Energy experts have called for concerted efforts to cut greenhouse emissions but highlighted that reducing emissions does not necessitate abandoning oil and gas but rather requires the adoption of cleaner technologies and sustainable practices.
The experts disclosed this at a webinar titled ‘Transitioning Away from Emissions, not Oil and Gas,’ organised by the Nigerian Institution of Petroleum Engineers (NiPeTE) and the Lagos Chamber of Commerce and Industry Professional Practice Group (LCCI PPG), through online discussions.
They discussed the role of oil and gas in global emissions and also proffers solutions that can be addressed.
The former executive commissioner for Development and Production at the Nigerian Upstream Petroleum Regulatory Commission, (NUPRC), Dr Nuhu Habib noted that, while oil and gas production contributes to emissions, it is not the largest source of global greenhouse gases.
He highlighted that oil and gas will remain key drivers of the global economy for at least the next 50 years.
Habib pointed out that oil and gas account for only about 15 per cent of industrial emissions, emphasising that the real challenge lies in addressing the broader industrial activities that contribute to greenhouse gases.
He advocated for a focus on reducing emissions overall rather than solely targeting oil and gas production, which could negatively impact the global economy.
He also criticised the incomplete financial commitments under the Paris Agreement to support African nations in climate change mitigation, stressing the importance of genuine international collaboration and commitment.
The president and chairman of the Council at LCCI, Gabriel Idahosa, highlighted the significant emissions from gas flaring and other petroleum activities in Nigeria, which exacerbate climate change and affect public health, calling for innovative approaches to decarbonise the economy while maintaining the growth and stability provided by oil and gas resources.
Idahosa noted that the oil and gas sector is vital to Nigeria’s economy, accounting for about 90 per cent of export revenues and approximately 60 per cent of government revenue, pointing out that Nigeria’s CO2 emissions reached around 120 million tons in 2023, underscoring the environmental impact of its energy sector.
He stressed the need for a robust policy and regulatory environment to support this transition.
While recognising the Petroleum Industry Act(PIA) as a positive step, Idahosa advocated for additional measures such as carbon pricing, tax incentives, and stricter environmental regulations to promote clean technologies and sustainable practices.
The national chairman of NiPeTE, Engr. Prisca Kanebi, emphasised the importance of balancing global greenhouse gas reduction goals with Nigeria’s development needs.
The Planning and Commercial Research officer at Gas and Power Investment Service, NNPC Ltd., Dr Mohammed Malami, called for the strategic integration of low-carbon technologies and improved operational efficiency to reduce emissions without eliminating oil and gas entirely.