The Chief Executive Officer of Herries Energy, Osayande Igiehon, has called for timely action to harness Nigeria’s gas resources to secure Nigeria’s energy future and promote sustainable development. emphasized the need.
He also said that by fostering strong collaboration between upstream companies like Heir Energy and power generation companies, Nigeria will be able to seamlessly unlock the full potential of its natural resources for the prosperity of all Nigerians. He emphasized that it is possible to build a value chain.
Mr. Igihon spoke at the Nigeria Energy Leadership Summit on “Empowering Nigeria’s Future – Harnessing Gas to Power Solutions for Energy Security and Sustainable Development” on Thursday, October 17, 2024. He made this clear in a lecture at a plenary session on the theme.
According to him, Gas to Power solutions are more than just an option. They are the mainstay of Nigeria’s energy future.
He added that the country is at a critical juncture, a moment in time where the decisions we make will shape the energy landscape for generations to come.
CEO of Heirs Energies Ltd said: “Nigeria faces persistent energy challenges, but is blessed with abundant natural gas resources.
The real question is not whether we have the means to power the country, but how to effectively utilize these resources to ensure energy security and promote sustainable development. It’s up to you whether you can do it. ”
“At Heir Energy, we believe gas to power is the most reliable bridge to a sustainable energy future.While the pursuit of renewable energy remains essential, the reality is that a stable baseload energy supply is essential. is important, and natural gas provides just that.
“This provides a cleaner alternative to coal and diesel and helps stabilize the national grid while reducing carbon emissions.”
“Economically, leveraging gas for power generation is essential. This reduces dependence on imported fuels, strengthens energy security and fosters a vibrant domestic gas market.
“This will create jobs, attract investment and foster growth across the value chain.”
“Most importantly, gas to power has the potential to dramatically improve the lives of millions of Nigerians. Reliable electricity is not a luxury; it is an essential part of human development. It is the basic power source for hospitals, schools, and businesses.
It is the backbone of industrialization, innovation, and productivity. In essence, a reliable energy supply is the foundation on which we can build a more prosperous and just society,” said Heir Energies CEO.
Building on his remarks, Mr. Igihon acknowledged the Nigerian government’s ambitious power sector goals for 2030, which aim to provide access to over 90% of the population and regenerate over 30% of electricity generated. It is predicted that available energy will dominate.
He said these goals are difficult but achievable through cooperation and optimization of resources, especially Nigeria’s natural gas reserves.
“Achieving these goals requires more than just goodwill, it requires unified and decisive action from all stakeholders.
The federal government must provide a stable and transparent regulatory environment to encourage investment in gas production, infrastructure, power generation, transmission, distribution, and metering.
“The Petroleum Industry Act of 2021 and the Presidential Directive of 2024 are important drivers of gas production and transportation, and the Power Sector Reform Act of 2022 is an important driver for states, private organizations, and individuals across the electricity value chain. It opens the door for participation.”
“The private sector is also developing innovative solutions and building on critical infrastructure such as gas processing plants, pipelines, modern power plants, power grid upgrades at national and local levels, and improvements to distribution networks and meters. We must address this situation by providing funding.
“As industry leaders, we need to work together now more than ever to expand rural electrification through distributed solar, mini-grid, and off-grid technologies. Investing in solar mini-grids With the potential to generate $9.2 billion annually, the opportunities are enormous.
“However, the challenges are multifaceted, from inadequate infrastructure and regulatory bottlenecks to funding constraints. No single organization can overcome them alone. Strong partnerships between the public and private sectors Only can we get the results we want.”
Mr. Igihon stressed that Heir Energies is committed to being a strategic supplier of gas to power plants and industries and plays an important role in Nigeria’s energy security.
“At Heir Energy, our mission goes beyond delivering molecules. We are committed to meeting Africa’s energy needs in a sustainable, responsible and innovative way. I’m here.
This means investing in advanced technology to reduce flaring and minimize methane emissions. It also means working closely with communities to ensure the benefits of energy development are shared equitably. And we will continue to innovate to maximize the value of our natural gas resources for the benefit of all Nigerians. ”
“The road ahead will not be easy, but Nigeria has the talent, expertise and determination needed to overcome these obstacles.
Together, we can write a new chapter in this country’s energy story. This is the story of how reliable, affordable and clean energy drives economic growth and improves lives across the country.
Mr. Igiehon further stressed that Nigeria is entering a new chapter in not only meeting its domestic energy needs but also establishing itself as a major energy exporter across Africa and abroad.
Oladehinde Oladipo
Dipo Oladehinde is a seasoned energy analyst with experience across Nigeria’s energy sector and relevant know-how on Nigeria’s macroeconomics. He provides a combination of market intelligence, financial analysis, industry insights, micro- and macro-level analysis of a wide range of regional and international issues, as well as information for policy-making and personal direction. It also provides a technical foundation.