By Odutayo Ruth
LAGOS -Experts and stakeholders in Nigeria’s energy and extractive industries have called for stronger collaboration, increased investment and broad regulatory reforms to accelerate the country’s decarbonization efforts.
The call was made at the fifth edition of the Oriental News Nigeria Conference, held on Thursday at the Radisson Blu Hotel, Ikeja GRA, Lagos, with the theme, “Carbon Capture: Accelerating the Decarbonization Initiatives in Nigeria’s Extractives Industry through Broad Regulatory Reforms.”
The conference brought together government representatives, industry leaders, energy experts and other stakeholders to discuss sustainable energy development, carbon reduction, climate action and the role of regulatory reforms in Nigeria’s energy transition.
In her opening remarks, the convener and Publisher of Oriental News Nigeria, Mrs. Yemisi Izuora, called for greater collaboration among stakeholders to achieve sustainable decarbonization in the extractive sector.
Izuora said the conference provided an opportunity for stakeholders to exchange ideas on carbon reduction, regulatory reforms, investment and sustainable industry practices.
She said, “Together we can achieve, as we are all here to learn and contribute towards making our country better.”
Former Minister of Information and Culture, Chief Lai Mohammed, called for stronger partnerships among government, industries, investors and regulators to accelerate Nigeria’s transition to a low-carbon economy.
Mohammed identified inadequate financing as one of the major challenges to expanding clean energy infrastructure in Africa, urging stakeholders to explore green financing, carbon markets and long-term investment frameworks.
“Financing remains one of the greatest barriers to scaling clean energy infrastructure across Africa,” he said.
He also stressed the importance of clear regulations and supportive policies, noting that sustainability had become more than a compliance requirement.
“Sustainability is no longer simply about compliance. It has become a competitive advantage and the measure of corporate leadership,” Mohammed said.
Chairman of the occasion and Associate Professor of Management Communication at Lagos Business School, Professor Silk Ogbu, urged stakeholders to move beyond discussions and commitments to practical solutions that address environmental challenges.
Reflecting on the five-year journey of the conference, Ogbu described it as an unfolding story, with each edition representing another chapter in the conversation on sustainability and climate responsibility.
He said, “Capture invisible things before they escape,” while encouraging stakeholders to develop measurable strategies and implement practical solutions to environmental challenges.
The Rural Electrification Agency (REA) also advocated an inclusive approach to Nigeria’s decarbonization journey, stressing that climate action must go hand in hand with energy access, economic growth and industrial development.
The position was contained in a keynote address delivered on behalf of the Managing Director and Chief Executive Officer of REA, Dr. Abba Abubakar Aliyu, by Gboyega Ayoade.
The agency highlighted its renewable energy initiatives, including mini-grids and captive power projects under the Energizing Education Programme, as part of efforts to expand access to clean electricity and reduce dependence on diesel.
According to the agency, “The challenge is not simply to reduce emissions, but to expand energy access, grow the economy, industrialize, and reduce emissions at the same time.”
Speaking on behalf of the Group Managing Director of Sahara Group, Engr. Kola Adeshina, Engr. Leiste Aihevba stressed the need for increased investment and practical financing mechanisms to support Nigeria’s sustainability goals.
Aihevba noted that the extractive industry must now move beyond resource extraction and contribute to environmental restoration.
“For 70 years, the extractive industry has focused on taking things from the ground. Now, the world requires us to learn how to put something back,” he said.
He added that ambitious climate targets must be matched with adequate funding, declaring, “Green ambition without green money is merely a lovely speech.”
The conference ended with a renewed call for stakeholders to translate climate commitments into measurable action through effective policies, sustainable financing, technological innovation and stronger collaboration.
