OIL BOOM RETURNS! NWAOCHEI THUNDERS AT NAICE 2026: NIGERIA BACK IN GLOBAL ENERGY RACE AS 31 FIRMS BATTLE FOR 37 OIL BLOCKS! BY RASHEED KOMOLAFE AND AMINAT KOMOLAFE MUSTAPHA
BY RASHEED KOMOLAFE AND AMINAT KOMOLAFE MUSTAPHA
GREATRIBUNETVNEWS–FG’s ₦4 TRILLION BOND TO END BLACKOUT — DECADE OF GAS IS OUR LIFELINE!
Francis Nwaochei, Chairman, SPE Nigeria Council, made the explosive declaration on Monday at the 49th Nigeria Annual International Conference and Exhibition (NAICE 2026) in Lagos, as over 17,000 energy heavyweights converged on Africa’s biggest oil and gas summit.
ITEMISED BOMBSHELLS — IN HIS OWN WORDS:
1. WE OWN THE GAME!
“The Society of Petroleum Engineers remains the world’s largest individual-member professional society serving the upstream and broader energy industry,” Nwaochei boomed.
“Globally, SPE continues to advance technical knowledge, professional excellence, innovation, and the development of the next generation of energy leaders.”
2. NIGERIA’S ENERGY ARMY — 17,000 STRONG!
“In Nigeria, SPE Nigeria Council is one of the Society’s most vibrant councils, with more than 17,000 members, including student members, across six Sections: Lagos, Port Harcourt, Warri, Benin, Abuja and Uyo; and supported by over 50 active student chapters nationwide,” he declared.
3. 50 YEARS OF POWER! NAICE IS WHERE FUTURES ARE DECIDED
“For nearly five decades, NAICE has been the flagship technical event of SPE Nigeria Council and one of Africa’s foremost platforms for executive dialogue, policy engagement, technology showcase, investment promotion, professional development and strategic collaboration,” Nwaochei said.
“It is where ideas are challenged, solutions are shaped, partnerships are formed, and the future of our industry is discussed with clarity and purpose.”
4. WORLD IN CRISIS — ENERGY WAR HAS BEGUN!
“We gather at a defining moment for the global energy industry,” Nwaochei warned delegates.
“Across the world, energy systems are being reshaped by the urgent need for energy security, affordability, sustainability, digital transformation, decarbonization, artificial intelligence, automation, operational efficiency, and responsible resource development.”
5. NIGERIA HOLDS ALL THE ACES
“For Nigeria, this evolving landscape presents both significant challenges and extraordinary opportunities. We have abundant hydrocarbon resources, a growing gas economy, resilient indigenous operators, world-class professionals, an expanding technology ecosystem, and a policy environment that is increasingly focused on restoring confidence and unlocking investment,” he stated.
6. INVESTORS FLOOD BACK — LICENSING ROUND SHATTERS RECORDS!
“Recent developments show that the industry is not standing still. The conclusion of recent licensing and bid rounds, including the 2025 Licensing Round in which 31 companies emerged winners for 37 oil and gas blocks, signals renewed investor interest and a more transparent competitive process,” Nwaochei announced.
7. LIGHT AT LAST! ₦4TRN TO END GENCO DEBT NIGHTMARE
“The Decade of Gas initiative continues to position natural gas as the bridge to industrialization, power reliability, cleaner energy access, and economic diversification,” he affirmed.
“The Federal Government’s plan to settle verified arrears owed to generation companies and gas suppliers through a ₦4 trillion government-backed bond is another important step toward restoring liquidity, confidence and bankability across the power and gas value chain.”
THE FULL TEXT BY THE CHAIRMAN, SPE NIGERIA COUNCIL FRACIS NWAOCHEI
WELCOME ADDRESS BY THE CHAIRMAN, SPE NIGERIA COUNCIL
At the Opening Ceremony of the 49th Nigeria Annual International Conference and Exhibition (NAICE 2026)
Protocols
Your Excellency,
Distinguished Special Guests of Honour,
Honourable Ministers and Government Representatives,
The Leadership of the Society of Petroleum Engineers International,
Members of the SPE Africa Regional Board,
Members of the SPE Nigeria Council Board of Trustees,
Past Chairmen of the SPE Nigeria Council,
Captains of Industry,
Chief Executives and Senior Executives of Operating, Service and Energy Companies,
Regulators, Policy Makers and Development Partners,
Our Esteemed Sponsors, Exhibitors, Technical Papers Authors, Speakers and Panelists,
Distinguished Delegates,
Young Professionals,
Students,
Members of the Press,
Ladies and Gentlemen,
Good morning.
It is a great privilege and honour to welcome you to the Opening Ceremony of the 49th Nigeria Annual International Conference and Exhibition, NAICE 2026.
On behalf of the Society of Petroleum Engineers Nigeria Council, I warmly welcome our distinguished guests, government representatives, regulators, industry leaders, sponsors, exhibitors, speakers, authors, young professionals, students, volunteers, members of the press, and delegates from Nigeria and across the world.
Your presence is a strong statement of confidence in our industry and a demonstration of our shared commitment to technical excellence, collaboration, people development, innovation, and sustainable energy growth.
SPE AND THE SPE NIGERIA COUNCIL
The Society of Petroleum Engineers remains the world’s largest individual-member professional society serving the upstream and broader energy industry. Globally, SPE continues to advance technical knowledge, professional excellence, innovation, and the development of the next generation of energy leaders.
In Nigeria, SPE Nigeria Council is one of the Society’s most vibrant councils, with more than 17,000 members, including student members, across six Sections: Lagos, Port Harcourt, Warri, Benin, Abuja and Uyo; and supported by over 50 active student chapters nationwide.
For nearly five decades, NAICE has been the flagship technical event of SPE Nigeria Council and one of Africa’s foremost platforms for executive dialogue, policy engagement, technology showcase, investment promotion, professional development and strategic collaboration. It is where ideas are challenged, solutions are shaped, partnerships are formed, and the future of our industry is discussed with clarity and purpose.
THE CHANGING ENERGY LANDSCAPE
We gather at a defining moment for the global energy industry.
Across the world, energy systems are being reshaped by the urgent need for energy security, affordability, sustainability, digital transformation, decarbonization, artificial intelligence, automation, operational efficiency, and responsible resource development. Countries and companies are being asked to do more: to supply reliable energy today, reduce emissions, attract capital, deploy technology, and prepare for a lower-carbon future.
For Nigeria, this evolving landscape presents both significant challenges and extraordinary opportunities. We have abundant hydrocarbon resources, a growing gas economy, resilient indigenous operators, world-class professionals, an expanding technology ecosystem, and a policy environment that is increasingly focused on restoring confidence and unlocking investment.
Recent developments show that the industry is not standing still. The conclusion of recent licensing and bid rounds, including the 2025 Licensing Round in which 31 companies emerged winners for 37 oil and gas blocks, signals renewed investor interest and a more transparent competitive process.
The Decade of Gas initiative continues to position natural gas as the bridge to industrialization, power reliability, cleaner energy access, and economic diversification. The Federal Government’s plan to settle verified arrears owed to generation companies and gas suppliers through a ₦4 trillion government-backed bond is another important step toward restoring liquidity, confidence and bankability across the power and gas value chain.
These actions align with the broader vision being articulated by the leadership of Nigeria’s energy sector. The Honourable Minister of State for Petroleum Resources, Oil, has emphasized that Nigeria is returning to the global investment map and that production growth must be sustained through a transparent, predictable and investor-friendly environment. The Honourable Minister of State for Petroleum Resources, Gas, has described the Decade of Gas as more than a slogan, but as a national strategy to harness Nigeria’s gas resources for economic transformation, industrialization and energy transition. NNPC, NUPRC and NMDPRA have also consistently spoken to the need for policy alignment, capital attraction, regulatory efficiency, technology deployment, gas expansion, and the ambition to grow production capacity toward three million barrels per day by 2030. These are not isolated statements; together, they reflect a shared national direction.
NAICE 2026 THEME
Against this backdrop, the theme of this year’s conference could not be more appropriate:
“Thriving in the Evolving Global Energy Landscape: Collaborative Growth and Resilience.”
This theme is more than a conference slogan; it is a call to action and, perhaps more importantly, a timely reflection of the moment we are in.
The reforms, investments, regulatory actions and industry commitments we are witnessing today can be seen as the beginning of what this theme speaks to: resilience. Resilience is the ability to adapt without losing direction; to confront disruption with innovation; to respond to uncertainty with collaboration; and to convert challenges into new pathways for growth.
For Nigeria, resilience means increasing production responsibly, commercializing gas at scale, improving the ease of doing business, strengthening regulatory coordination, deepening local content, attracting long-term capital, and ensuring that the energy industry continues to create value for the economy and society. The conversations we will have over the next three days must therefore move beyond identifying challenges to developing practical, implementable solutions that will position Nigeria as a globally competitive energy destination.
NAICE 2026 PROGRAM
NAICE 2026 has been carefully curated to deliver one of the most comprehensive technical programs in the conference’s history.
Over the next three days, participants will engage in high-quality technical paper presentations, executive panel discussions, topical issues workshops, the Young Professionals Workshop, a Career Fair for emerging leaders, the Women Leadership Program, innovation commercialization and pitch sessions, a technology showcase, a world-class exhibition, and extensive networking and business engagement opportunities.
Today, we are delighted to welcome such a huge amount of registered delegates, representing government institutions, regulatory agencies, international and indigenous operating companies, service providers, academia, research institutions, investors, technology companies and professional bodies from Nigeria and beyond.
APPRECIATION
I sincerely appreciate our wonderful and magnanimous sponsors, exhibitors, corporate partners, government agencies, regulatory institutions, development partners and industry stakeholders. Your support goes beyond sponsoring an event; it is an investment in knowledge, innovation, professional development, technology advancement, human capital development and the future of Nigeria’s energy industry.
I also acknowledge the invaluable contributions of SPE International leadership, the SPE Africa Region, the SPE Nigeria Council Board of Trustees Chair and members, our Past Council Chairpersons, Section leadership, the Conference Planning Committee, Sub-Committee Chairs and members, technical paper reviewers, authors, speakers, volunteers, Secretariat staff, and everyone whose dedication has made this conference possible.
To our young professionals and students, I encourage you to maximize every opportunity this conference offers. Ask questions, participate actively, seek mentors, build lasting professional relationships, explore emerging technologies, and prepare yourselves to become the leaders who will shape the future of our industry.
A CALL TO ACTION
Distinguished Ladies and Gentlemen,
Nigeria’s energy future will be determined not only by the resources beneath our soil, but most importantly how we develop technical solutions that solve our own unique energy challenges, the quality of our leadership, the strength of our institutions, the clarity and stability of our policies, our willingness to innovate, and our commitment to collaboration.
Let us therefore use this conference to challenge conventional thinking, share best practices, strengthen partnerships, attract investment, promote indigenous capacity, accelerate innovation, and develop practical solutions that will deliver lasting value for our industry and our nation.
Let us leave NAICE 2026 with renewed purpose, stronger partnerships, and actionable commitments that will drive collaborative growth and resilience across Nigeria’s energy sector.
NAICE 2027
Before I conclude, I am pleased to announce that NAICE 2027 will mark the Golden Jubilee (50th Anniversary) of the Nigeria Annual International Conference and Exhibition.
The conference is scheduled to hold from 2–4 August 2027, while the professional training courses will take place from 31 July–1 August 2027.
We look forward to welcoming the African and global SPE community as we celebrate this historic milestone in the evolution of the SPE Nigeria Council.
CONCLUSION
As I officially welcome you to NAICE 2026, I encourage every delegate to participate actively, engage meaningfully, visit the exhibition which are critical to this conference, attend the technical sessions which are at the core of the technical solutions that we seek, build new partnerships, and contribute to the conversations that will shape the future of our industry.
I want to also specially recognize the company i work for, the global company most admired for its people, partnerships and performance- Chevron Nigeria Limited for the incredible support i have received throughout this council year and for this conference- thank you,
Thank you for honouring our invitation and for your continued commitment to advancing Nigeria’s energy industry.
I wish you a productive conference, rewarding engagements, and a memorable stay in Lagos.
Thank you.
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