By Prosper Okoye
Africa must turn its vast natural gas resources into an engine of industrialisation to create jobs, drive economic growth and strengthen energy security, Charles Esimone, vice-chancellor of Transatlantic University of Medicine and Health Sciences, said on Wednesday.
Speaking at the third annual EMOGAS International Natural Gas-Based Industry Conference and Exhibition in Abuja, Esimone said the continent had continued to struggle to translate its gas wealth into sustained industrial development and broad-based economic prosperity.
He said Africa needed to move beyond measuring the size of its gas reserves to focus on developing the resources responsibly, attracting investment and expanding its participation in global energy markets.
“The more important questions are how do we develop these resources responsibly? How do we create stronger producer partnerships? How do we attract and sustain investment?” Esimone said.
The conference, themed “Accelerating Africa’s Global LNG Trade Share and Driving Gas Industrialisation Through Innovative and Strategic Upstream Petroleum and Gas Producer Synergies and Investment Decisions,” seeks to explore ways of unlocking the continent’s gas potential through investment and collaboration.
Esimone, who is also pro-chancellor of European University, said governments, industry, academia and entrepreneurs needed to work together to transform natural gas resources into commercially viable products and services.
He said governments must provide an enabling policy and regulatory environment, while industry players should bring the capital, technology and operational expertise required to develop the sector.
Esimone said Africa’s ability to translate its gas wealth into industrial growth would depend not only on the resources available but also on how effectively the continent harnessed innovation.
He urged African countries not to remain consumers of emerging technologies such as artificial intelligence, advanced data analytics, digital twins and automation, but to develop and commercialise solutions suited to their industrial needs.
He also called for greater investment in human capital and stronger partnerships among universities, research institutions, governments and industry to give African engineers, scientists and entrepreneurs a more active role in the energy value chain.
The conference is also examining liquefied natural gas trade, investment partnerships, natural gas utilisation and monetisation, energy security, and the application of advanced technologies to protect critical gas infrastructure.
Emeka Okafor, founder of Emogas Limited, the conference organiser, said Nigeria needed stronger collaboration among government, industry, investors and indigenous businesses to convert its gas resources into industrial growth, jobs and wider economic opportunities.
“Nigerians have no business being poor,” Okafor said, arguing that the country needed to move beyond resource extraction to develop domestic industries, strengthen indigenous technology and expand local participation across the gas value chain.
He urged the government to create a favourable investment environment and ensure that projects were awarded on merit rather than through political connections.
Okafor warned that patronage could result in poorly executed projects, waste of resources and investments that failed to deliver their intended benefits.
He also urged industry leaders to strengthen partnerships and pursue commercially viable projects, while encouraging investors to take a long-term view of opportunities in the gas sector.
Okafor called on technology companies and entrepreneurs to develop solutions suited to African markets and urged researchers to work more closely with industry to turn research findings into practical innovations.
Ozimede Suleiman, general manager of the Midstream Monitoring Division at the Nigerian Content Development and Monitoring Board (NCDMB), said the agency was using its financing programmes to help Nigerian businesses overcome funding constraints and expand their participation in the gas value chain.
Suleiman, who represented the NCDMB Executive Secretary, Felix Ogbe, at the conference, said the board could take equity stakes in emerging Nigerian gas companies and appoint representatives to their boards to monitor investments and ensure returns.
He also highlighted the Nigerian Content Intervention Fund (NCIF), which provides financing support to companies seeking to refinance high-interest loans, ease financial pressures and improve cash flow.
He said the intervention helped address financing constraints that had limited indigenous companies’ access to commercial bank loans.
Under the Nigerian Oil and Gas Industry Content Development Act, companies seeking to operate in Nigeria’s oil and gas industry must submit Nigerian content plans detailing how local businesses would participate in their operations, Suleiman said.
He added that the board reviewed the plans before issuing the relevant certificates.
Suleiman urged Nigerians to explore opportunities across the gas value chain as the global energy transition evolved, identifying compressed natural gas and other gas-related businesses as areas where indigenous companies could expand their participation.
He said the NCDMB would continue to promote the implementation of the Act to widen opportunities for Nigerian businesses and strengthen local participation in the oil and gas industry.
