Stakeholders in Nigeria’s oil and gas industry have highlighted the potential of recent fiscal reforms, particularly the Nigeria Tax Act 2025, to unlock value across the country’s energy value chain if effectively implemented.
The remarks were made during the 2026 Oil and Gas Symposium organised by the Nigerian Institution of Petroleum Engineers (NIPetE) in Abuja, where engineers, policymakers, fiscal experts, and industry practitioners gathered to examine pathways for sustainable growth in the sector.
In her opening address, NIPetE National Chairman, Dr Yetunde Aladeitan, emphasised the need to move Nigeria’s energy sector away from crude oil dependency toward innovation-led, value-driven growth. She urged stakeholders to align with global trends and prioritise value optimisation over crude exports.
The virtual symposium, themed “Beyond the Barrel: Tax Reforms, Value Chain Optimization, and the Future of Nigerian Energy,” featured insights from the Nigerian Society of Engineers, represented by Deputy President Valerie Agberagba, who stressed the importance of diversifying Nigeria’s energy ecosystem through gas development, engineering efficiency, and sound fiscal policies.
Delivering the keynote address, Abudukerimu Sule, representing Momoh Oyarekhua, outlined investment opportunities emerging from the Nigeria Tax Act 2025, noting its potential to improve upstream efficiency, attract local and foreign investments, and strengthen Nigeria’s competitiveness in the global energy market.
A panel session featuring experts including Ehimhen Okoh-Agunloye, Bukola Olusola, Adesola Adebawo, Eyono Fatai-Williams, and Abayomi Abiona, examined gas transition strategies, midstream and upstream optimisation, fiscal incentives, and the role of engineering innovation in sustainable energy development.
Participants concluded that effective implementation of policy reforms remains critical to translating fiscal measures into tangible outcomes that enhance value creation, investment, and long-term sector growth.
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I think stakeholders should prioritize transparency and accountability over profits in the oil and gas industry. What do you all think?
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Is innovation really the answer? Maybe its time for a complete overhaul of the system. Just a thought 🤔
I wonder if these stakeholders are truly committed to innovation or just talking. Actions speak louder than words!
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I think the stakeholders should focus on sustainable solutions instead of just maximizing profits. Innovation can lead to long-term benefits for all.