TheCable

Timipre Sylva, minister of state for petroleum resources, has emphasised the government’s commitment towards achieving its net-zero emission targets by 2060.

Sylva said this on Thursday at the 7th meeting of the national council on hydrocarbons in Minna.

Sylva was represented at the event by Gabriel Aduda, permanent secretary, ministry of petroleum resources.

He said Nigeria had commenced the “mitigation and adaptation” of proactive measures towards achieving its net-zero emission targets by 2060.

He said the 7th national council of hydrocarbons came when global efforts are geared towards achieving net-zero gas emissions.

According to him, the recently concluded UN Climate Conference (COP27) held in Egypt offered another opportunity for Nigeria to identify opportunities for cooperation and collaboration with other countries and international organisations to accelerate net-zero emissions targets.

The minister said Nigeria, as a major oil-producing country, is not only committed to net zero by 2060 and its energy transition plan but was among the first 50 to have launched its guidelines for the management of fugitive methane and greenhouse gases emissions in the upstream oil and gas sector.

He added that this was expected to be gazetted by Q1 of 2023, and the Nigeria Upstream Petroleum Regulatory Commission (NUPRC) would forward to all stakeholders a six-month compliance directive to reduce emission footprints and increase its air quality.

As a member of the African Petroleum Producers Organisation, the minister said that Nigeria remained committed to working and supporting other member countries who desire to develop their methane management guidelines and fostering cooperation and collaboration for cleaner processing of fossil fuels.

“Oil and gas are a major development resource for Africa and will be for a long time to come,” Sylva said.

“We are, however, putting measures in place to ensure cleaner processes and processing to mitigate the impact of methane and greenhouse gases.”

The minister said the country, through the solid minerals development fund, was on the verge of unveiling a cutting-edge technology in gold mining.

He said to this end, the federal government had received 34 memoranda of understanding (MoUs), merging seven and 11 stepped down, adding that the memos had been presented to the council for consideration.

He applauded Niger state for its large quantity of solid mineral resources and hydrocarbon deposits in commercial quantities.

Sylva added that Nigeria required $410 billion by 2060 to address challenges and policy flexibility in the energy sector.