Independent oil producers laud gains of reforms, siting of Africa Energy Bank in Nigeria
CHIGOZIE AMADI
Nigeria’s independent oil producers, under the umbrella of the Independent Petroleum Producers Group (IPPG), have commended the ongoing government’s reforms in Nigeria’s oil and gas industry. They noted in particular the increasing crude production, which has grown from 1 million barrels daily to well over 1.7 million barrels daily.
The IPPG also expressed its delight over the siting of the Africa Energy Bank in Nigeria, saying it was aspiration accomplished.
Speaking at the 2025 Nigeria International Energy Summit (NIES) Ministerial Welcome Dinner held in Abuja on Tuesday, the Chairman of IPPG, Abdulrazaq Isa, said: “At last year’s Sponsor’s Dinner, IPPG strongly advocated for the siting of the Africa Energy Bank’s (AEB) Headquarters in Nigeria.
“That plea has become a reality today and I would like to once again specially recognise the efforts of the Minister of State Petroleum Resources (Oil), Senator Heineken Lokpobiri, who passionately and tirelessly championed this cause. I equally extend our appreciation to APPO and African Export-Import Bank (Afreximbank) for the laudable initiative of establishing the Africa Energy Bank.
“This establishment of the AEB is a victory for the entire continent and symbolises our collective effort to build a prosperous and sustainable energy future for Africa. This will enable the continent look inward and deepen collaboration in charting a course for meeting its energy needs. We eagerly look forward to the formal take-off of the bank later this year.”
He further stated that this year’s summit is holding at a very momentous period for the Nigeria oil and gas industry.
“The ongoing industry reforms embarked by the Government continue to gather momentum and are delivering tangible results. Most notably, the conclusion of the IOC divestments is a worthy achievement marking a defining moment for the industry and nation. Nigerian independents now dominate the prolific onshore and shallow water acreages, with a significant increase in their contributions to the nation’s crude oil and production. For IPPG, this transformational shift represents a promising future and an emerging role for the Group.
New Logo Unveiling
“It is on that note that this new beginning, a pivotal moment of our journey, coincides with the unveiling of our new logo in the presence of our distinguished guests this evening. Since our establishment about a decade ago, IPPG has been committed to the renaissance and advancement of the Nigerian oil and gas industry.
“Our new logo is a testament to this mandate and a reflection of our re-dedicated commitment to the industry and Nigeria underpinned by our desire to create an industry that is a source of national pride, enhancing our global image and relevance. It is therefore my utmost pleasure to unveil this new logo as we look forward to the path ahead and collaborating for Energy Prosperity.”
Isa thanked Minister of State Petroleum Resources (Oil), Sen. Heineken Lokpobiri, Minister of State Petroleum Resources (Gas), Rt. Hon. Ekperikpe Ekpo, foreign dignitaries and partners who attended the summit, the OPEC Secretary-General, H.E. Haitham Al Ghais, Secretary-General of African Petroleum Producers Organisation (APPO), Dr. Omar Ibrahim and the Chairman, OPEC Board of Governors, Mr. Ademola Adeyemi-Bero, who also happens to be a Trustee of IPPG and its pioneer Chairman for their presence at the dinner..
IPPG participated in this year’s summit as the Premium Partner.
African energy security: Global funding needed – Heritage Energy
The General Manager of Government, Joint Venture, and External Relations at Heritage Energy Operational Services Limited (HEOSL), operator of the OML 30 Joint Venture between NNPC E&P Limited and Shoreline Natural Resources Limited (SNRL), Reverend Sola Adebawo, has called for increased global funding to unlock Africa’s vast energy potential.
He made the call in his opening remarks at the Inter-Ministerial/Energy Leadership Roundtable during the 2025 Nigerian International Energy Summit (NIES) on February 25, 2025.
Adebawo, who moderated the panel session, emphasized the critical need for strategic global investments and collaborations. In his words: “Access to reliable and affordable energy remains a significant challenge for many African nations, hindering economic development and impacting quality of life,” “Attracting global investment is crucial to unlocking this potential. This requires a strategic framework, stable regulatory environment, and innovative financial mechanisms,” he said.
The panel, with the subtheme: Catalysing Global Investment: Policy Pathways to Unlock Africa’s Energy Potential, which was composed of esteemed energy leaders from across Africa, explored actionable pathways to foster international partnerships, overcome regulatory barriers, and ensure sustainable energy development. Their discussions highlighted the importance of inward investment, prioritizing energy infrastructure, and creating an investor-friendly environment.
Panel members included: Hallal Mohammed Nassim, Chief of Staff to Honourable Mohamed Arkab, Minister of Energy and Mines, Algeria; Dr. Heineken Lokpobiri, Nigeria’s Minister of State for Petroleum Resources (Oil); H.E. Gabriel Mbega Obiang Lima, Chairman, Central African Pipeline Systems (CAPS), and Former Minister of Petroleum, Equatorial Guinea and Ekperikpe Ekpo, Nigeria’s Minister of State for Petroleum Resources (Gas).
In his closing remarks, Adebawo reiterated the importance of pan-African collaboration for achieving energy security across the continent. The session underscored the collective resolve to transform Africa’s energy landscape through strategic investments and partnerships.
