Why Tinubu prioritises energy as key driver of economic growth – FG

The Energy Commission of Nigeria (ECN) has highlighted the importance of energy in President Bola Ahmed Tinubu’s administration, saying it is a crucial element in Nigeria’s economic development.

This was disclosed on Wednesday by the Director-General of ECN, Dr Mustapha Abdullahi, during his presentation titled “Gazetting Nigeria’s Energy Vision” at the ongoing Nigeria Energy Summit being held in Lagos.

The summit, which is organised by stakeholders in the Nigerian energy sector to discuss the nation’s energy future, has its theme as “Breaking Barriers in the New Energy Era: Clean, Reliable and Sustainable”.

“As global energy transformation catalyses economic growth, Nigeria is pivotal. The intersection of energy access, innovation, and our dynamic, youthful population presents a unique opportunity to forge a path toward prosperity, inclusion and global relevance,” Abdullahi said.

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The ECN DG stated that President Tinubu’s Renewed Hope Agenda has a strategic plan to expand energy access and utilise renewable and non-renewable energy resources for sustainable development.

He stressed the importance of a strategic master plan to guide the deployment of Nigeria’s energy resources.

He explained that the recently updated National Energy Policy (NEP) and National Energy Masterplan (NEMP) are the foundation for this vision.

These documents, he said, outline the framework for harnessing Nigeria’s vast energy potential, including both renewable and non-renewable resources.

According to Dr Abdullahi, Nigeria is endowed with significant non-renewable energy resources, including 37.2 billion barrels of crude oil, 2.734 billion tons of coal and lignite, 203.45 trillion cubic feet of natural gas, and 31 billion barrels of oil equivalent in tar sands, as reported by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) in 2019.