Nigeria’s energy challenge goes beyond resources – HBSAN – Daily Trust

The President of the Harvard Business School Association of Nigeria (HBSAN), Collins Onuegbu, has mentioned Nigeria’s energy challenge lies not in an absence of resources however within the nation’s lack of ability to transform them into dependable electrical energy, productive industries and broad-based prosperity.

Onuegbu made the statement on the HBSAN Energy Conference 2026 in Lagos, the place stakeholders examined methods to combine the oil, gasoline and energy sectors to drive nationwide improvement.

Speaking on the theme, “One Energy System: Integrating Oil, Gas and Power for National Transformation,” he mentioned the three segments of the energy business may not be managed in isolation, given their interconnected roles in financial development.

“Oil, gas and power cannot continue to be viewed or managed in isolation; they are interconnected parts of one energy ecosystem,” he mentioned.

According to him, provide constraints, infrastructure gaps and excessive energy prices affecting households and companies underscore the necessity for stronger coordination throughout Nigeria’s energy worth chain.

He mentioned the nation should align its insurance policies, infrastructure, investments and pure resources to make sure that energy improvement delivers larger financial worth.

Onuegbu defined that the convention was designed to look at the institutional coordination, financing preparations and infrastructure required to combine the completely different segments of the energy business.

He added that the discussions would produce an actionable white paper containing precedence suggestions, recognized stakeholders and sensible implementation measures for engagement with authorities, regulators, traders and business operators.

In his keynote handle, titled “From Resource to Prosperity: Unlocking National Growth Through Integrated Energy Systems, Oil, Gas and Power: The African Perspective,” the Managing Director and Chief Executive Officer of Nigeria LNG Limited, Adeleye Falade, known as for larger coordination amongst African nations to make sure that energy resources translate into financial improvement.

Falade mentioned creating economies shouldn’t be compelled to decide on between financial development and emissions discount, arguing that each goals could possibly be pursued collectively.

He confused the significance of connecting gasoline provide with home demand, efficient fee methods and industrial profitability, noting that these components have been important for African nations to derive larger financial advantages from their energy resources.

Falade urged stakeholders to judge energy insurance policies and investments primarily based on their capability to create jobs, develop electrical energy connections and strengthen hyperlinks throughout the energy worth chain.

“Where are the jobs? Where are the connections? Where are the links? And who is responsible for each one?” he requested, urging stakeholders to contemplate these questions earlier than introducing new insurance policies, plans or investments.

He mentioned Nigeria may share its expertise in gasoline improvement with different African nations, including that larger worth could possibly be generated by making current infrastructure and investments extra productive.

Also talking on the convention, the Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, Rabiu Abdullahi Umar, emphasised the significance of making certain that investments within the gasoline sector remained commercially viable.

Umar warned towards imposing extreme prices on gasoline off-takers, noting that pricing preparations should encourage funding whereas making certain affordability for shoppers and companies.

He mentioned the present framework for home gasoline value regulation was scheduled to finish in September 2028, highlighting the necessity for a sustainable pricing construction to assist the sector’s improvement.

The convention additionally featured classes on infrastructure financing, business effectivity and the expansion of indigenous African energy companies.