The Centre for Energy Governance and Accountability (CEGA) has called on the Federal Government to prioritize the strategic management of Nigeria’s vast oil reserves, warning that underutilization could spell long-term economic and security challenges for the nation.
This call comes in the wake of the Federal Government’s recent approval of 37 new crude oil evacuation routes, announced by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) during the 2025 Nigeria Oil and Gas (NOG) Energy Week held in Abuja.
According to NUPRC Chief Executive, Gbenga Komolafe, the new evacuation routes aim to curb rampant oil theft, enhance production transparency, and reposition Nigeria’s upstream oil sector for greater global competitiveness. He also emphasized ongoing partnerships with the military to secure oil infrastructure.
In a press statement on Sunday, CEGA’s Executive Director, Dr Kelvin Sotonye Williams, described the move as “a critical intervention that aligns with the urgent need to halt oil revenue losses and restore investor trust in Nigeria’s energy sector.”
“This is more than a policy reform; it’s a strategic shift to safeguard national revenue and energize investor confidence,” Williams stated.
Williams noted that since the enactment of the Petroleum Industry Act (PIA) in 2021, the Nigerian oil sector has achieved significant regulatory stability, which has, in turn, attracted over $16 billion in investments under President Bola Tinubu’s administration.
A major highlight of the post-PIA era is the One Million Barrels Initiative, launched in 2024. The initiative aims to increase Nigeria’s daily oil production from 1.7 million barrels to 2.5 million barrels by 2026. Already, it has led to the revival of dormant oil fields and expedited project approvals across the sector.
“Nigeria’s oil reserves are a strategic national asset. They must not be left idle or mismanaged. Proper investment in exploration, security, and accountability will determine whether we grow as a nation or remain stagnant,” Williams cautioned.
CEGA also commended the NUPRC’s HostComply initiative, which tracks oil companies’ compliance with host community obligations as mandated by the PIA. According to the group, the system is essential for maintaining peace in oil-producing regions like the Niger Delta.
“Peace in the Niger Delta requires consistent delivery, not just promises. HostComply provides a transparent framework to measure corporate accountability,” Williams emphasized.
On the global front, CEGA welcomed the NUPRC’s efforts to integrate environmental governance into oil sector reforms. The group reaffirmed its support for Nigeria’s 2060 Net-Zero Emissions Target, but stressed that the country must not abandon oil outright.
“The energy transition isn’t about turning our backs on oil—it’s about producing it responsibly and sustainably,” Williams concluded.
As Nigeria seeks to strengthen its fiscal base amid economic uncertainty, CEGA’s intervention underscores the urgent need for proactive policies that combine production growth, environmental responsibility, and inclusive community development.