Industry experts have urged the Nigerian government to support its ongoing oil and gas reforms with practical incentives that can attract real investment. During the launch of the 2025 Investor Perception Survey, leaders from across the sector emphasized that reform policies must be matched with execution, regulatory clarity, and investor confidence measures.
The event, hosted by Arbiterz Conferences in partnership with Good Governance Africa (GGA), brought together key voices from Nigeria’s energy sector to discuss how the country can position itself as a competitive investment destination.
Gas Development at Risk Without Strategic Action
Dr. Ogho Okiti, Managing Director of Africa Business Convention, praised the government’s reform efforts but warned that Nigeria risks missing out on long-term gains in the gas sub-sector unless it moves beyond policy announcements.
“To attract serious investors, reforms must align with national development goals and be supported by well-targeted incentives,” Okiti explained. “We must resolve foreign exchange challenges, strengthen infrastructure, and ensure that policies lead to tangible real-sector growth—especially in the gas industry.”
He also highlighted ongoing problems such as weak coordination between government agencies and policy execution gaps. According to him, these issues continue to erode investor confidence, despite progress on paper.
Legal Clarity and Skilled Implementation Remain Crucial
Legal expert Dr. Ayodele Oni, a partner at Bloomfield LP, stressed the importance of a predictable and transparent regulatory environment. He noted that while strong laws are essential, what matters even more is how well they are implemented.
“Investors want certainty,” Dr. Oni stated. “They need to know that the rules won’t change midway, and that the people enforcing them are competent, consistent, and fair.”
He called for improved collaboration between regulatory agencies and the judiciary to provide a more stable and transparent environment. For Oni, proper enforcement of policies and legal clarity can significantly boost investor confidence.
Optimism Tempered by Nigeria’s History of Weak Execution
Despite acknowledging the positive direction of recent reforms, Toyin Akinosho, Publisher of Africa Oil & Gas Report, remained cautious. He pointed out that while Nigeria has announced several promising policies, it continues to struggle with consistent execution.
“We’ve seen ambitious reforms before, but many never reached full implementation,” Akinosho said. “Countries like Qatar have shown how sustained commitment to policy can drive investment. Nigeria must prove it can follow through.”
He also advised the government to better showcase existing achievements, such as the growth of local technical capacity and Nigeria’s massive untapped gas reserves. A well-crafted narrative, he said, could reshape global investor perception and draw more attention to the country’s energy potential.
Survey Shows Mixed Investor Sentiment
The newly released 2025 Investor Perception Survey painted a picture of cautious optimism. While many investors welcomed reforms such as the Petroleum Industry Act (PIA) and new Executive Orders, they also expressed concern about ongoing delays, regulatory inefficiencies, and lack of infrastructure.
Dr. Abimbola Agboluaje, Founder of Arbiterz Conferences, said investor sentiment remains influenced by Nigeria’s history of stalled reforms. “The perception of our energy sector is shaped by both past disappointments and the current pace of implementation,” he noted.
According to him, future editions of the survey will focus less on policy intentions and more on measurable results—particularly whether the reforms are attracting significant capital and driving real growth in the sector.
Data-Driven Dialogue Needed to Rebuild Trust
Dr. Ola Bello, Executive Director of Good Governance Africa, emphasized the importance of data-backed conversations in repositioning Nigeria as a credible destination for energy investment. He said consistent, evidence-based engagement with stakeholders would help the country address its reputation gap.
“This survey offers more than just statistics—it provides insight into how investors think,” Bello explained. “Nigeria must show that it listens, adapts, and responds to what investors need: clarity, transparency, and opportunity.”
Bello also announced that the survey’s findings would guide discussions at the upcoming License to Energy event, scheduled for September 2025. With the theme “Pitching Nigerian Gas to the World: How to Structure for Success and Unlock Investment in High-Value Gas Projects,” the event aims to bring together investors, policymakers, and industry leaders to chart a practical path forward.
Unlocking Gas Investment: What Nigeria Must Do Next
Nigeria holds some of the world’s largest untapped gas reserves, but without the right mix of incentives, regulatory clarity, and infrastructure, those resources could remain underutilized. Experts agreed that time is running out, and Nigeria must act now to position itself as a leading gas exporter.
They emphasized that energy investment today is highly competitive. Countries with clear laws, reliable governance, and supportive incentives are already attracting the bulk of global capital. If Nigeria wants to compete, it must provide a stable, transparent environment that rewards long-term commitment.
Turning Reforms Into Results
While Nigeria’s oil and gas reforms represent a step in the right direction, industry leaders stress that real success depends on effective execution. Reforms must lead to visible results—new investments, infrastructure projects, increased gas output, and job creation.
Experts urged the government to prioritize strategic communication, legal enforcement, and inter-agency alignment. Investors, they said, are willing to bet on Nigeria—but only if the country can demonstrate that it takes implementation as seriously as legislation.
Conclusion: A Critical Window of Opportunity
In summary, Nigeria stands at a pivotal moment. With global demand for gas rising and the country’s domestic energy needs growing, now is the time to convert policy into performance. The 2025 Investor Perception Survey makes it clear: reforms alone are not enough. Investors want proof that Nigeria can deliver on its promises.
As preparations for the September License to Energy summit gather pace, all eyes will be on how Nigeria pitches itself to the world. The message from stakeholders is loud and clear—back up the reforms with action, and investment will follow.
