Seplat Energy Plc has reiterated that oil and gas will continue to play a critical role in Nigeria’s energy mix, while stressing the need for operators to conduct their activities responsibly, efficiently, and sustainably.
This position was articulated by Mr. Okechukwu Mba, Director, Gas & New Energy, Seplat Energy Plc, who represented the Company’s Chief Executive Officer, Mr. Roger Brown, at a high-level climate roundtable organised by the Nigerian Exchange Group (NGX Group) in partnership with DEG, Germany’s development finance institution, and Africa Foresight Group (AFG) in Lagos.
Speaking at the event, Mr. Mba noted that the real issue facing Nigeria’s energy sector is not whether oil and gas should exist, but how operators manage their responsibilities to the environment, society, and the economy.
“Oil and gas will remain an important part of Nigeria’s energy mix for some time to come. The right conversation is not whether oil and gas should exist, but how operators conduct themselves responsibly,” he said.
He emphasised that responsible operations must be driven by concrete actions, including improved efficiency, reduced emissions, and credible offsetting strategies.
At Seplat Energy, Mr. Mba explained, this commitment is already being translated into measurable outcomes. He disclosed that the company had launched a comprehensive programme several years ago to end routine gas flaring across all its onshore operations, adding that by the end of last year, all the projects required to achieve this milestone had been delivered and were currently at the commissioning stage.
“Very soon, we will be able to clearly state that routine flaring has ended in our onshore operations. This is an important milestone that speaks to our stewardship of the environment, while remaining focused on delivering energy to the nation,” he said.
He further highlighted Seplat Energy’s deployment of technology to enhance operational efficiency, including real-time monitoring of emissions across pipelines, valves, plants, and other critical infrastructure, supported by a robust asset integrity programme designed to identify and eliminate emissions.
Beyond operational measures, Mr. Mba said the company is also implementing nature-based solutions to offset emissions. In one of its host communities in Edo State, Seplat Energy has launched an afforestation programme committing to plant millions of trees over a five-year period, with the first phase already completed.
He also pointed to the company’s investments in Gas and LPG infrastructure as part of efforts to reduce emissions beyond its direct operations. According to him, expanding access to LPG helps reduce reliance on firewood, charcoal, and other biomass fuels, particularly in communities outside major cities.
Following Seplat Energy’s offshore acquisition, he noted that LPG that was previously exported has now been redirected to the domestic market, significantly improving availability, affordability, and overall market quality.
Mr. Mba also underscored the urgent need for financing to support Nigeria’s energy transition, particularly gas and gas-to-power projects, noting that while only about five gigawatts of electricity currently come from the national grid, a much larger share of power is self-generated through petrol and diesel generators that produce significantly higher emissions.
“If we replace these inefficient power sources with gas-powered energy, we can achieve substantial decarbonisation. But without adequate financing, these projects cannot be implemented, and the benefits will not be realised,” he said.
The event marked the launch of the NGX Net-Zero Programme (N-Zero), an initiative designed to support listed companies in defining net-zero pathways, improving climate-related disclosures, and aligning with global investor expectations. The programme is expected to unlock between $2.5 billion and $3.1 billion in climate-linked capital for Nigerian companies.
Speaking at the launch, Dr. Umaru Kwairanga, Group Chairman of NGX Group, said Africa’s capital markets must take a leading role in driving climate action and sustainable growth, adding that the NGX Net-Zero Programme would help companies move from climate ambition to measurable action.
Also presenting the investment case, Mr. Temi Popoola, Group Managing Director of NGX Group, noted that climate risk has become a critical factor in valuation and capital allocation globally, while Ms. Monika Beck, a member of the Management Board of DEG, said the partnership aligns with DEG’s strategy of mobilising private capital to accelerate climate action while delivering measurable development impact.
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