- Nigeria reaffirms its commitment to optimising oil and gas resources under a deregulated market.
- The 2025 OTL Africa Energy Week champions sustainability, transparency, and innovation in the downstream industry.
The key phrase, ‘Nigeria committed to optimising oil resources,’ highlights the country’s growing determination to transform its energy sector as it maximises its crude oil and gas potential while ensuring sustainable and transparent operations.
The OTL Africa Downstream Energy Week Advisory Board Chairman, Tunji Oyebanji, emphasised this commitment ahead of the 19th OTL Energy Week in Lagos. The event will spotlight sustainability, carbon capture, competition, and cost-saving strategies. It comes as Nigeria fully adapts to its deregulated petroleum market, which has reshaped the downstream landscape.
According to Oyebanji, the deregulated market long championed by stakeholders is now fully active. As a result, the industry is striving to maintain balance while adjusting to new market realities. Consequently, conversations around sustainability, carbon management, and energy transition have intensified.
These developments encourage innovation, collaboration, and fresh investments across Nigeria’s downstream oil and gas sector. Moreover, they are driving partnerships that align with the nation’s long-term sustainability goals.
Energy security remains a key national objective as the market evolves. Therefore, Oyebanji stressed the importance of transparency and reliable data for growth. He also proposed the establishment of a government agency to verify fuel consumption, refinery output, and depot capacity. Such measures, he noted, would support informed investment decisions and build trust across the sector.
The 2025 OTL Africa Downstream Energy Week, themed “Energy Sustainability, Growth Beyond Boundaries and Competition,” aims to promote balance in the changing energy environment. The event will feature ministerial and regulatory panels from five West African nations. In addition, more than 60 speakers will share insights on investment, technology, and finance across ten key sessions.
Furthermore, delegates will explore innovations at the OTL Trade Exhibition, covering refining, trading, logistics, petrochemicals, LPG, and lubricants. Through this, the event will encourage strategic partnerships that enhance performance and accelerate the transition towards a cleaner energy future.
Joyce Akabogu, Chief Executive Officer of OTL Downstream Development in Africa Ltd/Gte, stated that the forum continues to shape the future of Africa’s energy landscape. She also explained that it promotes operational excellence, business growth, and regional cooperation.
Nigeria’s commitment to optimising oil resources ultimately underscores the nation’s goal of achieving sustainability and transparency in energy development. With collaboration, innovation, and visionary leadership, Nigeria is steadily building a resilient and efficient downstream industry for future generations.