FG may sign International Energy Charter soon

The Federal Government may soon sign the international energy charter in Brussels to enable it enjoy the benefits of abundant energy needed to sustain the industrialisation of the economy.

Minister of Science and Technology, Ogbonoya Onu hinted about this when he received Monica Emmanuel, the Representative of the International Energy Charter, Nigeria and ECOWAS, accompanied by the management of the Energy Commission of Nigeria (ECN) on Tuesday in Abuja.
Onu said Nigeria has only succeeded in exploiting a small percentage of the enormous energy resources available to her and there is need for abundant energy and power to sustain the ongoing industrialisation process in the country .

“We have also come to the realisation that we need to make sure that the energy which we require for industrialisation process in the country takes off and we would do all the necessary investment because without energy, without power, it is very difficult for a nation to be industrialised.

“We are working very hard to make sure that we change our economy from resources to a knowledge based economy,” he said.

“Wherever the world is gathered, Nigeria should be heard and no obligation should be too great for what is good for the nation. We therefore look forward to a working relationship with the Charter,” the minister stated.

Earlier in her remarks, Emmanuel explained that Nigeria could renew and remain an observer member until she is ready to assent to the treaty which has legal and financial implication, adding that the country would enjoy all the benefits derivable from the Charter, without any legal or financial implications if it is signed on as a observer.

The signing of the charter, she said will avail Nigeria the necessary opportunities to negotiate according to her issues and challenges on the international energy sector, as well as the opportunity to have a say in international decisions concerning the sector.

Monica noted that the Signing of the Charter is an indication of Nigeria’s readiness to align with investors , collaborators and international researchers in the area of energy.