The Society of Petroleum Engineers (SPE) Nigeria chapter has called on the Federal Government to strike a careful balance between driving economic growth, ensuring national energy security, and aligning with the ongoing global energy transition. Speaking during a recent industry forum, SPE Nigeria emphasized the urgent need for Nigeria to adopt pragmatic policies that support both the country’s developmental goals and its commitments to environmental sustainability.
Addressing KIIN360, the SPE leadership highlighted that Nigeria’s economy remains heavily dependent on the oil and gas sector, which contributes significantly to government revenue and employment. However, they warned that navigating the global shift towards renewable energy sources requires a strategic approach that does not compromise domestic energy availability or economic stability.
“The energy transition presents both challenges and opportunities for Nigeria,” an SPE official explained. “While embracing cleaner energy is necessary to meet global climate targets, we must also ensure that our energy policies safeguard access to reliable and affordable energy to power industries, homes, and critical infrastructure.”
The group advocated for increased investments in natural gas infrastructure as a transitional fuel, alongside the development of renewable energy projects such as solar and wind, to diversify Nigeria’s energy mix. They also stressed the importance of fostering innovation and technology adoption within the local oil and gas industry to improve efficiency and reduce carbon emissions.
SPE Nigeria urged the government to provide clear regulatory frameworks and incentives that encourage private sector participation in both traditional and renewable energy sectors. According to them, a coordinated policy environment would enhance investor confidence and accelerate Nigeria’s energy evolution without risking economic disruptions.
The call from SPE comes as Nigeria seeks to meet its Nationally Determined Contributions (NDCs) under the Paris Agreement, while also addressing energy poverty and infrastructure deficits that have hindered industrial growth. Industry experts warn that abrupt shifts away from fossil fuels could trigger job losses and energy shortages unless managed carefully.
As the global energy landscape rapidly evolves, SPE Nigeria’s message to policymakers is clear: the path forward must integrate economic imperatives with sustainable energy development, ensuring that Nigeria remains competitive and resilient in the face of changing international dynamics.
