From Adanna Nnamani, Abuja
The Federal Government has warned that Nigeria’s oil and gas operators must entrench global Health, Safety and Environment (HSE) standards as well as Environmental, Social and Governance (ESG) principles in their operations or risk losing investor confidence.
Minister of State for Petroleum Resources (Oil) Heineken Lokpobiri gave the charge on Wednesday, August 20, 2025, in Abuja while delivering the keynote address at the 4th Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) Energy and Labour Summit (PEALS).
Lokpobiri stressed that the sector cannot attract capital without strong safety and governance frameworks.
He further said that the Tinubu administration is determined to protect all stakeholders in the industry while ensuring that productivity, safety, and sustainability remain the pillars of growth.
The minister added that global oil market volatility, rising environmental expectations, and domestic infrastructure gaps present challenges but insisted the country possesses the tools, the people, and the vision to overcome them.
“As we move forward, let us remember that our sector’s challenges are not insurmountable. Yes, global oil markets are volatile. Yes, environmental expectations are rising. Yes, infrastructure gaps exist. But we have the tools, the people, and the vision to overcome them. We have a government determined to protect all stakeholders. We have PENGASSAN, capable of driving the culture of safety, discipline, and professionalism that our sector requires. And we have a workforce whose talent, once fully harnessed, can position Nigeria as an energy powerhouse,” he said.
Also speaking, Bayo Ojulari, Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company (NNPC) Limited, said resilience in Nigeria’s oil and gas sector is not optional but a national obligation.
Ojulari stressed that in today’s energy market, companies are judged not only by production output but also by their adherence to ESG values.
He noted that NNPC is embedding a Zero Harm culture across its operations by implementing an Energy Transition Roadmap, cutting carbon emissions, and investing in gas as Nigeria’s transition fuel.
On investment, the NNPC boss explained that the Petroleum Industry Act (PIA) has created the framework to transform Nigeria’s investment climate but warned that policy coherence and stakeholder alignment were essential to de-risk the environment.
He further outlined NNPC’s plan to grow output through rigorous field development, securing oil and gas infrastructure, and unlocking stranded assets.
“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,” Ojulari added.
