Komolafe Highlights the Decade of Gas Initiative as a Major Economic Driver for Nigeria
In a pivotal speech delivered during the 2024 Association of Energy Correspondents of Nigeria (NAEC) Annual Conference, Engr. Gbenga Komolafe, the Commission Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), underscored the importance of natural gas as a key component of Nigeria’s economic strategy. His remarks offered critical insights into how the Decade of Gas initiative is poised to steer Nigeria towards sustained industrial development, energy security, and environmental sustainability, establishing the nation as a front-runner in the evolving global energy landscape.
The theme of the conference aligned with ongoing global shifts in energy policy, particularly in light of the climate crisis and the international emphasis on transitioning to cleaner energy sources. Komolafe acknowledged the post-Paris Agreement era as a turning point, with many countries committing to aggressive carbon neutrality goals. These global shifts, along with last year’s COP28 Summit, which aimed to triple global renewable energy capacity by 2030, offer both challenges and opportunities for Nigeria. Komolafe stressed that while the urgency of combating climate change is undeniable, Nigeria’s economic development cannot be compromised, making natural gas a strategic asset in the country’s energy transition.
The Nigerian government has declared natural gas as its transition fuel, viewing it as an immediate solution for reducing greenhouse gas emissions compared to oil and coal, while still providing the reliability needed for industrial growth. Komolafe reiterated that natural gas will play a central role in Nigeria’s energy mix beyond 2030, providing a cleaner alternative to oil and coal. The Decade of Gas initiative, spanning 2021 to 2030, is designed to leverage Nigeria’s vast gas reserves to boost industrial development, improve energy accessibility, and reduce emissions. “The future we envisage for the petroleum industry is one that assures the utilization of Nigeria’s natural hydrocarbon resources for shared prosperity, energy accessibility, affordability, sustainability, and security,” he said.
Komolafe also highlighted the role of natural gas in helping Nigeria address its growing energy demand. With a projected compound annual growth rate of 16.6% between 2020 and 2030, domestic demand for gas is expected to outstrip supply. However, investments in major projects, such as the Nigeria-Morocco pipeline and the Ajaokuta-Kaduna-Kano (AKK) Natural Gas Pipeline Project, are set to enhance Nigeria’s gas production capacity.
In addition to industrial development, the NUPRC is leading initiatives aimed at reducing environmental waste through the Nigerian Gas Flare Commercialisation Programme (NGFCP), which focuses on eliminating gas flaring and monetizing this wasted resource. According to Komolafe, this program not only reduces carbon emissions but also ensures that more gas is available for domestic use, particularly in power generation, fertilizer production, and petrochemical manufacturing.
Komolafe emphasized that Nigeria’s energy transition strategy must consider its unique geopolitical, economic, and social circumstances. While the global push for energy transition is well justified, the country’s energy security, economic prosperity, and industrial development must remain at the forefront of national priorities. As the global energy landscape evolves, Nigeria’s challenge lies in balancing its own developmental needs with international commitments to reducing carbon emissions.
He concluded his address by highlighting the leadership of President Bola Tinubu and the role of the Petroleum Industry Act (PIA) in creating a more competitive and efficient oil and gas sector. The recent Presidential Executive Orders have complemented the PIA in ensuring that Nigeria remains a top destination for oil and gas investments despite global pressures to reduce reliance on fossil fuels.
“With a population of over 200 million people and vast natural resources, Nigeria is positioned to become a global energy superpower,” Komolafe said. “Our collective challenge is to seize the opportunities presented by the Decade of Gas and the broader energy transition to ensure sustainable growth, energy security, and shared prosperity for all Nigerians.”
