The Chairman of Independent Petroleum Producers Group (IPPG), Mr. Abdulrazaq Isa, OFR, has stated that the 27-member indigenous oil and gas exploration and production group is a product of the Nigerian Content policy of the Federal Government which is a clear testimony that the policy has recorded huge success.
“The emergence of the strong indigenous Exploration and Production companies is a testament to the successful local content policy. There is no better or clearer way to demonstrate that Nigerian Content is working”, said Isa during his speech at the opening ceremony of the 11th Practical Nigerian Content Forum (PNC) which took place in Uyo, Akwa Ibom State recently.
The IPPG Chairman said that Government’s effort in deepening local content in the Nigerian oil and gas industry is paying dividends and it is imperative that the effort is sustained and greater focus placed on bridging the capacity gap and addressing funding challenges.
“Nigerian-owned companies are beginning to play more active roles across the industry. Indigenous companies are now penetrating areas that were once solely dominated by foreign players’, Isa said.
He reaffirmed IPPG’s commitment to full compliance with the provisions of the Nigerian Oil and Gas Industry Content Development (NOGIC) Act adding that the group will continue to partner with the Nigerian Content Development and Monitoring Board (NCDMB), as it aims to strengthen in-country capacity and increase Nigerian Content, and all relevant stakeholders for the benefit of the industry as well as Nigeria.
The IPPG states that the theme of the conference – “Deepening Nigerian Content Opportunities in the Decade of Gas” underscores the importance of re-positioning Nigeria’s oil and gas industry in the face of the ongoing global energy transition as well as divestment of assets by the International Oil Companies (IOCs) in Nigeria.
According to the Group, “the journey towards de-carbonization of the energy mix is well underway and Nigeria cannot afford to be left behind. Our focus as an industry in the short to medium term must be to rapidly exploit our hydrocarbon assets for the socio-economic transformation of our country and deploying same to guarantee our energy security. It is reassuring that proactive and concerted efforts are being undertaken by Government, in particular, towards pushing gas as a major pathway for Nigeria’s Net Zero 2060 commitment”.
The IPPG also stated that the group fully supports the declaration of 2021-2030 as the ‘Decade of Gas’ and will work with all stakeholders to harness Nigeria’s gas resources as the policy has provided the country an opportunity to “galvanise the industry to fully utilize and commercialize the nation’s abundant gas resources to rapidly catalyze other sectors of the economy.
The IPPG Chairman also felicitated with the Honourable Minister of State, Petroleum Resources, Chief Timipre Sylva for the major role he played in the realization of President Muhammadu Buhari’s vision for the oil and gas industry while also commending the Executive Secretary of the NCDMB, Engr. Simbi Wabote for organising the annual Practical Nigerian Content Forum, which he described as “the flagship event that has provided an opportunity to see Nigerian Content in Action by highlighting the monumental achievements recorded to date”.
