Speaker Abbas has affirmed that the oil and gas industry, particularly the downstream sector, is witnessing an unprecedented revival under President Tinubu
The Speaker of the House of Representatives, Rep. Tajudeen Abbas, has said that Nigeria’s oil and gas industry particularly the downstream sector is witnessing an unprecedented revival under the progressive leadership of President Bola Tinubu.
The speaker stated this on Monday while declaring open the first annual downstream petroleum week in Abuja, noting that President Tinubu’s Renewed Hope Agenda is reforming and revitalizing key sectors of the Nigerian economy.
Represented by the Deputy Speaker, Rep. Benjamin Kalu, Speaker Abbas said the conference, themed “Celebrating Our Successes, Confronting Our Challenges and Finding Solutions for the Petroleum Downstream Sector,” serves as a timely reminder that Nigeria’s challenges are not insurmountable.
According to him, with collaboration, quality assurance, and self-evaluation by key industry players, practical solutions will continue to emerge to drive national growth.
He said the successful take-off of the Dangote Refinery marks a significant milestone in Nigeria’s pursuit of energy self-sufficiency.
Abbas added that the expected entry of other private indigenous refineries further underscores the need for the National Assembly to create a more functional and enabling environment for industries to thrive.
“I am delighted and excited to welcome you all to the First Annual Downstream Petroleum Week organised by the House Committee on Petroleum Resources (Downstream) in partnership with the Federal Ministry of Petroleum Resources and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
“As I look around at the quality of representation here, I feel confident that this event will become one of the most defining moments in the evolution of the downstream petroleum sector. Our hope is that as thinkers, innovators, workers and policy advocates, your collaboration will finally reshape the industry, setting agenda for growth, transparency and sustainable practices,” Abbas said.
He commended the Chairman of the House Committee on Petroleum Resources (Downstream), Rep. Ikeagwuonu Ugochinyere (PDP Imo), and members of the committee for conceiving and convening what he described as a “historic national conference” that brings together critical stakeholders—including the NNPCL, PENGASSAN, the Dangote Group, and other key oil and gas associations.
“Your participation underscores our shared commitment to progress and reform. Together, we represent the full value chain—policy, regulation, labour, production, and investment—working in one accord to build a stronger energy sector,” he said.
The speaker emphasized that agenda-setting programmes like the Downstream Petroleum Week are instrumental in fostering inclusiveness, trust, and national development.
“Such initiatives not only foster inclusiveness and commitment to genuine national development, but also reinforce citizens’ trust in the commitment of the National Assembly and government institutions in driving sustainable development,” Abbas noted.
He recalled that the transformation currently taking place in the petroleum sector was made possible through the landmark Petroleum Industry Act (PIA) 2021, a comprehensive legislation that reformed governance, administration, and the fiscal framework of Nigeria’s petroleum industry.
“That law restructured the NNPC, transforming it into a commercial entity and established such regulatory bodies as the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), thereby renewing investor confidence, reducing oil pilferage, promoting transparency and competition, and improving operational efficiency,” he said.
According to him, the legislature remains committed to crafting policies, enacting laws, and providing oversight that strengthen the downstream sector and ensure it contributes to a secure, efficient, and resilient Nigerian economy.
“This conference therefore provides an invaluable opportunity for improved legislation. By bringing together government, industry, labour and investors to share perspectives, confront challenges, and develop practical, forward-looking solutions to the challenges in the sector, this forum ensures that the conversations to be had here will inform the framework of any policy in the energy landscape for years to come,” he added.
Ugochinyere Calls for Dialogue on Labour Disputes
In his opening remarks, the Chairman, House Committee on Petroleum Resources (Downstream), Rep. Ikenga Ugochinyere, called on labour unions and industry stakeholders to embrace constructive dialogue in resolving disputes within the oil and gas sector.
Ugochinyere acknowledged recent labour concerns involving the Dangote Refinery and sector unions, stressing that while such issues are not uncommon in developing economies, they must never be allowed to undermine productivity or national stability.
“We are aware of the recent labour concerns involving Dangote Refinery and sector unions. While such issues are not uncommon in developing economies, they must never be allowed to undermine productivity or national stability,” he said.
He urged both labour unions and industry operators to prioritise dialogue over disruption at all times, assuring that the parliament remains committed to facilitating peace, fairness, and mutual respect in all industrial engagements.
“The committee is always ready to mediate where necessary to ensure fairness and sustained productivity,” he said.
Ugochinyere further explained that the Downstream Week is designed to become an annual space for national dialogue where stakeholders assess policies, evaluate progress, and celebrate excellence toward a shared vision for a competitive, transparent, and sustainable downstream sector.
“The Downstream Week is designed to be a recurring space for national dialogue, where we assess policies, evaluate progress, and celebrate excellence toward a shared vision for a competitive and transparent downstream sector,” he added.
