Seplat Energy Plc has reiterated that oil and gas will continue to play a critical role in Nigeria’s energy mix, while stressing the need for operators to conduct their activities responsibly, efficiently, and sustainably.
This position was articulated by the chief executive officer of the company, Roger Brown, at a high-level climate roundtable organised by the Nigerian Exchange Group (NGX Group) in partnership with DEG, Germany’s development finance institution, and Africa Foresight Group (AFG) held in Lagos.
Brown who was represented by the director, Gas & New Energy, Seplat Energy, Okechukwu Mba, noted that the real issue facing Nigeria’s energy sector is not whether oil and gas should exist, but how operators manage their responsibilities to the environment, society, and the economy.
“Oil and gas will remain an important part of Nigeria’s energy mix for some time to come. The right conversation is not whether oil and gas should exist, but how operators conduct themselves responsibly,” he said.
He emphasised that responsible operations must be driven by concrete actions, including improved efficiency, reduced emissions, and credible offsetting strategies.
He highlighted Seplat Energy’s deployment of technology to enhance operational efficiency, including real-time monitoring of emissions across pipelines, valves, plants, and other critical infrastructure, supported by a robust asset integrity programme that identifies and eliminates emissions.
He also pointed to the company’s investments in gas and LPG infrastructure as part of efforts to reduce emissions beyond its direct operations.
According to him, expanding access to LPG helps reduce reliance on firewood, charcoal, and other biomass fuels, particularly in communities outside major cities.
Following Seplat Energy’s offshore acquisition, he noted that LPG that was previously exported has now been redirected to the domestic market, significantly improving availability, affordability, and overall market quality.
Brown also underscored the urgent need for financing to support Nigeria’s energy transition, particularly gas and gas-to-power projects, noting that while only about five gigawatts of electricity currently come from the national grid, a much larger share of power is self-generated through petrol and diesel generators that produce significantly higher emissions.
The group chairman of NGX Group, Dr Umaru Kwairanga, said Africa’s capital markets must take a leading role in driving climate action and sustainable growth, adding that the NGX Net-Zero Programme would help companies move from climate ambition to measurable action.
Also presenting the investment case, Group managing director of NGX Group, Temi Popoola, noted that climate risk has become a critical factor in valuation and capital allocation globally.
The event marked the launch of the NGX Net-Zero Programme (N-Zero), an initiative designed to support listed companies in defining net-zero pathways, improving climate-related disclosures, and aligning with global investor expectations. The programme is expected to unlock between $2.5 billion and $3.1 billion in climate-linked capital for Nigerian companies.
SOURCE: LEADERSHIP NEWS PAPER
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