Partnership & Corporate Governance Identified as Keys to Nigeria’s Oil and Gas Future

…Stakeholders Urge Indigenous Operators to Prioritize Energy Security

As the Nigerian Association of Petroleum Explorationists (NAPE) marked its 50th anniversary in Lagos under the theme “Pioneering the Future of Energy in Africa,” industry stakeholders emphasized that partnership, strong corporate governance, and human capital development are crucial to unlocking Nigeria’s oil and gas opportunities.

Indigenous Operators Must Step Up

With International Oil Companies (IOCs) continuing to divest from Nigeria’s onshore and shallow water assets, stakeholders noted that indigenous operators must assume greater responsibility in sustaining production and ensuring energy security.

However, they expressed concerns about capacity gaps that could slow progress if not addressed urgently. To attract capital and strengthen local participation, stakeholders urged the government to create an enabling environment with policy clarity, incentives, and reduced operational risks.

Energy Transition vs. Local Realities

While acknowledging the global push for energy transition, participants stressed that Nigeria’s immediate focus should remain local energy security. Fossil fuels—particularly natural gas—were identified as essential to economic development and industrial growth.

Governance & Credibility as Catalysts for Investment

Speakers underscored that strong corporate governance must become a priority for indigenous companies. Access to capital, they said, often hinges on the integrity, transparency, and credibility of company leadership.

They highlighted the importance of well-structured boards and transparent operations as key to attracting both local and international investment.

Collaboration & Technology to Unlock Opportunities

Stakeholders also called for increased collaboration to de-risk onshore and shallow water terrains, citing environmental, financial, and policy challenges as reasons for IOCs’ exit.

They emphasized the need for advanced seismic data and modern technological tools to uncover new production opportunities and optimize existing assets.

NNPC’s Strategic Role

The Nigerian National Petroleum Company Limited (NNPC Ltd) was identified as having a major role in guiding the industry towards achieving national oil and gas targets.

Industry experts further highlighted the urgent need to train young graduates in digital skills such as artificial intelligence, robotics, and data innovation, noting a widening talent gap in the sector.

NAPE President: “Nigeria Must Go Back to Exploration Basics”

In his welcome address, NAPE President Johnbosco Uche called for deliberate action to unlock Nigeria’s vast energy potential, especially in natural gas.

“Nigeria sits on a wealth of untapped potential, especially in natural gas, now universally recognized as a key transition fuel,” Uche said. “We have over 600 TCF of yet-to-be-discovered gas in Nigeria’s sedimentary basins. This represents an enormous opportunity and a strategic pathway to industrialization, energy security, and cleaner growth. Gas exploration must become intentional, and this is the era to look deeper and smarter.”

Uche urged the government to provide fiscal and regulatory incentives to support exploration and production. He stressed the importance of quality data, bold ideas, and collaborative innovation to boost reserves and meet the 2030 production targets.

Building Human Capital for the Future

On human capacity, Uche warned that Nigeria’s oil and gas workforce is aging rapidly.

“Every experienced professional was once a young graduate. The time has come to systematize internships, sabbaticals, and mentorship programs across the sector. We must invest in young professionals, equip them, and create pathways for talent development. Human capital is our most precious reservoir, and it must be developed.”

Call to Action

Uche concluded by urging government and industry players to embrace intentional collaboration in unlocking Nigeria’s energy potential. To young professionals, he expressed confidence in their capacity to lead, noting that their fresh ideas could unlock the next billion barrels