" ITREALMS: transition
Showing posts with label transition. Show all posts
Showing posts with label transition. Show all posts

Saturday, December 20, 2025

Leadership transition @NLNG: Mshelbila out, Falade matching in - ITREALMS

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​Nigeria LNG Limited is set to enter a new chapter following the appointment of Engr. Adeleye Falade as its incoming Managing Director and Chief Executive Officer, reports ITREALMS.

Leadership transition @NLNG: Mshelbila out, Falade matching in - ITREALMS

Currently at the helm of Brunei LNG, Falade will officially take over the leadership mantle in April 2026. 

Monday, July 28, 2025

Gas Grid: NLNG, Geometric Power lead energy transition push - ITREALMS

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Leading figures and industry experts from Nigeria's oil, gas, and power sectors converged in Lagos on Thursday, July 24, at the 4th Oriental News conference, to advocate for a more strategic and efficient utilization of the nation's extensive gas reserves, reports ITREALMS. 

Gas Grid: NLNG, Geometric Power lead energy transition push - ITREALMS
The consensus among the experts was that Nigeria's gas wealth is an indispensable asset for achieving an affordable and sustainable energy transition.

The conference, themed "Integrating Nigeria's Gas Potentials into Strategic Energy Transition Initiatives," featured insightful discussions on navigating the complexities of energy transformation while leveraging Nigeria's unique resources.

Temitope Ogedengbe, Manager, Energy Transition at Nigeria LNG (NLNG), cautioned against a "copy-paste" approach to energy transition, emphasizing the critical need for Nigeria to develop a strategy that genuinely reflects its local realities. 

"Our transition must leverage our unique strengths and resources to grow our economy," Ogedengbe stated, asserting that the country's energy strategy must prioritize economic growth, energy security, and national development.

Ogedengbe highlighted persistent challenges in gas utilization, lamenting that despite Nigeria's vast natural gas resources, a substantial portion is still flared or reinjected due to the absence of viable commercial arrangements.

 "We’re not taking nearly the amount we should be. We are still flaring and reinjecting because there is no commercial arrangement to optimize this; for many reasons," he explained.

He acknowledged the potential of marginal fields but noted their economic production difficulties, while commending the Nigerian Upstream Petroleum Regulatory Commission’s (NUPRC) Gas Flaring Commercialisation Programme for attempting to address this issue. 

Ogedengbe further pointed out that a significant volume of Nigeria’s gas is still either exported or flared, with domestic utilization and value addition remaining underdeveloped. 

"We are not investing enough, and we are not examining the right approaches," he added.

Discussing the global LNG market, Ogedengbe confirmed that a market still exists for Nigerian LNG, but noted a shifting demand, particularly in Europe, where buyers increasingly favor lower-carbon LNG options. 

He stressed the importance of using operational levers to reduce carbon emissions, attract premium markets, and unlock funding opportunities through reduced taxes and levies. 

NLNG, he revealed, remains central to Nigeria’s gas future, with plans to expand its capacity to 30 million tonnes per annum. As part of its energy transition strategy, NLNG is integrating technologies and processes to reduce emissions and generate carbon credits, employing offsets to reduce emissions both nationally and internationally. 

Ogedengbe concluded by underscoring the necessity of a multi-pronged, well-coordinated approach to decarbonizing the country’s gas sector for long-term viability and global competitiveness.

Gas Shortage and Infrastructure Deficit Hinder Power Sector

Also speaking at the conference, former Minister of Power, Prof. Bart Nnaji, asserted that a chronic shortage of gas supply and significant infrastructure deficits continue to deter investment and impede the growth of Nigeria's power sector. Nnaji projected that gas-fired plants will dominate the country's power generation for the next two decades.

He attributed Nigeria’s persistent gas shortages to insufficient investment in gas infrastructure, calling for enhanced support from both government and the private sector. 

Chairing the event, Nnaji addressed stakeholders across the oil and gas value chain, including key government officials, highlighting the underdeveloped state of the country’s gas sector due to inadequate investment in extraction, transmission, and transportation.

"The focus should not rest solely on government-led efforts; the private sector must also play a vital role," the former minister emphasized. 
Gas Grid: NLNG, Geometric Power lead energy transition push - ITREALMS
He urged the government to act as a true enabler, providing necessary support for infrastructure and gas harvesting, decrying "It’s baffling that with over 210 trillion cubic feet of gas, we still face local shortages. We’re unable to produce sufficient quantities to support operations across the country." 

He noted improvements in operations this year but acknowledged past under-capacity, while also mentioning the ongoing development of a seventh train for gas production.

Nnaji drew a parallel with Nigeria’s historical abandonment of coal mining, reflecting a broader pattern of resource neglect. He reiterated the critical role of gas-fired plants in Nigeria’s power generation, stressing the need for a reliable supply to ensure thermal plants operate effectively. 

He cited Geometric Power Ltd, which he chairs, as one of the companies generating electricity through thermal sources. While acknowledging the role of renewable energy in rural electrification, Nnaji maintained that Nigeria’s baseload power must continue to come from gas or hydro sources, noting the limitations of hydropower that necessitate regional cooperation.

Engr. Chichi Emenike, Acting Managing Director and Gas Asset Manager of Neconde Energy Limited, raised alarm over the detrimental consequences of certain government policies on the ongoing energy transition. 

She stated that unpaid gas supplies, dollarized operations, and policy inconsistencies are actively discouraging investment in the sector.

Emenike revealed that Neconde, for example, has produced and supplied gas to electricity generation companies (GenCos) for nearly two years without payment. 

"This is a serious conundrum, whereas we have sourced funds from somewhere to produce these gas molecules from our facilities. How am I going to pay back?” she questioned.

She further elaborated that Nigeria’s upstream gas production is heavily dollarized, making it costlier and more complex to sustain than crude oil development without a commercially viable framework. 

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"Don’t forget that the gas production industry is highly dollarized, including the requisite inputs. There is no part of the operation, including the technology, that is produced locally. The bulk of it has to be imported in US$," Emenike explained, detailing that drilling a gas well and its associated operations are all dollarized, making it more expensive than a crude oil well.

Addressing systemic issues within the gas-to-power value chain, Engr. Emenike highlighted the substantial cost of transporting over 500 million standard cubic feet (scf) of gas via the NGIC pipeline, estimating it to be over $500 million.

Regarding the financing and investment environment, Emenike called for a pragmatic national energy plan focused on achievable goals rather than lofty ambitions. "Let us start with what is doable; I mean the low-hanging fruit. Let us stop with big numbers. We should tidy up small fields that are struggling to juggle both CAPEX and OPEX," she urged. 

She pressed for urgent clarity on Nigeria’s stance on the energy transition and a realistic approach to funding. "Where do we sit as Nigerians today on this energy transition plan? Where is the money to run the transition?" she queried, warning that gas investors might choose other nations like Mozambique if Nigeria fails to establish a clear strategy.

Emenike further cautioned about the economic risks stemming from policy instability. "Gas economics is such that it must be end-to-end. Even before you draw down the first financing, you have tied that investment to a commercial arrangement," she stated, lamenting that "policy flip-flops and multiplicities of levies and fees" in Nigeria often derail investor's projected returns.

She insisted on regulatory reforms and an end to what she described as "rent-seeking behavior" by government agencies. "We have to deal with the rent-seeking attitude of our regulators to enable investors repatriate their investment financing," she said, criticizing agencies for imposing regulations and then levying fines for non-conformity, even when they create the crisis themselves.

Calling for collaborative efforts, Emenike advocated for infrastructure sharing and coordination within the value chain. "We need to leverage infrastructure to unlock the stranded assets across the country... We need to set the rules of the game," she emphasized, stressing the importance of investor confidence and a market-driven approach. 

"Every investor wants to see a clear line of sight. Market forces should be allowed to play out. The government should not create a monopolistic environment that stifles investment." She strongly advised against government involvement in business, urging them to cease short-term rent-seeking.

Emenike concluded by challenging the Federal Government to adopt an inward-looking, "selfish Nigerian plan" that prioritizes national interests, starting with smaller gas fields. She also urged the government to stop imposing benchmarks on gas for power, allowing market forces to dictate prices, and fostering flexibility and alliances among value chain operators.

Friday, July 12, 2024

OrientalNews Summit'24: Muda Yusuf tackles Nigeria's path to green economy transition - ITREALMS

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The Chief Executive Officer (CEO) of the Center for the Promotion of Private Enterprise (CPPE), Dr. Muda Yusuf, would drive discussion on Nigeria's policy direction to establishing pathway towards economic recovery in line with global green economy initiative.
OrientalNews Summit'24: Muda Yusuf tackles Nigeria's path to green economy transition - ITREALMS
Yusuf, a renowned economist and former Director General, DG, of the Lagos Chamber of Commerce and Industry, LCCI, is the chairman of the 3rd National Conference being put together by Oriental News Nigeria, coming up on July 25th, 2024, at Radisson Blue GRA Ikeja, Lagos by 9am.

Tuesday, March 19, 2024

Kyari calls for differentiated energy transition for Africa - ITREALMS

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As global calls for transition to cleaner energy fuels continue to grow, the Group Chief Executive Officer of Nigerian National Petroleum Company Limited (NNPC) Ltd. Mr. Mele Kyari has advocated for a differentiated approach to attaining energy transition for the African continent.
Kyari calls for differentiated energy transition for Africa - ITREALMS
Kyari, who also said the Final Investment Decision (FID) on the Nigeria Morocco Gas Pipeline (NMGP) Project will be taken in December 2024, made the call while speaking during a Leadership Dialogue Session at the ongoing CERAWeek Conference in Houston, United States, on Tuesday.

Tuesday, December 05, 2023

COP 28: Kyari demands 'Just energy transition for Africa' - ITREALMS

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Finding sustainable solutions for a decarbonized energy future has continued to top global agenda, as the Group Chief Executive Officer (GCEO), NNPC Ltd., Mr. Mele Kyari has said the African Continent needs “a just, differentiated transition” to enable it to harness its resources for today for the benefit of its future generations.
COP 28: Kyari demands 'Just energy transition for Africa' - ITREALMS
The GCEO made this known while speaking at a Regional CEO Panel organised by McKinsey & Company on the sidelines of the ongoing United Nations Conference on Climate Change (UNCCC), also known as the COP28 Conference, in Dubai, UAE, on Monday.

Tuesday, August 15, 2023

Electric Vehicles critical technologies for clean energy transition says Marisa Lago - ITREALMS

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The Electric Vehicles (EVs) have been described as critical technologies capable of facilitating clean energy transition the world is yearning for, reports 
ITREALMS.
Electric Vehicles critical technologies for clean energy transition says Marisa Lago - ITREALMS
Speaking at the Microsoft Garage Electric Vehicle Hackathon in Lagos, the United States (US) Under Secretary of Commerce for International Trade, Marisa Lago on Monday, also said that Electric Vehicles could create new economy jobs.

Monday, June 19, 2023

Energy financing: OPEC partners IRENA to accelerate transition - ITREALMS

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The Vienna-based OPEC Fund for International Development (OPEC Fund) has signed an agreement with the International Renewable Energy Agency (IRENA) to join the Energy Transition Accelerator Financing (ETAF) platform, reports ITREALMS.
Energy financing: OPEC partners IRENA to accelerate transition - ITREALMS
The ETAF platform is a global initiative that seeks to mobilise funds for renewable energy investments. The OPEC Fund plans to support the platform with up to USD 250 million financing until 2030 to finance renewable energy solutions in its partner countries.

Thursday, June 15, 2023

Leadership and FirstBank's successful transition to 'click' banking - ITREALMS

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In December 2015, the share price of First Bank of Nigeria Limited was trading around N4.8 band. About seven years later, precisely last December, the value held tightly to N15, growing by over threefold amid general asset and economic doldrums.
Leadership and FirstBank's successful transition to 'click' banking - ITREALMS
The steep rise in the valuation of the financial institution deviates remarkably from the average performance of FUGAZ, an acronym describing the top five Nigerian banks by market capitalisation. In the past seven years, the share prices of the leading banks appreciated by an average of 90 per cent as against over 200 per cent growth seen in FirstBank.

Tuesday, May 16, 2023

IRENA launches report @G20 on low-cost energy transition finance - ITREALMS

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IRENA launches report @G20 on low-cost energy transition finance - ITREALMS
The International Renewable Energy Agency (IRENA) in partnership with the Indian G20 Presidency, launched a comprehensive report today on how low-cost finance can accelerate the energy transition. 

Monday, January 14, 2019

Nigeria at risk of energy transition says IRENA - ITREALMS

Nigeria is at risk of impact of the energy transition expected to reduce the fossil fuel imports, reports ITREALMS.

This was contained in the latest study released by the International Renewable Energy Agency (IRENA) via the Global Commission on the Geopolitics of Energy Transformation and made available to 
ITREALMS.

According to the study entitled ‘A New World’ suggested that the geopolitical and socio-economic consequences of a new energy age may be as profound as those which accompanied the shift from biomass to fossil fuels two centuries ago.

Precisely on the regional impact of the energy transition, IRENA noted that the majority of countries in Sub-Saharan Africa (SSA) will benefit from reducing fossil fuel imports and generating renewable energy domestically, because this will boost job creation and economic growth.

However, they predicted exceptions to this are Nigeria and Angola, which are the two biggest oil producers in the region.

As said by the study endorsed by IRENA chair, and the former President of Iceland, Mr. Olafur Grimsson, Nigeria and Angola, are at risk because they depend heavily on fossil fuel rents.

“Because of their size and large fossil fuel exports, they skew the data for SSA as a region,” the study revealed.
ITREALMS gathered that in the long-term, however, African countries have a unique opportunity to leapfrog the fossil fuel-centred development model despite recent discoveries of oil and gas.

Conversely, the study pointed out that “Small Island Developing States (SIDS) will benefit most of all if they adopt renewable energy sources rather than fossil fuels.”

Stressing that the import of fossil fuels now amounts to some 8 per cent of their Gross Domestic Product (GDP).

“Many SIDS are also extremely vulnerable to the effects of climate change. SIDS possesses ample renewable energy sources and renewable technologies can meet most of their domestic energy needs.

“The shift would cut import bills, promote sustainable development, and increase their resilience.

“International cooperation to support SIDS’ renewable energy ambitions are growing substantially and 13 SIDS have established 60-100 per cent renewable electricity targets.

Nenye Dom/Editor

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Saturday, October 01, 2016

IANA transition success: ICANN says ‘Thank you’ to multistakeholder community

The Internet Corporation for Assigned Names and Numbers (ICANN) has commended its multistakeholder community for a successful transition plan which got global endorsement by September 30, 2016, reports ITRealms.

In an official blog by ICANN chairman, Dr. Steve Crocker the journey of two and a half years to develop a globally agreed plan to transition the United States’ Department of Commerce, National Telecommunications and Information Administration’s (NTIA) stewardship of the Internet Assigned Numbers Authority (IANA) functions to the global Internet community have been largely successful.

ITRealms reports that the process signaled the historic final step in transitioning the coordination and management of the Internet’s unique identifiers to the private-sector that began with the formation of ICANN in 1998.

ICANN said, the process to develop the package of transition proposals embodied the spirit of the Internet itself namely global, diverse and inclusive. Stressing that people from different economic sectors, cultures, interests and backgrounds worked together to develop two consensus proposals that ensure the continued stable and secure operation of the IANA services and an enhanced accountability for ICANN.

According to Crocker, one of the proposals focused on ICANN’s transparency and accountability. While the other focused on arrangements with the three operational communities, the Regional Internet Registries for numbers, the Internet Engineering Task Force for protocol parameters, and the top-level domain registries for names.

The proposal development process, ICANN said, reflected the community’s dedication and commitment to achieving this historic final step.

“The community spent hundreds of hours in calls and meetings and exchanged tens of thousands of emails exploring and discussing complex governance issues, debating different views, and eventually finding consensus,” part of the ICANN blog said.

This process, ICANN further said, tested and strengthened the trust in and across the ICANN community, and is a good demonstration of global multistakeholder policy development working.

“The resulting package of proposals has broad support because it reflects the community’s work, and preserves the existing multistakeholder system while laying the foundation for a more accountable and equitable balance within the ICANN ecosystem,” ICANN said.

Further, ICANN emphasized that as at September 30, 2016, after months of preparation and implementation of the community’s tasks, ICANN’s contract with NTIA expired, resulting in the coordination and management of the Internet’s unique identifiers is now privatized and in the hands of the volunteer-based multistakeholder community.

“The transition will help to ensure the continuation of a single, open Internet that users around the world can rely on for years to come. I am honored to be ICANN’s Chairman of the board during this historic process,” Dr Crocker enthused.

In addition, he said, that the operational mechanisms and enhanced accountability frameworks outlined in the proposals are enshrined in ICANN’s new Bylaws, which are now in effect.

“The ICANN community, board and organization will now move forward together as a more accountable and transparent body. These changes, while vitally important for the relationships and management of ICANN, will have no visible effect on the operation of the Internet. The very large ecosystem of Internet System Providers (ISPs), content providers and users will continue to function without change,” he said.

Crocker expressed appreciation to ICANN communities for their works throughout this process.

“I look forward to our ongoing collaboration on further accountability and transparency enhancements in Work Stream 2 of the Cross Community Working Group on Enhancing ICANN Accountability, and everything else yet to come,” he submitted.

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*Pix: Dr Steve Crocker

Wednesday, September 21, 2016

Donald Trump goes to the Internet, opposes IANA transition

The Republican Presidential candidate in the forthcoming United States election, Mr. Donald Trump has taken his politricks into the Internet space by vehemently opposing the already on course transition of the Internet Assigned Numbers Authority (IANA) plans, reports ITRealms.

IANA, ITRealms gathered is responsible for the global coordination of the Domain Name System (DNS) Root, Internet Protocol (IP) addressing, and other Internet protocol resources.

According to the National Policy Director of Trump+Pence Campaign Organisation, Mr. Stephen Miller, the opposition of IANA transition is seen by Mr. Trump as surrendering American Internet control to foreign powers.

He also said in a official press statement made available to ITRealms that Donald J. Trump is committed to preserving Internet freedom for the American people and citizens all over the world.

“The U.S. should not turn control of the Internet over to the United Nations and the international community,” he declared, and alleged President Barrack Obama intension to do so on his own authority.

“Just 10 days from now, on October 1st, unless Congress acts quickly to stop him,” Trump alleged.

The Republicans in Congress, he said, are admirably leading a fight to save the Internet this week, and need all the help the American people could give them to be successful.

Trump also blamed Hillary Clinton’s Democrats, saying they refused to protect the American people by not protecting the Internet.

For him, the United States created, developed and expanded the Internet across the globe, stressing that U.S. oversight was what kept the Internet free and open without government censorship.

“A fundamental American value rooted in our Constitution’s Free Speech clause,” he declared.

Trump further alleged that the Internet freedom is now at risk with the President’s intent to cede control to international interests, including countries like China and Russia, which have a long track record of trying to impose online censorship.

“Congress needs to act, or Internet freedom will be lost for good, since there will be no way to make it great again once it is lost," he said.

Nenye Dom/GEE 
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