Port Harcourt:Dr. Emeka Okwuosa, Chairman of the Oilserv Group, emphasized the critical role of reliable energy security in driving digital inclusion and industrialization in Nigeria. He called for increased investment to tackle the country’s energy challenges during his presentation at the 22nd International Conference and Exhibition on Power and Telecommunication.
According to News Agency of Nigeria, Okwuosa highlighted that solely replacing fossil fuels with renewable energy is not a feasible solution for Nigeria’s energy security issues. He underscored the need to confront various challenges, including unreliable power supply, grid limitations, and financial constraints.
Citing the International Energy Agency, Okwuosa noted that achieving universal electricity access in sub-Saharan Africa by 2035 would require nearly $150 billion in investment. He stressed that the energy transition should focus on industrialization and digitalization while improving living standards.
Okwuosa explained that Nigeria’s Energy Transition Plan outlines a framework for achieving net-zero emissions by 2060, concentrating on sectors such as power, cooking, and transport. He pointed out that the oil and gas industry could benefit from digital technologies to enhance efficiency and manage gas flaring.
He also discussed the investment opportunities arising from the energy transition, including power generation, renewable energy, and electric vehicle infrastructure. Okwuosa concluded that the energy transition represents significant investment opportunities for the future.
The conference also included the conferment of Fellow of the Institute to Okwuosa and other engineers for their contributions to national development.