The highly anticipated Nigerian International Energy Summit will take place in Abuja, Nigeria’s capital, from February 27th to March 3rd, 2022. The Summit is the Nigerian government’s official energy industry event, bringing together regional energy experts and foreign investors for a week of discussion, agreements, and decision-making about the country’s energy sector.
Abdulaziz bin Salman Al Saud, Saudi Arabia’s Minister of Energy, and key African government officials will converge in Abuja, Nigeria, for the event. Dr. Mohammad Sanusi Barkindo, the former secretary-general of the Organization of Petroleum Exporting Countries (OPEC), has also confirmed his attendance at the international summit.
“It has been our tradition from the beginning. We gather global energy leaders, best brains, and key policymakers from across the world to chart the way forward and posit our strategies for the management of Africa’s huge energy resources”, stated Mr. James Shindi, managing director of Brevity Anderson, the event producer.
In both Nigeria and the region, the Nigerian International Energy Summit is a must-attend event. The Summit takes place at a time when the country is implementing ambitious industry reforms and sectoral improvements in order to position itself as a competitive and highly attractive investment destination. The Petroleum Industry Bill (PIB) – a consolidated legislative framework that ensures both a transparent and robust energy industry – was passed into law by the Nigerian senate in 2021 and is the most notable of these. The PIB has played a key role in bolstering Nigeria’s energy environment and positioning the country as a top hydrocarbon investment destination.
Shindi also notes that “the biggest issue in Nigeria’s energy sector over the last 20 years is the Petroleum Industry Bill (PIB) that metamorphosed into the PIA.
“Industry stakeholders are now saddled with the implementation of the PIA, and the NIES platform would provide that stage for thorough scrutiny of the Act and the journey so far with the implementation. Several unsuccessful attempts were made to push it past the finish line until last year that it became an Act. It is a major feat by the Buhari presidency. It is a landmark. It is a historic development and it is a phenomenon. What we are saddled with right now is its implementation”.
Nigeria has positioned itself as one of Africa’s leading producers, with crude oil reserves of approximately 37 billion barrels. As production from aging oilfields declines and multinational oil companies divest from African assets, the country is focusing on boosting exploration. Nigeria has set its sights on becoming an even more powerful oil player by offering attractive incentives for explorers, introducing a marginal field bid round, and making a strong drive for foreign investment.
Nigeria is a major player in the oil and gas industry in Africa. The country is poised to engage in an industrial revolution, thanks to large reserves, a robust regulatory framework, and the proper political will.
The Nigeria International Energy Summit (N.I.E.S), formerly known as the Nigeria Petroleum Summit (NIPS), is an annual gathering of international energy leaders, ministers, policymakers, academicians, information technology experts, industrialists, international energy journalists, businessmen, young people, and exhibitors, now in its fifth edition.
“No doubt, the Nigeria International Energy Summit (N.I.E.S) has lived up to its billing as Africa’s most influential energy industry event. We designed it to be the continent’s largest and most important industry platform providing linkage to the world for engineering and technological breakthroughs, major contract sign-offs, and side events,” Shindi explained.
