Sunday, October 19, 2025
25.2 C
Lagos

Business

Troyka Holdings Chair, Biodun Shobanjo, Inducted into Loeries Hall of Fame

Nigeria’s foremost advertising leader and Chairman of Troyka Holdings,...

Zenith Bank, NEM, Seplat, AIICO, Dangote Cement, First HoldCo Recognised as Nigeria’s High-Performing Companies

L-R:    Michael Ani, Manager, Investor Relations, Dangote Cement; Oluseyi...

Finance Min, Wale Edun, to Keynote FiBOP Annual Confab Oct 18

The Honourable Minister of Finance and Coordinating Minister of...

Niteon Unveils First African Manufacturers Bank to Unlock $200bn Digital Export Market

Niteon, one of Nigeria's largest digital export marketplaces, has...

FG Boosts MSME Financing with NCGC Initiative

In a bid to boost economic growth and development,...

ICT

Konga Partners Verve to Delight Customers with Free Shopping Vouchers

  Konga, Nigeria’s leading composite e-commerce platform has partnered with...

NCC Spotlights Renewable Energy on World Consumer Rights Day

  The Nigerian Communications Commission (NCC) has concluded arrangements to...

Governors, NCC Set for Broadband Awareness Forum Oct 20

All Nigeria State Governors are set to discuss how...

VerveLife 5.0 Gears Up for Nairobi, Lagos Events

Following a successful series of Verve Life 5.0 satellite...

Telecom Infrastructure Critical to Successful 2023 Elections – Danbatta

The Executive Vice Chairman of the Nigerian Communications Commission,...

Capital Market

SEC DG: Commission Considering Gradual Implementation of ISSB Standards

The Director General of the Securities and Exchange Commission...

ISSB-Aligned Disclosures Will Lower Capital Costs, Attract Global Investors — SEC

The Securities and Exchange Commission (SEC) has unveiled plans...

SEC DG to Cadets:  Invest Early, Long Term to Create Wealth

Graduating Cadets of the Nigerian Defence Academy (NDA) have...

SEC DG: Accountability, Transparency will Boost Investor Confidence in Capital Market

The Director General of the Securities and Exchange Commission...

SEC DG: Digital Assets Represent $10tn Opportunity by 2030

The Director General of the Securities and Exchange Commission...

Insurance

13-year-old Rhema-Love Abraham Emerges Winner of 2025 Heirs Insurance Essay Championship

L:R- Funmi Olotu, National Coordinator, National Social Safety-Nets Coordinating...

Leadway Assurance: Insurance Company of the Year at 2025 BAFI Awards

L-R: Managing Director, Leadway Assurance, Gboyega Lesi; Publisher, BuisnessDay...

Heirs Insurance Group Announces Inaugural Travel Festival: A Call for Inclusive Travel Ecosystem for Africans

Heirs Insurance Group (HIG), Nigeria’s fastest-growing insurance group, has...

Sovereign Trust Insurance Celebrates 2025 Customer Service Week

Sovereign Trust Insurance Plc has been actively involved in...

Leadway: 55 Years of Innovation, Expanding Financial Access, Inclusion Across West Africa

Leadway, one of Nigeria’s foremost non-banking financial services and...

Business

Troyka Holdings Chair, Biodun Shobanjo, Inducted into Loeries Hall of Fame

Nigeria’s foremost advertising leader and Chairman of Troyka Holdings,...

Zenith Bank, NEM, Seplat, AIICO, Dangote Cement, First HoldCo Recognised as Nigeria’s High-Performing Companies

L-R:    Michael Ani, Manager, Investor Relations, Dangote Cement; Oluseyi...

Finance Min, Wale Edun, to Keynote FiBOP Annual Confab Oct 18

The Honourable Minister of Finance and Coordinating Minister of...

Niteon Unveils First African Manufacturers Bank to Unlock $200bn Digital Export Market

Niteon, one of Nigeria's largest digital export marketplaces, has...

FG Boosts MSME Financing with NCGC Initiative

In a bid to boost economic growth and development,...

ICT

Konga Partners Verve to Delight Customers with Free Shopping Vouchers

  Konga, Nigeria’s leading composite e-commerce platform has partnered with...

NCC Spotlights Renewable Energy on World Consumer Rights Day

  The Nigerian Communications Commission (NCC) has concluded arrangements to...

Governors, NCC Set for Broadband Awareness Forum Oct 20

All Nigeria State Governors are set to discuss how...

VerveLife 5.0 Gears Up for Nairobi, Lagos Events

Following a successful series of Verve Life 5.0 satellite...

Telecom Infrastructure Critical to Successful 2023 Elections – Danbatta

The Executive Vice Chairman of the Nigerian Communications Commission,...

Capital Market

SEC DG: Commission Considering Gradual Implementation of ISSB Standards

The Director General of the Securities and Exchange Commission...

ISSB-Aligned Disclosures Will Lower Capital Costs, Attract Global Investors — SEC

The Securities and Exchange Commission (SEC) has unveiled plans...

SEC DG to Cadets:  Invest Early, Long Term to Create Wealth

Graduating Cadets of the Nigerian Defence Academy (NDA) have...

SEC DG: Accountability, Transparency will Boost Investor Confidence in Capital Market

The Director General of the Securities and Exchange Commission...

SEC DG: Digital Assets Represent $10tn Opportunity by 2030

The Director General of the Securities and Exchange Commission...

Insurance

13-year-old Rhema-Love Abraham Emerges Winner of 2025 Heirs Insurance Essay Championship

L:R- Funmi Olotu, National Coordinator, National Social Safety-Nets Coordinating...

Leadway Assurance: Insurance Company of the Year at 2025 BAFI Awards

L-R: Managing Director, Leadway Assurance, Gboyega Lesi; Publisher, BuisnessDay...

Heirs Insurance Group Announces Inaugural Travel Festival: A Call for Inclusive Travel Ecosystem for Africans

Heirs Insurance Group (HIG), Nigeria’s fastest-growing insurance group, has...

Sovereign Trust Insurance Celebrates 2025 Customer Service Week

Sovereign Trust Insurance Plc has been actively involved in...

Leadway: 55 Years of Innovation, Expanding Financial Access, Inclusion Across West Africa

Leadway, one of Nigeria’s foremost non-banking financial services and...

Gas to Play Significant Role in Africa’s Energy Mix, says NLNG’s MD

Dr. Philip Mshelbila

Managing Director and Chief Executive Officer

Nigeria LNG Limited (NLNG)

Natural gas should and will play a significant role in Africa’s energy mix to meet the demands arising from rapid population growth and economic expansion, as well as the need for affordable access to clean energy and supply security for industrialisation, according to Dr. Philip Mshelbila, Managing Director and Chief Executive Officer of Nigeria LNG Limited (NLNG).

Mshelbila made these remarks during a strategic session at the recently concluded 2023 Gastech Exhibition and Conference in Singapore, where he discussed Africa’s role in increasing supply resilience in the energy transition context. He stated that African gas could enhance global energy security by increasing gas production, ensuring a steady supply source despite rising domestic consumption, and the growth of floating LNG, facilitating the rapid delivery of gas products to the market.

He stressed the necessity of adopting a multi-dimensional approach to the energy transition, considering Africa’s specific context and evolving needs. Dr. Mshelbila pointed out that the continent is already capitalising on opportunities in the energy transition, utilising gas as an evolutionary energy source that offers a cleaner alternative to traditional biomass and coal. He highlighted that transitioning from polluting sources to liquefied petroleum gas (LPG) and compressed natural gas (CNG) can reduce emissions by up to 48%. He cited Nigeria as an example, where the government actively promotes CNG usage in the transportation sector to expand gas utilisation and drive progress across various industries.

Mshelbila also noted that Africa is maximising opportunities in the growing LNG market, increasing its production capacity to substantially contribute to global supply. He added that Africa is emerging as a critical global gas supply source, with production expected to double, solidifying the continent’s role in global energy security.

“The largest gas markets in Africa remain Algeria and Nigeria, which account for at least 55% of the continent’s gas reserves. However, exciting new gas markets are emerging across the continent, especially in LNG developments in Mozambique, Senegal, the Congo, and Tanzania,” he stated.

Furthermore, Mshelbila stated that efforts are underway to develop inter-regional gas supply pipelines to facilitate the movement of gas resources from West Africa to North Africa and beyond, promoting intercontinental trade.

Regarding the energy transition, he highlighted Africa’s progress in the field of hydrogen. He said that when produced using Africa’s abundant gas resources in conjunction with renewables, hydrogen can position the continent as a major hydrogen exporter in the near future.

In conclusion, Mshelbila emphasised that Africa is taking a proactive, region-specific approach that leverages its unique strengths and resources, offering promise for a sustainable energy future and a crucial role in the global energy transition.

The Gastech Exhibition and Conference is a significant platform for professionals in the natural gas, LNG, hydrogen, low-carbon solutions, and climate technologies industries to discuss the latest developments in the sector. NLNG actively participated in strategic leadership sessions and the exhibition.

 

Hot this week

13-year-old Rhema-Love Abraham Emerges Winner of 2025 Heirs Insurance Essay Championship

L:R- Funmi Olotu, National Coordinator, National Social Safety-Nets Coordinating...

Stanbic IBTC Bank, LOXEA BYD forge alliance for Electric Vehicle Financing

In a strategic move to advance Nigeria’s shift toward...

CBN, Bank of Angola Sign MoU on Technical Co-operation at IMF/World Bank Meeting

In an effort to enhance bilateral cooperation and technical...

NBS: Nigeria’s Inflation Falls to 18.02% in September, Lowest Level in Three Years

Nigeria’s headline inflation rate fell for the sixth consecutive...

NUPEMCO Marks 2025 CSW with Nationwide Pension Awareness Activities, Huawei-Supported National Essay competition

The Nigerian University Pension Management Company (NUPEMCO) celebrated the...

Topics

Wema Bank Empowers SMEs in Enugu via Capacity Seminar

  From left to right – Head, Corporate Strategy and...

CHI Settles Accident Claims of Second Insurance Journalist

Consolidated Hallmark Insurance (CHI) Plc, for the second time...

West Africa Needs €30bn to Fix Energy Deficit

Christian Adovelande, President of the West African Bank for...

FBN Insurance, LASPEC Win Inspenonline Awards

Inspenonline Media has given awards to seven insurance firms,...

PenCom: Pension Assets Hit N17tr in June 2023

The National Pension Commission (PenCom) has put pension assets...

NNPC Says Crude Oil Production, Price Benchmark for 2024 Budget Realistic

The Nigerian National Petroleum Company Limited has assured that...

IMF Cuts Global Growth Forecast over BREXIT

The International Monetary Fund cut its forecasts for global...
Exit mobile version