KEY POINTS
- Oando reaffirmed support for indigenous oil producers during a meeting with IPPG leadership.
- Local firms now produce more than half of Nigeria’s crude oil output.
- Industry leaders call for stronger collaboration and policy engagement to sustain growth.
Oando Energy Resources has reaffirmed its support for Nigeria’s indigenous oil producers as local firms continue to take on a greater role in the country’s upstream sector.
The company made this known during a high level visit by Adegbite Falade, chairman of the Independent Petroleum Producers Group and managing director of Aradel Holdings.
The meeting centered on strengthening collaboration among indigenous producers and improving coordinated advocacy within the industry as Nigerian owned companies assume more responsibility for national oil output.
Local firms now dominate national production
Falade noted that the structure of Nigeria’s upstream oil industry has changed significantly over the past decade, with indigenous producers gradually becoming the dominant players.
He said companies under the Independent Petroleum Producers Group now account for more than half of Nigeria’s oil production, reflecting a major shift in the sector.
According to him, Oando has remained a key contributor to this progress and continues to strengthen the voice of indigenous operators in industry engagements.
Falade also praised the leadership of Oando Plc, including group chief executive Wale Tinubu and deputy group chief executive Omamofe Boyo, for their consistent support to the group and the wider industry.
The IPPG chairman acknowledged Oando’s support during the group’s tenth anniversary activities, noting that the company contributed resources and manpower to ensure the success of the programme.
In response, Oando Energy Resources managing director Ainojie Irune reaffirmed the company’s long term commitment to strengthening the capacity of indigenous operators in Nigeria’s oil and gas sector.
Irune said disciplined execution, strong governance, and coordinated industry advocacy will be essential as local companies lead the next phase of upstream development in Nigeria.
Industry leaders at the meeting emphasized the importance of deeper collaboration and stronger institutional structures as indigenous producers expand their influence across the sector.
Falade said the next stage for the industry will involve sharper advocacy and more deliberate engagement with policymakers so that regulations reflect operational realities in the field.
Irune welcomed ongoing efforts to strengthen the leadership framework within the Independent Petroleum Producers Group, noting that strong institutions will play a crucial role as the industry adapts to evolving regulatory and market conditions.
