Expert urges FG to support indigenous firms in oil & gas value chain

Oil & Gas Expert, Ms Iroghama Ogbeifun, has called on the Federal Government to support indigenous companies in the Oil and Gas Industry value chain, for speedy revamping of the Nigerian economy.

Ogbeifun, who stated this in a statement in preparation for the International Energy Summit (NIES) 2024, said that the support should be felt in every aspect of the oil and gas sector.

“NIES 2024 is a perfect forum to strategise on how to salvage the Nigerian energy sector,” she said.

Ogbeifun, the Managing Director/CEO, Starzs Investments Company Limited (SICL), an indigenous marine logistics service company rendering unbeatable services to international and local oil companies in Nigeria, said the summit offered opportunity for regulatory authorities and industry operators to share experience.

Supreme News reports that the summit with the theme “Navigating the New Energy World Order: Security, Transition, and Finance”, will be officially opened by President Bola Tinubu at the Banquet Hall, Presidential Villa, Abuja, on Tuesday.

The summit, which will be held from Feb. 26 to March 1, is aimed at charting a sustainable way forward in the quest to accelerate the country’s energy security, transition and finance.

“The current economic challenges facing the country can be attributed to the nation’s dependence on foreign input. It’s time for local operators to take the central stage in the industry and stabilise it.

“That way we can begin to play big in the African energy sector to boost every aspect of our economy.

“We all know that energy is the foundation for industrialisation; now that local operators are playing in almost every aspect of the industry, the government must give them the necessary support.

“The NIES therefore provides a meeting point for the government to hear from the operators and fashion policies that can speedily advance the sector,” she said.

Ogbeifun expressed confidence that the 2024 NIES would help the Tinubu-led government to draw a roadmap to recover the losses experienced in the sector in recent times.

She also announced that her company would be participating actively in NIES 2024 as an exhibitor, while she would moderating the African Content and Opportunities session at the premier Oil & Gas conference of the Federal Government of Nigeria.

“The summit promises to host a plethora of strategic conversations on energy events and activate plans to unlock new frontiers in the global energy transition,” she said.

The Minister of State for Petroleum Resources (Oil), Sen. Heineken Lokpobiri and Country Chair/CEO of Shell Companies in Nigeria, are among experts slated to discuss industry challenges and proffer solutions at the summit.

Chairman of the Oil Producers Trade Section (OPTS), Mr Osagie Okunbor and Chairman, Independent Petroleum Producers Group (IPPG)/Waltersmith Group, Mr Abdulrazaq Isa, are also part of the discussants.

Mr Gbenga Komolafe, Chief Executive, Nigerian Upstream Petroleum Regulatory Commission (NUPRC), is among other dignitaries expected at the summit.