Ministry, Stakeholders Recommit To PPP Policy

The Ministry of Petroleum Resources and other oil and gas sector stakeholders have reaffirmed their commitment to advancing Nigeria’s Public-Private Partnership (PPP) Policy as a sustainable strategy for driving economic growth and addressing critical infrastructure deficits.

Speaking at the Stakeholders’ Workshop on Public-Private Partnerships in the Nigerian Oil and Gas Sector, organised by the Ministry of Petroleum Resources yesterday in Abuja, the permanent secretary of the Ministry, Amb. Nicholas Agbo recalled the launch of the Public-Private Migration Policy in 2012.

The event, themed “Sustainable Future for Nigeria’s Oil and Gas Industry: Concepts, Opportunities, and Challenges of PPP Initiatives”, provided a platform for exploring ways to leverage PPPs for national development.

Agbo noted that the 2012 policy initiative was introduced to use private sector expertise, financial resources, and technical capabilities to deliver infrastructure projects critical to Nigeria’s growth.

“The Public-Private Migration Policy emerged when the Federal Government of Nigeria recognised that it could no longer bear the full financial burden of providing the infrastructure necessary for the country’s economic growth. To sustain progress, the collaboration between the private sector and government through PPPs was deemed critical,” he said.

He explained that the policy aims to create a framework for applying private sector investment and expertise to sectors such as energy and health, enabling projects that enhance economic productivity and improve the quality of life for Nigerians.

Agbo emphasised that the PPP framework remains a cornerstone of sustainable development in Nigeria, calling for increased stakeholder engagement to optimise private sector contributions in addressing infrastructure challenges.

“The administration of private sector finances and expertise, in collaboration with government efforts, ensures the efficient delivery of critical projects. This synergy has been instrumental in enabling the development of vital sectors, including oil, gas, and health,” he stated.

Participants at the workshop explored innovative approaches to implementing PPPs, focusing on creating a sustainable future for the oil and gas sector. Discussions included adopting renewable energy solutions, reducing carbon emissions, and fostering job creation through local content initiatives.

Edet Asuquo, the technical manager at Afric Energy and Infrastructure Ltd, expressed optimism about PPPs’ potential to transform the industry.

He described the engagement as a much-needed “awakening” for the private and public sectors. According to him, the initiative is akin to the regular spiritual rejuvenation provided by faith-based gatherings, emphasising the significance of ongoing dialogue and collaboration in the oil and gas industry.

“This kind of engagement is necessary because it acts as an awakening—just like you go to church on Sundays or mosque every Friday. It serves as a reminder for the private sector to recognise that they have the right partners in the public sector,” he said.

He also highlighted the reciprocal responsibilities of the public sector in fostering an enabling environment and the private sector in leveraging opportunities for growth and innovation.

“Individuals and organisations are ready to collaborate to ensure the critical oil and gas sector functions efficiently. Such partnerships are essential for addressing infrastructure challenges, improving operations, and ensuring sustainable growth in this vital sector,” he added.

He emphasised that the workshop would foster continued public-private cooperation, implement actionable recommendations, and support policies that promote the long-term growth and sustainability of the oil and gas sector.

“This event reinforces the importance of collective efforts in navigating the evolving energy landscape and securing a resilient future for Nigeria’s economy,” he said.