…As Bayero hails Valuechain at 6th Annual Lecture
By Abubakar Jiddah Usman and Saidu Abubakar
Vice President, Kashim Shettima has disclosed that Nigeria is ranked the 9th in the world with over two hundred trillion cubic feet of untapped abundant gas resources.
He made the disclosure today in Abuja at the 6th Valuechain Energy Magazine Annual Lecture and Awards held at the Auditorium of the Petroleum Technology Fund (PTDF).
The Vice President who was represented by Alhaji Sadiq Wanka, Special Adviser to the President on Power Infrastructure in the Vice President’s Office said about 80 per cent of power generation in the country today was dependent on gas, saying that in less than a decade’s time it would be the dominant power generation source for the country.
Alhaji Kashim Shettima further stated that it was critical for Nigeria to hasten in its transition programme from fuel to gas, to meet up with her ambitious climate-friendly target by the year 2026.
He said the country would certainly be vastly enhanced socio-economically, if her abundant gas reserve could be diligently exploited, saying many industries and companies in Nigeria today depended largely on gas as their source of energy.
The Vice President said it was unfortunate that Nigeria’s trailing behind status, in spite of abundance, would not be appreciated without understanding that the country was far off from her potentials.
He said Nigeria earns only 5billion dollars from gas, about 40 per cent less than what Egypt earns, when that country has just 30 per cent of the abundant gas resources in Nigeria.
This year’s Valuechain Energy Magazine Annual Lecture and Awards, had as its theme, Midstream Gas Development: Pathway to Nigeria’s Energy Transition.
Speaking, as the royal father of the day at the occasion, His Royal Highness Alhaji Aminu Ado Bayero who, coincidentally, is the chairman of the advisory council of Valuechain, stated that the project would be a catalyst for the development, growth and progress of various enterprises, particularly small businesses which would translate into job opportunities and trades for the increasing population of the north.
The Emir again expressed optimism that the ongoing Ajaokuta-Kaduna-Kano, AKK natural gas pipeline project, if completed would be a veritable tool for socio-economic growth and development of the country in general, and the north in particular.
He said that in view of the various communities, states and cultures the AKK project would be cutting through, it could serve as economic linkage between the various peoples of the communities of all benefitting states and advantageously reduce the poverty and crime rate in the region.
He said that he was delighted to convey the enthusiasm of the people of Kano state about the AKK project which they eagerly expect and await to be completed soonest.
Alhaji Aminu Ado Bayero, whose gracious presence added glamour to the occasion commended the courage the Federal Government mustered in passing the Petroleum Industry Act, PIA, into law which liberalises the Petroleum Industry for fair participation and harmonious relation between players, regulators and host communities.
Earlier in his welcome speech, the Publisher/CEO of Valuechain Media Group, Akhaji Musa Bashir Usman inferred that “Our vision for Valuechain has always been clear: to offer the energy industry a special voice. This voice is not only dedicated to discussing the challenges that plague the industry but also to transforming it into an attractive investment destination on the global energy map.
He said the theme of today’s event, “Midstream Gas Development: A Partway to Energy Transition”, holds great significance for the energy industry. “It highlights the critical importance of developing the midstream gas sector as an integral part of our energy transition journey. To achieve our energy goals as a nation, we must consciously invest in infrastructure that facilitates the smooth transition of gas production from the upstream value chain to the downstream end”.
According to Alhaji Bashir, “this noble task is not one that can be accomplished in isolation. It requires determination from the government, which should provide the necessary policies and funding to make such investments attractive to both local and international stakeholders. Forums like the one we are attending today play a vital role in addressing these issues. They offer us the platform to engage in discussions about how, as a nation, we can develop, amend, rejig, and rectify any loopholes that may exist in our existing programs. The ultimate goal is to draw the attention of those responsible to take action and drive us closer to our energy transition aspirations.
“I stand before you today with immense gratitude in my heart. I would like to extend a warm and hearty welcome to all the dignitaries who have traveled from far and near to join us at the 6th Valuechain Annual Lecture and Awards held here at the prestigious PTDF Tower in Abuja. Your presence here today is a testament to the unwavering support you have provided to Valuechain over the past five years. Our journey has not been without challenges, particularly the rough terrain we’ve had to navigate, including the tumultuous period of the Covid-19 pandemic and economic turbulence. However, our passion for this publication remains undiminished.
“As we gather here today, I wish to express my profound gratitude to the many stakeholders, some of whom are present with us, who have consistently come to our aid in times of need, whether through patronage or various forms of encouragement. Your unwavering support has been the driving force behind our perseverance”.
He also enthused that “I want to take this opportunity, in front of this esteemed gathering, to acknowledge and appreciate our remarkable human capital. The success and accolades that the Valuechain brand has garnered do not belong to me; they belong to each and every one of you who have contributed your skills, dedication and passion. You are the lifeblood of this publication, and it is your hard work and commitment that have made it what it is today.
In conclusion, he added, “I would like to thank each and every one of you for your unwavering support, and I am confident that the discussions and insights that will emerge from this gathering will contribute significantly to the development of our nation’s energy industry. Let us all work together to make our energy transition a reality, and Valuechain will continue to be your reliable partner on this journey.”
Award presentations to some personalities as well as discussions by team of panelists as perfectly moderated by Mrs Omotayo Omotoso, an advisory council member of the Valuechain, was the climax of the event which was attended by critical stakeholders.