FG: Oil, Gas Sector Remains Key Driver of Nigeria’s Economy 

The Permanent Secretary, Ministry of Petroleum Resources, Dr. Emeka Obi, has reiterated that the oil and gas sector remains the principal driver of Nigeria’s economy, contributing significantly to national revenue, even amid the growing global momentum towards energy transition.

According to a statement by the head, Press and Public Relations in the ministry, Chris Ugwuegbulam, Obi made this assertion in Abuja during his opening remarks at the 60th meeting of the Consultative Committee on Petroleum Statistics (CCPS), a two-day engagement organised by the Ministry of Petroleum Resources and hosted by the Petroleum Technology Development Fund (PTDF).

Emphasising the centrality of data in shaping decisions related to exploration, production, pricing, and the broader energy transition agenda, Obi stressed that the need for dependable data to guide decisions in the sector cannot be over-emphasised. 

“Your role as a committee is vital, not only in bridging gaps within the data ecosystem but also in standardising methodologies, validating sources, and fostering trust among both local and international stakeholders in the oil and gas industry,” he said.

He lauded the committee’s continuous efforts across various agencies and parastatals in ensuring the production of accurate, timely, and credible data for national use. Dr. Obi encouraged members to approach their deliberations with purpose, share insights, and pursue actionable outcomes capable of advancing the sector.

“This is an opportunity to strengthen a data ecosystem we can all be proud of, one that upholds transparency, accountability, efficiency, and pragmatism,” he added.

In his welcome remarks, the Chairman of the CCPS and Director of Planning, Research and Statistics (PRS) at the ministry, Usman Abdulkadir, noted that the CCPS was initiated to drive the generation of petroleum-related data for policy planning, academic research, and economic forecasting.

Also speaking at the event, the Executive Secretary of the PTDF, represented by the Deputy General Manager, Strategic Planning and Documentation, Mr. Muhammad Haruna, described the meeting as integral to strengthening the accuracy and quality of petroleum data in Nigeria.