Nigeria’s oil and gas industry—long regarded as the backbone of the nation’s economy—was at the center of sharp reflections and strategic recommendations during the 2025 Annual Public Lecture and Symposium of the Nigeria Union of Journalists (NUJ), NAN Chapel, held at the NPA Sports Centre, Lagos.
With the theme “Transforming Energy: The Digital Evolution of Oil and Gas,” the event attracted policymakers, industry executives, academics, security chiefs, journalists, students, and a cross-section of the Nigerian public eager to engage with the pressing challenges and opportunities facing Africa’s largest oil producer.
Yusuf: Oil and Gas, Nigeria’s Lifeline and Achilles’ Heel
Delivering the keynote, Dr. Muda Yusuf, Chief Executive Officer of the Centre for the Promotion of Private Enterprise (CPPE), painted a picture of both promise and peril. He noted that the oil and gas sector, while contributing over 80 percent of foreign exchange earnings and nearly half of government revenues, has remained hobbled by structural inefficiencies, insecurity, policy flip-flops, and an investment climate that is far from competitive.
“Potential is not enough,” Yusuf declared. “If Nigeria is to reposition its oil and gas sector, we must move beyond rhetoric to bold implementation. With coherent policies, strong institutions, and digital transformation, Nigeria can restore investor confidence, boost production, and secure a prosperous energy future.”
He listed full implementation of the Petroleum Industry Act (PIA), enhanced security, transparent licensing processes, competitive fiscal incentives, and a stable foreign exchange policy as critical reforms. He also called for operational domestic refineries and a clear energy transition roadmap anchored on natural gas while scaling up renewable adoption.
The Digital Imperative: A New Lifeline
The most compelling part of Yusuf’s presentation was his insistence that digital transformation is now indispensable to Nigeria’s oil economy. According to him, global investors no longer consider digitalization optional; they demand data-driven transparency, accountability, and ESG compliance before committing capital.
He outlined how advanced technologies could reshape the industry:
- IoT and blockchain for real-time tracking and transparent transactions.
- Artificial intelligence and drones for monitoring production, reducing risks, and combating oil theft.
- Digital twins and big data analytics for asset valuation, predictive maintenance, and compliance with global standards.
“Digital systems don’t just improve efficiency,” Yusuf argued. “They rebuild trust in a sector long plagued by opacity. They make financing easier, operations safer, and growth more sustainable.”
But he was quick to warn of hurdles: weak digital infrastructure, fragmented regulatory frameworks, limited local skills, and escalating cybersecurity threats. Unless these are tackled, Nigeria risks being left behind in the global energy transition.
A Platform for Thought Leadership
Earlier in his welcome address, Mr. Yunus Yusuf, Chairman of NUJ-NAN Chapel, emphasized that the oil and gas industry was in the midst of a “profound digital evolution.”
“This is more than a buzzword,” he said. “It represents a fundamental shift in how energy is produced, managed, and delivered. Professionals and students alike must embrace this evolution—optimizing operations, improving safety, cutting costs, and ensuring environmental responsibility.”
The event’s distinguished attendees underscored its weight. Present were Malam Ali Muhammad Ali, Managing Director/CEO of NAN; Engr. Wole Ogunsanya, Chairman of PETAN (represented by Vice Chairman, Engr. Obidike Nelkon Uzu); Mr. Clement Isong, CEO of MEMAN; Dr. Ayodele Oni of Bloomfield Law Practice; and top law enforcement and media executives. Students and young professionals also took active part, reflecting the intergenerational importance of shaping Nigeria’s energy story.
A Call to Reinvent, Not Just Reform
Dr. Yusuf closed on a powerful note, urging stakeholders to see this moment as a historic opportunity.
“The scars of the past are real,” he said. “But with the right reforms and a digital leap, Nigeria’s oil and gas sector can become the driver of jobs, industrial growth, and a globally competitive energy future.”
As the symposium wrapped up, the message resonated clearly: Nigeria’s oil industry stands at a crossroads. Its future will depend on whether policymakers, professionals, and investors are bold enough to act.
At the NUJ-NAN 2025 Annual Lecture, Dr. Muda Yusuf urged Nigeria to fully implement oil reforms, embrace digital transformation, and restore investor confidence in its oil and gas sector.
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