The Society of Petroleum Engineers (SPE) Nigeria Council has outlined an ambitious agenda to strengthen Nigeria’s energy industry, stating that collaboration, innovation, investment, and technological advancement will be essential to achieving sustainable growth in an increasingly competitive global energy market.
Speaking during a pre-conference press briefing in Lagos ahead of the 49th Nigeria Annual International Conference and Exhibition (NAICE 2026), SPE Nigeria Council Chairman, Francis Nwaochei, said this year’s conference will provide a strategic platform for policymakers, investors, operators, and technology providers to develop practical solutions to challenges facing Nigeria’s oil and gas sector.
The conference, scheduled to hold from August 3 to 5, 2026, at the Expo Centre, Eko Hotel & Suites, Lagos, is themed “Thriving in the Evolving Global Energy Landscape: Collaborative Growth and Resilience.”
Nigeria’s Energy Industry Faces Defining Moment
Nwaochei said the conference comes at a critical period for Nigeria’s petroleum industry as the country seeks to increase crude oil production, attract fresh investment, commercialise its vast gas resources, and strengthen energy security amid global energy transition policies.
He noted that shifting investment trends, geopolitical uncertainties, rapid technological innovation, and increasing decarbonisation commitments are reshaping the global energy industry, requiring Africa to adopt a balanced approach that supports both economic development and environmental sustainability.
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“Energy security and environmental sustainability can no longer be treated as separate priorities,” Nwaochei said.
“For Africa, resilience must become an active strategy that brings together regulators, operators, service providers, technology developers and financiers to unlock investment, reduce operational costs and drive sustainable growth.”
NAICE 2026 to Focus on Nigeria’s Post-Licensing Round Strategy
According to the SPE Chairman, NAICE 2026 will be the first major industry gathering following the successful completion of the Nigerian Upstream Petroleum Regulatory Commission’s (NUPRC) 2025 Licensing Round, which awarded 37 oil and gas blocks to 31 preferred bidders.
He commended the Federal Government, the Ministry of Petroleum Resources, and the NUPRC for conducting what he described as a transparent and market-driven licensing process under the Petroleum Industry Act (PIA).
However, he stressed that awarding exploration licences represents only the first step.
“The real task now is converting those assets into commercially viable production through technology deployment, investment, and efficient reservoir management,” he said.
He added that rapid development of the newly awarded assets would be crucial to Nigeria’s ambition of increasing crude oil production to three million barrels per day by 2030.
Indigenous Producers Face Bigger Responsibilities
Nwaochei observed that the ongoing divestment of onshore assets by international oil companies has fundamentally changed Nigeria’s upstream landscape, with indigenous operators now accounting for about 60 percent of national oil production.
He said local companies must improve operational efficiency, strengthen corporate governance, enhance financial capacity, and effectively manage decommissioning obligations if they are to maximise the value of the acquired assets.
Refining Expansion Strengthens Energy Security
The SPE Chairman also highlighted the rapid expansion of Nigeria’s downstream petroleum industry, noting that investments in large privately owned refineries and modular refining plants are positioning the country as an emerging regional refining hub.
He said long-term energy security would require balancing the enforcement of Domestic Crude Supply Obligations under the Petroleum Industry Act with ensuring commercially attractive returns for upstream producers.
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Infrastructure Security and Investment Remain Key Priorities
On Nigeria’s production growth strategy, Nwaochei said restoring shut-in production alone would not be sufficient to meet future targets.
Instead, he called for accelerated development of new oil and gas projects, expanded offshore infrastructure, and continued investment in technical capacity and operational efficiency.
He also identified gas commercialisation and condensate production as major opportunities for increasing government revenue because they are not subject to OPEC+ crude oil production quotas.
African Energy Bank Could Boost Project Financing
Addressing financing challenges, Nwaochei said reduced lending from Western financial institutions—largely driven by Environmental, Social and Governance (ESG) policies—has increased the need for African-led funding solutions.
He expressed optimism that the proposed African Energy Bank would improve access to capital for strategic oil and gas projects across the continent.
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Technology and Community Engagement Essential for Asset Protection
Nwaochei said protecting Nigeria’s oil and gas infrastructure would require a combination of advanced technology and stronger collaboration with host communities.
He advocated wider deployment of digital twin technology, fibre-optic pipeline monitoring systems, artificial intelligence, automated metering, and predictive surveillance tools to curb crude oil theft and pipeline vandalism.
He also urged effective implementation of Host Community Development Trusts established under the Petroleum Industry Act to strengthen community participation in safeguarding energy infrastructure.
More Than 600 Technical Papers to Be Presented
According to the organisers, NAICE 2026 will feature one of the conference’s largest technical programmes.
Activities will include:
- Presentation of more than 600 peer-reviewed technical papers and electronic posters.
- Executive panel discussions on investment, fiscal policy, local content, and resilient energy systems.
- Professional development courses and technical workshops.
- An international exhibition showcasing emerging energy technologies.
- Dedicated sessions for indigenous operators, women in energy, young professionals, and students.
- Industry networking events and business-to-business engagements.
SPE Calls for Pragmatic Energy Transition
While acknowledging the global transition toward cleaner energy, Nwaochei maintained that Africa requires a pragmatic approach that reflects its development priorities.
He argued that oil and natural gas will remain essential to industrialisation, electricity generation, manufacturing, and economic growth across the continent for decades.
At the same time, he said improving the carbon competitiveness of Africa’s hydrocarbons will be vital to maintaining access to international markets.
He called for accelerated efforts to eliminate routine gas flaring, reduce methane emissions, electrify remote oil and gas operations, and expand the use of natural gas as a transition fuel alongside renewable energy.
Conference Recommendations to Inform Government Policy
Nwaochei disclosed that recommendations from NAICE 2026 will be compiled into an official communiqué for submission to government ministries, regulators, and industry stakeholders to support evidence-based energy policy reforms.
He encouraged investors, government officials, researchers, operators, service companies, development partners, and young professionals to participate in the conference, describing it as a key platform for shaping the future of Nigeria’s energy industry.
“NAICE 2026 is more than a conference. It is a platform for collaboration, innovation and practical solutions that will help build a resilient energy industry capable of supporting Nigeria’s economic growth and strengthening Africa’s position in the global energy landscape,” he said.NLNG Reaffirms Growth Strategy, Trai
