Energy Security and Sustainable Development in Nigeria

Synopsis
Energy Security according to the IEA is the reliable and affordable access to energy sources. Access to energy is an important social and economic issue and this has implications on the economic development and environmental needs of any nation. Nigeria’s ability to adopt and implement policies and strategies in the short term and quickly react to the sudden flux in the energy supply and demand to suit the consumption pattern of consumers is critical to sustaining economic development. While the early repositioning for timely investments to supply energy to meet the pace of economic growth, developments and environmental needs is a long-term strategy, the nation’s ability to leverage new technologies to enhance energy efficiency and achieve an acceptable level of energy security with be pivotal to the sustainability journey of the country.

Discussion focus:

  • For a producer economy relying heavily on oil and gas exports, the reduction in oil demand at the onset of the pandemic provided a cautionary vision of the future when consumers increase their consumption rate for other energy sources; what is the current approach to diversification and what policies and implementation strategies will make these succeed.
  • Energy transformation and sustainability is a combination of providing carbon-free energy while making gains in the socio-economic growth, how can Nigeria infuse energy transition at the center of its development strategies.
  • How can Nigeria leverage new technologies to enhance energy efficiency and achieve an acceptable level of energy security?
  • Is energy security achievable while bridging the infrastructural deficit in the country?
  • What are the roles of the energy companies towards achieving energy security?
  • FGN’s Climate Action plans are designed to foster low carbon, high growth economic development path and build a climate resilient Nigeria; is the government matching the plan with effective implementation?

Date: August 3, 2021

Time: 10.00 am WAT