Former Minister of State for Petroleum Resources, Prof. Emmanuel Ibe Kachikwu, has called for bold reforms, policy stability, and stronger local participation in Nigeria’s oil and gas industry to reposition the sector for sustainability and competitiveness in the face of global energy transition.
Kachikwu, who made the call on Monday while delivering a lecture at the Nigerian Content Development and Monitoring Board (NCDMB) Headquarters, Yenagoa, during the 2025 edition of the NCDMB Business Mentorship Lecture Series, noted that oil theft, pipeline vandalism, underinvestment, and regulatory uncertainty have worsened the sector’s decline in recent years
He said the challenges lead to a sharp fall in production from over 2.1 million barrels per day in 2017 to below 1.4 million barrels in 2023
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