Seplat Energy Plc has supported the continuation of the ongoing reforms and incentives in the energy sector, including the Band A tariff announced in April by the Nigerian Electricity Regulatory Commission.
The Director of New Energy at Seplat Energy, Mr Okechukwu Mba, said this while delivering a keynote address at the ongoing Society of Petroleum Engineers’ 47th Nigeria Annual International Conference & Exhibition in Lagos.
Mba, who represented the Chief Executive Officer of Seplat Energy, Mr Roger Brown, spoke on the theme ‘Petroleum Industry Value Chain Optimisation: The Inevitability of Midstream and Downstream Development’.
Nigeria has been struggling with an insufficient supply of electricity due to a lack of gas to feed the gas-powered plants.
To this end, Mba said the country needed to develop its abundant gas resources and deliver sufficient gas to the power sector for energy security, saying gas is an affordable and reliable source of energy.
He commended the recent incentives and reforms in the energy sector.
“Incentives provided in the recent Executive Orders as well as the recent review of Domestic Gas Delivery Obligation gas prices are commendable.
“Current reforms in the power sector need to be sustained, like tariff increases and bilateral power trading between power generation companies and power distribution companies. Key gas infrastructure like the Obiafu-Obrikom-Oben, the Ajaokuta-Kaduna-Kano gas pipelines, and so on, should be delivered,” he stated.
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