IPPG hails Tinubu’s leadership in revitalizing Nigeria’s energy sector

• Published On: 05 March 2025 at 07:24

The Independent Petroleum Producers Group has expressed strong support for President Bola Tinubu's administration, lauding its policy reforms and leadership in transforming Nigeria's energy industry.

Speaking at the 8th Nigeria International Energy Summit (NIES 2025), IPPG Chairman Abdulrazaq Isa praised the government's efforts to boost industry growth, restore investor trust, and strengthen Nigeria's position in the global energy market.

The IPPG applauded President Tinubu's reform agenda for its significant impact on Nigeria's energy sector.

The Group emphasised that under his leadership, Nigeria has reached a significant milestone by meeting OPEC's production quota of 1.5 million barrels per day, which was made possible by improved security conditions in the Niger Delta.

"Notably, Nigeria has met OPEC's production target of 1.5 million barrels per day, thanks to improved security conditions in the Niger Delta.

"The administration has also secured multi-billion-dollar Final Investment Decisions (FIDs), unlocking major projects such as the NNPC Ltd & TotalEnergies' Ubeta Field Development and Shell's Bonga North, the first deepwater FID in over a decade," said the organisation.

The IPPG also praised the Decade of Gas Initiative, which has accelerated key gas development projects, increased LNG production, and strengthened gas-to-power efforts, bolstering Nigeria's position as a gas powerhouse.

Furthermore, continued deregulation in the downstream sector has increased product availability, market efficiency, and competitiveness.

"These achievements did not come easily and should not be taken for granted," Isa said, urging all stakeholders to remain committed to the industry's long-term sustainability and prosperity.

As Isa's tenure as IPPG Chairman comes to an end in June 2025, he emphasised the importance of Nigeria transitioning from a commodity-export-driven economy.

He advocated for a shift towards creating value in the midstream and downstream sectors in order to promote long-term growth and sustainability.

Isa also advocated for greater integration between the energy sector and industries such as petrochemicals, agriculture, power, manufacturing, and transportation, claiming that such collaboration would help Nigeria realise its full economic potential.

As international oil companies divest and hand over operational control to indigenous players, Isa reaffirmed IPPG's commitment to Nigerian industrialisation, job creation, and energy security enhancement.

"IPPG members now have a national responsibility and will act as worthy stewards, upholding global best practices and operational excellence" , Isa reported.