KEY POINTS
- NNPC urges sustained investment in refining, gas, storage and distribution.
- Stronger regulations and public-private partnerships are needed to improve energy security.
- ECOWAS and AfCFTA frameworks could expand regional energy trade and attract investment.
The Nigerian National Petroleum Company (NNPC) Limited has called for sustained investment across Nigeria’s petroleum industry and stronger regional cooperation to improve energy security, support economic growth and make energy more affordable.
Abdulmumuni Dagazau, NNPC’s executive vice-president for downstream, made the call at the opening ceremony of the 20th anniversary edition of OTL Africa Downstream Energy Week in Lagos on October 27, 2026.
He said Nigeria needed stronger partnerships among government agencies, regulators, oil and gas operators, investors, financial institutions and other industry stakeholders to build a resilient and competitive energy sector.
The event, held under the theme “Secure Energy, Shared Prosperity,” focused on the importance of reliable energy supplies and cooperation in delivering wider economic benefits.
Investment needed across the petroleum value chain
Dagazau said Nigeria’s energy potential was supported by its abundant natural resources, strategic location and expanding domestic market. However, he stressed that these advantages needed to be matched with adequate investment and infrastructure to meet rising demand.
He called for funding across the entire downstream value chain, including refining, petrochemicals, storage, logistics, distribution and retail.
According to him, investment in each of these areas is necessary to improve supply reliability, strengthen competition and build a more efficient petroleum market.
He also highlighted the importance of expanding gas infrastructure to support the growth of Nigeria’s downstream industry.
Dagazau identified the Midstream and Downstream Gas Infrastructure Fund, local content programmes and the open-access provisions of the Petroleum Industry Act (PIA) as important mechanisms for attracting investment and accelerating industry development.
He said these initiatives needed continued support to translate policy objectives into practical benefits for businesses and consumers.
Regulations and partnerships remain important
The NNPC executive said infrastructure development alone would not guarantee energy security without effective institutions, predictable regulations and cooperation between public and private sector participants.
He described the Petroleum Industry Act as an important framework for reform, transparency and investment but noted that its success depended on coordinated action by regulators, operators, financial institutions, business partners and consumers.
Dagazau also pointed to the growing adoption of mobility gas and other alternative energy options as evidence of how innovation could expand consumer choices and improve affordability.
He argued that energy security involved more than ensuring adequate supplies. It also required developing alternatives that could meet changing consumer needs and strengthen the country’s ability to withstand disruptions.
The NNPC official reaffirmed the company’s commitment to working with investors, industry operators and service providers to improve the performance of Nigeria’s downstream sector.
Regional cooperation could expand energy markets
Dagazau said cooperation between African countries would play an increasingly important role in the future of the continent’s energy industry.
He identified Nigeria’s large downstream market as an opportunity to strengthen regional petroleum trade and improve access to energy products across neighbouring countries.
He cited the Economic Community of West African States (ECOWAS) Trade Liberalisation Scheme as an existing framework for regional market integration.
He also highlighted the African Continental Free Trade Area (AfCFTA) as an opportunity to create larger markets, attract investment and improve the competitiveness of African energy businesses.
According to Dagazau, stronger cross-border cooperation could help companies operate more efficiently, expand market access and create additional opportunities for economic growth.
He stressed that no single government, institution or company could deliver energy security independently. Progress, he said, would require a shared vision, sustained investment and coordinated action across the industry.
NNPC links energy development to wider prosperity
The company’s call comes as Nigeria continues to pursue reforms and investment aimed at strengthening its domestic energy market and expanding the role of gas in the economy.
Dagazau said the ultimate objective should be to ensure that growth in the petroleum sector translates into more reliable energy supplies and better outcomes for households and businesses.
He maintained that policy, infrastructure, investment, innovation and regional cooperation must work together if Nigeria is to achieve lasting energy security and distribute its economic benefits more widely.
