Nigeria’s energy challenge goes beyond resources – HBSAN – Daily Trust

The President of the Harvard Business School Association of Nigeria (HBSAN), Collins Onuegbu, has stated Nigeria’s energy challenge lies not in an absence of resources however within the nation’s incapacity to transform them into dependable electrical energy, productive industries and broad-based prosperity.

Onuegbu made the commentary on the HBSAN Energy Conference 2026 in Lagos, the place stakeholders examined methods to combine the oil, fuel and energy sectors to drive nationwide improvement.

Speaking on the theme, “One Energy System: Integrating Oil, Gas and Power for National Transformation,” he stated the three segments of the energy business might now not be managed in isolation, given their interconnected roles in financial progress.

“Oil, gas and power cannot continue to be viewed or managed in isolation; they are interconnected parts of one energy ecosystem,” he stated.

According to him, provide constraints, infrastructure gaps and excessive energy prices affecting households and companies underscore the necessity for stronger coordination throughout Nigeria’s energy worth chain.

He stated the nation should align its insurance policies, infrastructure, investments and pure resources to make sure that energy improvement delivers higher financial worth.

Onuegbu defined that the convention was designed to look at the institutional coordination, financing preparations and infrastructure required to combine the totally different segments of the energy business.

He added that the discussions would produce an actionable white paper containing precedence suggestions, recognized stakeholders and sensible implementation measures for engagement with authorities, regulators, buyers and business operators.

In his keynote handle, titled “From Resource to Prosperity: Unlocking National Growth Through Integrated Energy Systems, Oil, Gas and Power: The African Perspective,” the Managing Director and Chief Executive Officer of Nigeria LNG Limited, Adeleye Falade, referred to as for higher coordination amongst African nations to make sure that energy resources translate into financial improvement.

Falade stated creating economies shouldn’t be compelled to decide on between financial progress and emissions discount, arguing that each targets could possibly be pursued collectively.

He burdened the significance of connecting fuel provide with home demand, efficient fee programs and business profitability, noting that these components had been important for African nations to derive higher financial advantages from their energy resources.

Falade urged stakeholders to guage energy insurance policies and investments based mostly on their capability to create jobs, increase electrical energy connections and strengthen hyperlinks throughout the energy worth chain.

“Where are the jobs? Where are the connections? Where are the links? And who is responsible for each one?” he requested, urging stakeholders to contemplate these questions earlier than introducing new insurance policies, plans or investments.

He stated Nigeria might share its expertise in fuel improvement with different African nations, including that higher worth could possibly be generated by making present infrastructure and investments extra productive.

Also talking on the convention, the Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, Rabiu Abdullahi Umar, emphasised the significance of guaranteeing that investments within the fuel sector remained commercially viable.

Umar warned in opposition to imposing extreme prices on fuel off-takers, noting that pricing preparations should encourage funding whereas guaranteeing affordability for customers and companies.

He stated the prevailing framework for home fuel value regulation was scheduled to finish in September 2028, highlighting the necessity for a sustainable pricing construction to help the sector’s improvement.

The convention additionally featured classes on infrastructure financing, business effectivity and the expansion of indigenous African energy companies.