Coalition of Private Energy Entrepreneurs has called on President Bola Tinubu to replace the current Minister of State for Petroleum Resources, Ekperikpe Ekpo.
National President of the coalition Greg Akume in a statement on Friday urged President Tinubu to immediately replace the minister “with a more capable and proactive leader.”
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The coalition said it demands a “leader who understands the intricacies of the energy market, values the contributions of the private sector, and is committed to fostering an environment that supports innovation, efficiency, and growth, as suggested by them, should be allowed to oversees the affairs of the ministry.
“Over the past months, it has become painfully clear that the leadership of the Ministry of Gas under the current minister has been ineffective in addressing critical challenges facing our industry”, reeled out the challenges presently being face in the sector to include regulatory bottlenecks, inefficiencies in the allocation of resources.
“Others challenges as enumerated by them, are, lack of transparency, and an overall sluggishness in policy implementation. Such issues have severely hampered the growth and sustainability of the private sector in energy, which is vital for the nation’s economic stability and development.”
They argued that the “existing regulatory framework under the current minister’s leadership has proven to be a significant obstacle to the efficient operation of the private energy sector.
“There have been numerous instances of inequitable and inefficient allocation of gas resources, which have favored certain entities without due process. This practice undermines fair competition and discourages investment in the sector.”
The coalition expressed concern over the alleged failure of the ministry to “maintain a transparent decision-making process, leading to a loss of trust among private sector stakeholders.”
Akume said with the right leadership, the coalition is optimistic that the private energy sector can significantly contribute to the government’s objectives of achieving energy security, economic diversification, and sustainable development.
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