conference.
The conference urged the nation to address its energy crisis with a sustainable solution.
The stakeholders noted that Nigeria is endowed with 207 trillion cubic feet reserves of gas aside from oil reserves that is sufficient to support development.
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She said: “Nigeria has been blessed with natural gas resources (currently a reserve of 207 TCF) in addition to oil. This is enough to support developments by leveraging digitalization, innovation, and technology across the board.
“It is projected that by the year 2050, Nigeria will be the 3rd most populous country on earth, necessitating an urgent need to think outside the box and proffer sustainable solutions to the country’s energy crisis.”
Isichie also said considering the government policy of 2020-2030 as the Decade of Gas, the government should speed up CNG investment and ensure all LPG importers set up processing plants in Nigeria so that the commodity will be readily available and at an affordable price.
According to her, the conference said despite the PIA 2021, persistent issues include under-utilized refineries, capacity gaps in the workforce, and challenges with technology transfer and environmental obligations.
It was also recommended that there should be a strong mandate for all Ministry of Petroleum Resources agencies to partner and collaborate on generating solutions and evolving the required technology for local production issues.
The conference, according to the communique, emphasised maximizing Nigeria’s 207 TCF gas reserves to drive national development, urging the acceleration of CNG investment and sector liberalization to diversify the economy into agriculture and ICT.
Isichie said there was a resolution to establish centres of excellence and foster collaboration between industry and academia to build a talented workforce prepared for the energy transition.
The conference, said the Director, stressed that transparency is the “currency of trust” needed to propel the sector, advocating for domestic participation and leveraging divestment to demonstrate local technical and financial capability.
The 4th Biennial International Conference on Hydrocarbon Science and Technology (ICHST) was organized by the Petroleum Training Institute (PTI) in partnership with the Ministry of Petroleum Resources (MPR), Petroleum Technology Development Fund (PTDF), Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Nigerian Midstream and Downstream Petroleum Authority (NMDPRA), NNPC Academy, Nigerian Content Development and Monitoring Board (NCDMB), and CypherCrescent Ltd.
