Success Nwogu 
The Association of Energy Correspondents of Nigeria (NAEC) has said Nigeria’s Energy sector was grappling with many challenges that require the quick intervention of the ministers in the sector in order to meet the aspirations of President Bola Tinubu’s “Renew Hope” agenda.
The ministers are the Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo; Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri; and the Power Minister, Adebayo Adelabu.
NAEC congratulated the ministers and described their appointments as cheery, according to it, owing to their antecedents to deliver viable results in their past endeavours.
NAEC Chairman, Olu Philips, in a statement made available to journalists yesterday enjoined the ministers to ensure the revival of the nation’s refineries and conserve the scarce foreign exchange the country is currently using to import products into the country.
He noted that with the rising global energy demand, highly volatile prices, and increasingly stringent environmental regulations, the oil and gas industry faces many challenges, and must ensure reducing costs, optimise the performance of its industrial assets, and improve its environmental footprints.
Philips said, “The Association which is a group of Journalists that report on the energy sector wishes to impress on the ministers on the need for them to walk the talk as regards the implementation of the Petroleum Industry Act (PIA), identify its lapses, and correct same accordingly.
“Also, the association viewed the resuscitation of the moribund refineries as very compelling just as it is important to also facilitate an enabling environment for the construction of new ones.”
He stated that on subsidy removal; there should be a conscious effort to ensure that Nigerians benefit from the purpose for which it was yanked off.
“The downstream sector should be strengthened through promotion of ease of doing business and another viable mechanism, and efforts should be in the top gear to explore salutary means to stop gas flaring.
“Other issues for urgent attention included; fixing appropriate fiscal framework for domestic gas prices, and boosting consumption, including construction of more gas infrastructure.”
He also said that more attention should be paid to boosting autogas, and Compressed Natural Gas consumption, especially now that fuel subsidy is no more.
He added that more gas projects needed to be executed to enable the sector to contribute meaningfully to the country’s economy.
He also harped on the need to also resolve pipeline vandalism, crude oil theft, oil spills in Niger Delta, pollution, insecurity, fuel pricing, Inadequate pipeline Infrastructure, good regulatory framework, attracting more investment deep offshore and others.
According to him, issues that needed to be addressed in the power sector include; an increase in power generation, infrastructure, effective metering of homes, a good tariff system, estimated billing and others.
Philips further assured the ministers that the association was willing to work with the Petroleum and Power Ministries, to ensure the achievement of their set goals.
“NAEC is on standby for any collaboration that will guarantee the success of the ministry’s endeavours as the Ministers of State for Petroleum Resources(Oil) and (Gas) and Power settle down for work.
“It is our hope that by our collaboration, the industry and the supervising Ministry would be a reference point in the minds of Nigerians both at home and abroad,” he said.
