Connect with us

Energy Transition

BCG commends NNPC’s energy transition plans

Published

on

nnpc

A leading global management consulting firm, Boston Consulting Group (BCG), has commended the Nigerian government for the renewed efforts to transition from fossil fuel by leveraging the country’s abundant gas reserves and electric vehicles.

The company gave this commendation following the declaration by Mallam Mele Kyari, the Group Managing Director (GMD) of Nigeria National Petroleum Company Limited (NNPC), at the just concluded Nigeria Oil and Gas conference in Abuja, that the government is focusing on the development of gas as an energy transition fuel.

Oluseun Solanke-Ebhojie, Partner and Associate Director at BCG Nigeria, said Nigeria’s energy transition plan is consistent with the Paris Agreement to keep global warming to less than 2⁰C, to which Nigeria has consented.

She stated that gas was a good choice as an energy transition fuel due to its greater cost competitiveness, ability to replace fossil fuel use in many industries and reduce the carbon footprints in the country.

Solanke explained that the country’s gas reserves of about 206.53 trillion cubic feet were sufficient to meet local demand and for exportation.

To achieve significant growth in the energy transition process, she pointed out that (NNPC) investment in gas infrastructure and charging ports for electric vehicles will accelerate the plans.

She said, “At a time when global economies are striving to recover from the impact of coronavirus and a slowing economy, the need to switch to sustainable energy is imperative. The ambitious plans of the government to convert car engines from petrol to gas-powered engines should be supported with infrastructure buildout such as storage facilities, pipelines and service stations that will enable access to gas supplies and boost consumption.

“Also, investment and adoption of gas technologies and innovation have proven to deliver a reduction in direct emissions, thereby enabling the decarbonisation goals to be reached.”

At the NOG conference, Kyari identified gas as a critical resource in Nigeria’s energy mix and transition plans, saying that opportunities to create wealth for the country had been seen in the growing local and international demand for gas.

The NNPC Limited is encouraging the production and use of about one million electric vehicles by partnering with indigenous car manufacturers.

BCG’s team of experts are dedicated to exploring and developing valuable new insights from business, technology, and energy as well as helping leaders identify their greatest opportunities.

Author

Add your voice

0 comments

Advertisement Custom Text

People reading currently

Climate Finance Climate Finance
Dev. Finance5 days ago

Kenya, Nigeria named as targeted countries for climate-blended finance deals

Nigeria and Kenya have been identified as the most frequently targeted countries for climate-blended finance flows in the past three...

FuturizeU supports development of innovative healthcare products in Africa FuturizeU supports development of innovative healthcare products in Africa
Social Entreprenuership3 months ago

FuturizeU supports development of innovative healthcare products in Africa

Futurize and AstraZeneca are investing in social entrepreneurs who are developing innovative products that are addressing healthcare equity and early...

Banjul International Airport in Gambia Banjul International Airport in Gambia
Dev. Finance3 months ago

Saudi Fund for Development advocates Climate Change Mitigation, Social Infrastructure Investments in Africa

  The Saudi Fund for Development (SFD) has advocated for the preservation of heritage projects in Africa through initiatives such...

Catalyst Fund Team Catalyst Fund Team
Climate & Environment3 months ago

Catalyst Fund Raises First Round of $40 million investment in African Climate Startups

The Catalyst Fund has achieved the initial close of its $40 million fund for investing in climate startups in Africa....

Paystack CEO, Shola Akinlade, buys majority stake in Aarhus Fremad Paystack CEO, Shola Akinlade, buys majority stake in Aarhus Fremad
Sports8 months ago

Paystack CEO, Shola Akinlade, buys majority stake in Aarhus Fremad

A Danish football club, Aarhus Fremad announced on Tuesday that it has sold  55 percent of its shares to the...

MRI is increasing survival rate of women with breast cancer- PPC MRI is increasing survival rate of women with breast cancer- PPC
Climate & Environment8 months ago

MRI is increasing survival rate of women with breast cancer- PPC

PPC Limited, Nigeria’s leading engineering and infrastructure development company with footprints across Nigeria’s healthcare landscape, says that the advancement of...

Adeleke versus Oyetola Adeleke versus Oyetola
Policy & Regulation8 months ago

Appeal court upholds Senator Ademola Adeleke’s win in Osun

The Court of Appeal Abuja has overturned the ruling of the Osun State Governorship tribunal and has declared Senator Ademola Adeleke...

Lawmaker demands revamp of bank e-payment platforms Lawmaker demands revamp of bank e-payment platforms
Dev. Finance8 months ago

Lawmaker demands revamp of bank e-payment platforms

The members of the House of Representatives have demanded that the Central Bank of Nigeria (CBN) direct banks to revamp...

CBN to destroy naira notes worth N6tn CBN to destroy naira notes worth N6tn
Economy8 months ago

We’ve disbursed N20bn to alleviate cash crunch, CBN tells NLC

The Central Bank of Nigeria (CBN) met with the leadership of the Nigeria Labour Congress (NLC) in Abuja on Thursday,...

 Apply for Amazon Accelerator programme for fintech founders  Apply for Amazon Accelerator programme for fintech founders
Opportunities8 months ago

 Apply for Amazon Accelerator programme for fintech founders

Application closes April 27, 2023 Today, Amazon Web Services’ Startup Loft Accelerator team announced the inaugural launch of its AWS...

Ad Blocker Detected!

Advertisements fund this website. Please disable your adblocking software or whitelist our website.
Thank You!

you're currently offline