Independent Producers Urge Coordinated Reforms for Oil Sector’s Global Competitiveness

The Independent Petroleum Producers Group (IPPG) has called for coordinated reforms to reposition Nigeria’s oil and gas industry from a resource-based economy to a globally competitive engine of industrial growth and national prosperity.

Speaking at the opening ceremony of the 25th NOG Energy Week in Abuja, IPPG chairman, Adegbite Falade, commended the federal government for reforms that have revitalised investor confidence, increased oil production and attracted significant upstream investments. He noted that Nigeria’s improving production profile and record investment commitments demonstrate the impact of collaborative efforts between government, regulators and industry.

Despite this progress, Falade stressed that Nigeria must seize the moment by investing in infrastructure, accelerating gas development and strengthening the entire energy value chain to maximise economic value. He warned that recent global geopolitical disruptions have shown that countries without sufficient production and processing capacity are unable to capitalize on emerging opportunities.

“Our ambition must extend beyond producing more barrels. Success should be measured by the industries we build, the jobs we create, the value we retain and the prosperity we deliver for Nigerians,” Falade said.

The IPPG Chairman also called for a more competitive operating environment, including the harmonization of multiple taxes and levies across the sector, sustained investment in critical infrastructure and talent development, and a comprehensive review of the Petroleum Industry Act to reflect evolving industry realities and consolidate recent reform initiatives.

“As we celebrate 25 years of NOG Energy Week, this must be the moment Nigeria moves decisively from extraction to value creation. The future belongs to those who invest early, reform boldly and collaborate effectively,” the IPPG chairman said.

IPPG reaffirmed its commitment to working with government, regulators and industry stakeholders to build a resilient, investment-friendly energy sector capable of driving sustainable economic growth and long-term energy security.