- NEITI tasks petroleum regulators and NNPC with enforcing gas flare reduction, emissions disclosure, and investment in clean energy.
- Executive Secretary Orji emphasises coordinated action by key ministries to secure Nigeria’s economic future in a post-oil era.
The Nigeria Extractive Industries Transparency Initiative (NEITI) has urged the Nigerian National Petroleum Company Limited (NNPC), the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), and other key agencies to reduce methane emissions and align petroleum operations with global decarbonisation goals.
Speaking in Abuja at a roundtable on “The Long-Term Impact of Energy Transition on Nigeria’s Economy,” NEITI’s Executive Secretary, Dr Ogbonnaya Orji, said the global shift from fossil fuels to renewables is inevitable and requires foresight, coordination, and deliberate action.
Orji charged the Ministry of Petroleum Resources and NUPRC to enforce flare reduction, compel strict emissions disclosure, regulate divestments under the Petroleum Industry Act, and mandate renewable integration in new petroleum projects.
Furthermore, he challenged NNPC to transform from a traditional oil company into a diversified energy leader. According to him, the national oil company must invest in gas, petrochemicals, renewables, and technologies such as carbon capture and green hydrogen, while building global clean energy partnerships and reinvesting profits in renewable ventures.
Orji also tasked the Ministry of Finance, Budget and National Planning with reengineering Nigeria’s fiscal framework. He said the ministry must mainstream climate finance into budgets, issue green bonds, explore debt-for-climate swaps, and design sustainability-linked instruments to fund the transition.
On electricity, Orji directed the Ministry of Power to expand renewable energy adoption, strengthen grid infrastructure, and support private-sector-led investments in off-grid solar, wind, and hydro projects. “The ministry must ensure that the transition improves lives rather than deepens inequalities,” he said.
In addition, he urged the Ministry of Environment to anchor Nigeria’s climate diplomacy, enforce environmental accountability, track the nation’s carbon inventory, and protect host communities. He further advised the Ministry of Solid Minerals Development to manage mineral resources sustainably and position Nigeria as a global clean energy value chain supplier.
Other stakeholders echoed similar concerns. The Chairman of the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), represented by Prof. Steve Ugbah, warned that the global energy transition poses risks and opportunities for Nigeria. He recommended transition-sensitive revenue rules, a decommissioning fund, diversification grants, and stronger data transparency.
The Fiscal Responsibility Commission (FRC), represented by Mr Chris Nwaduk, pledged to partner with NEITI to uphold transparency and accountability in managing national resources.
Orji concluded by urging coordinated action across government institutions to secure Nigeria’s economic resilience and environmental sustainability in the global energy transition.