Thelma Tokunbo
Amb. Nicholas Ella, Permanent Secretary of the Ministry of Petroleum Resources, has urged stakeholders in Nigeria’s midstream and downstream petroleum sectors to leverage technological advancements to boost profitability and enhance environmental performance.
He made the call while delivering speech during the opening ceremony of the 47th Nigeria Annual International Conference and Exhibition (NAICE) 2024, in Lagos on Monday.
Addressing the conference’s theme, “Petroleum Industry Value Chain Optimization: The Inevitability of Midstream and Downstream Development,” the PS emphasized the critical role these sectors play in the overall value chain of the petroleum industry.
“Optimization of these sectors is not just an option but a necessity for enhancing efficiency, ensuring sustainability, and maintaining our competitive edge in the global market,” Ella stated.
He further highlighted that the petroleum industry has been a cornerstone of Nigeria’s economy, significantly contributing to national revenue, job creation, and industrial growth. However, the evolving energy landscape presents new challenges and opportunities that require a comprehensive and integrated approach.
“Technological advancements, regulatory frameworks, and strategic partnerships are key enablers in driving the transformation of our midstream and downstream sectors.
“It is imperative that we leverage these advancements to enhance profitability and environmental performance. By doing so, we can ensure that our petroleum resources are utilized most efficiently and sustainably,” he added.
The PS emphasized the Nigerian government’s commitment to creating an enabling environment for investment and innovation in the midstream and downstream sectors.
“This includes actively working on policies and initiatives to attract local and international investments, foster technological innovation, and ensure regulatory compliance.
“One of the Ministry’s key focus areas is the development of infrastructure to support the efficient transportation, processing, and distribution of petroleum products. This encompasses the expansion and modernization of pipelines, storage facilities, and refining capacity to meet both domestic and international demand,” the PS said.
“Furthermore, the Federal Government is prioritizing the adoption of digital technologies and data analytics to improve operational efficiency and decision-making processes in the industry.
“The Ministry is also committed to promoting local content and capacity building to ensure that Nigerian companies and professionals play a leading role in the midstream and downstream sectors.
“We recognize the importance of developing a skilled workforce that can drive innovation and maintain the highest standards of safety and environmental stewardship,” Ella noted.
Amb. Ella also commended initiatives such as the Young Professionals’ Workshop and the Women Leadership Programme highlighted at the conference, aligning with the Federal Government’s goals of inclusivity and leadership development.
“It is essential to equip our young professionals and female leaders with the knowledge, skills, and opportunities to thrive in the evolving petroleum landscape,” Ella stated.
The PS of the Ministry of Petroleum Resourced therefore underscored the importance of collaboration between industry, academia, and government in achieving collective objectives and fostering a culture of continuous improvement in Nigeria’s petroleum sector.
