The Centre for the Promotion of Private Enterprise (CPPE) has called for urgent policy reforms and digital transformation as key strategies to unlock the full potential of Nigeria’s oil and gas sector.
Dr Muda Yusuf, Chief Executive Officer of CPPE, made the call while delivering a paper at the 2025 Annual Public Lecture of the Nigeria Union of Journalists (NUJ in Lagos.
The lecture has the theme: “Transforming Energy: The Digital Evolution of Oil and Gas.”
Speaking on the topic: “Unlocking the Potential of Nigeria’s Oil & Gas Sector and Promoting Digital Transformation,” Yusuf stressed that Nigeria must prioritise reforms and digitisation to build a globally competitive, resilient and sustainable oil and gas industry.
He said such steps were vital to secure a prosperous energy future for coming generations.
According to him, the industry has been constrained for decades by underperformance, policy inconsistencies, weak investment inflows and the growing pressures of global energy transition.
“With coherent policies, strong institutions, and bold leadership, Nigeria can restore investor confidence, increase production, diversify revenue sources, and create millions of jobs,” he said.
Yusuf emphasised that digitalisation was now central to global energy competitiveness.
“In today’s energy landscape, digitalisation is no longer optional, it is a prerequisite for competitiveness and investment attraction.
“Our oil and gas sector is still plagued by infrastructure deficits, opaque contract management, slow regulatory approvals, poor asset data quality, and governance concerns.
“Global capital providers now demand robust digital systems and transparent ESG (Environmental, Social and Governance) reporting as preconditions for financing,” he added.
The CPPE chief called for the full implementation of the Petroleum Industry Act (PIA) to restore confidence in the industry.
He also called for harmonisation of taxes and levies across federal, state, and local levels to ease the cost of doing business.
He stressed the need for stronger security around vital oil and gas assets, recommending the deployment of drones, sensors and satellite surveillance to curb theft and vandalism.
“Nigeria is losing between 200,000 and 400,000 barrels of crude daily to oil theft and pipeline vandalism. This is unsustainable.
“Underinvestment in exploration and reserve growth also threatens our long-term production capacity.
“We must urgently revive upstream investments, accelerate downstream reforms, and develop a clear energy transition roadmap,” Yusuf said.
He noted that the stakes were high for Africa’s biggest oil producer, warning that failure to act decisively would mean missed opportunities for growth, jobs and prosperity.
“The oil and gas sector still holds vast potential. But only coherent policies, strong institutions, and bold leadership can turn that potential into sustainable development for Nigeria and its people,” Yusuf said
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