Amid total collapse of the nation’s refineries, the Federal Government has insisted it has the capacity not just to meet local production significantly, but also to expand the supply of petrol to the West African market.

Minister of State for Petroleum Resources (Oil), Dr Heineken Lokpobiri, said this yesterday during the opening ceremony of the fourth edition of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) Energy and Labour Summit, in Abuja, where he spoke on the theme ‘Building a Resilient Oil and Gas Sector in Nigeria: Advancing HSE, ESG, Investment, and Incremental Production.’

Stating that the energy supply in Nigeria was not only about energy security, but also about asserting Nigeria’s position as a regional leader and dependable supplier.

To achieve the target, Lokpobiri said operators must invest in safer and more efficient infrastructure while embracing Environmental, Social, and Governance (ESG) principles in every facet of their operations.

Despite the challenges in the oil and gas sector and the volatile global oil markets, the Minister insisted Nigeria can overcome them, which, when harnessed, could position the country as an energy powerhouse.

“With more investment comes the capacity to upgrade infrastructure, adopt advanced technologies, and expand production. This is the virtuous cycle we are building, one in which PENGASSAN’s commitment to safety, sustainability, and ethics directly fuels national economic growth,” he said.

The Group Chief Executive Officer, Nigerian National Petroleum Company Limited (NNPCL), Bayo Ojulari, lamented that despite abundant reserves, Nigeria’s production output has not matched the country’s potential, urging a change of narrative.

For incremental production, he disclosed that the NNPCL was focusing on rigorous field development, improving security in the Niger Delta, reducing leakages, and unlocking stranded assets.

The NNPCL boss said that through partnerships, data-driven decisions, and innovation, the company aims to incrementally grow the nation’s daily production to sustainable levels.

“Every barrel counts. Every molecule of gas counts. Incremental production will not come from one big move, but from many smart, coordinated actions across the value chain,” he said.

Ojulari said the Nigerian energy sector must reinvent itself, not as a symbol of the past, but as a driver of a secure, sustainable, and inclusive future.

On the theme, he said the company had initiated an energy transition roadmap to reduce the country’s carbon footprint and is investing in gas as a transition fuel and is also improving transparency.

PENGASSAN President, Festus Osifo, who noted that the nation’s crude oil production was now climbing, credited it to the initiative of regulators, operators’ support, and a resilient workforce.

According to him, crude oil output fell from 2.4 million barrels per day to around 800,000 in 2021.

In achieving incremental production, incentivising investment, he said the Executive Orders signed by President Bola Tinubu were a right step in the right direction.

He noted that ESG has taken a firm grip on the global industry.

According to him, it is no longer a tick-box exercise but a lifeline to ethical progress.