The Federal Government says it would continue to harness its oil reserves and pursue its plans to increase oil output to fill the yawning gap in Africa.

The government noted calls for energy transition were not in the economic interest of Nigeria and Africa where hundreds of millions of people were yet to have access to energy..

Dr Heineken Lokpobiri, Minister of State for Petroleum (Oil),stated this on Tuesday while speaking during the 13th Practical Nigerian Content Forum organized by the Nigerian Content Development and Monitoring Board (NCDMB) in Yenagoa.

Lokponiri explained that no country in the world will stop the production of the fossil fuels when there are still market for it.

Speaking on the theme “Deepening the Next Frontier for Nigerian Content Implementation”, the minister observed that even United Kingdom are still giving licenses for exploration.

He said: “The sustainability of the comfort, all these grammar for energy transition that say we should stop production of fossil fuel, we will never stop the production of fossil fuel in Nigeria, no country in the world will stop it.

“Just 2023, United Kingdom that contributes 4.8% of global emissions, higher than the entire OPEC countries put together, entire African continent put together contribute about 3% but UK contributes 4.8%, but they gave over 100 licenses to new companies for new exploration, America is the highest producer of fossil fuel, so why should we stop, those who are telling us to stop are themselves not stopping, so we should know that is about politics.

“Let me also use the opportunity to challenge the industry that with the emergence of Trump, the price of oil maybe battered, what I want us to do is to increase our own production, Africa already have enough market, we can produce enough fuel to supply West Africa region and the entire Africa, but our biggest challenge has to do with funding.” He said.

Also speaking, the Minister of State for Petroleum (Gas), Obongemen Ekperikpe Ekpo, urged local businesses in the country to invest in Compressed Natural Gas (GNG) as gas will be a mainstay of economy after energy transition.

He said: “Gas will be the mainstay of Nigeria’s energy shift, and we’re giving local businesses a chance to engage in gas distribution, processing and power generation. The probable replacement for PMS has been determined to be natural gas in form of CNG.

“Let me reiterate this administration’s unwavering commitment to advancing local content as a cornerstone of our energy strategy, together, we have the opportunity to built an energy industry that empowers Nigerians, strengthens our economy and contributes to the sustainable future.”

Earlier, the Executive Secretary of the NCDMB, Mr Felix Ogbe, said the board has achieved 56 per cent in Nigerian Content level in 2024 compare to 26 per cent in 2016.

He stated that some of the achievements of the board include; Commissioning of Amal Technologies in Idu, Abuja; and the Kwale Gas Gathering facility in Delta, approval of 312 Nigerian Content Plans, and issuance of 402 Nigerian Content Compliance Certificates (NCCCs) bythe board amongst others.