Nigeria must sustain the momentum of reform, accelerate investment, and deepen partnership to secure a bright energy for her teeming population, Managing Director Shell Nigeria Exploration and Production Company of Nigeria Limited (SNEPCo) Ronald Adams said in Lagos at the weekend.
Delivering a keynote address at the Africa Energy Conference of the Lagos Business School, Adams called for regulatory certainty through efficient execution of reforms, sustained investment appeal to enable projects to move more swiftly from opportunity to production and partnership by operators, regulators, NNPC Limited and communities to unlock the full value of Nigeria’s resources.
Adams cited Nigeria’s huge oil and gas resources as an advantage but pointed out: “Resources alone do not guarantee prosperity. Prosperity comes when resources are matched with investment, technology, sound policy and disciplined execution. Success will be determined not by the size of our resources, but by our ability to convert them into investment and economic growth.”
Adams pledged the support of Shell towards a bright energy future of Nigerians. He said: “For more than six decades, Shell has been part of Nigeria’s energy journey. Together with our partners, we have helped develop major energy infrastructure, supported Nigerian businesses, invested in talent, and contributed to economic development. Bonga remains a powerful example of what technology, partnership and Nigerian capability can achieve in deepwater operations. Today, that story continues through Bonga North.”
Issuing a clarion call for action by all stakeholders, he added: “The world is not standing still. Capital is moving, technology is advancing and competition is intensifying. The countries that attract investment tomorrow are those that improve competitiveness today. Nigeria has begun that journey. Our task is to sustain the momentum and translate reform into projects, projects into growth, and growth into shared prosperity.”
The conference, the 4th in the series had at its theme; “Securing Nigeria’s Energy Future: Policy Reform, Capital Mobilisation, and Pathways to a Sustainable Power and Energy Market” and was attended by top government officials, industry captains, energy professionals, and students. Lagos State Deputy Governor Obafemi Hamzat represented Lagos State Governor Babajide Sanwo-Olu as the guest of honour. SNEPCo was a principal sponsor of the Africa Energy Conference and mounted a well-received exhibition on its deepwater operations and social investments across Nigeria.