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Lagos, Ondo governors seek more investment in Nigeria’s oil & gas sector at NAPE conference – EnviroNews
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The Lagos and Ondo State Governments have called for increased investment in Nigeria’s oil and gas industry, emphasising the need to strengthen energy infrastructure, expand exploration activities and create an enabling environment for sustainable economic development.
The governors of the two states made the call at the opening ceremony of the 44th Annual International Conference and Exhibition of the Nigerian Association of Petroleum Explorationists (NAPE) in Lagos on Monday, November 9, 2026.
The conference, with the theme, “Unlocking More Barrels: Driving Reserves Growth Through Exploration, Local Capabilities and Adaptive Technology,” brought together industry stakeholders to discuss strategies for expanding Nigeria’s hydrocarbon reserves and strengthening indigenous capabilities.
Lagos State Governor, Babajide Sanwo-Olu, represented by the Commissioner for Energy and Mineral Resources, Abiodun Ogunleye, reaffirmed his administration’s commitment to attracting investment, strengthening energy infrastructure and promoting industrial development.
Sanwo-Olu congratulated NAPE on more than four decades of promoting technical knowledge, professional excellence and innovation in Nigeria’s petroleum industry.
He said Nigeria must look beyond discovering and producing additional hydrocarbon resources to ensuring that they generate sustainable economic benefits.
According to him, the success of the country’s exploration efforts should not be measured only by reserves discovered or barrels produced, but also by the industries, employment opportunities and economic activities generated from those resources.
He noted that petroleum exploration required scientific research, investment, innovation and the expertise of professionals capable of understanding the country’s subsurface resources.
The governor highlighted the relationship between energy development and Lagos’ industrial growth, noting that commercially viable gas discoveries could strengthen domestic energy supply, while advances in exploration and production technology could create opportunities for engineering firms, financial institutions, logistics operators and technology companies.
On energy infrastructure and investment, Sanwo-Olu identified the Lagos State Electricity Law 2024 as part of his administration’s efforts to establish a more comprehensive electricity market and encourage private-sector participation.
He also disclosed that the state’s strategic partnership with the Gas Aggregation Company of Nigeria (GACN) was designed to improve access to natural gas for electricity generation and support efforts to provide more reliable power for businesses and households.
The governor cited developments along the Lekki corridor, including the Dangote Refinery, Lekki Deep Sea Port and surrounding industrial projects, as examples of how infrastructure and private investment could stimulate industrial expansion.
He said Lagos was committed to strengthening the industrial ecosystem and maintaining its position as a competitive destination for energy-related investment and technical expertise.
While acknowledging the Federal Government’s ongoing energy reforms under President Bola Ahmed Tinubu, Sanwo-Olu stressed that investment must be complemented by technical expertise, research and innovation.
He called for stronger collaboration among industry operators, research institutions and universities to develop the next generation of Nigerian geoscientists, engineers and technology entrepreneurs.
The governor urged petroleum industry stakeholders to broaden their focus beyond unlocking additional hydrocarbon reserves to maximising the economic value generated from every barrel produced.
He assured participants that Lagos State would continue to welcome investments, partnerships and innovations capable of advancing Nigeria’s energy future.
Ondo seeks increased exploration investment
In his remarks, Ondo State Governor, Lucky Orimisan Aiyedatiwa, called on oil and gas companies to increase investment in the state’s hydrocarbon resources, assuring prospective investors of a safe and enabling business environment for exploration and production activities.
Aiyedatiwa, who attended the conference in person for the second consecutive year, reaffirmed his administration’s commitment to expanding exploration, attracting strategic investments and promoting sustainable development in oil-producing communities.
He described the conference theme as timely, particularly as the global energy industry faces changing technological, environmental and energy-security demands.
The governor said Nigeria must remain deliberate and innovative in exploring, developing and responsibly utilising its hydrocarbon resources to achieve increased production, energy security, economic diversification and sustainable national development.
He identified improved geological intelligence, technological adaptability and commercial optimisation of petroleum assets as critical requirements for unlocking the country’s hydrocarbon potential.
Describing Ondo as a significant oil-producing state, Aiyedatiwa said it ranked fifth among Nigeria’s oil-producing states.
He called specifically on Seplat Energy and other oil companies to explore investment opportunities in the state, stressing that his administration was ready to partner with credible investors.
According to him, Ondo offers a secure environment for investment and is committed to sustaining conditions that encourage responsible upstream petroleum operations.
He added that the government would continue to promote partnerships capable of translating resource development into employment opportunities, economic activities and improved living standards for residents.
The governor emphasised that the value of natural resources should go beyond production figures, export earnings and government revenue, insisting that resource exploitation must ultimately improve people’s lives, empower communities and create shared prosperity.
Host community development, local capacity
On host community development, Aiyedatiwa said his administration had continued to prioritise development interventions in oil-producing communities, particularly in infrastructure, education, healthcare, youth empowerment and sustainable livelihoods.
He stressed the importance of recognising host communities as essential partners in petroleum development, with equitable access to opportunities and meaningful participation in the benefits generated from oil and gas operations.
The governor acknowledged the provisions of the Petroleum Industry Act (PIA) in promoting host community development, noting the importance of ensuring that resource-producing communities benefit from petroleum activities.
On local content, he called for Nigeria to move beyond being predominantly a resource-producing country towards becoming a centre of technical expertise, scientific innovation, technological advancement and industrial value creation.
He urged universities, research institutions, professional associations such as NAPE and indigenous service companies to strengthen collaboration with industry operators to improve local technical capabilities.
He also advocated improved knowledge transfer, applied research and sustainable training opportunities for young Nigerian geoscientists, engineers and other technical professionals.
Addressing the global energy transition, Aiyedatiwa urged stakeholders to adopt a practical approach that takes into consideration the developmental needs and economic realities of emerging economies such as Nigeria.
He encouraged delegates to ensure that discussions and technical recommendations from the conference translated into practical solutions, fresh investments, accelerated reserves growth, improved operational efficiency and increased indigenous participation.
The governor reaffirmed Ondo State’s readiness to attract investments and establish partnerships with NAPE, petroleum operators, investors, research institutions and other stakeholders committed to responsible resource development.
Both governors expressed confidence that stronger collaboration between government, industry operators, research institutions and investors would help unlock Nigeria’s petroleum potential while ensuring that the benefits of resource development translated into broader economic opportunities and improved living conditions for citizens.
