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Former Minister of Information and Culture, Alhaji Lai Mohammed, has said that regulatory certainty, transparent policy frameworks, and competitive fiscal incentives are critical to attracting the scale of investment needed to transform Nigeria’s energy sector.
Speaking in a strategic industry context, Mohammed, who is Chairman of Portland Gas Limited, stated that these factors would play a decisive role in unlocking billions of dollars in capital required to drive growth, deepen gas utilisation, and reposition the country within the global energy market.
He spoke while delivering his keynote address at the Oriental News Nigeria 2026 Conference in Lagos on Thursday, July 23, 2026. He spoke on the theme, “Carbon Capture: Accelerating Decarbonisation Initiatives in Nigeria’s Extractive Industry Through Broad Regulatory Reforms.”
Building on his position, Mohammed stressed that decarbonisation has moved beyond long-term ambition to an immediate priority, noting that carbon capture, cleaner fuels and enabling regulatory reforms remain central to achieving sustainable energy transition goals.
He maintained that infrastructure development alone would be insufficient to meet national climate targets and global Net Zero commitments, highlighting that transformation finance, sound investment strategies, operational sustainability and effective climate governance are critical drivers of success.
Mohammed further identified financing as a major constraint to scaling clean energy infrastructure across Africa.
He said, “We therefore need innovative financing models, blended finance, green bonds, carbon markets and long-term investment frameworks that reduce project risks and encourage greater private sector participation.”
Group Managing Director, Sahara Group, Kola Adeshina, said the theme for the conference was timely.
He advised that carbon capture should not be treated as a silver bullet but should also not be dismissed as a distant idea.
Kola said: “For us to abate industrial and energy activities it becomes one of the practical tools that allow Nigeria to keep building while lowering the carbon cost of growth. The geology available for carbon capture appears promising but geology alone will not create the carbon capture industry. What makes the difference is confidence. Confidence in the rules confidence in the data confidence in the economics and confidence that operators and there are some represented in this room can manage complex operations safely transparently and responsibly.
“In simple terms we must move from just policies to projects we must move from communications to capital and from ambition to measurable actions. Just by looking at that for all the strategic objectives should be, Nigeria’s decarbonization pathway was reflecting companies’ development reality, reducing emissions while…
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