Five key takeaways from the ‘Policy in Practice’ session at NAICE 2026

By Firdaus Jibril

The “Policy in Practice” panel session at the 49th Society of Petroleum Engineers (SPE) Nigeria Annual International Conference and Exhibition (NAICE) focused on how Nigeria can translate existing energy policies into tangible economic growth.

Discussions centered on investment, governance, local content, collaboration, and the future of the country’s oil and gas industry.

Participants strongly emphasized that Nigeria already possesses a sufficient number of policy frameworks for the energy sector.

The primary challenge lies in ensuring these policies are implemented consistently to encourage investment and deliver concrete results.

Furthermore, the discussion highlighted that investors are placing greater emphasis on transparency, accountability, and Environmental, Social, and Governance (ESG) standards before committing funds.

Consequently, strong governance was identified as a critical factor in building and maintaining investor confidence.

On the topic of capacity building, speakers stressed that local content must extend beyond simply increasing Nigerian participation in the sector. Targeted investments in technical training, mentorship, research, and human capital development are essential to strengthening local expertise and preparing the next generation of industry professionals.

Another major focus was the pressing need for better communication with both the public and global investors. The panel noted that misinformation and poor public perception actively discourage investment, making transparency and proactive engagement increasingly crucial.

Finally, the session concluded that stronger partnerships among indigenous operators, service companies, regulators, academia, and other key stakeholders will be vital to driving industry growth. Collaborative efforts, rather than fragmented approaches, will prove essential as Nigeria seeks to boost production and advance toward its target of three million barrels of oil per day.

The panel underscored that the future of Nigeria’s energy sector will depend not on drafting additional policies, but on rigorously implementing existing reforms, enhancing governance, investing in human capital, and fostering strategic collaboration across the entire industry.