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Nigeria Might Start Importing Crude – Engr. Wabote

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The Executive Secretary, Nigerian Content Development and Monitoring Board (NCDMB), Engr. Simbi Kesiye Wabote has observed that Nigeria might resort to importing crude oil for its upcoming and existing refineries if concerted efforts were not made to improve on the current low production numbers.

His observation was contained in his goodwill message at the 41st Annual Conference and Exhibition of the Nigerian Association of Petroleum Explorationists (NAPE) on Monday in Lagos.

Engr. Wabote bemoaned Nigeria’s low production of crude oil and gas despite the abundant reserves and challenged members of the NAPE and other industry stakeholders to initiate efforts to reverse the situation.

He maintained that the Nigeria’s 37 billion barrels of oil reserves needed close attention bearing in mind the various efforts at revamping the refineries and commissioning of greenfield refineries.

According to him, “it will be a sad outcome if we stop the importation of refined petroleum products only to replace it with the importation of crude oil for use in our local refineries.”

He praised the important role of petroleum explorationists in the energy mix, especially in discovering, evaluating, and establishing the reliability and sustainability of the size of oil and gas reserves.

Dwelling on gas, the ES hinted that Nigeria had about 208 trillion cubic feet (TCF) of proven gas reserves and about 600TCF unproven reserves.

He subsequently charged petroleum explorationists to apply their skills and technology toward confirming the recoverable volumes from these unproven reserves and developing the proven reserves.

Engr. Wabote hinted that the focus on gas was important because gas was no longer Nigeria’s transition fuel but the destination fuel.

He assured that NCDMB is committed to providing all the necessary support to realize the gas business agenda of President Bola Tinubu.

On the conference’s theme, “Repositioning the oil and gas industry for future energy dynamics,” the NCDMB boss noted that the world stands at a key point where adequate consideration must be made to address the Energy Trilemma, which is, achieving an appropriate balance between energy security, sustainability, and affordability.

He added that the oil and gas industry had been a key pillar of global energy as it has powered and continues to power industrial and economic developments across the world.

Engr. Wabote pointed out that repositioning the Nigerian oil and gas industry for national development required collaboration and partnerships with key players and agencies across the upstream, midstream and downstream sectors and its entire value chain.

The Nigerian Oil and Gas Content Development Act (2010), he noted, provided the compass to enable the development and growth of local capacities and capabilities in the Nigerian oil and gas industry.

Engr. Waboted commended the Federal Government’s determination to sustain the gains realized in the oil and gas industry and the eagerness to consolidate them rather than reverse the gains of Nigerian Content.

He conveyed the Board’s readiness to support various oil and gas initiatives that would ensure patronage of local investments, boost investors’ confidence, and create jobs to sustain the relative peace in the oil and gas sector.

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NCDMB, Zeconia Global Train 50 on Digital Oilfield Operations

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NCDMB Emerges Best MDA In Ease Of Doing Business Ranking

The Nigerian Content Development and Monitoring Board (NCDMB), in collaboration with Zeconia Global Investment CO. Ltd, has successfully completed the Training on Digital Oilfield Operation & Data Analytics for 50 participants in Lagos State.

The 5-day intensive capacity-building program, which was held from September 28 to October 2, 2026 in Lagos, came to a successful close with participants equipped with cutting-edge digital skills for the oil and gas industry.

The training was designed to bridge the digital gap in the sector, exposing beneficiaries to practical knowledge on digital oilfield architecture, production optimization, real-time data monitoring, IoT applications, predictive analytics, and data-driven decision making in upstream operations.

READ ALSO: 40 Oil Blocks up for Grabs as NUPRC Opens 2026 Bid Round

At the closing ceremony, the Managing Director of Zeconia Global Investment Co. Ltd, Olawore Oladipupo, conducted the official handover to participants, applauding their commitment, active participation and eagerness to learn throughout the duration of the training.

He charged them to leverage the knowledge gained to add value to the industry and position themselves for emerging opportunities in the digital energy space.

Participants expressed profound appreciation to NCDMB and Zeconia Global for the life-changing opportunity, describing the training as impactful, practical and timely for the evolving global oil and gas landscape.

The programme once again demonstrates NCDMB’s unwavering commitment to human capital development, local content growth and strategic partnerships aimed at empowering Nigerians with relevant skills for the future of work.

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40 Oil Blocks up for Grabs as NUPRC Opens 2026 Bid Round

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As the Nigerian government intensifies efforts to lure fresh investment into the upstream sector, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), has unveiled 40 oil blocks for the 2026 licensing round.

The blocks, located across land, shallow water and deepwater terrains, will be open to investors with the technical competence, financial capacity and commitment to develop Nigeria’s petroleum resources.

The NUPRC Chief Executive, Oritsemeyiwa Eyesan, announced the licensing round during her closing remarks at the commission’s fifth anniversary celebration in Abuja on Tuesday.

READ ALSO: Middle East Push, G7’s Strategic Reserve Release Arrest Oil Prices

She disclosed that the exercise has the blessings of both President Bola Tinubu and the Minister of Petroleum Resources.

“Ladies and gentlemen, the wait is over. It is with great joy that I announce that pursuant to the approval of His Excellency, President Bola Ahmed Tinubu, GCFR, President and Commander-in-Chief of the Armed Forces of the Federal Republic of Nigeria and Honourable Minister of Petroleum Resources, the Nigerian 2026 Licensing Round is hereby announced,” Eyesan said.

She said the round would offer 40 blocks across land, shallow water and deepwater terrains to investors with the requisite technical and financial capacity.

Eyesan said the 2026 bid round would introduce enhanced transparency measures, including mandatory disclosure of the beneficial owners of every bidder.

She added that the commission would provide greater disclosure of the evaluation methodology and results, stressing that transparency and predictability were essential to attracting upstream investment.

According to her, competition for upstream capital had become increasingly intense as investors now had multiple jurisdictions from which to choose.

“We will not rest on our oars. Competition for upstream capital is fierce, and it grows fiercer by the day. Investors have choices. They go where the rules are clear, where the process is predictable and where data can be trusted,” she said.

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Atiku Mourns 25 Killed in NAF Aircraft Crash in Ondo

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Former Vice President and African Democratic Congress (ADC) presidential candidate for the 2027 election, Atiku Abubakar, has expressed deep sadness over the Nigerian Air Force aircraft crash in Ondo State that claimed 25 lives.

Atiku disclosed this in a statement posted on X on Tuesday, describing the tragedy as heartbreaking and extending his condolences to the families of the victims and the Nigerian Armed Forces.

The Nigerian Air Force ATR-42 aircraft, with registration number NGR 931, crashed in the Inbound area of Ilaje Local Government Area of Ondo State on Monday while on a routine mission from Benin to Lagos.

ALSO READ: Moment Military Aircraft Crashes During Airshow Near Athens (Video)

The aircraft disappeared from radar after air traffic controllers lost contact with it at about 9:13 a.m.

Its wreckage was later located near the Naval Base in Igbokoda, where search-and-rescue operations were launched.

The Nigerian Air Force subsequently confirmed that 25 people were on board, comprising five crew members and 20 passengers, with no survivors.

Reacting to the tragedy, Atiku said the scale and circumstances of the crash were heartbreaking.

“Among those who lost their lives were airmen, soldiers and members of their families,” he said.

He added that the victims included people whose lives were dedicated to service, as well as families and individuals whose lives were cut short in the tragedy.

“My thoughts and prayers are with the families of all the deceased,” Atiku said.

He noted that no words could adequately comfort parents who had lost their children, children who had lost their parents, or families suddenly deprived of their loved ones.

Atiku also extended his heartfelt condolences to the Nigerian Air Force and the Armed Forces of Nigeria, as well as the governments and people of Nigeria and Ondo State.

He prayed that Almighty God would grant eternal rest to the souls of the departed, comfort their grieving families and give the Nigerian Air Force and the nation the strength to bear the painful loss.

 

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