By Mary Onyia
Stakeholders in Nigeria’s energy sector have called for full implementation of the Petroleum Industry Act (PIA) and rapid digital transformation to unlock the industry’s vast potential.
At a symposium organised by the Nigeria Union of Journalists (NUJ), News Agency of Nigeria (NAN) Chapel, participants emphasised that digitalisation is now critical for global competitiveness.
Ogechi Nkwoji, Head of Economic Intelligence, Research and Regulation at the Major Oil Marketers Association of Nigeria (MEMAN), highlighted the sector’s evolution from mechanical pumps to a tech-driven powerhouse. She urged adoption of Internet of Things (IoT) forecourt automation for real-time sales tracking, AI-powered predictive maintenance for refineries, and blockchain for supply chain transparency. She said these tools together can deliver “end-to-end visibility” and “system-level change,” with benefits from better safety to reduced losses and easier compliance.
Chief Executive Officer of the Centre for the Promotion of Private Enterprise (CPPE), Dr. Muda Yusuf, expressed optimism, citing renewed reforms by the present administration. He pointed to a 20 per cent growth in the oil and gas sector in the second quarter of 2025, as reported by the National Bureau of Statistics, describing it as “evidence of renewed investor confidence and a turning tide for Nigeria’s energy future.”
However, Yusuf warned that inconsistent application of the PIA, along with various taxes, overlapping fees, and frequent policy changes, especially on fuel subsidies and gas pricing, still make the investment climate unpredictable. He called on the government to fully enforce the Act to rebuild investor trust.
“This is a decisive moment. Digitalisation is not a magic solution, but a powerful catalyst that can reduce risk, improve transparency, and attract new capital,” Yusuf added.
Chairman of the NUJ NAN Chapel, Yunus Yusuf, encouraged operators to embrace innovation and collaboration, noting that digital tools can drive sustainable energy, empower communities, and redefine the future of Nigeria’s oil and gas sector.