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Tuesday, June 25, 2024

Energy transition: Expert tasks African nations on strategic national interest

Chief Executive Officer, Heritage Oil Ltd., Mr  Ado Oseragbaje, says African countries must focus on their strategic national interests to sustain development and regional survival.

Mr  Ado Oseragbaje
Chief Executive Officer, Heritage Oil Ltd., Mr  Ado Oseragbaje

Oseragbaje said this became important as global energy industry race toward energy transition.

Mr Sola Adebawo, General Manager, Government, Joint Venture and External Relations, Heritage Energy Operational Services Ltd., quoted Oseragbaje in a statement issued on Tuesday, April 25, 2023, in Lagos.

Oseragbaje gave the advice while speaking during a panel discussion with other Nigerian energy industry leaders at the lnternational Energy Summit (NIES) in Abuja.

They spoke on the role of National Oil Corporations (NOCs) in stimulating accelerated sustained development of hydrocarbon in Africa.

Oseragbaje, who is also the CEO of the Nigeria subsidiary of Heritage Energy Operational Services Ltd. (HEOSL), noted that the key role of NOCs was to help drive national development in their various countries.

He said that every African nation must prioritise energy security above other factors in the energy transition process.

Oseragbaje affirmed that energy transition should be consistent with the strategic interest of each country and region.

This, he said, was accentuated by how quickly key European countries opened the coal mines in the wake of the threats to energy supplies following the Russian-Ukraine war.

“Each country is in a different phase of the energy transition, and each country must therefore prioritise to reflect strategic national and regional interests, he said.

The Nigeria International Energy Summit is the largest gathering of oil and gas industry players as well as policy makers in the West African Region.

This year’s event featured high level participation from various African countries, including Algeria, Benin Republic, Libya, Egypt, Ghana, Equitorial Guinea, Republic of the Congo, as well as other key global industry organisations such as OPEC, among others.

By Yusuf Yunus

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