Seplat Energy Plc plan to spearhead transition from fossil fuels to renewable energy and end gas flaring in 2024 has been endorsed by the Federal Government of Nigeria.
The endorsement came at the second yearly Seplat Energy Summit in Abuja, themed, “Global Trends in Energy Transition: the African Perspective.”
It attracted experts from private and public sectors, including top government functionaries, ministers, governors, members of the National Assembly, royal fathers from Seplat Energy’s host communities, leaders of public and private institutions, investors and heads of shareholders.
Seplat also seized the opportunity of the summit to announce a change of name from Seplat Petroleum to Seplat Energy Plc and unveil its new logo.
The Chairman of Seplat Energy Plc, A.B.C. Orjiako, said the change reflects the company’s belief that the greatest opportunity ahead is to supply the right mix of energy for Nigeria’s rapidly growing population.
In his opening remarks, he unfolded his company’s plan to transit to cleaner energy by ending gas flaring in its operations, six years ahead of government target.
According to him, Seplat Energy will end gas flaring by 2024, and will ensure replacement of firewood in homes with Liquified Petroleum Gas (LPG), a cleaner energy source.
The move, he said, would make sure the environment is protected. He also announced tree-planting initiative, which would commence soon, with the attendant benefits of youth employment and cleaner environment.
“Replacing diesel generators with cleaner renewable energy will definitely solve Nigeria’s power deficit,” he added.
The presentation was greeted by endorsements by ministers, royal fathers and other dignitaries present. The Special Guest of Honour at the summit, Vice President Yemi Osinbajo, represented by Minister of State for Environment, Sharon Ikeazor, underscored the need for policies that must align with energy security, to foster a smooth energy transition across various levels of energy demand.
He also stressed the relevance of the summit, stating: “Over the next decade, every segment in Nigeria will be affected by this shift in energy supply and demands.”
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