The Nigerian Association for Energy Economics (NAEE) has commended President Bola Ahmed Tinubu's macroeconomic reforms, describing them as bold and necessary steps toward long-term economic stability. However, the association urged the government to adopt targeted policies that protect vulnerable citizens and promote inclusive growth.
Speaking at the 18th NAEE/IAEE Annual International Conference in Abuja, former NAEE President, Professor Adeola Adenikinju, said the current economic policies have created a foundation for stability but must be accompanied by social protection measures
He aligned with assessments by the World Bank and International Monetary Fund (IMF) that Nigeria's fiscal and monetary reforms, if sustained, could drive long-term growth. He, however, called for wider access to affordable electricity through solar energy deployment and easier access to domestic gas to boost Liquefied Petroleum Gas (LPG) use.
Also speaking at the conference, the Secretary-General of the African Petroleum Producers Association (APPO), Dr. Omar Faruk, said the global energy transition narrative must reflect Africa's realities. He noted that even the International Energy Agency (IEA) has now acknowledged that fossil fuels cannot be phased out quickly and that renewable energy alone cannot yet meet global demand.
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Faruk urged African nations to focus on developing their own energy technologies and local manufacturing capacities to avoid continued dependence on imports.
The conference, themed "Emerging Geopolitics of the Energy Landscape – Navigating Global Shifts and Their Impacts on Developing Economies," brought together policymakers, industry leaders, and academics to discuss strategies for sustainable energy development and economic inclusion.
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