The Executive Vice President, Downstream, NNPC Limited, Dr. Mumuni Dagazau, says Nigeria’s downstream oil and gas industry is undergoing a major transformation driven by deregulation, foreign exchange reforms, and strategic partnerships.
Speaking at the 19th Africa Downstream Energy Week in Lagos on Monday, themed “Energy Sustainability: Growth Beyond Boundaries and Competition,” Dagazau said ongoing policy reforms have unlocked new growth opportunities and encouraged integration, innovation, and collaboration across the energy value chain.
“We are witnessing strategic measures, supply partnerships, and joint investments that mark a shift from siloed operations to integrated ecosystems,” he said. “These developments are not merely transactional; they are structural, redefining how we produce, distribute, and consume energy.”
Dagazau noted that sustaining the current momentum requires focus on key enablers such as security, infrastructure, innovation, and transparency. He described the Petroleum Industry Act (PIA) and fiscal incentives for renewable and gas projects as critical frameworks creating a stable environment for long-term investment.
Highlighting the growing adoption of digitisation, automation, and low-carbon technologies, the NNPC executive said these advancements are central to improving efficiency and reducing environmental impact.
Dagazau observed that reforms in the gas sector have spurred growth in the Liquefied Petroleum Gas (LPG) and Compressed Natural Gas (CNG) markets, creating opportunities for indigenous small and medium enterprises.
“Despite local and global headwinds, Nigeria’s downstream sector holds strategic advantages. Our abundant reserves and expanding infrastructure position the country as a regional energy hub,” he said, adding that the transition to cleaner fuels offers new export prospects and access to global financing platforms.
He lauded the growing collaboration among African downstream operators through public listings, mergers, and cross-border partnerships, describing cooperation as the continent’s “new competitive edge.”
“At NNPC Limited, we are investing in new infrastructure and revamping existing assets to strengthen alliances,” Dagazau said. “Our co-investments across the energy value chain reflect our belief that shared growth is sustainable growth.”
He urged industry leaders to embrace sustainability as a driver of profitability and long-term value, reaffirming NNPC’s commitment to building an inclusive and secure energy future.
“Together, we can grow beyond boundaries and competition, building an energy future for ourselves and generations to come,” he added.
Also speaking, Lagos State Governor Babajide Sanwo-Olu described the OTL Africa Downstream Energy Week as the continent’s leading platform for driving energy dialogue, policy reform, and investment.
Represented by the Commissioner for Energy Resources, Mr. Abiodun Ogunleye, the governor noted that Lagos has hosted nearly every edition of the event, reinforcing its role as sub-Saharan Africa’s energy and logistics hub.
Sanwo-Olu commended OTL Africa for influencing major policy shifts and stimulating private-sector participation across the continent. He cited recent multi-billion-naira investments by Mainland Oil and Gas and partnerships with Rainoil Ltd. as examples of the forum’s impact, alongside technology innovations introduced by global firms like Dover Fueling Solutions.
“These examples underscore the power of collaboration and reflect the essence of this year’s theme — growth beyond boundaries and competition,” he said.
Reiterating Lagos State’s commitment to clean energy and inclusive growth through initiatives such as the Lagos Electricity Policy and Energy Transition Plan, the governor pledged continued support for partnerships that advance sustainable development.
“I am confident that the discussions and alliances formed here will open new doors, not just for Lagos, but for Nigeria and Africa as a whole,” Sanwo-Olu added.
