NAICE 2025: Oil Industry Stakeholders to Chart Pathway to Nigeria’s $1 Trillion Economy

.Lokpobiri, Ekpo, Ojulari, Komolafe to lead discussions 

Peter Uzoho 

Stakeholders in the Nigerian oil and gas industry including asset operators, investors, policy makers and regulators will next week in Lagos engage in robust discussions on ways the sector can support the federal government in achieving its $1 trillion economy target by 2030.

At this year’s Nigerian Annual International Conference and Exhibition (NAICE) organised by the Society of Petroleum Engineers (SPE) Nigeria Council, the two Ministers of State for Petroleum Resources – Heineken Lokpobiri (Oil) and Ekperikpe Ekpo (Gas) will lead discussions at the event. 

The conference with the theme, ‘Building a Sustainable Energy Future: Leveraging Technology, Supply Chain, Human Resources, and Policy’, will also have the Chief Executive Officer of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Gbenga Komolafe; Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Limited (NNPC), Bayo Ojulari, amongst others setting the tone for deliberations at the summit.

Announcing the upcoming event at a press conference in Lagos, Chairman of the SPE Nigeria Council, Dr. Amina Danmadami, said the theme of the conference challenges industry stakeholders to connect four critical pillars including technology, supply chair, human resources, and policy, adding that the 2025 theme was a blueprint for Nigeria’s energy future.

Specifically on policy, Danmadami stressed the need to align oil and gas regulatory frameworks with investor confidence, supporting the $1 trillion economy aspiration, and ensuring that Nigeria’s energy policies are globally competitive and locally relevant.

According to her, SPENAICE 2025 comes at a critical moment for Nigeria’s energy industry—a moment of transition, opportunity, and responsibility.

She maintained that the theme was also a call to action for both the oil and gas industry and the nation, pointing out that globally, energy systems are transforming under the twin pressures of climate imperatives and technology shifts.

Danmadami added that locally, Nigeria faces the task of balancing economic growth, energy security, and the global transition to low-carbon solutions.

In the area of technology, she noted discussions shift from digital oilfields to enhanced recovery and from modular gas processing to pipeline surveillance technologies, stating that technology will be the engine of efficiency and sustainability.

On the supply chain, she said speakers will brainstorm on strengthening local content; building resilient, cost‑efficient project delivery systems; reducing dependence on imports and FX pressures.

In the area of human resources, the SPE Chair said discussions will centre around retaining and retooling Nigerian talent in the era of energy transition; providing youth pathways, technical upskilling, and inclusion for women.

On policy, Danmadami said conversations at the conference will look at ways of “aligning regulatory frameworks with investor confidence, supporting the $1 trillion economy aspiration, ensuring Nigeria’s energy policies are globally competitive and locally relevant.”

Noting Nigeria’s energy ambition vis a vis the role of SPE and in a $1 trillion economy, she argued that today, Nigeria produces around 1.75 million barrels per day of crude oil and condensates.

She noted that the national target is to grow to 2.7 million bpd by 2030, while maximising the country’s 209 trillion cubic feet of gas reserves as the transition fuel of choice.

“From an SPE perspective: achieving these targets will require enhanced field recovery, gas monetisation, infrastructure reliability, and pipeline security.

“SPENAICE 2025 will showcase technical insights and practical solutions that support Nigeria’s energy security and economic growth goals,” Danmadami said.

Reflecting on the divestments in the Nigerian oil and gas industry, which she described as a defining chapter for local content, Danmadami observed that over the past year, Nigeria has witnessed historic divestments by international oil companies (IOCs) from onshore and shallow water assets.

“This is a defining chapter in our energy story: It tests the capacity of indigenous operators. It demands retention and redeployment of human capital, and it creates opportunities for deepening local content and technical independence.

“SPE Nigeria is responding by providing neutral platforms for knowledge exchange, equipping professionals for the operational and commercial realities of new asset ownership, fostering collaboration between local operators, service providers, and global technology partners,” she said.

Aside from oil, Danmadami said gas, infrastructure, and the path to sustainability would be extensively discussed at the conference.

According to her, Nigeria’s gas wealth is the bridge to a lower‑carbon economy while gas monetisation for power generation and industrial use is essential to the country’s energy security.

She added that pipeline infrastructure and processing capacity must expand to capture flare gas, enable exports, and support the domestic market.

Other high-profile speakers at the conference, according to the SPE Chair, are Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Farouk Ahmed; Managing Director of Heirs Energies, Osa Igiehon; Managing Director of FIRST E&P, Ademola Adeyemi-Bero; as well as chief executives of IOCs, and other independent producers.