Nigeria’s Path to Global Oil Leadership: Strategic Measures Highlighted by Petroleum Engineers
The Society of Petroleum Engineers Nigeria (SPEN) has urged swift action, resilience in coordination, and disciplined project execution to solidify Nigeria’s role in the global oil market. The call comes ahead of the 2026 Oloibiri Lecture Series and Energy Forum (OLEF), scheduled for April 9 in Abuja, where industry leaders are set to discuss strategies for transforming Nigeria’s ambitious production targets into reality.
The 2026 forum, themed “Beyond the 3 Million Barrels Target: Harmonising Digitalisation, Capital and Policy Frameworks for Intelligent Operations and Asset Optimisation,” will focus on converting Nigeria’s oil production aspirations into tangible outcomes. SPEN chairman, Francis Nwaochei, emphasized that geopolitical tensions and global supply chain disruptions have exposed vulnerabilities in energy systems while presenting leadership opportunities for resource-rich nations like Nigeria.
Nwaochei stressed that achieving production beyond three million barrels per day requires innovation, disciplined capital deployment, and smarter institutional coordination. “Easy production is no longer an option. Only intelligent operations will deliver sustainable growth,” he said, highlighting that crude oil output directly impacts public revenue, foreign exchange stability, infrastructure financing, and the overall economy.
He cautioned that ambition without structural alignment could stall progress. Slow approval processes, overlapping mandates, and unclear fiscal terms weaken investment momentum. “Real progress depends on aligning digital innovation and funding with efficient and transparent policies,” Nwaochei added. OLEF 2026 will focus on three pillars: financing, policy alignment, and asset optimisation, aiming to strengthen Nigeria’s petroleum framework and investor confidence.
The chairman also pointed to transformation in the downstream sector, driven by the Dangote Refinery and emerging modular refineries, which could reshape fuel supply, employment, and pricing. He reaffirmed SPEN’s commitment to providing technical dialogue and actionable recommendations. “Unlike ceremonial conferences, OLEF 2026 is structured as a working forum designed to produce concrete strategies for Nigeria’s competitive, resilient, and sustainable energy future,” Nwaochei concluded.
source: Leadership