Energy
Quality Petroleum Education: Panacea to Nigeria’s energy transition challenges- Wabote
Lucky MOMOH
Warri – There is an urgent need for the Federal Government and other stakeholders of the oil and gas industry to intensify efforts in the promotion of quality petroleum education and development of competent manpower who would help Nigeria meet the challenges of the ongoing energy transition and expected boom in the gas sector.
This was the key recommendation by the Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Engr. Simbi Kesiye Wabote in the convocation lecture he delivered on Friday at the Federal University of Petroleum Resources (FUPRE) Effurun, Delta State, titled “Defining the Value of Local Content in Petroleum Education.”
He canvassed that as western nations shift their attention from oil and gas and focus on the provision of funding, manufacturing of equipment, and development of supply chain to support their renewable energy sources, it is imperative that Nigeria and other hydrocarbon-rich countries develop the requisite capacity and capability to produce and utilize their fossil fuel resources.
According to him, the ongoing debate and the deadlines being set in respect of energy transition underscored the need to develop home-grown skill sets to develop and manage the nation’s natural resources. He stressed that “the narrative around energy transition has further revealed the need to ensure that there is a direct link between our petroleum education and the development and utilization of our hydrocarbon resources, so we are able to deal with any outcome of the transition.”
Commenting on the recent enactment of the Petroleum Industry Act 2021 and the Decade of Gas initiative, Wabote pointed out that those developments would not only engender investments and utilization of the nation’s estimated 600 trillion cubic feet of gas reserves but also lead to a boom in the gas sector, which would benefit discerning institutions, investors, operators, and service providers.
He added that “these scenarios require a robust petroleum education sector to ensure that our in-country skill sets are available and sufficient to support the exploration, development, production, and processing of hydrocarbon resources.”
The Executive Secretary charged educational institutions in Nigeria to prepare for the opportunities and challenges of energy transition and gas revolution by preparing robust curriculum in petroleum education with the mindset of enabling Nigerians develop and utilize our hydrocarbon resources using our home-grown technology. The institutions should put require greater focus on development of top-notch graduates to enable the development of Nigerian hydrocarbon resources – especially gas, he canvassed.
This he further explained, “will ensure that we are not forced out from the development of hydrocarbon resources due to lack of technical capability as was the case with coal development in Enugu.”
He maintained that FUPRE is an institution devoted to petroleum education and should be at the forefront of preparing our manpower needs for any outcome or impact of Energy Transition.
He agreed on the need to add renewables to the global energy mix to ensure energy security, but criticised attempts by the western world to demonize or de-marketing other energy sources as well as extracting commitments and setting unrealistic deadlines for countries to abandon fossil fuels.
He advised all nations to jealously guard their locally available sources of energy and ensure they remain in their energy mix for the benefit of their people.
He also highlighted two implications that have emerged from the rush to move the world away from fossil fuels and they include Divestment, whereby western countries shift funding away from the development of hydrocarbons towards renewable energy and Energy Shortage, which is the decline in the supply of hydrocarbons due to lack of investments and the fast pace of the shift to renewable energies.
He posited that Divestment has resulted in the emergence of indigenous companies playing major roles in exploration and production activities “such that companies like AITEO, FIRST E&P, EROTON, and others have acquired assets and are now responsible for producing about 15% of Nigeria’s oil and more than 60% of domestic gas.”
He however regretted that the divestment of the international oil companies and their reluctance to make further investments in oil and gas have resulted in the repatriation of capital out of Nigeria. “This stifles the nation’s economy of the much-needed foreign exchange with funds used as loans to acquire oil and gas assets instead of being used to develop new production assets,” he rued.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has said that 172 Host Communities Development Trusts (HCDTs) have so far been incorporated by oil and gas companies operating across the country.
The chief executive, NUPRC, Oritsemeyiwa Eyesan, disclosed this while addressing the leadership of the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) in Abuja.
Under the Petroleum Industry Act (PIA), oil and gas companies, referred to as settlors, are required to contribute three percent of their Operating Expenditure from the preceding financial year into a Host Communities Trust Fund for the benefit of communities where they operate.
Eyesan said the NUPRC had been enforcing the provisions of the Act, particularly those relating to host communities and the obligations of operating companies, and had put in place regulations and procedures to streamline the process.
“We have laid out procedures for doing things and we have put regulations in place to streamline the process. So far, we have registered 172 HCDTs and we have been able to manage contributions by settlors,” she said.
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She said the trusts had funded the construction of schools, hospitals and other infrastructure, and had contributed significantly to peace and stability in previously volatile communities, which in turn had led to an increase in oil production.
Eyesan, however, admitted that some of the HCDTs had become subjects of litigation over disagreements on the constitution of their Boards of Trustees. She said the Commission had been working to ensure the trusts run smoothly, and that its Alternative Dispute Resolution Centre had played a key role in addressing some of the grievances.
She said that while the RMAFC’s interest in host communities was appreciated, oversight of how the funds are managed remained the exclusive preserve of the NUPRC.
The NUPRC boss also promised to investigate the lingering disagreement between Sterling Oil Exploration and Energy Production Company (SEEPCO) and its host community in Anambra State.
Responding, the chairman of the RMAFC, Dr Mohammed Bello Shehu, commended the NUPRC for overseeing reforms in the oil and gas sector that had contributed to growth in production.
Shehu said the RMAFC regards the upstream oil and gas sector as important, given that it accounts for a large share of revenue accruing to the Federation Account.
He thanked the NUPRC leadership for honouring the RMAFC’s invitation and called for stronger collaboration between the two institutions in the interest of the country.
Data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) shows that crude oil imports by domestic refineries rose by 151.5 percent to 5.13 million barrels in July 2026, from 2.04 million barrels in June.
In a related development, domestic crude supply to refineries fell sharply during the month.
According to the NMDPRA’s July 2026 Midstream and Downstream Statistics, local refineries received a total of 17.88 million barrels of crude in July, comprising 12.75 million barrels supplied domestically and 5.13 million barrels imported.
Imported crude therefore accounted for 28.7 percent of total crude receipts by domestic refineries in July, while domestic supplies contributed the remaining 71.3 percent.
The 5.13 million barrels imported in July represented a significant rebound from the 2.04 million barrels recorded in June. It was also higher than the 2.08 million barrels imported in May and 0.41 million barrels in April.
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However, July’s import volume remained below the 9.43 million barrels recorded in March, the highest monthly volume so far in 2026.
The data showed that crude imports stood at 0.71 million barrels in January before rising to 4.25 million barrels in February and peaking at 9.43 million barrels in March.
Imports subsequently plunged to 0.41 million barrels in April, before recovering to 2.08 million barrels in May, 2.04 million barrels in June and 5.13 million barrels in July.
The report also disclosed that domestic crude supply to refineries declined by 25.4 percent month-on-month, falling from 17.08 million barrels in June to 12.75 million barrels in July.
In January, domestic refineries received 8.83 million barrels of domestic crude and 0.71 million barrels of imported crude, bringing total receipts to 9.54 million barrels.
The figure rose to 13.13 million barrels in February, comprising 8.88 million barrels of domestic crude and 4.25 million barrels of imports.
March recorded the highest total crude receipts at 20.92 million barrels, with domestic supply contributing 11.49 million barrels and imports 9.43 million barrels.
Total receipts stood at 18.37 million barrels in April, made up of 17.96 million barrels of domestic crude and 0.41 million barrels of imports.
In May, refineries received 17.92 million barrels, comprising 15.84 million barrels of domestic crude and 2.08 million barrels of imports, while June recorded 19.12 million barrels, made up of 17.08 million barrels of domestic crude and 2.04 million barrels of imports.
Dangote Petroleum Refinery and Petrochemicals FZE has increased the gantry price of Premium Motor Spirit (petrol) from N1,185 to N1,200 per litre, effective August 26, 2026.
In an official communication to customers issued on Tuesday, the refinery’s Group Commercial Operations announced revised depot prices for gantry and coastal deliveries.
The email, titled ‘PMS Price Change Communication (N1,185 per Litre To N1,200 Per Litre)’, asked customers to take note of the revised DPRP PMS gantry and coastal price, which is effective 26th August 2026.
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According to the table contained in the notice, the coastal price rose from N1,562,265 per metric tonne to N1,582,380, while the gantry price increased from N1,185 to N1,200 per litre.
The refinery further directed customers to return all Authorisation to Collect documents for repricing, adding that a new volume contract would be issued for immediate loading resumption.
“You are advised to return all ATCs for repricing, and a new volume contract will be issued for immediate loading resumption. Should you require any further clarification, please do not hesitate to contact us,” the notice said.
The latest adjustment represents a N15 per litre increase in the gantry price and comes barely days after the refinery raised the price from N1,165 to N1,185 per litre. The previous increase took effect from midnight on August 21, 2026, according to industry trackers.
However, the latest hike comes against a backdrop of falling international crude oil prices. Data from oilprice.com on Tuesday showed West Texas Intermediate crude trading at $82.13 per barrel, down $2.88 or 3.39 per cent, while Brent crude stood at $88.37 per barrel, declining by $3.80 or 4.12 per cent. Murban crude also fell to $92.71 per barrel, shedding $8.73 or 8.61 per cent.
Our correspondent gathered that marketers and depot operators who received the circular might have begun returning existing ATCs for repricing in line with the refinery’s directive.
The N15 increase could result in higher pump prices as oil marketers factor in transportation, landing and other downstream costs. Petrol is expected to return to an average of N1,250 per litre.
The Dangote Group has yet to respond to messages from our correspondent.
The price increase comes at a time of renewed volatility in the international oil market amid the ongoing US-Iran conflict. Reuters reported that oil prices fell as investors viewed the latest US sanctions against Iran as less threatening to global oil supplies than a military escalation. However, analysts warned that the decline could be an overreaction, noting that prices could rise sharply if Iran retaliates militarily.
Reuters also reported that supply disruption risks remained, with only two commodity vessels transiting the Strait of Hormuz on Monday, the lowest daily tally since early May. The waterway handled about one-fifth of global oil consumption before the conflict began, leaving the market vulnerable to further disruptions.
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