The Nigerian government has established a high-level committee to develop a new strategic plan for the oil and gas sector. The initiative aims to align the industry with the Petroleum Industry Act 2021, the National Development Plan 2021–2025, and Nigeria’s Agenda 2050. The committee was inaugurated in Abuja on October 21, 2025.
The Federal Government has tasked the committee with repositioning the oil and gas sector to meet evolving economic and environmental standards. The plan will focus on improving efficiency, transparency, and sustainability in the industry. The committee includes representatives from various government agencies, private sector stakeholders, and international experts.
The move comes amid growing concerns about the viability of Nigeria’s upstream oil projects. The Natural Resource Governance Institute has warned that 38 percent of these projects may fail to recover investments due to global energy shifts and economic pressures. The institute has called on the government to reassess its investment strategy to ensure long-term profitability and compliance with international standards.
Nigeria’s oil and gas sector has long faced challenges including corruption, regulatory inconsistencies, and declining production. The new strategic plan seeks to address these issues by promoting public-private partnerships and modernizing infrastructure. The government has also emphasized the need for environmental sustainability, in line with global climate goals.
The committee’s work will be closely monitored as it aims to provide a roadmap for the sector’s future. The outcome of this initiative will be crucial in determining Nigeria’s ability to remain competitive in the global energy market while addressing domestic economic and environmental challenges.
