GGA holds discussion on Nigeria’s oil, gas sector reforms

As part of its mission to improve governance through research, policy engagements, and activities that drive positive change in Africa’s largest economy, Good Governance Africa (GGA-Nigeria) is set to hold discussion on Nigeria’s oil and gas sector reforms, focusing on promoting sustainable socio-economic
development.

The main feature of the event, billed to take place at Radisson Blu in Victoria Island, Lagos, on 17 April, is a media presentation of survey results on “Investor Perceptions of Nigeria’s Regulatory and Policy Reforms in the Oil and Gas Sector”.

While Nigeria’s oil and gas sector has witnessed significant reforms, driven by President Bola Ahmed Tinubu’s energy vision, the survey seeks to assess the perceptions of investors, operators, and other industry professionals—including those from finance, consulting, legal and regulatory backgrounds—on the credibility and impact of recent regulatory and policy reforms. Some of these reforms include the Petroleum Industry Act (PIA) and the recent presidential executive orders on fiscal incentives, approvals, and local content rules.

According to a press statement signed by the Executive Director of GGA-Nigeria, Dr. Ola Bello, the survey results presentation aims to explore the valuable insights on the extent to which these reforms are creating incentives to invest in Nigeria’s oil and gas sector.

“At GGA, our vision is to help Africa become more economically successful and empower citizens. We aim to facilitate a dialogue between oil and gas sector players and prospective investors so that some of the blockages preventing investments from coming into Nigeria can be identified and help the country to do better in its oil and gas sector performance and revenue generation.

“The second aspect is to facilitate transparency in governance process, and this falls squarely within our remit of promoting good governance beyond the mainstream public sector but also bolstering corporate governance, particularly at a time when global cooperation is breaking down and the shape of the global economy we’ve known for the last 30 years is being challenged,” he said.

Bello added that Nigeria and its African peers need to improve on economic diplomacy and this outreach among regulators, private sector players, and prospective investors in the oil and gas sector, both local and international will open up new channels of opportunities.

The discussion will see fresh reflection and insights from experts including Dr. Ola Bello of GGA; Dr. Ogho Okiti of the Africa Business Convention; Dr. Abimbola Agboluaje of WNT Capitas Advisory Services; Toyin Akinosho of Africa Oil and Gas Report; and Dr. Ayodele Oni of Bloomfield LP.

The experts will deliberate on the key issues identified in the survey as affecting Nigeria’s oil and gas sector, highlight openings for deeper reform implementation with a focus on harvesting the low hanging fruits from coherent policy sequencing, and further map pathways to the medium-term transformation of the country’s hydrocarbon sector.