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Energy Transition: African countries must focus on strategic national interest – Heritage CEO, Oseragbaje

The Chief Executive Officer, Heritage Energy, Ado Oseragbaje, has urged African nations to focus on their strategic national interests in order to sustain development and regional survival as global energy industry races toward energy transition 

Ado, who was speaking during a panel discussion with other Nigerian energy industry leaders on the role of National Oil Corporations in stimulating accelerated sustained development of hydrocarbon in Africa at the just concluded Nigeria International Energy Summit (NIES) in Abuja, Nigeria, noted that the key role of NOCs is to help drive national development in their various countries.


He affirmed that that energy transition should be consistent with the strategic interest of each country and region. This he said was accentuated by how quickly key European countries opened the coal mines in the wake of the threats to energy supplies following the Russian-Ukraine war. “Each country is in a different phase of the energy transition, and each country must therefore prioritize to reflect strategic national and regional interests”, he added. 

The Nigeria International Energy Summit is the largest gathering of oil and gas industry players as well as policy makers in the West African Region. This year’s event featured high level participation from various African countries, including Algeria, Benin Republic, Libya, Egypt, Ghana, Equitoria Guinea, Republic of the Congo as well as other key global industry organization such as OPEC and others.


MY THOUGHTS: Fuel subsidy removal suspension commendable 

Relying on a World Bank loan of $800 million palliative to remove fuel subsidy in less than 60 days would not only have thrown the country into turmoil but would also have rendered the in-coming government of President Bola Ahmed Tinubu incapacitated with economic crisis. Besides, it would have been too early for the administration to start grappling with labour crisis.


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