The second day of the 2026 Nigeria Oil and Gas (NOG) Energy Week in Abuja underscored growing confidence in Nigeria’s energy sector, as thousands of industry leaders, investors, policymakers and energy professionals gathered to discuss reforms, investment opportunities and the future of Africa’s largest oil and gas industry.
Conference halls were filled to capacity, with many participants standing outside venues to follow proceedings, reflecting renewed optimism about Nigeria’s energy sector following recent policy reforms and increased investment activity.
Stakeholders agreed that stronger collaboration among government, regulators, indigenous operators, international oil companies and investors has become the driving force behind the industry’s recent progress. They stressed that sustained cooperation and policy consistency will be critical to unlocking Nigeria’s full energy potential.
Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, commended the organisers for expanding the conference’s international reach, noting that the increased global participation demonstrated renewed confidence in Nigeria’s energy sector.
The event attracted some of the industry’s most influential figures, including Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri; Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo; Group Chief Executive Officer of NNPC Ltd, Bashir Bayo Ojulari; Managing Director/CEO of Renaissance Africa Energy Company, Tony Attah; Managing Director and Chief Executive Officer of Nigeria LNG, Adeleye Falade; Managing Director of Seplat Energy, Roger Brown; Managing Director of TotalEnergies EP Nigeria, Matthieu Bouyer; Director and Chief Operating Officer of Chevron Nigeria, Segun Kuteyi; and Chairman of the Independent Petroleum Producers Group (IPPG), Adegbite Falade, among other senior executives and policymakers.
Government Backs NNPC Refinery Rehabilitation
Speaking at the official opening ceremony, Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, reaffirmed the Federal Government’s commitment to supporting the Nigerian National Petroleum Company Limited (NNPC Ltd) in completing the rehabilitation of the Port Harcourt and Warri refineries.
His remarks followed the recent Memorandum of Understanding (MoU) signed between NNPC Ltd and two Chinese firms—Sanjiang Chemical Company Limited and Xinganchen (Fuzhou) Industrial Park Operation and Management Co. Ltd.—to pursue a technical equity partnership aimed at completing and operating the refineries.
Lokpobiri praised NNPC Ltd’s new leadership for pursuing international partnerships to revive the country’s refining sector.
“I was excited recently when I saw NNPC going to Warri with partners who are coming to help Nigeria rehabilitate the Warri and Port Harcourt refineries. That is the right way to go,” he said.
Nigeria Moves to Streamline More Than 270 Industry Charges
One of the conference’s major announcements was the Federal Government’s plan to harmonise more than 270 taxes, levies and regulatory charges currently imposed on oil and gas operators.
Lokpobiri disclosed that the government had commissioned PricewaterhouseCoopers (PwC), working with the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), to benchmark Nigeria’s fiscal regime against competing oil-producing jurisdictions.
According to the minister, the objective is to simplify regulatory payments, lower operating costs and improve Nigeria’s competitiveness for global energy investments.
He explained that while many of the existing charges generate relatively small revenues, processing hundreds of separate invoices creates significant administrative burdens for operators.
“The report will soon be ready, and I believe it will solve that problem once and for all,” he said.
Indigenous Producers Warn Multiple Levies Threaten Investment
Earlier, IPPG Chairman Adegbite Falade warned that Nigeria’s oil and gas industry remains one of the most heavily taxed globally, with more than 270 separate fees, levies and regulatory charges.
He argued that the cumulative fiscal burden is gradually eroding the incentives introduced under the Petroleum Industry Act (PIA), particularly for indigenous operators managing mature fields with thinner profit margins.
Falade urged government agencies to harmonise regulatory charges, eliminate duplication and establish a more transparent and predictable fiscal environment capable of supporting long-term investment, production growth and job creation.
Nigeria Positions Gas as the Engine of Economic Growth
Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, declared that Nigeria is positioning itself as one of Africa’s most attractive destinations for gas investment through fiscal reforms, regulatory stability and strategic infrastructure development.
He said Nigeria’s estimated 215 trillion cubic feet of proven natural gas reserves—the largest in Africa—will serve not only export markets but also power domestic industries, fertiliser plants, petrochemical facilities, transportation and clean cooking initiatives.
“Our message to the global investment community is clear: Nigeria is open for business, and we have established a stable, competitive and predictable investment environment,” Ekpo said.
He highlighted major infrastructure projects including the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline, the OB3 Gas Pipeline, additional gas processing facilities and the NLNG Train 7 expansion project, which is expected to increase Nigeria LNG’s production capacity from 22 million to 30 million tonnes annually.
Ekpo also highlighted the Presidential Compressed Natural Gas (CNG) Initiative and the National Clean Cooking Programme, which aims to provide cleaner cooking energy to five million households by 2030.
Addressing the conference theme, “Advancing Energy Ambitions for Competitive and Resilient Economies,” Ekpo said countries that will shape the future of energy are those with the vision to implement reforms, attract investment and convert natural resources into sustainable economic prosperity.
He emphasised that the Petroleum Industry Act (PIA) has fundamentally transformed Nigeria’s regulatory and fiscal framework, improving transparency and providing greater certainty for investors.
Presidential Adviser Highlights Reform Impact
Special Adviser to the President on Energy, Olu Verheijen, said global competition for energy investment has shifted beyond resource availability to the credibility of government policies and implementation.
“The competition is no longer geology against geology. It is government against government. It is rules against rules. It is delivery against delivery,” she said.
According to Verheijen, reforms introduced by the Tinubu administration have already attracted more than $10 billion in Final Investment Decisions (FIDs), while projects worth over $50 billion remain in the investment pipeline.
She added that Nigeria’s crude oil and condensate production has increased by more than 400,000 barrels per day and that the country’s external reserves have exceeded $50 billion.
NNPC Reports Strong Operational Performance
Group Chief Executive Officer of NNPC Ltd, Bashir Bayo Ojulari, called for deeper collaboration across Africa’s energy industry, saying strategic partnerships remain essential for unlocking investment, expanding production and accelerating industrialisation.
Presenting the company’s one-year performance report, Ojulari announced that NNPC Ltd achieved an average 98 per cent operational recovery across its five crude oil export terminals between April 2025 and May 2026.
He disclosed that Nigeria’s crude oil production has risen to 1.71 million barrels per day—the highest level recorded in five years—while NNPC Exploration and Production Limited (NEPL) achieved a record production of 365,000 barrels per day.
Gas production also reached 7.5 billion standard cubic feet per day following the completion of the River Niger crossing on the AKK Gas Pipeline and the commissioning of the ANOH Gas Processing Plant.
Ojulari further announced that NNPC maintained 100 per cent compliance with Joint Venture cash call obligations throughout 2025 and the first half of 2026.
He added that the company had signed landmark Gas Sale and Purchase Agreements covering 1.29 billion standard cubic feet per day for LNG feed gas and an additional 750 million standard cubic feet per day for domestic industrial gas supply, including deliveries to Dangote Refinery.
PETAN Warns Nigeria May Miss 3 Million bpd Target
President of the Petroleum Technology Association of Nigeria (PETAN), Wole Ogunsanya, cautioned that Nigeria risks missing its target of producing three million barrels of crude oil per day by 2030 unless upstream investment increases significantly.
Speaking during the Nigerian Content Seminar at NOG Energy Week, Ogunsanya said Nigeria has developed substantial local capacity across drilling, fabrication and oilfield services, but much of that capacity remains underutilised because of declining investments and insufficient drilling activity.
“We have adequate equipment and in-country capacity to achieve up to three million barrels per day production. The challenge is how to fully utilise this capacity,” he said.
Ogunsanya noted that although Nigeria’s refining capacity is expanding through the Dangote Refinery, rehabilitated government-owned refineries and several proposed projects, upstream production has not grown at the same pace.
He warned that operators continue to suffer production losses of up to 70 per cent in some areas, discouraging fresh investment and slowing production growth.
Collaboration Emerges as Central Theme
Across ministerial sessions, executive panel discussions and industry presentations, one message remained consistent: collaboration, cooperation and policy consistency are essential to sustaining Nigeria’s oil and gas transformation.
Stakeholders agreed that strengthening partnerships between government institutions, regulators, indigenous producers, international investors and technology providers will determine Nigeria’s ability to increase production, deepen local content, accelerate gas development and position itself as one of the world’s most competitive energy investment destinations.
