The Minister of State for Petroleum Resources, Senator Heineken Lokpobiri, has said the call for energy transition will not dissuade the federal government from using its hydrocarbon resources to achieve energy security for its over 200 million population.
Lokpobiri remarked at an event organised by the Petroleum Technology Association of Nigeria (PETAN).
According to the minister, fossil fuel as a source of energy is here to stay despite the campaigns against carbon emissions.
Lokpobiri highlighted the impact of calls for global investments in renewable energy on fossil fuel.
He said Nigeria is focused on attracting more investments in the oil and gas sector and improving its oil production.
The minister said, “Ignore the rhetoric of fossil fuels going away. Historically, no source of energy has gone away.
“Our struggle for energy security globally still lies with oil and gas.
“While the world may be shifting towards energy transition, fossil fuels remain indispensable. As such, attracting investments to maximize our resources and generate prosperity is paramount.”
Lokpobiri also hailed the involvement of indigenous players in Nigeria’s oil and gas industry, adding that it has improved productivity and led to the growth of the industry.
Lokpobiri said, “Our drive for indigenous players in the oil sector has proven immensely productive, drawing the attention of other nations eager to learn from our model.
“This system has been a cornerstone of our sector’s success, showcasing the strength of local expertise in driving growth and innovation.”