Petroleum Ministry and Stakeholders Reaffirm Commitment to PPP Policy for Infrastructure and Economic Growth
The Ministry of Petroleum Resources, in collaboration with key stakeholders in the oil and gas sector, has reiterated its dedication to advancing Nigeria’s Public-Private Partnership (PPP) framework as a sustainable strategy for economic growth and infrastructure development.
During a stakeholders’ workshop held Thursday in Abuja, themed “Sustainable Future for Nigeria’s Oil and Gas Industry: Concepts, Opportunities, and Challenges of PPP Initiatives,” Permanent Secretary Ambassador Nicholas Agbo highlighted the origins and goals of the PPP framework introduced in 2012.
Harnessing Private Sector Expertise
Agbo emphasized that the PPP framework was designed to address Nigeria’s critical infrastructure deficits by leveraging private sector resources and expertise.
“The Public-Private Migration Policy emerged when the Federal Government of Nigeria recognized that it could no longer bear the full financial burden of providing the infrastructure necessary for the country’s economic growth,” he said. “The collaboration between the private sector and government through PPPs remains essential for sustainable development.”
The policy, he explained, focuses on energy, health, and other critical sectors, promoting projects that enhance productivity and improve the quality of life for Nigerians.
Driving Innovation and Sustainability
Participants at the workshop explored innovative solutions, including renewable energy integration, reducing carbon emissions, and promoting job creation through local content initiatives. These measures aim to ensure a sustainable future for Nigeria’s oil and gas industry while addressing climate change concerns.
Edet Asuquo, Technical Manager at Afric Energy and Infrastructure Ltd, described the workshop as a crucial step in fostering collaboration.
“This engagement is a much-needed awakening for the private and public sectors, reminding both parties of their mutual responsibilities,” he said. “The public sector must create an enabling environment, while the private sector must seize opportunities for innovation and growth.”
Related Posts
Key Takeaways and Future Goals
The workshop reinforced the importance of stakeholder collaboration in optimizing private sector contributions to the oil and gas industry. It underscored the need for ongoing dialogue, actionable recommendations, and policies that align with Nigeria’s long-term economic objectives.
By fostering partnerships, the initiative aims to address infrastructure challenges, improve operational efficiency, and secure a resilient future for the energy sector.
“The synergy between private and public sector efforts is instrumental in driving sustainable growth and ensuring Nigeria’s economy remains competitive in an evolving energy landscape,” Asuquo concluded.
