The Energy Republic July Edition 2022

NOG FEATURES
D u e t o c l i m a t e c h a n g e , m a ny
institutional investors are running away
from fossil fuels. We need to bridge that
gap.
"As a country, we need to be serious
about establishing additional sources of
funds. I would expect that in a very few
years that we should have an energy
bank where companies in the oil industry
can access credit to develop the field.
"I expect we should have a robust bond
market for E&P companies to explore
opportunities in the capital market.
Though enough of that isn't happening.
"For many of these indigenous
companies, I expect the companies to be
listed. It will deepen the Nigerian stock
market. There is enough for everybody
and we should see the oil and gas
industry as an engine for shared
prosperity for Nigeria".
The focus of the 2022 edition
The NOG Conference & Exhibition will
focus on the strategies that will be
adopted by the Nigerian government and
private sector leaders to navigate the
emerging business environment –
helping to set the nation’s energy agenda
for the next 12 months and beyond.
"The arrival of the global pandemic led to
a disparity in supply and demand of
hydrocarbons, a drop in oil price, and an
economic crisis of unprecedented
magnitudes. This introduced new
vulnerabilities to the main contributor to
Nigeria’s Government revenues.
"Oil continues to be one of the major
sources of power generation. However,
increasing global investment into cleaner
sources of energy, volatility of oil price,
and the awaited clarity on the legislative
30
framework for oil and gas production in
Nigeria all highlight the need for a more
diverse energy mix.
"The NOG Strategic Conference will review
Nigeria’s positioning within the evolving
global energy landscape, with a focus on
emerging opportunities to transform her
energy industry through robust legislation,
technology, and innovation, in-country
capacity development, and actualize energy
sufficiency targets," says dmg Event,
organizers of the conference.
As the world transitions toward cleaner
energy sources, there remains a need for
energy to drive industrialization sustainably.
Taking stock of Nigeria’s energy resources, a
clear agenda must be set for meeting
domestic energy demand, increasing export
market plays, and achieving international
environmental standards. According to dmg
Event, the 2022 edition of the conference will
assess the strategies in place to strengthen
Nigeria’s position as a global energy player
and increase the use of low carbon.
With the impact of Covid-19 on oil-dependent
economies like Nigeria and how it has
introduced greater uncertainties and
strengthened pre-existing vulnerabilities,
stakeholders will look at new approaches to
legislation and policy as part of the strategy to
sustain and increase oil and gas industry
activities in the country.
Also, lower oil prices, ongoing operational
costs, and fiercer global competition mean an
increased need for oil and gas operators to
work smarter, faster, and more efficiently.
Stakeholders will discuss how the
government and the private sector can
collaborate to drive down the cost of
production. They will also look at areas digital
technology can be applied for rapid value
addition and a real return on investment.
Funding The Nigerian
Similarly, Nigeria’s oil and gas sector presently
accounts for about 70 percent of government
revenues and 90 percent of foreign exchange
earnings. However, it is projected by the
Federal Government that by increasing local
content to 70 percent, the country would
retain $10 billion annually. The stakeholders
will look at the capacity development
strategies being developed to create
socioeconomic independence for the nation.
They will in addition discuss how the
proposed Local Content Development and
Enforcement Bill and Nigerian Oil and Gas
Industry Content Development Act
(Amendment) Bill can enhance human
capacity development, encourage knowledge
and technology transfer and support the
domestic manufacturing of goods.
In the last three years, the development of a
domestic gas market has been at the top of
the Federal Government's priorities.
Stakeholders will look at how the impact of
global events on gas prices encourages the
domestication of gas as compared to export.
They will also discuss the appetite of investors
considering the domestic gas market value
chain, e.g. storage plants, virtual pipelines,
liquefaction plants, and compression stations
as well as look at the untapped opportunities
that exist in the use of LPG, CNG, and LNG in
the domestic market.
The conference will also discuss key issues
such as financing opportunities for energy
projects in sub-Saharan Africa, bridging the
infrastructure gap for the improved domestic
gas market, opportunities for indigenous
companies in the PIA era, technology
innovations for decarbonatization across the
value chain, and other critical topics, that will
help set the nation’s energy agenda for the
next 12 months and beyond.
Mix For Sustainable Economic Growth
THE ENERGY REPUBLIC I SPECIAL EDITION