In a regional CEO panel organised by McKinsey & Company at the United Nations Conference on Climate Change (UNCCC), Mr. Mele Kyari, the Group Chief Executive Officer (GCEO) of NNPC Ltd, emphasised the need for a “just, differentiated transition” in Africa to effectively utilise its resources for the benefit of future generations.
Speaking alongside global energy leaders from the United States, Holland, and Oman, Mr. Kyari highlighted the importance of understanding Africa’s unique circumstances when addressing the impact of climate change on energy businesses. He stressed that a differentiated approach is essential, considering that 75% of Africa’s population lacks access to electricity and relies heavily on biomass as an energy source.
Mr. Kyari emphasised the urgency of closing the energy gap for Africa’s growing population, especially as Nigeria is projected to be among the top 10 global economies by 2035 and the third-largest in terms of population. To achieve net-zero emissions by 2050, he emphasised the need to address the issue of energy poverty.
Nigeria, with its vast natural gas reserves, expected to reach 600 trillion cubic feet, is utilising gas as a driving force for its energy transition. NNPC Ltd., under Mr. Kyari’s leadership, is working on establishing a regional gas pipeline network to supply natural gas across the African continent and increase its Liquefied Natural Gas (LNG) exports.
To further support the transition, NNPC Ltd is committed to eliminating gas flaring in its projects. The captured gas will be directed towards the development of power plants, boosting nationwide electricity supply, creating employment opportunities, and driving the industrial and economic growth of the nation.
In a demonstration of NNPC Ltd’s dedication to a net-zero future by 2025, the company recently became the first state-owned oil company to join the United Nations Global Compact, reinforcing its commitment to sustainable practices.
Mr. Kyari’s call for a just energy transition and his efforts to drive Nigeria’s energy sector towards sustainability have gained recognition at the COP28 Conference. As conversations on finding sustainable solutions for a carbonised energy future continue, his perspective and initiatives are expected to contribute significantly to Africa’s energy landscape and the global fight against climate change.
