In a landmark announcement, the Independent Petroleum Producers Group (IPPG) has revealed that indigenous oil and gas producers now account for more than half of Nigeria's total crude oil and gas output. This significant milestone was declared as the industry body celebrated its 10th anniversary, reaffirming its commitment to driving energy security and boosting production within the country.
A Decade of Purpose and Partnership
The announcement was made during the group's 10th Anniversary Dinner, a high-profile event held recently in Abuja. The gathering was attended by key figures in Nigeria's energy landscape, including the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri; the GCEO of NNPC Limited, Bayo Ojulari; and several founding trustees and leaders of the IPPG.
Speaking at the event, the Chairman of IPPG and Chief Executive Officer of Aradel Holdings, Adegbite Falade, described the group's ten-year journey as one defined by clear purpose, strategic partnership, and tangible impact. He emphasized that the anniversary was not merely a celebration of longevity but a powerful reaffirmation of a shared commitment to strengthening indigenous leadership within Nigeria's vital energy sector.
The Rise of Indigenous Capacity
Falade highlighted the remarkable evolution of the IPPG over the past decade. From its inception, the group has grown into a leading voice for the industry and a credible partner in sector development. This has been achieved through sustained advocacy and close collaboration with the government and regulatory bodies.
The most striking evidence of this success is the rise of indigenous operators to controlling over 50 per cent of national crude oil and gas production. This figure underscores the growing influence, technical capability, and operational effectiveness of local companies, which are now central players in an industry historically dominated by international oil majors.
Commendation for Government Reforms
In his address, Falade commended the administration of President Bola Ahmed Tinubu for implementing reforms aimed at repositioning Nigeria's oil and gas sector for sustainable growth and increased investment. These policy directions are seen as crucial for building on the gains made by indigenous producers and for ensuring the sector's long-term viability and contribution to the national economy.
The IPPG's milestone underscores a major shift in the ownership and operational dynamics of Nigeria's most important economic sector. The increased share held by indigenous firms points toward greater local content development, enhanced skills transfer, and a stronger foundation for national energy security in the years ahead.
