LAGOS, Nigeria — The Society of Petroleum Engineers (SPE) Nigeria Council has called on industry leaders, policymakers and investors attending the 49th Nigeria Annual International Conference and Exhibition (NAICE 2026) to focus on practical, implementable solutions that will strengthen Nigeria’s position as a globally competitive energy investment destination.
Speaking at the opening ceremony of NAICE 2026 in Lagos, SPE Nigeria Council Chairman Francis Nwaochei said the country’s long-term energy success will depend not only on its vast hydrocarbon resources but also on its ability to develop innovative technical solutions, provide stable leadership, strengthen institutions and implement predictable policies that attract investment.
“Nigeria’s energy future will be determined not only by the resources beneath our soil, but by how we develop solutions to our unique energy challenges, the quality of our leadership, the strength of our institutions, the clarity of our policies, our willingness to innovate and our commitment to collaboration,” Nwaochei said.
He urged participants to use the three-day conference to challenge conventional thinking, share industry best practices, strengthen partnerships, promote indigenous capacity and develop solutions capable of delivering long-term value to Nigeria’s energy sector.
Collaboration and resilience at the centre of energy transition
The conference is themed “Thriving in the Evolving Global Energy Landscape: Collaborative Growth and Resilience.”
According to Nwaochei, the theme reflects the realities confronting the global energy industry as countries balance energy security, affordability and sustainability while responding to rapid technological advances, digital transformation, artificial intelligence, decarbonisation and operational efficiency.
He described resilience as the ability to adapt to disruption without losing strategic direction, noting that collaboration and innovation will determine which countries remain competitive in the global energy market.
“For Nigeria, resilience means increasing production responsibly, commercialising gas at scale, improving the ease of doing business, strengthening regulatory coordination, deepening local content, attracting long-term capital and ensuring the energy industry continues to create value for the economy and society,” he said.
He added that discussions at NAICE 2026 should move beyond identifying industry challenges to producing actionable recommendations that improve Nigeria’s competitiveness and investment appeal.
Nigeria’s energy reforms gaining momentum
Nwaochei said recent policy and regulatory developments indicate that Nigeria’s energy sector is entering a new phase of reform aimed at restoring investor confidence.
Among the milestones he highlighted were the successful completion of recent oil and gas licensing rounds, including the 2025 Licensing Round, in which 31 companies secured 37 oil and gas blocks, signalling renewed investor interest and greater transparency in asset allocation.
He also cited the Federal Government’s Decade of Gas initiative, which seeks to leverage Nigeria’s extensive natural gas reserves to accelerate industrialisation, improve electricity supply, expand cleaner energy access and diversify the economy.
In addition, he pointed to the Federal Government’s proposed ₦4 trillion government-backed bond designed to clear verified debts owed to electricity generation companies and gas suppliers, describing the initiative as a significant step toward restoring liquidity and improving bankability across Nigeria’s power and gas value chain.
Stronger policy alignment to attract investment
Nwaochei said recent policy direction from Nigeria’s energy leadership demonstrates a growing commitment to creating an investor-friendly environment capable of supporting higher production and long-term capital inflows.
He noted that the Minister of State for Petroleum Resources (Oil) has consistently emphasised the importance of transparency, regulatory certainty and production growth in returning Nigeria to the global energy investment map.
Similarly, the Minister of State for Petroleum Resources (Gas) has positioned the Decade of Gas programme as a national economic strategy to drive industrial development and support the country’s energy transition.
He added that key industry institutions—including NNPC Limited, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA)—have aligned around priorities such as regulatory efficiency, gas expansion, technology deployment, capital attraction and increasing crude oil production capacity to 3 million barrels per day by 2030.
“These are not isolated statements,” Nwaochei said. “Together, they reflect a shared national direction aimed at strengthening Nigeria’s competitiveness in the evolving global energy landscape.”