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Ondo State Governor, Dr. Lucky Orimisan Aiyedatiwa, is seeking indigenous measures that will check Nigeria’s dependence on foreign refined oil and reduce cost of fuel for domestic consumption in Nigeria.
He spoke on Monday at the opening ceremony of the 43rd Annual International Conference and Exhibition of the Nigerian Association of Petroleum Explorationists (NAPE), which held in Lagos.
According to him, for over seven decades, the oil and gas sector remained key contributor to Nigeria’s revenue growth, strengthening numerous capital projects in the country.
It is high time Nigeria broadened its economic base beyond crude oil, the governor emphasized.
He added :“We must support and fund other sectors to increase the potential sources of wealth for Nigeria from a dominantly mono-economic oil dependency.”
He hinted that Ondo state has taken serious measures to position itself in the energy transition.
He revealed that Ondo is the fifth-largest producer of hydrocarbon in Nigeria, with about 60,000 barrels of crude oil produced daily .
His administration had signed an agreement with Backbone Infrastructure Limited to construct a 500,000-barrel-per-day refinery in Ilaje Local Government area, in partnership with the Nigerian National Petroleum Company Limited (NNPCL), he said.
He invited industry players to Ondo and promised them his administration’s support for exploration and investment activities, with a view to ensuring profitable returns on investment.
He commended NAPE for over four decades of professional excellence and its role in building a strong community of explorationists and geoscientists contributing to Nigeria’s energy security.
Speaking,Johnbosco Uche, FNAPE
President, Nigerian Association of Petroleum Explorationists (NAPE), said Nigeria has recently experienced a recovery in oil and gas production, reversing the historical trend of decline.
The country is making progress toward achieving the 2030 target of 3 million barrels of oil per day, and 12 bcf of gas.
Lamenting that exploration activity
remains below expectations, the NAPE President suggested that Nigeria must replace reserves and unlock vast untapped resources and
unappraised discoveries that are critical to its energy security and economic resilience.
He added:”We need
to discover new oil and gas today to sustain the production of tomorrow.To revitalize exploration, we must return to data-driven innovation, integrated basin analysis, and investment-enabling policies. The regulators and industry must work together to create the
environments that attract new investments, incentivize exploration, and unlock near-field and deep
basin opportunities.
“Equally important is the need to embrace technology and digital transformation – artificial
intelligence, machine learning, and advanced subsurface analytics to enhance exploration efficiency, reduce risks, and accelerate reserve replacement.
“As we pursue revitalization, we must not overlook the most critical asset, our people. The future of
our industry depends on our ability to nurture and empower the next generation of geoscientists
and energy professionals.
“Through our University Assistance Program, mentorship initiatives, and
student chapters, NAPE continues to build bridges between industry and academia, ensuring that
our young professionals are equipped to sustain and lead the industry into the future.”
He implored all operators and service companies to embed structured internship, graduate training,
and mentorship programmes into their operational frameworks,adding that ” Our human capital must be continuously renewed, as we cannot build a sustainable industry on an aging workforce alone.”
