The Federal Government of Nigeria, has assured continued provision of conducive investment environment for both local and international investors in the oil and gas sector.
This is even as it expressed commitment to fostering public-private partnerships in order to move the sector forward.
Permanent Secretary, Federal Ministry of Petroleum Resources, Amb. Nicholas Agbo gave the assurance at the Closing of the Annual Nigeria Oil and Gas (NOG) Energy Week in Abuja, Nigeria.
Amb. Agbo said, the theme of this year’s conference, “Showcasing Opportunities. Driving Investment. Meeting Energy Demand,” aptly encapsulates the core challenges and opportunities in the sector.
He noted that the deliberations have been the necessity for substantial investments in infrastructure and innovation, therefore, to attract and sustain such investments, the nation must create an enabling environment characterized by transparent policies, regulatory certainty, and fiscal incentives.
The Permanent Secretary stated that the future of Nigeria’s energy sector depends on the skills and expertise of workforce, saying that as the nation transition to a more diversified energy portfolio, it is imperative to invest in capacity building and human capital development.
“We must prioritize education and training programs that equip our young professionals with the skills required to drive innovation and maintain our competitive edge in the global energy market”, he added.
Amb. Agbo Acknowledged that technological advancements and digitalization are revolutionizing the energy sector, from smart grids to advanced data analytics, enhancing operational efficiency, reducing costs, and minimizing environmental impact, therefore, emphasized the importance of adopting and integrating these technologies to optimize energy infrastructure and improve service delivery.
He stressed that the nation’s energy strategy must align with global efforts to reduce carbon emissions and promote sustainable practices, including investing in clean energy technologies and adopting stringent environmental regulations.
According to him, the success of the nation’s energy sector hinges on collaborative efforts and stakeholder engagement, consequently, must continue to foster strong partnerships between the government, private sector, academia, and civil society.
“These collaborations are essential for driving innovation, addressing challenges, and achieving our energy objectives.
“The journey ahead may be challenging, but with determination, innovation, and collaboration, we can transform these challenges into opportunities”, he said.
