IPPG Calls For Coordinated Reforms To Make Nigeria’s Oil Industry Globally Competitive

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

Speaking at the opening of the 25th NOG Energy Week in Abuja, IPPG Chairman, Adegbite Falade, commended the federal government for reforms that have boosted investor confidence, increased crude oil production and attracted significant upstream investments.

Falade said Nigeria’s improving production profile and record investment commitments reflect the positive impact of collaboration among the government, regulators and industry players.

He, however, stressed that the country must build on the momentum by investing in critical infrastructure, accelerating gas development and strengthening the entire energy value chain to maximise economic value.

According to him, recent geopolitical disruptions have demonstrated that countries lacking adequate production and processing capacity are unable to take advantage of emerging global 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 urged the government to create a more competitive operating environment by harmonising multiple taxes and levies across the sector, sustaining investments in critical infrastructure and human capital development, and reviewing the Petroleum Industry Act to reflect evolving industry realities while consolidating recent reform gains.

“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,” he added.

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