Experts in Nigeria’s oil and gas sector emphasized that government incentives are needed to attract investors to support ongoing reforms.
They spoke during the 2025 Investor Perception Survey presentation by Arbiterz Conferences and Good Governance Africa. Dr. Ogho Okiti, Managing Director of Africa Business Convention, acknowledged the government’s reform efforts but noted ongoing challenges hindering progress.
Dr. Okiti stated that to attract significant investment, Nigeria must align oil and gas reforms with national goals, provide incentives, address foreign exchange constraints, and focus on real sector growth, particularly in gas. He warned that without targeted incentives and infrastructure development, Nigeria could miss out on long-term opportunities in the gas sector.
Dr. Okiti highlighted the need for better inter-agency coordination and policy alignment with national development goals to restore investor confidence. Dr. Ayodele Oni, Partner at Bloomfield LP, echoed this, stressing the importance of predictability in Nigeria’s legal and regulatory environment and the need for capable personnel to ensure effective implementation.
Dr. Oni emphasized that investors need certainty and clarity, calling for better alignment among regulatory agencies and a more transparent judicial process to create a stable investment environment.
He stressed the importance of having the right people in key positions for effective policy implementation. Meanwhile, Mr. Toyin Akinosho, Publisher of Africa Oil & Gas Report, acknowledged the progress of recent reforms but cautioned that stakeholders remain cautious, citing Nigeria’s struggles with sustained policy execution compared to emerging markets like Qatar.Dr. Oni urged stakeholders to more strategically highlight success stories, like growing local capacity and untapped gas reserves, to improve international investor perceptions.
The investor perception survey reflects cautious optimism, driven by recent reforms like the Petroleum Industry Act (PIA) and Executive Orders, but tempered by concerns over implementation delays, regulatory inefficiencies, and structural challenges. Dr. Abimbola Agboluaje, Founder of Arbiterz Conferences, noted that respondents’ views are influenced both by past reform experiences and the current progress of the PIA and Executive Orders.Dr. Agboluaje noted that future survey results will increasingly reflect the real impact of the Petroleum Industry Act and Executive Orders, particularly their effectiveness in attracting investment.
Dr. Ola Bello, Executive Director of Good Governance Africa, highlighted the importance of data-driven policy dialogue in restoring investor confidence. He added that the survey sets the stage for the upcoming License to Energy event in September 2025, themed “Pitching Nigerian Gas to the World: How to Structure for Success and Unlock Investment in High-Value Gas Projects.”
