Federal government has been called upon to unlock full potential and benefits of the nation’s vast oil and gas resources by intensifying exploration activities, expanding refining capacity and prioritising gas development.

Delivering keynote lecture at the fourth annual distinguished lecture, book presentation, and 80th birthday celebration of elder statesman and engineer, Engineer Yusuf Lanre Sagaya, in Ilorin on Thursday, a foremost energy policy expert and infrastructure development specialist, Mr Daniel Dayo Kunle, said that the availability of natural resources alone do not create prosperity.

Speaking on the theme, “Availability, Accessibility and Sustainability of Oil and Gas Resources for Enhanced Benefits to Nigerians”, the energy expert said that Nigeria’s challenge was not the lack of hydrocarbon resources but the inability to effectively convert them into broad-based economic prosperity.

According to him, the country possesses enormous crude oil and natural gas reserves spread across several sedimentary basins, but continues to grapple with energy poverty, inadequate infrastructure and limited industrialisation.

He stressed that the mere availability of resources beneath the ground does not translate to wealth, noting that development only occurs when resources are discovered, produced, processed and transformed into products and services that improve the lives of citizens.

“Resources by themselves do not create development. Human knowledge, technology, innovation and engineering create development. The difference between a resource and wealth is utilisation,” he said.

The energy expert identified engineering as a critical factor in making hydrocarbon resources accessible, explaining that exploration, production, processing, transportation and distribution all depend on technical expertise and infrastructure.

He cited the Dangote Refinery and Petrochemical Complex as a practical example of how engineering and industrial ambition can transform a nation’s resource potential into productive economic assets capable of generating jobs and reducing dependence on imports.

Mr. Daniel Kunle also argued that Nigeria should begin to view itself primarily as a gas nation rather than an oil-producing country, describing the nation’s estimated 210 trillion cubic feet of proven gas reserves as a strategic asset for industrial transformation.

He said natural gas could support electricity generation, fertiliser production, petrochemical manufacturing and industrial growth, adding that projects such as the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline would play a significant role in driving economic development.

While acknowledging the global shift towards renewable energy, Mr Daniel Kunle maintained that hydrocarbons would remain important for developing economies, particularly in Africa where millions of people still lack access to reliable energy.

He warned that Nigeria risked leaving valuable resources stranded if it failed to take advantage of current opportunities in the energy sector.

“The greatest danger facing Nigeria is failing to utilise these resources while they remain strategically valuable. Every year of delay carries a cost, every undeveloped resource represents a lost opportunity and every stranded resource represents unrealised prosperity,” he said.

The keynote speaker further urged government to create stable policies that would attract investment, support innovation and encourage large-scale industrial projects capable of adding value to the nation’s resources.

He also advocated greater investment in science, technology, engineering and mathematics (STEM) education to develop the skilled workforce needed to compete in the evolving global economy.

He also said that future generations would not judge Nigeria by the volume of hydrocarbons beneath its soil but by how effectively the resources were transformed into industries, jobs, infrastructure and sustainable prosperity.

He congratulated Engineer Sagaya on attaining the age of 80, describing him as a distinguished professional whose life exemplifies service, integrity and selfless leadership.

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