BY CHIKA OKEKE, Abuja
The Federal Government has called on investors to embrace technological innovation, environmental responsibility and measurable value to Nigerians, adding that petroleum development must be accompanied by efficient dealings.
Permanent Secretary, Federal Ministry of Petroleum Resources, Mrs. Patience Oyekunle stated this at the fourth edition of Africa Climate Forum (ACF) in Abuja, with the sub-theme: “Nigeria’s Approach to Sustainable Petroleum Development.”
Recently, Nigeria launched its 2026 licensing round, offering 40 oil and gas blocks, while pursuing strategic reforms to unlock additional production and investment, as the government cannot deliver sustainable petroleum development alone.
Oyekunle said that Africa must be allowed to utilise its resources responsibly, as attaining a sustainable energy future for Africa requires the inclusion of millions of people with reliable and affordable energy.
She added: “Government must provide clear policy, predictable regulation and appropriate incentives. Industry must deploy capital, technology and best practices. Financial institutions must develop instruments capable of financing transition. Research institutions must provide innovation. Communities must be meaningfully engaged and development partners must support Africa with appropriate technology, capacity and climate finance.
Represented by Deputy Director, Midstream & Downstream Department, Emmanuel Okon, the PS hinted that the ministry is fully committed to a more prosperous, secure and lower-carbon Nigeria, without leaving anyone behind.
Oyekunle was optimistic that Nigeria’s petroleum industry could provide climate solutions, adding that though hydrocarbons impact on the environment, but responsible production, methane reduction, gas utilisation, carbon management, efficiency and progressive diversification could substantially mitigate the consequences while supporting development.
She invited other government agencies and partners in the industry, finance, technology and development sector to join Nigeria in transforming its vision into investment, innovation and measurable outcomes.
“Let us move together – from commitments to implementation, from resources to responsible value creation, and from climate ambition to green outcomes that improve lives,” she added.
She praised the Global Centre for Law, Business and Economy for initiating the ACF especially at a time when Africa must move decisively from climate commitments to practical implementation.
The PS harped on the need for Nigeria to actively pursue a pragmatic pathway for energy transition, while reducing environmental footprint and using the revenues to accelerate the transition to a cleaner and more diversified energy system.
As at 1 January 2026, Nigeria produced approximately 37.01 billion barrels of 2P crude oil and condensate reserves, as well as 215.19 trillion cubic feet of 2P natural gas reserves, retaining its position as a major oil and gas producer globally.
To this end, the Federal Government is strengthening the regulatory and investment environment under the Petroleum Industry Act (PIA) while seeking higher production, improved asset integrity, greater transparency and sustainable operations.
Oyekunle pointed out that Nigeria's crude oil and condensate production reached about 1.68 million barrels per day in August 2026, demonstrating improving operational performance, adding that sustainable petroleum development reduces emissions at source.
Nigeria is strengthening its focus on methane and greenhouse-gas management. The upstream regulator has directed operators towards measurement-based methane and GHG reporting and credible Measurement, Reporting and Verification systems, reflecting the growing importance of verifiable emissions reductions.
She hinted that the Federal Government is determined to transform gas from a frequently underutilised resource into an engine of sustainable development, noting that gas supports power generation, LPG and CNG utilization; LNG, petrochemicals and other value chains, providing an important bridge in Nigeria's transition towards a lower-carbon energy future.
Through the Nigerian Gas Flare Commercialisation Programme, the Federal Government is pursuing technically and commercially sustainable projects that convert flare gas into productive economic value, and improving environmental outcomes in oil-producing communities.
The PS informed that sustainability requires that Nigeria’s petroleum resources must contribute to domestic economic value creation, as the ministry strengthens domestic crude supply to local refineries.
In the second quarter of 2026, approximately 53.7 million barrels of crude were supplied to local refiners, representing 97.4 percent performance against the applicable supply framework.
This supports the broader objective of moving from an economy that exports crude and imports products to one that increasingly refines, manufactures and adds value domestically.
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