Energia Limited’s Chief Operating Officer, Oladimeji Bashorun, has called for enhanced policy execution, improved regulatory efficiency, and stronger industry collaboration to unlock the full potential of Nigeria’s oil and gas sector.
Speaking at the Society of Petroleum Engineers (SPE) Oloibiri Lecture Series and Energy Forum (SPE OLEF 2026) in Abuja, Bashorun contributed to the Policy and Regulation Panel session themed “Post-PIA Optimization: Is Policy Enabling or Constraining Intelligent Operations?”
Drawing from operational experience, Bashorun acknowledged the notable progress made by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) in improving processes and engagement with industry stakeholders. However, he emphasized that more work is required to ensure that regulatory frameworks effectively support operational efficiency and investment growth.
“Regulatory delays can paralyze investments; when approvals stall, production opportunities are directly impacted,” Bashorun noted, highlighting the need for faster and more predictable approval processes.
He also stressed the importance of aligning policy frameworks with the realities of modern energy operations, particularly in enabling technology adoption. According to him, while digitalization is advancing across the sector, existing guidelines do not fully accommodate the lifecycle and pace of emerging technologies.
“Technology will enhance our operations, but the real question is, what incentives and frameworks exist to support its deployment?” he added.
Bashorun further highlighted the need for stronger collaboration across the industry, noting that global operators have historically succeeded through strategic partnerships and shared capabilities.
“The strength of IOCs has always been collaboration, we must begin to replicate that as an industry if we want to scale effectively,” he said.
The session brought together key stakeholders across the energy value chain to examine the effectiveness of the Petroleum Industry Act (PIA) and explore pathways to optimize its implementation for sustainable growth.
Energia Limited reaffirmed its commitment to supporting policy development, advancing operational excellence, and driving innovation within Nigeria’s energy landscape. The company continues to play an active role in shaping industry dialogue and driving partnerships that will enhance efficiency, transparency, and long-term value creation.
