Our Target Is To Make NNPC Biggest, Most Capitalized Company In Africa– FG
The Federal Government has said that it is planning to make the Nigerian National Petroleum Company Ltd the biggest and most capitalized company in Africa.
The Minister of State for Petroleum, Timipre Sylva, made the disclosure on behalf of President Muhammadu Buhari.
Sylva said this at the 5th edition of the Nigerian International Energy Summit 2022 held at the Presidential Banquet Hall in Abuja on Monday.
The summit was formerly the Nigerian Petroleum Summit, but rebranded to replace ‘petroleum’ with ‘energy’ as the push for low carbon energy intensifies.
At the COP26 held in Glasgow, UK in 2021, Nigeria was among the low emitters that opted for 2060 as a feasible deadline to achieve net zero emission.
To fast-track Nigeria’s commitment, the country launched the ‘Decade of Gas,’ which makes gas the transition fuel and also signed the Petroleum Industry Act in 2021 to overhaul the oil industry.
“The energy sector has been elevated to become the goose that lay the golden egg for the nation under the leadership of the President, Muhammadu Buhari,” said Sylva
“Both energy poverty and the climate change nexus have to be addressed simultaneously. It must be geared towards clean and sustainable sources.