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 a scarcity of resources however within the nation’s incapability to transform them into dependable electrical energy, productive industries and broad-based prosperity.

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

Speaking on the theme, “One Energy System: Integrating Oil, Gas and Power for National Transformation,” he mentioned the three segments of the energy trade may now 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 growth delivers better 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 trade.

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, buyers and trade operators.

In his keynote tackle, 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 better coordination amongst African international locations to make sure that energy resources translate into financial growth.

Falade mentioned creating economies shouldn’t be pressured to decide on between financial development and emissions discount, arguing that each targets may very well be pursued collectively.

He pressured the significance of connecting gasoline provide with home demand, efficient fee programs and industrial profitability, noting that these parts have been important for African international locations to derive better financial advantages from their energy resources.

Falade urged stakeholders to judge energy insurance policies and investments primarily based on their capability to create jobs, increase 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 growth with different African international locations, including that better worth may very well 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 worth regulation was scheduled to finish in September 2028, highlighting the necessity for a sustainable pricing construction to help the sector’s growth.

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