Dubai, UAE, December 4, 2023: Mele Kyari, the Group Chief Executive Officer (GCEO) of NNPC Ltd., emphasized the need for a “just, differentiated transition” to achieve a sustainable, decarbonized energy future for Africa. Speaking at a Regional CEO Panel organized by McKinsey & Company during the ongoing United Nations Conference on Climate Change (UNCCC), also known as the COP28 Conference, in Dubai on Monday, Kyari highlighted the importance of understanding Africa’s unique circumstances in addressing the impacts of climate change on energy businesses.
Kyari, alongside global energy leaders from the United States, Holland, and Oman, shared perspectives and insights on the evolving energy market. He stressed the significance of recognizing Africa’s peculiarities and advocated for a tailored approach to the energy transition.
“In Africa today, 75% of our population doesn’t have access to electricity, leaving us with biomass as a key energy source. The world needs to recognize that the most practicable thing today is to substitute what we have in the short term to close the energy gap for our rising population,” Kyari stated.
Considering Nigeria’s projected position among the top 10 global economies by 2035 and 3rd in terms of global population by the same year, Kyari emphasized the critical need to address energy poverty while nations work towards achieving net-zero emissions by 2050.
Highlighting Nigeria’s abundant natural gas reserves, projected to rise to 600 trillion cubic feet from the current 206 trillion cubic feet, Kyari noted that the country is utilizing gas to propel its energy transition. NNPC Ltd. is actively working on a regional gas pipeline network to supply natural gas across the African continent and enhance its liquefied natural gas (LNG) exports.
Kyari shared NNPC Ltd.’s commitment to a net-zero future by 2025, citing its recent participation in the United Nations Global Compact in New York, making it the first state-owned oil company to join the global initiative. The company is actively eliminating gas flares and redirecting gas resources toward power plant development to enhance nationwide electricity supply, create job opportunities, and stimulate industrial and economic growth.
