NNPC Calls for Stronger Investment, Regional Cooperation to Boost Nigeria’s Energy Security
The company also emphasised the need for stronger partnerships among regulators, operators, investors, financial institutions and other stakeholders to build a resilient, competitive and inclusive energy industry.
The call was made at the Opening ceremony of the OTL Africa Downstream Energy Week in Lagos, which marks the 20th anniversary of the industry event in Lagos.
Speaking at the conference, Executive Vice President, (EVP) Downstream, NNPC Limited, Abdulmumuni Dagazau, congratulated the organisers on the milestone, describing OTL as an important platform for dialogue, collaboration and the advancement of Africa’s energy industry.
He said the conference theme, “Secure Energy, Shared Prosperity,” was timely because it encouraged stakeholders to look beyond immediate market challenges and focus on the broader role of energy security in driving economic growth and improving quality of life.
According to him, the theme also builds on the previous year’s focus on growing beyond boundaries and competition, signaling a shift from ambition towards collective action.
Dagazau noted that Nigeria’s energy advantage lies in its abundant natural resources, strategic geographical location and expanding domestic market, which position the country to meet rising local demand while strengthening its role in regional and global energy markets.
The EVP Downstream of NNPC said the growing adoption of mobility gas and other alternative energy options demonstrated how innovation and market development could expand consumer choices, improve affordability and strengthen energy resilience.
“Energy security is not only about supply; it is equally about creating options that meet the changing needs of our people and our by economy,” he said.
He added that infrastructure development alone would not guarantee sustainable energy security without supportive institutions, predictable regulations, adequate investment and partnerships that align public and private sector interests.
He said the Petroleum Industry Act (PIA) had established an important framework for reform, transparency and investment, but its success depended on the collective efforts of regulators, operators, financial institutions, business partners and consumers.
Dagazau therefore called for continued investment across the entire value chain, including refining, petrochemicals, storage, logistics, distribution and retail, noting that each segment contributes to the reliability and competitiveness of the energy system.
He also highlighted the importance of expanding gas infrastructure, describing it as central to supporting Nigeria’s downstream industry.
He identified initiatives such as the Midstream and Downstream Gas Infrastructure Fund, local content programmes and the open-access provisions of the PIA as mechanisms capable of unlocking investment and accelerating industry growth.
He urged stakeholders to strengthen these initiatives while ensuring that the benefits of energy development were shared broadly across society.
On regional integration, the EVP was of the view that collaboration across national borders would increasingly shape the future of Africa’s energy industry, adding that Nigeria’s downstream market was positioned to play a significant role in advancing regional trade.
He cited the Economic Community of West African States (ECOWAS) Trade Liberalisation Scheme as an existing framework supporting regional market integration and called for further efforts to expand cross-border cooperation.
He also identified the African Continental Free Trade Area (AfCFTA) as an opportunity to create larger markets, attract investment and improve the competitiveness of African energy businesses.
According to him, stronger regional cooperation could improve market access, unlock operational efficiencies and create new opportunities for sustainable economic growth.
“Secure energy becomes shared prosperity when policy, investment, infrastructure, regional cooperation and innovation work together,” he said.
He maintained that no single government, institution or company could achieve energy security independently, stressing the need for a common vision, sustained commitment and coordinated action across the industry.
The representative reaffirmed NNPC’s commitment to working with industry operators, investors, financial institutions and service providers to strengthen Nigeria’s downstream sector.
The ultimate objective was to ensure that industry growth translated into improved energy security and better outcomes for the millions of Nigerians and businesses that depend on the sector.
He maintained that no single government, institution or company could achieve energy security independently, stressing the need for a common vision, sustained commitment and coordinated action across the industry.
Dagazau reaffirmed NNPC’s commitment to working with industry operators, investors, financial institutions and service providers to strengthen Nigeria’s downstream sector.
He was of the view that the ultimate objective was to ensure that industry growth translated into improved energy security and better outcomes for the millions of Nigerians and businesses that depend on the sector.
