At the Nigeria Energy Leadership Summit Heirs Energies CEO, Osa Igiehon and Executive Director/CFO, Samuel Nwanze, shared insights on the future of Nigeria’s energy sector.
In his plenary address, Osa stressed that gas-to-power solutions are critical to overcoming the country’s energy challenges. He emphasised the importance of collaboration between upstream companies and power generators to fully unlock Nigeria’s natural gas potential, which could drive economic growth, create jobs, and improve the quality of life for millions of Nigerians.
“Gas-to-power is not just an option; it is the backbone of Nigeria’s energy security,” he said. “While renewable energy is essential, we need a stable baseload power supply, and natural gas provides a cleaner, more reliable alternative to coal and diesel.” He added that leveraging gas for power generation would reduce reliance on imported fuels and stabilise the national grid, helping the country cut carbon emissions while fostering sustainable development.
Osa also pointed to Nigeria’s ambitious targets to provide electricity to over 90% of the population by 2030, noting that these goals are achievable through effective government and private sector collaboration. He emphasized Heirs Energies’ commitment to being a strategic supplier of gas to power plants and industries, aiming to play a key role in ensuring Nigeria’s energy security.
Samuel Nwanze addressed the financial aspects of Nigeria’s energy transition during a fireside chat on the theme, “Investing in Tomorrow: Navigating the $360 Billion Energy Transition.” Sam revealed that Nigeria will need approximately $135 billion to decarbonize its power sector by 2060 and meet net-zero emission goals.
He outlined the critical role of innovative financing, including green bonds and blended finance, to accelerate the development of renewable energy projects. “There is no one-size-fits-all financing solution for renewable energy,” Sam said, highlighting the need for tailored approaches to mitigate project risks and attract capital. He also emphasized the importance of upgrading Nigeria’s grid infrastructure and scaling up off-grid solutions to ensure energy access and sustainability.
Sam also pointed to the need for clear policy frameworks to provide certainty around tariffs and demand, which are essential for attracting long-term investments. “Expanding transmission infrastructure and adopting energy storage solutions are key to integrating renewable energy into the national grid,” he added.
Both Osa and Sam reaffirmed Heirs Energies’ dedication to advancing Nigeria’s energy transition. By combining natural gas with renewable energy solutions, they believe Nigeria can create a sustainable and equitable energy future that will power economic growth.
