The Society of Petroleum Engineers (SPE) Nigeria Council has called for greater regulatory certainty, increased investment, technology adoption and stronger collaboration to position Nigeria’s energy industry for sustainable growth amid the changing global energy landscape.
The call was contained in the communiqué issued at the conclusion of the 49th Nigerian Annual International Conference and Exhibition (NAICE 2026), held from August 3 to 5 at Eko Hotels and Suites, Victoria Island, Lagos.
Held under the theme, “Thriving in the Evolving Global Energy Landscape: Collaboration, Growth and Resilience,” the conference brought together policymakers, regulators, energy companies, investors, academics, researchers, students and other industry stakeholders from Nigeria and abroad.
The three-day conference featured keynote addresses, technical sessions, executive panels, workshops, exhibitions, research presentations and strategic networking engagements focused on the future of Nigeria’s energy industry.
SPE Urges Regulatory Certainty to Attract Energy Investment
The SPE Nigeria Council said Nigeria’s ability to attract and retain long-term capital would depend heavily on regulatory certainty, fiscal stability and consistent policy implementation.
The conference urged the government to strengthen implementation of the Petroleum Industry Act (PIA) while ensuring transparency, predictability and consistency in fiscal and operational policies.
It also called on regulatory agencies to maintain stable investment policies capable of supporting long-term capital inflows into Nigeria’s petroleum sector.
The recommendations come as Nigeria competes with other oil and gas jurisdictions for international capital amid changing investor priorities and the global energy transition.
According to the communiqué, transparent governance, predictable regulation, attractive fiscal terms and confidence in long-term policy consistency are increasingly influencing investment decisions across the global energy industry.
Indigenous Operators Take Greater Role in Nigeria’s Oil Industry
NAICE 2026 also highlighted the growing role of indigenous companies in Nigeria’s upstream petroleum sector.
The conference noted that Nigerian operators are increasingly taking over responsibilities historically managed by international oil companies (IOCs).
It said sustaining the transition would require continued investment in technical capabilities, technology, workforce development and access to finance.
The SPE Nigeria Council therefore urged indigenous operators to increase spending on digitalisation, innovation and workforce development while improving operational excellence and global competitiveness.
The conference also called on financial institutions and investors to develop innovative financing mechanisms capable of supporting indigenous producers and accelerating field development.
Collaboration Needed to Unlock Nigeria’s Energy Resources
Despite Nigeria’s substantial hydrocarbon resources, delegates noted that unlocking their full economic value would require deeper cooperation across the energy value chain.
The conference recommended stronger collaboration among government agencies, regulators, operators, oilfield service companies, financiers, universities and host communities.
Such collaboration, it said, should cover asset development, financing, infrastructure sharing, knowledge transfer and technology deployment.
The conference also urged oil and gas companies to prioritise production optimisation, cost reduction, operational efficiency and sustainable asset management rather than focusing primarily on acquiring additional assets.
AI, Digital Technology to Reshape Energy Operations
NAICE 2026 identified digital transformation as a critical driver of productivity and competitiveness in Nigeria’s energy industry.
The conference called for wider adoption of artificial intelligence, automation, data analytics, digital technologies and advanced engineering solutions across the petroleum value chain.
These technologies, it said, could improve productivity, enhance safety, strengthen accountability, reduce operating costs and support faster and better-informed decision-making.
The conference further noted that innovation and research would remain essential for addressing challenges in exploration and production, energy security, environmental sustainability and digital transformation.
435 Technical Papers Highlight Nigeria’s Research Capacity
A major feature of NAICE 2026 was the presentation of 435 peer-reviewed technical papers, which the conference said demonstrated the growing research capacity of Nigerian universities, research institutions and industry professionals.
The volume of technical research also reinforced the importance of stronger collaboration between academia and industry in solving practical challenges facing Nigeria’s energy sector.
The conference called for universities, research institutions and energy companies to expand collaborative research programmes focused on industry needs.
Human Capital Development Remains Critical
The conference identified human capital as one of the most important strategic assets for Nigeria’s energy industry.
Delegates called for greater emphasis on professional training, mentorship, succession planning, continuous learning and knowledge transfer to prepare the next generation of energy professionals.
Organisations were also encouraged to institutionalise leadership development and employee well-being programmes to build resilient and future-ready workforces.
The conference stressed that effective leadership should be founded on empathy, diversity, inclusion, emotional intelligence and employee welfare.
SPE Calls for Greater Opportunities for Women and Young Professionals
NAICE 2026 recognised the increasingly important role of women across technical, managerial and executive positions in the energy industry.
The conference called for expanded opportunities for women and young professionals, arguing that greater diversity would contribute to innovation, stronger decision-making and improved organisational performance.
It also recommended that industry stakeholders strengthen diversity, equity and inclusion initiatives alongside leadership development programmes.
SPE Nigeria Council Reaffirms Industry Leadership Role
The conference called on the SPE Nigeria Council to continue providing a platform for technical knowledge exchange, professional development, policy dialogue and collaboration among energy-sector stakeholders.
The council also expressed appreciation to the Federal Government, regulatory agencies, energy companies, sponsors, exhibitors, academic institutions, speakers, technical committees, volunteers and delegates for contributing to the success of NAICE 2026.
Special recognition was given to the Technical Papers Committee, session chairs, moderators, reviewers and members of the Committee of Heads of Petroleum Engineering Departments (CHPED) for their role in delivering the 435 technical paper presentations.
NAICE 2026 Sets Agenda for Nigeria’s Energy Sector
The conclusions from NAICE 2026 underscore a broader message for Nigeria’s energy industry: the country’s future competitiveness will depend not only on its hydrocarbon resources but also on its ability to attract capital, deploy technology, develop talent and maintain a predictable investment environment.
The conference reaffirmed the strategic importance of collaboration, innovation, resilience and human-capital development in navigating the evolving global energy market.
SPE Nigeria Council said stakeholders remained committed to advancing investment, technological innovation, operational excellence, leadership development and responsible energy development for the benefit of Nigeria and the wider global energy community.