Nigeria risks being left behind in the ongoing global energy transition if it fails to strategically monetise its oil and gas reserves.
This was stated by a former President of the Nigerian Economic Society, Prof. Adeola Adenikinju, who advocated a balanced deployment of renewables and conventional energy sources to provide electricity access to the 87 million Nigerians currently without energy security.
Speaking on Monday in Abuja at the 18th NAEE/International Association for Energy Economics Annual International Conference, Adenikinju, in his keynote address, said the global energy landscape has become increasingly complex and volatile, shaped by wars, artificial intelligence, and shifting geopolitical alliances.
The IAEE/NAEE conference, now in its 18th edition, brings together top policymakers, academics, and energy executives to discuss emerging issues in the global and African energy landscape
This year’s theme, “Emerging Geopolitics of Energy: Navigating Global Shifts and Impact on Emerging Countries”, focused on the intersection of global politics, climate policies, and the future of developing economies.
According to him, “The global energy market today is impacted by several layers of interlinked factors, from rising geopolitical tensions and wars to the exponential growth of data centres to support artificial intelligence and the slow pace of energy efficiency growth.
All these have significant implications that ripple across countries and regions.”
