Nigeria’s oil reserves must be optimally managed, not underutilised — CEGA

Nigeria’s oil reserves must be optimally managed, not underutilised — CEGA

The Centre for Energy Governance and Accountability, CEGA, has backed the federal government’s approval of 37 new crude oil evacuation routes as part of efforts to curb oil theft, improve transparency, and boost Nigeria’s oil production.

Media Talk Africa reports that the Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission, NUPRC, Gbenga Komolafe, announced the approval during the 2025 Nigeria Oil and Gas, NOG Energy Week in Abuja.

He also outlined ongoing reforms to reposition Nigeria’s upstream sector for competitiveness, including collaboration with the military to safeguard vital oil infrastructure.

Commenting on the development in a statement issued on Sunday, CEGA said the new routes represent a strategic move to reduce oil losses and improve operations.

“This is more than a policy change; it’s a serious step toward stopping revenue loss and rebuilding investor confidence,” said Dr Kelvin Sotonye Williams, CEGA’s Executive Director.

Williams noted that since the Petroleum Industry Act, PIA, was passed in 2021, the sector has experienced greater stability, attracting $16 billion in investment under President Tinubu’s administration.

He also mentioned the One Million Barrels Initiative, launched in 2024, which targets raising daily oil production from 1.7 million barrels to 2.5 million by 2026. He said it is already reviving abandoned oil fields and accelerating project approvals.

CEGA stressed the importance of investing in oil production, warning that failing to do so could affect global and regional stability.

“Nigeria’s oil reserves are a national asset. They must be properly managed, not left idle,” Williams said.

He also highlighted the NUPRC HostComply initiative, which tracks oil companies’ compliance with host community responsibilities under the PIA, a key tool for building peace in the Niger Delta.

“Peace needs action, not words. HostComply makes it easier to track promises and results,” he added.

CEGA further praised the commission’s efforts to include environmental accountability in its operations, supporting Nigeria’s 2060 net-zero goal.

“The energy transition isn’t about abandoning oil—it’s about producing it more responsibly,” Williams concluded.

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