“No $1 Trillion Economy Without Energy Reform – Analysts Warn On Nigeria’s Oil And Gas Gaps!”

The Society of Petroleum Engineers (SPE) Nigeria Council has reiterated its commitment to driving Nigeria’s quest for a $1 trillion economy through enhanced oil field recovery and robust gas monetisation strategies.

Speaking at a weekend press conference in Lagos to herald the upcoming SPENAICE 2025 conference, the Council’s Chairman, Dr. Amina Danmidanmi, underscored the urgent need for infrastructure reliability and pipeline security to boost national energy output.

“Nigeria currently produces around 1.75 million barrels per day of crude oil and condensates. The national aspiration is to hit 2.7 mbpd by 2030 while capitalising on our vast 209 trillion cubic feet of gas reserves,” she stated.

ACCORDING TO IREPORTER ONLINE, Dr. Danmidanmi emphasized that the conference will unveil innovative technical insights and practical energy solutions that align with the country’s economic growth targets and energy security needs.

Addressing recent industry divestments, she described the exit of international oil companies from onshore and shallow water assets as a pivotal moment that tests the resilience of indigenous operators.

She noted it offers a unique opportunity to deepen local content, harness human capital, and build technical independence.

Speaking further, Danmidanmi described Nigeria’s gas reserves as a critical asset for transitioning to a low-carbon economy.

She noted that monetising gas for power generation and industrial use is essential, while the expansion of pipeline infrastructure and processing capabilities is vital for capturing flare gas and meeting domestic and export demands.

ACCORDING TO IREPORTER ONLINE, over 4,000 participants from across Nigeria and the global energy sector are expected to attend SPENAICE 2025 in Lagos from August 4 to 6.

The event will feature over 80 exhibiting companies, high-level leadership panel sessions, youth-focused programs, technical courses, and interactive social engagements.

“SPENAICE 2025 arrives at a defining point for Nigeria’s energy industry,” Dr. Danmidanmi concluded. “This platform will amplify Nigerian-led solutions around energy transition, local content amidst divestments, and technological innovations—all vital to realizing the $1 trillion economic vision.”

”IREPORTER REPORTS”