Elohor Aiboni, Managing Director of Shell Nigeria Exploration and Production Company Limited (SNEPCo), has emphasized the need for Nigeria to diversify its renewable energy portfolio to simultaneously reduce carbon emissions from fossil fuel production and meet the energy demands of a growing population.
Aiboni made these remarks during the opening ceremony of the 41st annual international conference and exhibition of the National Association of Petroleum Explorationists (NAPE) in Lagos.
Highlighting the importance of a diversified approach, Aiboni stressed the significance of encouraging Public-Private Partnerships (PPPs) in renewable energy to overcome high investment costs and limited access to financing.
She underscored that reducing carbon emissions from fossil fuels is a national endeavor requiring cooperation from individuals and corporate entities.
Aiboni commended the efforts of All On, an impact investing company established by Shell in Nigeria in 2017, as a private sector intervention in renewable energy.
All On has facilitated over 75,000 energy connections in Nigeria, covering solar energy systems, solar assembly, cold storage, and mini-grids.
The Shell MD also advocated for investments in lower-carbon energy sources, emphasizing the expansion of the natural gas portfolio and gas infrastructure projects, including pipelines, processing, and distribution facilities.
These investments, she argued, could enhance domestic gas supply, support intra-regional trade, facilitate global exports, address the energy access gap, and reduce the risk of stranded gas resources.
Discussing the role of technology in promoting energy efficiency, Aiboni highlighted the impact of advancements in artificial intelligence, robotics, and proactive and predictive surveillance.
These technologies have contributed to a significant reduction in flaring, with Shell achieving over 50% flare reduction onshore and minimal flaring in deepwater operations.
“Opportunities offered by renewables, innovation, and emerging technologies represent the tripod on which the industry stands and must be leveraged as enablers,” Aiboni noted.
