The Chairman of Shell Companies in Nigeria, Osagie Okunbor, recently revealed that the Trans Niger Pipeline (TNP) was shut down for one year due to massive crude oil theft on the pipeline.
Okunbor disclosed that Shell discovered and removed 460 illegal connections on the TNP before the facility could be restored.
The security of oil infrastructure should be given priority, according to Okunbor, who spoke at the 6th Nigeria International Energy Summit in Abuja.
He noted that Nigeria was not short of frameworks and written documents on how to tackle the challenges in the oil sector.
However, the lack of power to execute the recommendations and policies in various documents and laws of the oil sector remains a challenge.
The Vice President of Nigeria, Prof. Yemi Osinbajo, announced during the summit that the Federal Government plans to generate 5,300 megawatts of electricity from solar and produce six billion litres of biofuel annually.
Osinbajo pointed out that Nigeria and other African countries have some of the largest natural resources but are among the lowest emitters of carbon. He stressed that the continent could do much more in developing its own agenda for a green future.
The energy transition plan calls for the ramping up of solar cells, and the transition of at least two million Nigerian households annually to cleaner cooking fuels, such as LPG and electricity every single year, these ambitions are achievable, according to Osinbajo.
The oil sector in Nigeria faces several challenges that need urgent attention, particularly the security of oil infrastructure, News About Nigeria reports.
However, the country has enormous opportunities to develop its own agenda for a green future by leveraging its abundant natural resources.
The Federal Government’s plan to generate electricity from solar and produce biofuel is a step in the right direction towards achieving a sustainable energy future for Nigeria.