The former special adviser to the president on petroleum matters, Emmanuel Egbogah, has called for the best corporate practices and strong investments in the oil and gas sector.
Egbogah, who was chairman at a two-day regional conference on energy with the theme: “Oil and Gas in the Gulf of Guinea: Development and Management for Inclusive and Sustainable Development,” organised by the Centre for Petroleum, Energy Economics and Law, University of Ibadan, emphasised that Nigeria was a strong player in the Gulf of Guinea and a leading reserve holder.
But he however decried that only a few communities benefit from oil resources.
Another speaker, Albert Isaac, a professor, who is a member of the conference, maintained that appropriate laws should be enacted across the sub-region to curb illegal oil business, adding that the regional approach coupled with enforcement would stop the tide.
He pointed out that youth empowerment and better policies were essential to stem the tide of vandalism and oil theft.
On his part, Fisoye Delano declared that availability of energy was paramount to the economy of the country, saying the key element to promote investments in the sector was consolidation, saying the Centre was well-positioned to assist government agencies to come up with fiscal alternatives that would provide energy necessary for the economic growth of the Gulf of Guinea countries.
In his address, Governor Abiola Ajimobi of Oyo State reiterated that peace was critical for economic development of any state, saying peace was pivotal to economic prosperity of the state, as he would spare no efforts to sustain the peace being enjoyed in the state.
Represented by the secretary to state government, Olalekan Alli, the state governor restated the commitment of his administration to implement policies and programmes that would impact on the lives of the residents.
In his welcome address, director of the Centre, Adeola Adenikinju, said the centre was poised to train qualified personnel to initiate, manage and sustain broad energy sector reforms in Nigeria and the West Africa sub-region.
Adenikinju, a professor, called on the stakeholders in the oil and gas industry to ensure judicious spending of revenue accrued from the sector, saying the essence of the conference was to proffer solutions to the challenges in the oil and gas industry.
The director however stated that the resolutions of the conference would be forwarded to government for appropriate actions.
Remi Feyisipo
