Nigeria's Oil Sector: A New Mandate

A New Mandate for Nigeria's Oil Sector

The Nigerian Government is taking decisive action to revitalize its petroleum industry, issuing a clear ultimatum to oil companies: deliver results or relinquish assets.

The Production Paradox

Despite the landmark Petroleum Industry Act (PIA) designed to boost the sector, Nigeria's oil output has not met expectations. The Minister of State for Petroleum Resources expressed frustration that production is now lower than pre-PIA levels, signaling that regulatory reform alone has not solved the underlying issues of under-investment and dormant assets.

This decline prompted the government's new, aggressive stance to ensure the nation's resources are actively developed.

The "Drill or Drop" Policy

The government is enforcing a clear process to end the era of speculative or dormant license holding. The message is simple: activate development plans or the license will be revoked.

1

License Review

Comprehensive review of all existing operatorship agreements and field statuses.

→

2

Performance Check

Evaluation of technical and financial capacity against the approved work plan.

→

3

Ultimatum Issued

Underperforming firms are given a clear timeframe to commence production or "step aside".

→

4

License Revocation

Failure to comply results in withdrawal of the license, freeing the asset for serious investors.

A Two-Pronged Approach

The government's strategy targets two critical areas that have hindered growth: underperforming operators and weaknesses in the local content framework.

Tackling Dormant Assets

A primary goal is to end the practice of holding licenses for speculative purposes rather than for active production, which ties up valuable national resources.

Strengthening Local Content

Reforms aim to eliminate "briefcase contractors" and ensure that EPC contracts contribute meaningfully to the local economy and capacity building.

The Path Forward: A Call for Partnership

The ultimate goal is to create a more dynamic, productive, and competitive energy sector that benefits all Nigerians.

💸

Attracting Serious Investment

Creating an environment where operators with proven technical and financial capacity can thrive and contribute to national production targets.

🤝

Building Genuine Partnerships

Encouraging joint ventures and agreements that align with national strategic objectives and deliver tangible value, rather than holding the sector hostage.

Source: Analysis of reports from the 2025 Nigerian Oil and Gas Conference. Data is illustrative.

A Man In The Mirror: The Transformative Power of Mentorship in Business

 

A Man In The Mirror

The Transformative Power of Mentorship in Business. A mentor helps you see yourself more clearly – your potential, your blind spots, and the path ahead.

Why Mentorship Isn't Just Beneficial, It's Essential

Click on each card to explore the core benefits of having a mentor.

Unparalleled Guidance

❯

A mentor brings a wealth of real-world experience to the table. They've likely faced similar obstacles, celebrated similar victories, and can offer practical advice that no textbook or online course can replicate. Their insights can save you countless hours, costly mistakes, and unnecessary stress.

Expanded Network

❯

Mentors often have extensive professional networks. Through their connections, you can gain access to valuable contacts, potential partners, investors, or even future employees that would otherwise be out of reach. This can open doors to new opportunities and collaborations.

Accelerated Skills

❯

A good mentor doesn't just tell you what to do; they help you develop the skills to do it yourself. Whether it's refining your leadership style, improving negotiation tactics, or mastering strategic planning, a mentor can provide targeted feedback and exercises to sharpen your abilities.

Accountability & Motivation

❯

Starting or growing a business can be a lonely journey. A mentor provides a crucial layer of accountability, pushing you to stay focused on your goals and celebrating your progress. Their belief in your potential can be a powerful motivator during challenging times.

Avoiding Common Pitfalls

❯

Experience is the best teacher, but learning solely from your own mistakes can be slow and expensive. A mentor can help you anticipate and sidestep common entrepreneurial traps, from financial mismanagement to team conflicts, by sharing their own lessons learned.

Building Confidence

❯

Navigating uncertainty is a constant in business. A mentor can provide reassurance, validate your ideas, and help you maintain perspective when things get tough. Their objective viewpoint can help you see solutions where you might only see problems.

Finding Your "Man in the Mirror"

The path to mentorship is a proactive one. It's about finding someone who empowers you to solve problems yourself. Here’s a simple roadmap.

1

Admire & Identify

Look for individuals whose careers you admire and who possess skills you want to develop.

2

Be Clear on Goals

Be clear about what you hope to gain from the relationship and show genuine interest in helping others grow.

3

Listen & Learn

Be prepared to actively listen, absorb feedback, and put in the dedicated work required for growth.

An Investment In Yourself

In essence, mentorship is about embracing the wisdom of those who have gone before you, allowing them to serve as a mirror reflecting your true capabilities, and guiding you towards becoming the best version of yourself in the business world.

Nigeria to Revoke Idle Oil Field Licenses, Issues Ultimatum to Underperforming Firms

The Nigerian government has declared its intention to revoke the licenses of oil companies holding dormant oil fields and has issued a stern ultimatum to underperforming firms. This move is part of a broader strategy to revitalize the nation's declining oil output and maximize value from its hydrocarbon resources.

Speaking at the 2025 Nigerian Oil and Gas Conference (NOG) in Abuja, Senator Heineken Lokpobiri, the Minister of State for Petroleum Resources (Oil), emphasized that the government will no longer tolerate companies "sitting on critical national resources" without