Olu Verheijen, Special Adviser to President Bola Tinubu on Energy, sheds light on the administration’s bold initiatives to revitalize Nigeria’s energy sector, positioning it as the nation’s economic cornerstone. In an exclusive interview with Peter Uzoho, Verheijen discusses the strategies and expected outcomes of these interventions.
Addressing Root Causes
Verheijen highlights the imperative of understanding the underlying issues plaguing the energy sector even before President Tinubu took office. The focus extended beyond crude theft, identifying challenges such as infrastructure integrity and production disruptions due to vandalism.
Efforts were concentrated on major trunk lines, particularly in the East, to ensure the reliability of oil and gas transportation. Collaborative measures involving key stakeholders led to tangible improvements, enhancing production and minimizing disruptions.
Enhancing Gas Supply
Verheijen emphasizes the significance of gas supply optimization, notably benefiting Nigeria LNG (NLNG). With enhanced gas availability, both domestically and for export, there’s a notable increase in revenue generation for the government, driving further investment opportunities.
Despite Nigeria’s vast energy reserves, attracting investment has been challenging. Verheijen identifies the high cost of doing business and lengthy contracting timelines as major deterrents. Efforts are underway to streamline processes and enhance Nigeria’s competitiveness in the global energy market.
Presidential Directives for Urgent Action
Verheijen underscores the importance of President Tinubu’s directives, signaling a sense of urgency in addressing critical issues. These directives aim to create a conducive investment climate, attracting capital and fostering economic growth.
While acknowledging the need for tangible results, Verheijen assures that ongoing initiatives will yield significant outcomes in due course. He emphasizes the multifaceted approach to revitalizing Nigeria’s energy sector, encompassing infrastructure upgrades, policy reforms, and investment facilitation.
Grid and Distribution Challenges
Verheijen elaborates on the challenges facing the power distribution sector, highlighting the need for concerted efforts to modernize infrastructure and enhance grid stability. Presidential initiatives are underway to address transmission and distribution constraints, paving the way for a more robust and efficient energy grid.
Verheijen’s insights underscore the government’s commitment to transforming Nigeria’s energy landscape, fostering economic growth, and improving energy accessibility for all Nigerians. With strategic reforms and targeted interventions, Nigeria’s energy sector is poised for unprecedented growth and prosperity under President Tinubu’s leadership.
Source：thisdaylive.com
