To enhance Nigeria’s oil production capabilities, the country has been urged to adopt Brazil’s model of public-private partnerships (PPPs) and policy reforms that triggered investments in deep water oil reserves.
Despite having one of the largest oil reserves in Africa, Nigeria faces a critical shortfall in meeting both local and international energy obligations.
A lecturer at the Society of Petroleum Engineers (SPE) and the founder of the Petroleum and Chemical Engineering Education Society (PCEES), James Arukhe suggested that Nigeria could improve its oil production capabilities by considering the Brazilian approach of PPPs, noting that the vital strategies in this regard involve simplifying regulatory procedures for exploration and production licences, providing fiscal incentives to attract private investments, and encouraging the exchange of technology and expertise between private firms and the Nigerian National Petroleum Corporation (NNPC).
He emphasised that implementing the measures, inspired by Brazil’s success with Petrobras and international oil companies, has the potential to significantly boost Nigeria’s oil sector.
“To enhance Nigeria’s oil production and address environmental concerns, investments should focus on cleaner technologies like carbon capture and renewable energy integration. Implementing effective oil spill management systems and aligning with international environmental standards will minimise ecological impact.
“These measures will contribute to sustainable operations, balancing production efficiency with environmental protection, and align with global climate change initiatives”, he asserted.
He said bridging the gap and reviving Nigeria’s oil sector is not just a matter of necessity but an opportunity for transformative growth by fostering a collaborative environment where the government and private entities operate in mutual respect.
He mentioned that the strategies address both the immediate operational inefficiencies required in the sector and the critical need for long-term sustainability.
Arukhe emphasized that Nigeria needs collaboration between government and private entities, alongside strategic investments to fulfill its domestic and international energy commitments.
“Meeting these obligations requires investments in infrastructure, technology, security, environmental sustainability, and human capital,” Arukhe stated.
