The Federal government has changed the Nigeria International Petroleum Summit’s (NIPS) name to the Nigeria International Energy Summit.
The Minister of state for Petroleum Resources, Chief Timipre Sylva, made the announcement at the closing ceremony of the 4th edition of NIPS in Abuja on Thursday.
He said that the changes were in line with the move of government towards energy transition and decalaration of the decade of gas.
He said that the successful hosting of the 2021 NIPS was an indication of resilence and determination of government to ensure transition into a gas economy.
“NIPS narrowly escaped shutdown in 2020 because the summit ended few days before the whole world closed down because of coronavirus pandemic.
“This year, we already had a good outing with the turnout of participants and discussion that we had, it is a testament that NIPS is God’s own event.
“ Going forward from today, the NIPS will be called Nigeria International Energy Summit,” he said.
Sylva noted that so far the summit had brought about various development in the sector, adding that the outcome of the 2021 summit would be more impactful.
“ Last year, WalterSmith Modular Refinery was at the presentation stage, talks were still on taking the Final Investment Decision( FID) on Train seven and the Ajaokuta Kaduna Kano(AKK) gas pipeline were still not on board.
“Today in 2021, we are celebrating these projects as reality and milestone. This is a clear demonstration of how far we can go as a country,” he added.
The minister commended the cooperation of all stakeholders in ensuring that the country utilises its huge deposit of gas to join the global league of industrialised nations.