LAGOS, Nigeria — Nigeria must accelerate gas development, strengthen energy security and improve investment competitiveness if it is to emerge as a leading global energy supplier amid growing geopolitical uncertainty and rising global energy demand, the Chief Executive Officer of Seplat Energy Plc, Effiong Okon, said on Monday.

Speaking at the opening of the 49th Nigeria Annual International Conference and Exhibition (NAICE 2026) organised by the Society of Petroleum Engineers (SPE) in Lagos, Okon said the evolving global energy landscape presents Nigeria with a rare opportunity to attract capital and strengthen its role in international energy markets.

Delivering his keynote address, titled “Collaborative Growth and Resilience in an Evolving Global Energy Landscape,” Okon said reliable and affordable energy remains the foundation of economic growth, industrialisation and job creation, stressing that collaboration among governments, regulators, investors and operators will determine how countries respond to shifting global energy dynamics.

“Energy systems do not move by slogans. They depend on infrastructure, capital, technology, sound policy and disciplined execution,” he said.

Okon said recent conflicts in Europe and the Middle East, attacks on energy infrastructure and disruptions to global shipping routes have reinforced the strategic importance of energy security.

He noted that disruptions along the Strait of Hormuz, one of the world’s busiest oil transit routes, have exposed vulnerabilities in global supply chains and increased pressure on energy markets.

According to him, although global crude production has begun to recover, refined fuel markets remain tight, creating opportunities for reliable producers such as Nigeria to strengthen their position in international markets.

“The world is asking who can deliver energy reliably when global supply systems are under pressure. This is Nigeria’s moment to lead by improving production reliability, securing infrastructure, expanding gas development and supplying more energy products to global markets,” Okon said.

The Seplat CEO identified natural gas as the country’s most important strategic asset, describing it as the fuel that can drive industrialisation, electricity generation, manufacturing and cleaner energy development.

He said Nigeria should focus on expanding gas processing capacity, improving pipeline infrastructure, increasing gas-to-power projects and supporting industries such as fertiliser, petrochemicals, compressed natural gas (CNG), liquefied petroleum gas (LPG) and exports.

“Gas is not simply Nigeria’s transition fuel. It is Nigeria’s industrialisation fuel,” he said.

Okon argued that Nigeria’s energy transition should focus on “energy addition rather than energy subtraction,” combining oil, gas and renewable energy to meet rising domestic demand while supporting economic development.

He added that reliable electricity will also be critical if Nigeria hopes to attract investments in artificial intelligence, digital infrastructure, data centres, fintech and advanced manufacturing.

Okon said global investors are increasingly directing capital towards jurisdictions that combine competitive production costs with strong governance, operational efficiency, lower carbon intensity and predictable regulatory environments.

“The era of credible execution has begun,” he said, noting that investors are looking beyond resource availability to countries capable of delivering projects efficiently and sustainably.

He urged Nigeria to improve infrastructure reliability, shorten project approval timelines, strengthen policy consistency and deepen collaboration between government agencies and private investors.

Okon used the conference to outline Seplat Energy’s recent operational performance, saying the company increased average working-interest production by 148% in 2025 to 131,506 barrels of oil equivalent per day following the integration of new assets.

He disclosed that Seplat restored 49 previously idle offshore wells, adding approximately 48,600 barrels of oil equivalent per day in gross production capacity, while expanding its resource base to about 2.49 billion barrels of oil equivalent.

On natural gas, he said Seplat processed 172 million standard cubic feet per day (MMscfd) in 2025 and currently supplies up to 30% of the gas used for Nigeria’s grid-connected power generation.

He added that the company’s ANOH Gas Processing Plant, which commenced operations in January 2026, has continued to ramp up production despite condensate evacuation challenges.

According to Okon, Seplat’s financial and operational performance in the first half of 2026 indicates the company is on course to surpass its 2025 results.

To strengthen Nigeria’s competitiveness, Okon proposed a five-point agenda for the industry, including improving infrastructure reliability, accelerating gas commercialisation, producing lower-cost and lower-emission hydrocarbons, strengthening collaboration among stakeholders and investing in human capital development.

He also reaffirmed Seplat Energy’s support for the Federal Government’s ambition of increasing national crude oil production to 3 million barrels per day by 2030, alongside expanding natural gas production.

“Nigeria has the resources. Africa has the demand. The world needs secure, affordable and progressively cleaner energy,” Okon said. “The challenge before us is whether we can execute with the discipline, speed and resilience that this moment demands.”

He added that Seplat remains committed to partnering with government, regulators, host communities and investors to advance responsible oil production, gas-led industrialisation and sustainable energy development across Nigeria and Africa.