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COP28UAE: Energy transition must consider Africa’s peculiarities on net-zero future –Kyari, NNPCL GCEO

Mele Kyari, Group Chief Executive Officer of NNPC Limited, Stressing a Point at a Regional CEO Panel by McKinsey & Company at COP28, in Dubai, UAE Photo: NNPCL

*Mele Kyari, Group Chief Executive Officer of NNPC Limited, at a Regional CEO Panel by McKinsey & Company on the sidelines of ongoing COP28, in Dubai, maintains the world should understand Africa’s unique peculiarities in addressing the effects of climate change on energy businesses on the continent

Isola Moses | ConsumerConnect

Malam Mele Kyari, Group Chief Executive Officer (GCEO) of NNPC Limited,  has advocated the African continent needs “a just, differentiated transition” to enable it to harness its resources for today for the benefit of its future generations.

ConsumerConnect reports Kyari said this Monday, December 4, 2023, in his address as conversations on finding sustainable solutions for a decarbonised energy future continue to hold globally, specifically at the ongoing United Nations Conference on Climate Change (UNCCC), also known as COP 28 Conference in Dubai, United Arab Emirates (UAE).

The GCEO of NNPC Limited, who stated this while speaking at a Regional CEO Panel organised by McKinsey & Company, on the sidelines of the ongoing COP28, had joined other global energy leaders from the United States (US), Holland, and Oman to highlight energy perspectives and insights on the evolving energy market.

Olufemi Soneye, Chief Corporate Communications Officer at NNPC Limited, also stated Kyari maintained that the global world must understand Africa’s peculiarities in addressing the effects of climate change on energy businesses.

The NNPCL Chief said: “I have always advocated for a differentiated and just energy transition.

“In Africa, we have different circumstances compared to other places in the world.”

He explained: “In Africa today, 75% of our population don’t have access to electricity, leaving us with biomass as a key energy source.

“The world needs to recognise that the most practicable thing to do today is to substitute what we have in the short term to close the energy gap for our rising population.”

It is also noted that Nigeria is projected to be among the global 10 top economies by 2035 and 3rd in terms of global population by the same year,

Soneye noted in the statement the GCEO said it is critical that the energy poverty question is discussed as countries unite to achieve net-zero by 2050.

According to Kyari, with an abundant natural gas reserves of 206 trillion cubic feet (tcf) that has the potential to rise to 600tcf, Nigeria is currently utilising gas to drive its journey towards energy transition.

The NNPC Limited, said the GCEO, is creating a regional gas pipeline network that will supply natural gas across the African continent and boost its Liquefied Natural Gas (LNG) supply to the foreign market.

Explaining that the NNPC Limited is currently eliminating gas flares in almost all its gas projects, Kyari said the idea is to deploy such gas towards developing power plants nationwide, which will boost nationwide electricity supply, create employment opportunities, and trigger the nation’s industrial and economic development.

Kyari stated in order to demonstrate NNPC Limited’s commitment to a net-zero future by 2025, the Company recently in New York, in the US, signed up as a participant of the United Nations Global Compact, becoming the first state-owned oil company to join the global initiative.

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