Energy giant Shell has underscored the potential for African countries to unlock energy sector growth, enhance energy security, and promote economic prosperity through strategic measures such as partnerships, technological innovation, and sustainable financing. During a ministerial panel session at the 7th Nigerian International Energy Summit in Abuja, Osagie Okunbor, Managing Director of The Shell Petroleum Development Company of Nigeria Ltd (SPDC) and Country Chair of Shell Companies in Nigeria, emphasized the need for a comprehensive approach.
Okunbor, represented by Mrs. Elohor Aiboni, Managing Director of Shell Nigeria Exploration and Production Company Ltd (SNEPCo), highlighted the importance of addressing efficiencies in the development of conventional energy sources abundant in Africa. He emphasized the role of international partnerships in accessing best practices and advanced technologies, citing the Oil and Gas Methane Partnership (OGMP) as an example deployed by SPDC and SNEPCo to monitor and mitigate methane emissions.
Furthermore, Okunbor stressed the significance of sustainable financing mechanisms such as impact investing and public-private partnerships in providing capital for clean energy projects, infrastructure development, and supporting local capabilities. He noted that energy security, transition, and finance are central to the global energy sector’s challenges, emphasizing that secure and affordable access to energy is crucial for economic growth, particularly in emerging economies like those in Africa.
Discussing Shell’s role in Africa’s energy sector, Okunbor highlighted the company’s longstanding presence in countries such as Nigeria, Egypt, Namibia, Ghana, South Africa, and Tunisia. He cited the example of Nigeria, where Shell collaborates with the government and stakeholders to harness gas as a transition fuel, promote local content development, and deploy renewables as off-grid energy sources for households. Okunbor expressed optimism about significant progress and increased collaboration in the energy sector.