Can international oil companies tackle energy poverty in Nigeria?
What should international oil and gas companies be doing to help Nigeria out of its energy crisis? Sixty per cent of Nigerians have no access to electricity. In 2008, Nigeria exported more than 86% of its 2.17 million bbl/day oil production, leaving less than 14% for domestic use. Forty per cent of annual gas production is flared, causing damage to health and livelihoods in the Niger Delta. Meanwhile, Nigeria’s vast renewable energy potential (including solar, wind, hydro- and bio-resources) remains largely untapped. There is a growing awareness of the business case for multinational corporations to engage with development issues in the regions where they operate. This includes the need to mitigate political risks, avoid conflict, recruit and retain reliable local staff, and secure future investment deals with host governments. Our recent report urges oil and gas companies to explore approaches such as diverting gas for local needs rather than flaring it; directing community investment
