The Federal Government has reaffirmed its commitment to optimising existing assets in the oil and gas sector as part of efforts to boost production and strengthen Nigeria’s energy output.
The Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, made this known on Thursday at the 26th Oloibiri Lecture Series and Energy Forum organised by the Society of Petroleum Engineers Nigeria Council.
The forum, which commemorates the 1956 discovery of commercial oil in Oloibiri, focused on strategies to enhance efficiency and productivity in the sector.
Speaking on the theme, ‘Beyond the Three Million Barrels Target: Harmonising Digitalisation, Capital, and Policy Frameworks for Intelligent Operations and Asset Optimisation,’ Ekpo stressed the need for a coordinated approach to achieving higher output.
He said increasing production would depend on the deliberate integration of digital technologies, sustained capital investment and strong policy frameworks.
“Digitalisation is transforming oil and gas operations through artificial intelligence, predictive analytics and automation.
“These technologies improve efficiency, reduce downtime, enhance safety and lower operational costs across the value chain.
“Government remains committed to supporting digital integration to keep Nigeria competitive in the global energy space,” he said.
Ekpo also highlighted the importance of investment, noting that capital remains critical for maintaining and expanding infrastructure, especially in a rapidly evolving global energy landscape.
According to him, ongoing regulatory reforms and executive directives are improving governance and enhancing the ease of doing business in the sector.
He added that initiatives under the Decade of Gas programme are aimed at expanding infrastructure, increasing domestic gas utilisation and driving industrialisation.
The minister further emphasised the need for environmental sustainability, including efforts to reduce emissions, eliminate gas flaring and adopt low-carbon technologies.
Also speaking, the Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, Saidu Mohammed, called for stronger institutional capacity and policy frameworks to support growth in the sector.
Mohammed said Nigeria’s ambition to exceed three million barrels of oil per day and 22 billion cubic feet of gas production would require significant and sustained investment.
“Large-scale investments in assets capable of delivering substantial volumes are critical to achieving these targets,” he said.
He observed that shifting global energy dynamics are increasingly positioning Africa as a preferred destination for hydrocarbon investments.
“Recent global crises highlight Africa’s importance in the energy mix, with investment flows increasingly tilting towards the region.
“Available funding is returning to fossil fuel development, and Nigeria must seize this opportunity to expand production.
“Higher output requires policies that simplify processes, boost investor confidence and encourage capital inflows,” he added.
Mohammed disclosed that the authority would soon launch “Project Nexus,” an initiative designed to modernise regulatory processes through technology and automation.
He explained that the project would align Nigeria’s operations with global best practices while ensuring a more sustainable and efficient energy supply system.
He also urged industry operators to collaborate in building a unified network system with clearly defined operational codes to enhance efficiency and accountability.
According to him, Nigeria must move away from outdated systems and embrace modern, integrated solutions to fully realise its energy potential.
