Upstream industry regulation and how the post–PIA policy and regulatory framework can reshape Nigeria’s upstream landscape Let me highlight three recent case studies that exemplify how these reforms have enabled investment and delivered tangible results: Bonga North, Ubeta, and HI.
Collectively, these projects represent over ten billion dollars in new upstream investment, demonstrating that clear policy, firm regulation, and deliberate leadership are essential to unlocking real value and cementing Nigeria’s position as a competitive upstream destination.
Ladies and gentlemen, as global energy dynamics continue to evolve, reforms in Nigeria’s oil and gas sector must extend beyond rules on paper. They must unlock investment, accelerate digital oilfield adoption, improve recovery, and strengthen energy security. Achieving this requires shared responsibility and collective action.