Oil & Energy
FG Woos FDLs With Oil, Gas Summit
The Federal Government
has inaugurated the organising committee for the 2014 Nigeria Oil and Gas Trade and Investment Forum.
The inter-ministerial committee was inaugurated last Wednesday in Abuja by Minister of State for Industry, Trade and Investment Mr Samuel Ortom,
Ortom reiterated that the Federal Government would continue to promote the Onne Oil and Gas Free Zone Authority in Rivers State as the gateway for the oil and gas industry in Africa.
He said that the present administration was committed to consolidating the successes achieved in the past two editions of the forum to further strengthen the economy.
The minister said the 2013 Oil and Gas Trade and Investment Forum recorded over 2,500 participants, 100 exhibitors and over 500 investment enquiries.
“I am particularly happy that last year’s edition of the forum was a huge success.
“I am proud of the achievement of the ministry’s organising committee and our partner, Orlean Investment West Africa Limited,” Ortom said.
He said that the Onne Oil and Gas Free Zone Authority was structured and designed to address specific needs and requirements of the corporate bodies in the industry.
“Onne Oil and Gas Free Zone was established as a tax-free centre for processing of goods that encourage acquisition of skills, job creation and transfer of technology.
“It also encourages local content participation, enhances foreign exchange earnings and backward integration in the country,” he stated.
Ortom urged the organising committee to work hard to ensure that this year’s forum recorded better success in terms of attracting more domestic and foreign investment into the sector.
The committee’s terms of reference include organising a two-day trade and investment forum on oil and gas from Oct. 30 and to showcase the Onne Oil and Gas Free Trade Zone as a successful free trade zone in Nigeria.
Others are to mobilise relevant stakeholders, public and private sector investors (local and foreign) for the forum as well as monitoring and following up on the outcomes of the forum.
Members of the committee are drawn from the federal ministries of Industry, Trade and Investment; Petroleum, Transport and Niger Delta Affairs as well as Orleans Invest West Africa.
Other members are the Nigerian National Petroleum Corporation, Nigerian Ports Authority, Oil and Gas Free Zone Authority, Nigeria Export Processing Zone Authority, Nigeria Investment Promotion Commission, Nigeria Customs Service and Nigeria Immigration Service.
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Oil & Energy
Digital Technology Key To Nigeria’s Oil, Gas Future

Experts in the oil and gas industry have said that the adoption of digital technologies would tackle inefficiencies and drive sustainable growth in the energy sector.
With the theme of the symposium as ‘Transforming Energy: The Digital Evolution of Oil and Gas’, he gathering drew top industry players, media leaders, traditional rulers, students, and security officials for a wide-ranging dialogue on the future of Nigeria’s most vital industry.
Chairman of the Petroleum Technology Association of Nigeria (PETAN), Wole Ogunsanya, highlighted the role of digital solutions across exploration, drilling, production, and other oil services.
Represented by the Vice Chairman, Obi Uzu, Ogunsanya noted that Nigeria’s oil production had risen to about 1.7 million barrels per day and was expected to reach two million barrels soon.
Ogunsanya emphasised that increased production would strengthen the naira and fund key infrastructure projects, such as railway networks connecting Lagos to northern, eastern, and southern Nigeria, without excessive borrowing.
He stressed the importance of using oil revenue to sustain national development rather than relying heavily on loans, which undermine financial independence.
Comparing Nigeria to Norway, Ogunsanya explained how the Nordic country had prudently saved and invested oil earnings into education, infrastructure, and long-term development, in contrast to the nation’s monthly revenue distribution system.
Chief Executive Officer (CEO) and Executive Secretary of the Major Energies Marketers Association of Nigeria (MEMAN), Clement Using, represented by the Secretary of the Association, Ms Ogechi Nkwoji, highlighted the urgent need for stakeholders and regulators in the sector to embrace digital technologies.
According to him, digital evolution can boost operational efficiency, reduce costs, enhance safety, and align with sustainability goals.
Isong pointed out that the downstream energy sector forms the backbone of Nigeria’s economy saying “When the downstream system functions well, commerce thrives, hospitals operate, and markets stay open. When it fails, chaos and hardship follow immediately,” he said.
He identified challenges such as price volatility, equipment failures, fuel losses, fraud, and environmental risks, linking them to aging infrastructure, poor record-keeping, and skill gaps.
According to Isong, the solution lies in integrated digital tools such as sensors, automation, analytics, and secure transaction systems to monitor refining, storage, distribution, and retail activities.
He highlighted key technologies including IoT forecourt automation for real-time pump activity and sales tracking, remote pricing and reconciliation systems at retail fuel stations, AI-powered pipeline leak detection, terminal automation for depot operations, digital tank gauging, and predictive maintenance.
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