Mele Kyari, the Group Chief Executive Officer (GCEO) of NNPC Ltd., emphasized the need for a “just, differentiated transition” for the African Continent to effectively leverage its resources for present and future generations, during a Regional CEO Panel at the ongoing United Nations Conference on Climate Change (COP28) in Dubai.
Addressing a gathering of global energy leaders from the United States, Holland, and Oman, Kyari highlighted the significance of understanding Africa’s unique circumstances in addressing climate change impacts on the energy sector. Chief Corporate Communications Officer NNPC Ltd Abuja, Olufemi O. Soneye, conveyed Kyari’s remarks during the McKinsey & Company-organized panel on Monday.
Kyari stressed the imperative of a tailored approach to energy transition in Africa, citing the current situation where 75% of the population lacks access to electricity, relying heavily on biomass. He urged the global community to recognize the practicality of short-term solutions to bridge the energy gap for the continent’s burgeoning population.
Considering Nigeria’s projected status among the top 10 global economies by 2035 and the third-largest population globally, Kyari emphasized the urgency of addressing energy poverty as nations strive for net-zero emissions by 2050.
Highlighting Nigeria’s substantial natural gas reserves, estimated at 206 trillion cubic feet (tcf) and potentially reaching 600 tcf, Kyari outlined NNPC Ltd.’s efforts to utilize gas in propelling the country’s energy transition. The company is establishing a regional gas pipeline network to supply natural gas across Africa and enhance its Liquefied Natural Gas (LNG) exports.
Kyari detailed NNPC Ltd.’s commitment to a net-zero future by 2025, citing recent participation in the United Nations Global Compact in New York. This makes NNPC Ltd. the first state-owned oil company to align with the global initiative. Furthermore, Kyari highlighted the company’s initiatives to eliminate gas flares across its projects, redirecting the gas for power plant development, contributing to nationwide electricity supply, job creation, and fostering industrial and economic growth.
