1 month ago
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The Chief Executive Officer of Heirs Energies Limited, Osayande Igiehon, has emphasised the need for timely action in leveraging Nigeria’s gas resources to secure the country’s energy future and drive sustainable development.
He also stressed that by fostering strong collaboration between upstream companies and power generation companies, Nigeria could create a seamless value chain that fully unlocks the potential of the country’s natural resources for the prosperity of all Nigerians.
He made this known while speaking at the just-concluded Nigeria Energy Leadership Summit during a plenary session, themed ‘Powering Nigeria’s Future – Leveraging Gas-to-Power Solutions for Energy Security and Sustainable Development’.
According to Igiehon, gas-to-power solutions are not just an option, they are the mainstay of Nigeria’s energy future.
He added that the country is at a critical juncture—a moment where the decisions we make will shape our energy landscape for generations to come.
“Although Nigeria faces persistent energy challenges, we are blessed with abundant natural gas resources. The real question is not whether we have the means to power our nation, but how we can effectively harness these resources to guarantee energy security and foster sustainable development.
“At Heirs Energies, we believe gas-to-power offers the most reliable bridge to a sustainable energy future. While pursuing renewable energy remains essential, the reality is that a stable baseload energy supply is critical—and natural gas provides exactly that.
“It offers a cleaner alternative to coal and diesel, helping us cut carbon emissions while stabilising the national grid,” the Heirs Energies CEO remarked.
He explained that leveraging gas for power generation was imperative, saying it reduced the reliance on imported fuels, strengthened energy security, and fostered a vibrant domestic gas market.
That, he said, would create jobs, attract investments, and spur growth across the entire value chain.
“Most importantly, gas-to-power has the potential to dramatically improve the lives of millions of Nigerians. Reliable electricity is not a luxury—it is a fundamental driver of human development. It powers hospitals, schools, and businesses.
“It is the backbone of industrialisation, innovation, and productivity. In essence, dependable energy supply is the foundation upon which we can build a more prosperous, equitable society,” the Heir Energies CEO said.
Igiehon acknowledged the Nigerian government’s ambitious electricity sector targets for 2030—aiming to provide access to over 90 per cent of the population, with renewable energy projected to account for more than 30 per cent of generation.
He described those goals as challenging but achievable through collaboration and resource optimisation, especially with Nigeria’s natural gas reserves.
“Achieving these targets requires more than just good intentions—it demands unified, decisive action from all stakeholders.
“The Federal Government must provide a stable, transparent regulatory environment to encourage investments in gas production, infrastructure, power generation, transmission, distribution, and metering,” he declared.
He called on the private sector to rise to the occasion by developing innovative solutions and providing capital for essential infrastructure, such as gas processing plants, pipelines, modern power stations, grid upgrades at national and subnational levels, and improvements in distribution networks and meters.
“As industry leaders, we need to collaborate to scale rural electrification through distributed solar, mini-grids, and off-grid technologies. With the potential to unlock $9.2bn annually in solar mini-grid investments, the opportunities are immense.
“However, the challenges are multifaceted—from inadequate infrastructure and regulatory bottlenecks to financing constraints. No single entity can overcome these on its own. Only a strong partnership between the public and private sectors will deliver the results we seek,” Igiehon maintained.
