The Independent Petroleum Group (IPPG) highlighted key investment areas as the government supports private sector participation in oil and gas. Applauding the completion of IOC divestments, IPPG noted that indigenous firms now contribute about 50% of Nigeria’s oil production.
Chairman Abdulrazaq Isa, speaking at the 8th Nigeria International Energy Summit, emphasized members’ role in industrialization through investments across various sectors. He called the divestment a turning point, positioning indigenous companies to drive economic transformation toward a trillion-dollar economy.
IPPG also backed the domestic crude supply obligation for energy security and value creation.As the global energy landscape evolves, Africa—led by Nigeria—must take control of its energy future to tackle persistent challenges, said IPPG Chairman Abdulrazaq Isa.
He highlighted the positive impact of policies introduced by the Tinubu administration, citing the Decade of Gas Initiative, which has advanced LNG production, gas-to-power projects, and the Presidential CNG Initiative.Isa noted key achievements, including meeting Nigeria’s OPEC quota of 1.5 million barrels per day, improved security in the Niger Delta, and $5.5 billion in Final Investment Decisions (FIDs) on major projects.
He also emphasized investor confidence from settled gas debts and ongoing bid rounds for sustainable production.The recent IOC divestments, he added, demonstrate indigenous firms’ capability to manage assets effectively.
