Dr. Mustapha Abdullahi, Director-General of the ECN, has expressed delight in hosting the energy summit spotlighting the Energy Transition Plan.
He emphasized the shared commitment of relevant agencies to address energy challenges through dialogue and collaboration.
The summit’s focus on mitigating climate change and improving energy access signals a vital step towards achieving a sustainable energy transition.
Mr. Ogbugo Ukoha, Executive Director of Distribution Systems Storage and Retailing Infrastructure of NMDPRA, delivered a comprehensive presentation on the impacts and prospects of Fuel Subsidy Removal.
He highlighted the significant reduction in average daily truckout and the promotion of cleaner alternative fuels such as CNG, LPG, and LNG. Additionally, he emphasised the Authority’s collaboration with stakeholders to introduce alternative fuel , aimed to reduce dependence on PMS.
Regarding prospects, he outlined the elimination of price arbitrage and cross-border diversion, fostering competition amongst indusry players, and stimulating midstream growth.
He commended monetary authorities for ongoing economic reforms and stressed the importance of a stable Naira for realising the benefits of fuel subsidy removal.
Ukoha reiterated the Authority’s commitment to collaborating with ECN to ensure a sustainable energy transition plan.
