Nigeria’s oil reserves of 37.5 billion barrels and 209.26 trillion cubic feet of natural gas are expected to fuel the nation’s energy needs for the next 70 and 90 years, respectively, according to Gbenga Komolafe, Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).

At the Decarbonisation and Energy Sustainability Forum in Abuja, Komolafe stressed the importance of balancing energy security, economic growth, and environmental sustainability as the world shifts toward a low-carbon future.

He called for a collaborative effort in navigating this global energy transition while ensuring long-term sustainability.

Komolafe also highlighted Nigeria’s commitment to decarbonization through key initiatives like the Petroleum Industry Act, National Gas Expansion Programme, and Decade of Gas Initiative.

He noted that Nigeria aims to leverage its vast hydrocarbon resources while embracing decarbonization to stay competitive on the global stage.