Nigeria must deepen investment in renewable energy – SPE

The Chairman, Society of Petroleum Engineers (SPE) – Nigeria, Mr Chikezie Nwosu, yesterday emphasised the need for the country to deepen investments in renewable energy in view of the threat to global demand for oil, Independent reports.

He spoke at the pre-event press briefing of the SPE Annual Oloibiri Lecture Series in Lagos where he said, with anticipated growth in energy demand, the world is rapidly moving towards an age of cleaner sources of energy. He explained that for fossil fuels, this will mean a greater reliance on gas and less reliance on oil and, especially, coal. Besides, he said hydroelectric and gas powered cars will replace diesel engines and, with time, gasoline engines.

‘‘Add to this is the growing investments in renewable sources of energy such as solar and wind, and it becomes evident that Nigeria must rethink or rejig its energy policy to solidify on the gains in the oil and gas industry, the 7 Big Wins, and leverage on these learnings to prepare for an energy mix that will become less reliant on the more polluting fossil fuels,” he said.





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