Nigeria faces a significant paradox of energy poverty despite having abundant natural gas reserves, totaling nearly 208.83 trillion cubic feet. Simbi Wabote, former head of the Content Development and Monitoring Board, identifies an opportunity in advancing the gas sector, advocating for a shift away from the oil-centric focus that has dominated Nigeria's energy landscape for decades. Current extraction levels are merely a fraction of what Nigeria's reserves could sustain. The country's ongoing electricity crisis drives a reliance on costly, polluting diesel generators, underscoring a critical infrastructure failure as approx. 60% of the population endures frequent power outages.
Sixty percent of Nigeria's population lacks reliable electricity, despite the country having vast natural gas reserves, highlighting a paradox of energy poverty amid energy abundance.
I think the opportunity is in the gas sector, developing the gas sector. Nigeria is a gas rich nation, almost 203 trillion cubic feet of gas proven.
While oil has dominated headlines and government revenues for six decades, gas development offers more sustainable economic prospects, with proven reserves lasting decades.
Power generation remains Nigeria's most persistent infrastructure failure, leading to rolling blackouts and dependence on expensive, polluting generators, affecting almost 60% of the population.
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