‘Nigeria’s Oil, Gas Growth Depends on Turning Reforms into Bankable Projects’

Matthieu Bouyer, the Country Chair and Managing Director of TotalEnergies EP Nigeria Limited, emphasized at the 5th PENGASSAN Energy and Labour Summit (PEALS) 2026 in Abuja that Nigeria's oil and gas industry needs to transform ongoing reforms into tangible projects, increased production, and lasting value. At his keynote address titled "Removing Barriers to Business Growth in Nigeria's Oil and Gas Industry: TotalEnergies as a Case Study of E&P Expansion Amid Bureaucratic Bottlenecks and Regulatory Uncertainties," Bouyer highlighted that Nigeria possesses the necessary resources, talent, industrial history, entrepreneurship, and energy demand to remain a significant energy nation.

However, he cautioned that the crucial factor is execution. Bouyer stressed that Nigeria's oil and gas industry should concentrate on converting potential into concrete projects, higher production, and genuine value. He also stressed that gas resources should be utilized to generate power, LNG, industrial growth, and exports, while reforms must result in enhanced investor confidence.

Bouyer pointed out that the country does not lack potential; the real challenge lies in converting it. According to him, barriers that impede projects affect not only the companies but also national revenue, employment, local content, host communities, workers, and the confidence of potential investors. Bouyer emphasized that stability is essential for growth in the sector, stating that government creates stability through clear policies and effective regulation; regulators achieve stability through predictable implementation; operators demonstrate stability through disciplined investment and safe operations; labor achieves stability through constructive engagement and industrial harmony; and communities achieve stability through trust and shared responsibility.

He further stated that industrial harmony is more than a labor matter; it is a business enabler that supports safety, production, investment, and people development. Bouyer concluded by stating that if Nigeria wants long-term jobs, it must establish the conditions for long-term projects, a competitive industry, and a stable environment where investors, workers, and communities can envision a future.