…Independent producers urge infrastructure investment, tax reforms and gas development to drive industrial growth and attract long-term investment
The Independent Petroleum Producers Group (IPPG) has called on the Nigerian government to deepen energy sector reforms, expand infrastructure investment and strengthen the oil and gas value chain to unlock the country’s full economic potential and enhance its competitiveness in the global energy market.
Speaking at the opening of the 25th NOG Energy Week in Abuja, IPPG Chairman Adegbite Falade said recent reforms have helped restore investor confidence, boost crude oil production and attract significant upstream investment, but warned that sustaining the momentum would require further policy and structural reforms.
According to Falade, collaboration among the Federal Government, industry regulators and private sector operators has contributed to Nigeria’s improving production outlook and growing investor interest in the upstream petroleum sector.
However, he said the country must move beyond increasing crude oil output by accelerating gas development, investing in critical infrastructure and expanding domestic value addition.
“Our ambition must extend beyond producing more barrels. Success should be measured by the industries we build, the jobs we create, the value we retain and the prosperity we deliver for Nigerians,” Falade said.
From Resource Extraction to Industrial Growth
Falade urged policymakers to leverage ongoing reforms to transform Nigeria from a resource-dependent economy into a globally competitive industrial and energy hub.
He noted that recent geopolitical developments have highlighted the importance of maintaining adequate production and processing capacity, arguing that countries lacking sufficient infrastructure are unable to capitalize on periods of supply disruption or heightened global demand.
The IPPG chairman said Nigeria should position itself to capture greater value across the energy supply chain rather than relying primarily on crude oil exports.
Industry Calls for Tax and Regulatory Reforms
To improve the investment climate, the group called for the harmonisation of multiple taxes, levies and regulatory charges across the petroleum industry, describing fiscal stability as critical to attracting long-term capital.
Falade also advocated sustained investment in transport, processing and energy infrastructure, increased funding for workforce development and skills acquisition, and a comprehensive review of the Petroleum Industry Act (PIA) to reflect evolving market realities and consolidate recent reform gains.
He said modernising the regulatory framework would further strengthen Nigeria’s competitiveness amid intensifying global competition for energy investment.
Focus on Long-Term Energy Security
As NOG Energy Week marks its 25th anniversary, Falade said Nigeria has reached a pivotal moment in its energy transition and industrial development.
He urged government and industry stakeholders to prioritise value creation over resource extraction through stronger collaboration, early investment and bold policy decisions.
“As we celebrate 25 years of NOG Energy Week, this must be the moment Nigeria moves decisively from extraction to value creation. The future belongs to those who invest early, reform boldly and collaborate effectively,” he said.
The IPPG reaffirmed its commitment to partnering with the Federal Government, regulators and other industry stakeholders to build a resilient, investment-friendly energy sector capable of supporting sustainable economic growth, improving energy security and creating long-term value for Nigeria.
