Independent Petroleum Producers To Partner Stakeholders On Oil & Gas Sectorial Growth

The Independent Petroleum Producers Group(IPPG) has promised to continue to partner relevant industry stakeholders towards the growth and development of the Nigerian oil and gas sector.

The chairman of the IPPG, Mr. Abdulrazaq Isa while speaking at the 6th edition of the Nigeria International Energy Summit (NIES) 2023 in Abuja, stated that, “the year 2023 promises to be a very important year for our industry; not only will our dear country be witnessing a political transition come May 2023, but we shall begin to see numerous changes across the entire oil and gas value chain.”

Isa restated that, his group has an important role to play going forward and are best placed to ensure the optimal development of Nigeria’s hydrocarbon resources as its members have demonstrated financial and technical capability to develop the country’s hydrocarbon resources, with proven appetite for supporting the government’s energy security vision through building a broader value-adding midstream and downstream businesses.

The group, while calling on the incoming administration to address the bottlenecks mitigating against industry growth and energy security, added that, “the administration’s agenda for the industry should be geared toward improving investor confidence through the effective implementation of the Petroleum Industry Act (PIA) and strengthening regulatory institutions.”

He also charged the incoming administration to arrest the menace of crude theft across the Niger Delta which still lingered in spite of the recent successes recorded by the federal government.

Isa listed others as: harnessing the nation’s hydrocarbon asset, particularly gas, to catalyse and rapidly industrialise the economy, building a broader value-creating midstream (gas processing plants) and downstream (refineries) and transforming Nigeria into a product supplier.

He emphasised the need to eliminate industry-wide subsidies for all hydrocarbon and refined products as they remain detrimental to the growth of a vibrant industry.

Since the establishment of IPPG in 2015, the group has achieved remarkable growth and remained focused on working with stakeholders for the development of the oil and gas industry for the benefit of the country.