Reforms in Nigeria’s oil and gas sector may not be enough on their own to draw in investment—targeted incentives and proper execution are critical, according to experts at the 2025 Investor Perception Survey presentation held by Arbiterz Conferences in partnership with Good Governance Africa (GGA).
Reforms Applauded, but Gaps Remain
Dr. Ogho Okiti, Managing Director of Africa Business Convention, praised the government’s reform efforts but stressed that policy tweaks must align with national goals and be backed by practical incentives.
“To attract serious investment, we must fix FX constraints, offer compelling incentives, and drive real sector growth—especially in the gas sub-sector,” said Okiti.
He also warned that without infrastructure development and clear policy direction, Nigeria could miss out on long-term opportunities in gas, a sector where the country holds immense potential.
Legal Clarity Is Crucial
Dr. Ayodele Oni, Partner at Bloomfield LP, highlighted the importance of predictability in Nigeria’s legal and regulatory environment.
“Investors want certainty. Even the best laws won’t matter if the right people aren’t in place to implement them,” he said.
Oni called for greater coordination among regulatory bodies and the judiciary, urging a transparent and consistent approach to policy enforcement that gives investors the confidence to commit capital.
Cautious Optimism in the Industry
Mr. Toyin Akinosho, Publisher of Africa Oil & Gas Report, took a more reserved tone. While he acknowledged that reforms are heading in the right direction, he noted that stakeholders remain hesitant due to past inconsistencies and poor execution.
Comparing Nigeria to countries like Qatar, Akinosho said sustained policy action is key. He encouraged the government and industry leaders to showcase success stories—like growing local capacity and Nigeria’s untapped gas reserves—to shift global investor sentiment positively.
Survey Findings: Hopeful but Watchful
The 2025 Investor Perception Survey reflects guarded optimism. Many respondents are encouraged by moves like the Petroleum Industry Act (PIA) and new Executive Orders—but still skeptical due to delays, regulatory issues, and structural roadblocks.
Dr. Abimbola Agboluaje, Founder of Arbiterz Conferences, explained that investor confidence is still shaped by past disappointments in the sector.
“Future surveys will be driven more by the outcomes of reforms than their design,” he said. “What matters now is how well they’re implemented.”
Next Steps: Pitching Nigerian Gas to the World
Dr. Ola Bello, Executive Director of GGA, emphasized the need for data-driven policy dialogue to make Nigeria more attractive to global investors.
He pointed to the upcoming License to Energy series, scheduled for September 2025, themed:
“Pitching Nigerian Gas to the World: How to Structure for Success and Unlock Investment in High-Value Gas Projects.”
This event is expected to continue the momentum and provide a platform for serious investment discussions in Nigeria’s vast gas sector.
