Chief Executive Officer, Heirs Energies Limited, Osayande Igiehon, has said that the Nigerian government’s target to provide by 2030, electricity access to over 90% of the nation’s population, with renewable energy projected to account for more than 30% of the nation’s electricity generation, are challenging goals.
He, however, stated that they are achievable if stakeholders work together and leverage all available resources, including the nation’s natural gas reserves.
He emphasized that this potential requires more than just good intentions, adding that it demands concerted action from all stakeholders.
He spoke during the plenary for the Nigeria Energy Leadership Summit in Lagos on Thursday. The Theme was: Powering Nigeria’s Future – Leveraging Gas-to-Power Solutions for Energy Security and Sustainable Development.”
Igiehon said the Government must provide a stable and transparent regulatory environment that encourages investment in gas production and infrastructure; and power generation, transmission, distribution and metering.
He stated that for Gas supply, the 2021 Petroleum Industry Act and the 2024 Presidential Directives provide critical impetus for gas production and transportation.
He also said that the recent Power Sector Reform Bill of 2022 is a step in the right direction, enabling states, private organizations, and individuals to participate in electricity generation, transmission, and distribution.
He said: “The private sector must step up with innovative solutions and capital to upgrade and/or build the necessary infrastructure – from gas processing facilities to pipelines to state-of-the-art power plants, to the needed improvement in grids at all levels – national, state and mini-grids, power distribution networks and modern metering.
“The Rural Electrification Agency estimates that scaling rural electrification through distributed solar generation, mini-grids, and off-grid technology alternatives has the potential to generate $9.2 billion in annual market investments for solar mini-grids alone – so we, as industry leaders, must collaborate like never before.
“The challenges we face are too multifaceted and of such magnitude, that it is only an effective collaboration of the Public and Private sector that can deliver these objectives.”
He said Nigeria is in a tough spot. He noted that the country is blessed with abundant natural gas resources, yet it faces persistent energy challenges.
He reiterated the International Energy Agency report that over 140 million people in Nigeria lack access to energy, representing about 71% of the population.
According to him, the question is not whether we have the means to power our nation, but how we can effectively harness these resources to ensure energy security and drive
Igiehon said: “At Heirs Energies, we believe that gas-to-power solutions are not just an option – they are the mainstay in Nigeria’s energy future. Let me share why: First, gas-to-power offers the most reliable bridge to a more sustainable energy future.
“While we must absolutely pursue renewable energy sources, the reality is that we need always need a reliable base-load energy supply, which gas-based energy solutions provide.
“Natural gas provides a cleaner alternative to coal and diesel, significantly reducing carbon emissions while offering the stability our grid desperately needs.
“Secondly, leveraging our gas resources for power generation is a matter of economic imperative.”
He added: “By utilizing our own natural resources, we reduce our dependence on imported fuels, strengthen our energy security, and create a robust domestic gas market. This, in turn, spurs economic growth, creates jobs, and attracts investment across the entire value chain.
“Thirdly, and perhaps most importantly, gas-to-power solutions have the potential to dramatically improve the lives of millions of Nigerians. Reliable electricity is not a luxury – it’s a fundamental driver of human development. It powers hospitals, schools, and businesses. It is the bedrock of industrialisation, innovation and productivity.
“In short, it is the foundation upon which we can build a more prosperous and equitable society.”
He said that at Heirs Energies, they are committed to playing their part.
He stated that as a strategic supplier of gas to key industries and power plants across Nigeria, they understand the critical role we play in the nation’s energy security.
“But we see our mission as much broader than simply delivering molecules. We are dedicated to meeting Africa’s energy needs in a way that is sustainable, responsible, and transformative.
“This means investing in cutting-edge technologies to minimize flaring and reduce methane emissions. It means working closely with communities to ensure that the benefits of energy development are shared equitably. And it means constantly innovating to find new ways to maximize the value of our natural gas resources for the benefit of all Nigerians.”
He added: “The path forward will not be easy. We face significant challenges – from inadequate infrastructure to regulatory hurdles to financing constraints.
“But I stand before you today with a sense of profound optimism. Because when I look around this room, I see the talent, the expertise, and the determination needed to overcome these obstacles.
“Together, we have the power to write a new chapter in Nigeria’s energy story. A chapter where reliable, affordable, and cleaner energy drives economic growth and improves lives across our nation. A chapter where Nigeria not only meets its own energy needs but becomes a powerhouse of energy exports to the rest of Africa and beyond.
