Nigeria relies heavily on oil and gas revenues
Nigeria banks on gas as bridge to renewables
Government could lose 60pc of oil and gas revenue over coming decades in a net-zero scenario
Nigeria will have to lean heavily on revenue from gas as a transition fuel, despite the risks posed by falling global demand, as it lacks the financial resources to “leapfrog” straight to a renewables-based economy, a government official says. “Our current reality makes it imperative that gas needs to play a big role in getting the funding for the orderly (energy) transition,” says Kelechi Ofoegbu, senior technical adviser to Nigeria’s Minister of Petroleum Resources. “As of today, national gas policy is that we aim to be an attractive, gas-based industrial nation with a significant presence in national international markets,” he told an event held by non-governmental organisation Carbon Tra
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