• Advertise
  • Contact us
Monday, January 30, 2023
Inside Reports
Advertisement
ADVERTISEMENT
  • Home
  • News
  • Politics
  • Entertainment
  • Sports
  • Business
  • Health
  • Data Report
  • Investigation & Features
  • BBN Update
No Result
View All Result
  • Home
  • News
  • Politics
  • Entertainment
  • Sports
  • Business
  • Health
  • Data Report
  • Investigation & Features
  • BBN Update
No Result
View All Result
Inside Reports
No Result
View All Result
Home Climate & Environment

Limited int’l financing of oil and gas projects could jeopardize Africa’s energy transition – Sylva

August 1, 2022
in Climate & Environment, News
0
Limited int’l financing of oil and gas projects could jeopardize Africa’s energy transition – Sylva

Minister of State for Petroleum Resources, Timipre Sylva

Share on FacebookShare on TwitterShare on LinkedInShare on Raddit

By Justice Nwafor

Nigeria’s minister of state for petroleum resources, Timipre Sylva, has said for the country and, indeed, Africa, to attain carbon neutrality, oil and gas projects in the country still need international funding.

Mr Sylva said this on Monday while delivering his ministerial address at the 45th Nigeria Annual International Conference & Exhibition (NAICE) of the Society of Petroleum Engineers, Nigeria Council, in Lagos.

The conference was themed ‘global transition to renewable and sustainable energy and the future of oil and gas in Africa’.

While acknowledging the imperativeness of moving away from fossil fuels, the minister reiterated that energy poverty is still a big problem in Africa and as such the transition to renewable energy sources has to be gradual.

ALSO FROM INSIDE REPORTS

  • Bureaux De Change Operators warn Nigerian govt against inflation, worsening hunger 
  • Again, ASUU extends strike, says govt has not made any offer
  • NDLEA intercepts 2.8m Tramadol tabs worth N1.4bn at Lagos Port
  • JOB: Software Engineer, Customer Success at Automattic

“Africa is still bedevilled with chronic energy poverty in this modern age, with about 600 million having no access to electricity, and about 900 million having no access to clean cooking fuel. This is unjustifiable, to say the least,” Sylva said, noting that “adaptive strategies for the energy transition should be adopted across the continent.”

While stating that Nigeria is committed to pursuing energy transition which promotes economic growth, he said the country is “gradually investing in renewable energies, primarily solar, to reduce carbon emissions, whilst continuing to exploit hydrocarbon resources, especially natural gas.”

He, however, noted that the campaign for reduced funding of fossil fuels explorations has led to a gale of divestment by the international oil companies in Nigeria.

But the bright side, he said, is that it presents an opportunity for Nigeria’s independent producers who have now developed the capacity to own the industry.

“It must however be admitted that the risk of limited international financing of oil and gas projects could jeopardise Africa’s energy transition and roadmap to attaining net-zero,” Sylva said.

He explained that, as a matter of necessity, Africa will have to look inward and harness its resources, while accelerating technology development, to face the global energy transition onslaught. “We need to develop cross-border infrastructure and expand regional energy market to guarantee long-term energy security.”

Follows us on our Facebook and Twitter for all news and updates.

Nigeria Lost N4.2 Trillion Crude Oil Revenue In 6 Months

Politicians above 60 should leave stage for younger ones — Fashola

FREE SUBSCRIPTION

Join our mailing list to receive the latest news and updates from our team.

You have Successfully Subscribed!

Tags: carbon neutralityemissionsenergy transitionnet-zerooil & gas
ShareTweetShareShare
Previous Post

‘Na outdoor shoot una do’: Nigerians react to pictures of soldiers dislodging bandits’ hideout in Abuja forest

Next Post

Auto crash kills four people in Delta

Editor

Editor

RelatedNews

My ‘veejay’ did it – Lady brags as she graduates from Nekede
News

My ‘veejay’ did it – Lady brags as she graduates from Nekede

January 30, 2023
Ebonyi: Ebubeagu operative kills colleague over N1,000
Politics

Ebonyi: Ebubeagu operative kills colleague over N1,000

January 30, 2023
Lady seeks advice over insecure fiancé who dislikes her sitting close to men in public transport
News

Lady seeks advice over insecure fiancé who dislikes her sitting close to men in public transport

January 30, 2023
What you must do if you want your wife to give you peace
News

What you must do if you want your wife to give you peace

January 30, 2023
EU to deploy 100 observers for 2023 polls
Politics

EU to deploy 100 observers for 2023 polls

January 30, 2023
Anambra sex worker found dead in hotel room
Politics

Anambra sex worker found dead in hotel room

January 30, 2023
Next Post
Auto crash kills four people in Delta

Auto crash kills four people in Delta

BBNaija: Hermes beats Cyph and Dotun to emerge head of house for week 2

BBNaija: Hermes beats Cyph and Dotun to emerge head of house for week 2

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • Trending
  • Comments
  • Latest
Video: Controversial Cross Dresser, James Brown's Sex Tape Leaks

Video: Controversial Cross Dresser, James Brown’s Sex Tape Leaks

October 10, 2022
VIEWER DISCRETION: More Videos of Fed Uni Lafia Lecturer Striping and Beating Student Over Sugar Daddy

VIEWER DISCRETION: More Videos of Fed Uni Lafia Lecturer Striping and Beating Student Over Sugar Daddy

October 22, 2022
Wife of celebrity designer Seyi Vodi attacks alleged side chic, strips her naked (Video)

Wife of celebrity designer Seyi Vodi attacks alleged side chic, strips her naked (Video)

October 1, 2022
Update: Why Police Released Six Davido's Workers, Detained Two Arrested Over Ifeanyi's Death

Update: Why Police Released Six, Detained Two Davido’s Workers Arrested Over Ifeanyi’s Death

November 2, 2022
Video: Controversial Cross Dresser, James Brown's Sex Tape Leaks

Video: Controversial Cross Dresser, James Brown’s Sex Tape Leaks

1
Video: Lady weeps bitterly over alleged demise of Davido’s son, Ifeanyi

Video: Lady weeps bitterly over alleged demise of Davido’s son, Ifeanyi

1
Wizkid announces joint tour with Davido

Wizkid announces joint tour with Davido

1

NGX committed to building structures towards SMEs funding

0
My ‘veejay’ did it – Lady brags as she graduates from Nekede

My ‘veejay’ did it – Lady brags as she graduates from Nekede

January 30, 2023
Ebonyi: Ebubeagu operative kills colleague over N1,000

Ebonyi: Ebubeagu operative kills colleague over N1,000

January 30, 2023
BBTitans: Mixed reactions over Tv show return ahead 2023 polls

BBTitans: Ipelang, Khosi, Yemi others nominated for eviction

January 30, 2023
Hold your lover tight – BBN star, Vee tells fans after breakup with Neo

Hold your lover tight – BBN star, Vee tells fans after breakup with Neo

January 30, 2023

Recent News

My ‘veejay’ did it – Lady brags as she graduates from Nekede

My ‘veejay’ did it – Lady brags as she graduates from Nekede

January 30, 2023
Ebonyi: Ebubeagu operative kills colleague over N1,000

Ebonyi: Ebubeagu operative kills colleague over N1,000

January 30, 2023
BBTitans: Mixed reactions over Tv show return ahead 2023 polls

BBTitans: Ipelang, Khosi, Yemi others nominated for eviction

January 30, 2023
Hold your lover tight – BBN star, Vee tells fans after breakup with Neo

Hold your lover tight – BBN star, Vee tells fans after breakup with Neo

January 30, 2023
Inside Reports

Inside Reports is a Nigerian media outlet aiming to advance democracy through disseminating credible news. In the era of fake news and infodemic, Inside Reports is the online media outlet to go to in search of credible, verifiable and factual news.

Follow Us

Browse by Category

  • AFRICAN NEWS
  • Basketball
  • BBN Update
  • Business
  • Campus gist
  • Celebrity gossip
  • Climate & Environment
  • Crime
  • Crypto
  • Data Report
  • Education
  • English premier league
  • Entertainment
  • Featured
  • Football
  • Foreign
  • Gadget
  • Golf
  • Health
  • Investigation & Features
  • Jobs
  • Laliga
  • Mobile
  • Movies
  • Music
  • News
  • Opinion
  • Politics
  • Sports
  • Sure betting odds
  • Technology
  • Tennis
  • TRENDING VIDEO
  • Uncategorized
  • Video

Recent News

My ‘veejay’ did it – Lady brags as she graduates from Nekede

My ‘veejay’ did it – Lady brags as she graduates from Nekede

January 30, 2023
Ebonyi: Ebubeagu operative kills colleague over N1,000

Ebonyi: Ebubeagu operative kills colleague over N1,000

January 30, 2023
  • About us
  • Contact us
  • Privacy policy

© 2022 Inside Reports - All Rights Reserved .

No Result
View All Result
  • News
  • Politics
  • Business
  • Sports
    • Football
      • English premier league
      • Laliga
    • Basketball
    • Golf
    • Tennis
  • Politics
  • Education
  • Campus gist
  • Crime
  • Entertainment
    • BBN Update
    • Celebrity gossip
  • Music
  • Video
  • Health
  • Technology
    • Gadget
      • Mobile
  • Investigation & Features
  • Climate & Environment
  • Data Report
  • Jobs
  • Sure betting odds

© 2022 Inside Reports - All Rights Reserved .

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist