Seplat Energy Plc has reaffirmed that oil and gas will remain central to Nigeria’s energy mix for the foreseeable future, while committing to operate more responsibly as the country accelerates its transition to a lower-carbon economy.
The position was articulated by Mr. Okechukwu Mba, Director, Gas & New Energy at 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 said the core challenge confronting Nigeria’s energy sector was 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 explained that responsible operations must be driven by tangible actions, including improved efficiency, reduced emissions, and credible offsetting strategies.
According to Mr. Mba, Seplat Energy has already translated these commitments into measurable outcomes. He disclosed that the company launched a comprehensive programme several years ago to eliminate routine gas flaring across all its onshore operations. By the end of last year, he said, all projects required to achieve this objective had been completed 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 reflects our stewardship of the environment, while remaining focused on delivering energy to the nation,” he said.
Mr. Mba also highlighted the company’s deployment of advanced technology to improve operational efficiency, including real-time emissions monitoring across pipelines, valves, processing plants, and other critical infrastructure. These systems, he said, are supported by a robust asset integrity programme designed to identify and eliminate emissions.
Beyond direct operational measures, he noted that Seplat Energy is implementing nature-based solutions to offset emissions. In one of its host communities in Edo State, the company has launched an afforestation programme committing to plant millions of trees over a five-year period, with the first phase already completed.
He further pointed to Seplat Energy’s investments in gas and liquefied petroleum gas (LPG) infrastructure as part of its broader emissions-reduction strategy. Expanding access to LPG, he said, helps reduce reliance on firewood, charcoal, and other biomass fuels, particularly in communities outside major urban centres.
Following Seplat Energy’s offshore acquisition, Mr. Mba noted that LPG volumes previously exported are now being redirected to the domestic market, improving availability, affordability, and overall market quality.
He also underscored the urgent need for financing to support Nigeria’s energy transition, particularly gas and gas-to-power projects. While only about five gigawatts of electricity currently come from the national grid, he said a much larger share of power is self-generated using petrol and diesel generators, which 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 formal launch of the NGX Net-Zero Programme (N-Zero), an initiative designed to support listed companies in defining credible net-zero pathways, improving climate-related disclosures, and aligning with global investor expectations. The programme is projected 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 play a leading role in driving climate action and sustainable growth. He added that the Net-Zero Programme would help companies move from ambition to measurable action.
Also presenting the investment case, Mr. Temi Popoola, Group Managing Director of NGX Group, said climate risk has become a critical factor in global valuation and capital allocation decisions. 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.
