Nigeria has approved the payment of 185 billion naira ($128 million) in longstanding debts owed to gas producers for supplies to power generators, aiming to restore confidence in the energy market and improve electricity supply.
The National Economic Council, chaired by the vice president, approved the decision following President Bola Tinubu’s directive to clear arrears that have discouraged investments, strained cash flows, and curtailed gas supply for power generation, the minister of state for petroleum said.
Ekperikpe Ekpo said the settlement, to be implemented through a so-called “royalty-offset arrangement”, was a “decisive step” towards revamping Nigeria’s gas sector and stabilising electricity output, adding that the move aligned with a government initiative to almost double gas output to 12 billion cubic feet per day by 2030.
In a move that reinforces Nigeria’s commitment to strengthening local participation in the oil and gas sector, Nigerian Content Development and Monitoring Board (NCDMB) and Nigerian Export-Import Bank (NEXIM) have disbursed $42 million to small and medium enterprises (SMEs) to enhance indigenous capacity and competitiveness.
Surpassing the initial $30 million fund, this initiative aligns with the goals of the upcoming Practical Nigerian Content (PNC) Forum 2025, scheduled for December at the Nigerian Content Tower, Yenagoa. Under the theme “Securing Investments, Strengthening Local Content, and Scaling Energy Production,” the forum will focus on driving local content development, fostering collaboration, and promoting sustainable growth in the energy industry.
The 14th edition of the programme is a series of impact-focused high-level panel discussions.
Panel Sessions Include: “Streamlining Project Delivery for Improved Efficiency”, identifying the enablers required to unlock investment and drive projects; “Nigeria’s First Policy,” assessing progress 15 years after the NOGICD Act and how the Nigeria First Policy can drive broader economic value; “Turning Domestic Strength into Global Leadership,” exploring how Nigeria can build recognised centres of excellence; “Driving Energy Growth Through Technology and Innovation,” highlighting how digitalisation, automation, gas-powered solutions, and decarbonisation technologies can boost competitiveness and accelerate localisation.
Through strategic discussions and partnerships, PNC Forum 2025 aims to chart actionable pathways toward a more resilient and competitive Nigerian energy industry. The event will host over 750 delegates from across the oil, gas, and energy value chain, as well as more than 50 industry experts, policymakers, business leaders, and regulators. Distinguished speakers include Sen. Joel Onowakpo Thomas, Senate Chairman – Local Content, National Assembly, Hon Boma Goodhead, House Committee Chairman – Local Content, National Assembly, H.E. Sen. Heineken Lokpobiri, Honourable Minister of State for Petroleum Resources (Oil), Federal Republic of Nigeria, H.E. Rt. Hon. Ekperikpe Ekpo, Minister of State for Petroleum Resources (Gas), Federal Republic of Nigeria, H.E. Sen. John Owan Enoh, Minister of State for Industry, Federal Republic of Nigeria, Engr. Felix Omatsola Ogbe, Executive Secretary, Nigerian Content Development & Monitoring Board (NCDMB), Olu A. Verheijen, Special Adviser to the President – Energy, Federal Republic of Nigeria, Nasir Alfa Mohammed, Ag. Deputy CEO, Petroleum Commission, Ghana, Ahmed Galadima Amiu, Executive Secretary, Petroleum Technology Development Fund (PTDF), Matthieu Bouyer, Country Chairman & MD, TotalEnergies EP Nigeria Limited, Jim Swartz, Chairman & MD, Chevron Nigeria Mid-Africa Business Unit, Jagir Baxi, Chairman, MD & Lead Country Manager, ExxonMobil Affiliates in Nigeria, Ronald Adams, MD, Shell Nigeria Exploration and Production Company Limited, Adegbite Falade, MD & CEO, Aradel Holdings Plc, Roger Thompson Brown, CEO, Seplat Energy, Engr Wole Ogunsanya, Chairman, PETAN, Chris Osarumwense, President, OGTAN, Segun Ajayi-Kadir, mni, DG, Manufacturers Association of Nigeria (MAN), Dr. Olasupo Olusi, MD, Bank of Industry, Abubakar A. Bello, MD & CEO, NEXIM Bank and many others.
Speaking on PNC Forum 2025, Olamide Oloko, Conference Producer at dmg Nigeria events, remarked, “As the industry evolves, we must continue to create spaces that drive transformation through meaningful dialogue, innovation and partnerships. This is why the Practical Nigerian Content Forum remains a key platform for collaboration and progress within the energy sector. This year’s theme is designed to reaffirm our shared commitment to positioning Nigeria as a competitive and attractive destination for investment, while advancing the true intent of the NOGICD Act and the Executive Orders to catalyse sustainable growth across the energy value chain.”
Marking 15 years since the enactment of the NOGICD Act, PNC 2025 will serve as a strategic gathering for industry leaders, businesses, and policymakers, fostering collaboration, partnerships, and knowledge exchange. The forum will chart a clear roadmap for sustained growth and transformation in Nigeria’s energy sector, driving tangible outcomes, measurable impact, and long-term value within the country and across the global energy landscape.
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