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Global Energy Transition: Opportunity For Nigeria To Attract Investment

The ongoing disruptions in the international energy industry present a unique opportunity for the Nigerian oil and gas industry to attract investments and serve as one of the leading hubs to meet global energy needs.

The Executive Secretary, Nigeria Content Development and Monitoring Board (NCDMB), Simbi Kesiye Wabote stated this at a lecture at the Society of Petroleum Engineers – Oloibiri Lecture Series and Energy Forum (SPE – OLEF) 2022 in Abuja.

Speaking on the theme: “Global energy transition: Implications on future investments in the Nigerian oil and gas industry”, he maintained that the clamour by developed countries to reduce carbon emissions through cutting the utilisation of fossil fuels is because those nations have run out of hydrocarbon reserves.
Wabote outlined his perspectives on global energy transition, its implications on global energy security and investments and the opportunities for the oil and gas industry in Nigeria, pointing out that the outcome of energy transitions has always been the redistribution of the constituents in the energy mix rather than the outright swap of one form of energy for another.

Source: Nation

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