Dr Mumuni Dagazau, Executive Vice President (EVP) of Downstream, NNPC Ltd., says the nation’s downstream oil and gas sector is undergoing a transformation driven by deregulation, foreign exchange reforms, and strategic collaborations.
Dagazau made this known on Monday in Lagos at the 19th Africa Downstream Energy Week, with the theme “Energy Sustainability: Growth Beyond Boundaries and Competition”.
He said recent policy reforms had unlocked new growth opportunities, encouraging integration, innovation, and stronger partnerships across the energy value chain.
“We are witnessing strategic measures, supply partnerships, and joint investments that signal a shift from siloed operations to integrated ecosystems.
“These developments are not merely transactional. They are structural, redefining how we produce, distribute, and consume energy,” Dagazau said.
The NNPC executive noted that sustaining the current momentum required prioritising key enablers such as security, infrastructure, innovation, and transparency.
He said, “The safety of our people and assets is foundational.
“Investment in robust infrastructure is essential to meet demand and unlock new opportunities.”
Dagazau said frameworks like the Petroleum Industry Act (PIA) and fiscal incentives for renewable and gas projects were creating a stable environment for long-term investment.
He emphasised the growing role of digitisation, automation, and low-carbon technologies, saying they were key to achieving operational excellence and reducing environmental impacts.
Dagazau also noted that government reforms had catalysed growth in the Liquefied Petroleum Gas (LPG) and Compressed Natural Gas (CNG) markets, opening new business frontiers and empowering indigenous small and medium enterprises.
“Despite local and global headwinds, Nigeria’s downstream sector enjoys strategic advantages.
“Abundant reserves and expanding infrastructure position the country as a regional energy hub,”Gagazau noted.
He added that the transition to cleaner fuels presented niche export opportunities, while access to international financing platforms was enhancing competitiveness.
Dagazau commended the increasing collaboration among African downstream players through public listings, mergers, and cross-border partnerships, saying such efforts were positioning Africa as a global energy player.
He explained, “Collaboration is Africa’s new competitive edge. To consolidate our gains and unlock new frontiers, cooperation must become our default mode.”
He noted that platforms such as OTL Africa Downstream Week remained vital in aligning stakeholders and advancing shared industry goals.
“At NNPC Limited, we are deploying new infrastructure and revamping existing assets to support strategic alliances.
“Our co-investments across upstream, midstream, and downstream operations reflect our belief that shared growth is sustainable growth,” Dagazau maintained.
He urged industry leaders to view sustainability as a catalyst, not a constraint, saying it should drive profitability, innovation, and long-term value.
“The leaders who will thrive are those who deliver not just energy, but trust, transparency, and sustainability,” he further said.
Dagazau reaffirmedthe commitment of NNPC Ltd. to building an inclusive, secure, and sustainable energy future, calling for purpose-driven innovation and collaboration.
“Together, we can grow beyond boundaries and competition, building an energy future for ourselves and for generations to come,” he said.
Also speaking, Gov. Babajide Sanwo-Olu of Lagos State described the OTL Africa Downstream Energy Week as the continent’s foremost platform for driving energy dialogue, policy reform, and investment.
Represented by Mr Abiodun Ogunleye, Commissioner for Energy Resources, Sanwo-Olu said Lagos had hosted nearly every edition of the event over the years, reinforcing the city’s status as the energy and logistics capital of sub-Saharan Africa.
“We in Lagos take pride in hosting this global event, which has found a home in our city for nearly every edition since it began.
“This enduring relationship reinforces Lagos’s position as a true hub of innovation, enterprise, and strategic investment,” the governor said
Sanwo-Olu commended the OTL Africa platform for its impact, noting that it had influenced major policy shifts and encouraged private-sector participation across the continent.
“Over the years, OTL Africa has played a pivotal role in shaping the agenda for downstream development across Africa, sparking reforms, attracting investments, and driving meaningful change,” he said.
The governor cited recent multi-billion-naira investments by Mainland Oil and Gas and long-term partnerships with Rainoil Ltd. as examples of how engagement through the forum continued to stimulate growth.
He added that global technology firms such as Dover Fueling Solutions had leveraged the platform to introduce automation and digital tools, transforming Africa’s fuel retailing sector.
“These examples underscore the strength of collaboration, the very essence of this year’s theme, Growth Beyond Boundaries and Competition.
“It challenges us to envision a future where sustainability, innovation, and inclusivity shape the African energy landscape.”
The governor reiterated tje commitment of Lagos State to clean energy and inclusive growth through initiatives like the Lagos Electricity Policy and Energy Transition Plan, which promote private participation and sustainable development.
“As Chief Host, I reaffirm Lagos State’s commitment to collaborating with platforms like OTL Africa that bring together policymakers, regulators, investors, and innovators to build a sustainable energy future,” he said.
Sanwo-Olu welcomed delegates and investors, expressing optimism that the forum would unlock new opportunities for Nigeria and the continent.
“I am confident that the discussions and partnerships formed here will open new doors, not just for Lagos, but for Nigeria and Africa as a whole,” he said.
NAN.