NAEC Releases Communiqué, Says Nigeria’s Energy Gap Is Not Only About Assets But Access

The Association of Energy Correspondents of Nigeria (NAEC) has launched the official communiqué from its 2026 Energy Conference, with a blunt verdict for the Federal Government and the complete trade: Nigeria’s largest power downside is not simply proudly owning oil and gasoline belongings, it’s gaining access to them, funding them, and turning them into actual barrels, actual energy and actual prosperity.

The convention, themed “Access to Assets: Empowering Players and Driving Growth,” was held on October 8, 2026 in Lagos, and introduced collectively policymakers, regulators, trade leaders, indigenous and worldwide operators, oilfield service suppliers, trade associations and different stakeholders who spoke with one voice on what should change.

At the guts of the communiqué is a direct name on the Federal Government to take away structural boundaries to asset entry by establishing clear, predictable and commercially viable processes for petroleum asset allocation, licensing and divestment, whereas guaranteeing that technically and financially certified indigenous corporations have honest alternatives to take part.

Stakeholders additionally urged regulatory businesses to strengthen coverage consistency and effectivity by implementing current legal guidelines and laws transparently, decreasing pointless administrative delays and offering well timed selections to help long-term funding throughout the power worth chain.

The convention audio system delivered a tough reality: proudly owning an asset doesn’t assure industrial success. According to the communiqué, significant participation requires entry to capital, expertise, infrastructure, markets, expert personnel and predictable regulatory frameworks.

That message is pressing as a result of Nigerian exploration and manufacturing corporations have taken on larger duties within the upstream petroleum trade following the divestment of belongings by worldwide oil corporations and successive licensing rounds. But the communiqué revealed that prime entry prices, financing constraints, prolonged approval processes and restricted entry to evacuation infrastructure and expertise proceed to limit technically certified indigenous operators.

It subsequently requested indigenous operators to do their half by strengthening company governance and monetary administration, and by adopting long-term methods that combine exploration, reserve alternative, manufacturing progress and technological innovation.

For Austin Avuru, Executive Chairman of AA Holdings, the lesson comes from expertise. He warned that buying belongings won’t produce barrels with out matching funding, infrastructure and execution capability. Recalling the trouble to construct evacuation pipelines, he requested, “Can you imagine how long it took?” He mentioned turning belongings into manufacturing wants entry to gasoline, infrastructure and, above all, finance.

On native content material, the convention mentioned Nigeria had recorded vital progress, with trade estimates exhibiting progress from about 5 per cent in 2010 to about 61 per cent. The communiqué acknowledged that the subsequent part should transfer in direction of technological possession and world competitiveness by means of native manufacturing, analysis and growth, gear certification and expertise switch.

Dr. Joan Faluyi, Publicity Secretary of the Petroleum Technology Association of Nigeria (PETAN), echoing the place of service corporations in Nigeria, mentioned that as indigenous operators tackle extra belongings, indigenous service corporations ought to be empowered to deal with the operations.

Speakers warned that Nigeria’s ambition of manufacturing three million barrels of oil per day would require substantial long-term funding. The communiqué cited restricted worldwide financing for African hydrocarbons, excessive borrowing prices and weaknesses in challenge execution as threats, except home financing mechanisms and investor confidence enhance.

On finance, Mrs. Alero Balogun, General Manager, Corporate Communications, Oando Plc, mentioned worldwide lenders are pulling again from African power due to working dangers, coverage inconsistency and regulatory uncertainty. She warned that till Nigeria de-risks its working atmosphere and mobilises native capital, asset entry for indigenous gamers will keep constrained.

The communiqué additional urged authorities and monetary establishments to increase entry to long-term funding, and urged banks, pension funds and different eligible institutional buyers to discover commercially sound alternatives within the sector. Dr. Obinna Ezeobi, General Manager, Corporate Communications, Nigerian Content Development and Monitoring Board (NCDMB), mentioned over 130 indigenous corporations have accessed greater than $400 million by means of the Nigerian Content Intervention Fund. He additionally cited the Board’s Project 100, which targets high-potential indigenous corporations with capability growth, market entry and monetary linkages.

The Federal Government was additionally requested to prioritise exploration and reserve alternative by means of incentives, higher entry to dependable technical knowledge and the deployment of superior applied sciences in frontier and mature producing areas. On infrastructure, audio system described pipelines, terminals, storage amenities and metering factors as important to turning manufacturing capability into industrial worth, warning that disruptions, safety challenges and restricted entry to current networks may cause manufacturing losses, delayed tasks and decreased income, significantly for indigenous operators within the Niger Delta.

Citing Nigeria’s estimated 215 trillion cubic ft of confirmed gasoline reserves, the communiqué mentioned the useful resource gives main alternatives for energy technology, industrialisation, fertiliser, petrochemicals, LNG, LPG and CNG. But infrastructure gaps, unsure industrial preparations, cost dangers and insufficient market entry proceed to carry again funding. The convention known as for accelerated gasoline infrastructure growth, together with strategic tasks such because the Ajaokuta-Kaduna-Kano (AKK) and Obiafu-Obrikom-Oben (OB3) gasoline pipelines, and requested stakeholders to advance the Decade of Gas agenda by means of coordinated funding able to creating jobs and stimulating financial progress.

The communiqué emphasised that increasing home refining can cut back import dependence, improve worth addition and strengthen Nigeria’s place as a regional provider, offered there are dependable crude provides, aggressive feedstock pricing and environment friendly transportation. On pricing, contributors cautioned that retail costs of petroleum merchandise mustn’t inflict hardship on Nigerians by means of skyrocketing prices, greater transportation prices and disruption of companies and social lives, whereas including that the pursuits, revenue and sustenance of refiners also needs to be factored in. Government was urged to strengthen market oversight and encourage a number of commercially viable suppliers in order that liberalisation delivers actual advantages to customers somewhat than market focus.

On electrical energy, the convention mentioned persistent provide issues can’t be resolved by including technology capability alone. Gas provide, transmission, distribution, upkeep, metering, income assortment and cost safety should enhance collectively. Distribution corporations had been requested to speed up meter deployment, cut back technical and industrial losses and enhance billing transparency and accountability. The communiqué blamed insufficient metering, estimated billing, assortment losses and excellent money owed for undermining the liquidity of the electrical energy market.

The convention mentioned the Electricity Act 2023 and the emergence of state electrical energy markets have opened the door to new funding fashions, together with mini-grids, industrial photo voltaic, power storage and hybrid programs. It requested federal and state regulators to harmonise requirements and make clear institutional duties to help such tasks. It additionally known as for dependable energy for irrigation, refrigeration, manufacturing and agro-processing, and for help for native meeting of photo voltaic and different power parts.

On power transition, contributors mentioned Nigeria should steadiness cleaner power investments with the quick want for dependable electrical energy, industrialisation and inexpensive power. The communiqué acknowledged that oil and gasoline will proceed to play an vital function within the power combine, whilst renewables and electrical mobility help diversification. Energy corporations had been urged to strengthen emissions monitoring by means of applicable applied sciences and correct measurement programs.

The convention mentioned host neighborhood growth should stay central to accountable asset administration by means of significant engagement, clear benefit-sharing and efficient implementation of neighborhood growth obligations. On human capital, it backed initiatives such because the NAPE Academy and known as for stronger partnerships amongst universities, skilled associations, regulators and operators to construct a sustainable pipeline of geologists, engineers and energy professionals.

Finally, the communiqué famous that unbiased, factual and well-contextualised reporting is crucial to transparency and investor confidence. It known as on the media and trade to strengthen entry to credible data by means of common briefings and well timed publication of efficiency knowledge, whereas respecting editorial independence, and requested NAEC to proceed offering an unbiased platform for power coverage dialogue.

NOP NIGERIA