Mr. Abiodun Ogunleye, Commissioner for Energy and Mineral Resources, Lagos State.
-Felix Douglas
The Lagos State Government has reaffirmed its commitment to attracting investment, strengthening energy infrastructure and creating an enabling environment for industrial development, saying the state’s growing energy and industrial ecosystem presents significant opportunities for Nigeria’s petroleum industry.
The Lagos State Governor, Mr. Babajide Sanwo-Olu, stated this in an address delivered on his behalf at the opening ceremony of the 44th Annual International Conference and Exhibition of the Nigerian Association of Petroleum Explorationists (NAPE) in Lagos.
He was represented by Abiodun Ogunleye, Commissioner for Energy and Mineral Resources.
Welcoming delegates to the state, the governor congratulated NAPE on more than four decades of promoting technical knowledge, professional excellence and innovation in Nigeria’s petroleum industry.
Speaking on the conference theme, “Unlocking More Barrels: Driving Reserves Growth Through Exploration, Local Capabilities and Adaptive Technology,” Sanwo-Olu said Nigeria must look beyond discovering and producing additional hydrocarbon resources to ensuring that they generate sustainable economic benefits.
He noted that the success of the country’s exploration efforts should not be measured only by reserves discovered or barrels produced, but also by the industries, employment opportunities and economic activities generated from those resources.
According to him, every major oil and gas discovery begins long before production, requiring scientific research, investment, innovation and the expertise of professionals capable of understanding the country’s subsurface resources.
He observed that although petroleum exploration activities may take place far from Lagos, their impact extends to businesses, households and the wider economy.
The governor highlighted the relationship between energy development and Lagos’ industrial growth, noting that commercially viable gas discoveries could strengthen domestic energy supply, while advances in exploration and production technology could create opportunities for engineering firms, financial institutions, logistics operators and technology companies.
He said Lagos offers a growing commercial and industrial environment where these technical capabilities could be deployed to support economic development.
On energy infrastructure and investment, Sanwo-Olu highlighted the Lagos State Electricity Law 2024 as part of his administration’s efforts to establish a more comprehensive electricity market and encourage private-sector participation.
He also disclosed that the state’s strategic partnership with the Gas Aggregation Company of Nigeria (GACN) was intended to improve access to natural gas for electricity generation, supporting efforts to provide more reliable power for businesses and households.
The governor further identified developments along the Lekki corridor as examples of how infrastructure and private investment could stimulate industrial expansion.
He cited the Dangote Refinery, Lekki Deep Sea Port and surrounding industrial developments as projects demonstrating the potential of infrastructure investment to support domestic refining, manufacturing, logistics and employment generation.
According to him, the state’s objective is to strengthen this industrial ecosystem and maintain Lagos as a competitive destination for energy-related investment and technical expertise.
On national energy reforms, the governor acknowledged the Federal Government’s ongoing reforms under President Bola Ahmed Tinubu, noting that the initiatives were aimed at improving competitiveness and attracting the long-term capital required to develop Nigeria’s energy resources.
However, he stressed that investment must be complemented by technical expertise, research and innovation.
He therefore called for stronger collaboration among industry operators, research institutions and universities to develop the next generation of Nigerian geoscientists, engineers and technology entrepreneurs.
Sanwo-Olu urged petroleum industry stakeholders to broaden their focus beyond unlocking additional hydrocarbon reserves to maximising the economic value generated from every barrel produced.
He emphasised that new discoveries must translate into stronger domestic industries, greater opportunities for Nigerian professionals and tangible improvements in the living conditions of citizens.
The governor assured participants that Lagos State would continue to welcome investments, partnerships and innovations capable of advancing Nigeria’s energy future.
He also reaffirmed his administration’s commitment to providing the infrastructure and enabling environment required for businesses and entrepreneurs to thrive.
He concluded by congratulating NAPE’s leadership and members on the 44th edition of the conference, wishing delegates productive discussions, rewarding partnerships and a memorable stay in Lagos.
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