Oil and Gas Remain Nigeria’s Economic Anchor, Ministry Says
Despite a global push for clean energy, Nigeria’s petroleum ministry says oil and gas are still the country’s economic lifeline. Dr. Emeka Vitalis Obi, the Permanent Secretary, highlighted the sector’s crucial role in national revenue during a recent meeting in Abuja. He described it as a “principal driver” of the country’s finances.
Obi stressed the importance of reliable and standardized data to support Nigeria’s energy transition plans. He urged the Consultative Committee on Petroleum Statistics (CCPS) to improve data systems and build trust among stakeholders. This, he said, is essential for smart policy and investment decisions.
The CCPS meeting brought together major government agencies to review data from 2024 and 2025. The committee’s chairman, Mr. Usman Abdulkadir, explained that the group’s purpose is to enhance Nigeria’s petroleum data for better economic forecasting.
A key moment at the event was the launch of the Statistical Bulletin of the Nigerian Oil and Gas Sector (2018–2023). This new publication provides a comprehensive look at sector data, designed to help guide national and investment decisions.
