Lagos: A former Deputy Editor-in-Chief of the News Agency of Nigeria (NAN), Mr Goddy Ikeh, emphasized the pivotal role of media in shaping Nigeria’s economic growth during a one-day training session for journalists. The event took place at the Lagos Airport Hotel in Ikeja and was sponsored by Chevron in collaboration with the Nigeria National Petroleum Corporation (NNPC).
According to News Agency of Nigeria, the training, themed ‘Shaping Nigeria’s Business and Economic Growth: Insights from the Media’, featured a lecture by Ikeh titled ‘Unlocking the Full Potentials of Nigeria’s Oil and Gas Sector for Sustainable Economic Growth’. Ikeh highlighted the oil and gas sector’s historical significance as the backbone of Nigeria’s economy, discussing its progress, challenges, and the strategies needed to unlock its full potential.
Ikeh noted that Nigeria’s crude oil production exceeded the Organisation of Petroleum Exporting Countries (OPEC)’s quota of 1.5 million barrels per day as of June this year. However, he pointed out that the current output, although increased from 1.45 million barrels per day in May, still falls short of the 2.06 million barrels per day target set for the 2025 budget.
Despite efforts by oil and gas agencies and local operators, Ikeh identified several persistent challenges in the industry, including inadequate infrastructure, lack of a unified pricing structure for petroleum products and gas, absence of capacity-building structures, environmental remediation issues, gas flaring, reservoir maintenance deficiencies, and theft of crude oil and petroleum products.
Ikeh stressed the media’s critical role in shaping public narrative through accurate reportage and information dissemination. He advocated for comprehensive coverage of the oil and gas sector, timely execution of projects, accountability of industry players, and vigilant monitoring of industry developments.
In his recommendations, Ikeh called for enhanced collaboration among stakeholders, including government, regulators, investors, and communities, to sustain the industry’s momentum. He emphasized the importance of integrating assets across the gas value chain and adopting capital-efficient models to deliver long-term value. Additionally, Ikeh urged the government to maintain investment in the oil and gas sector while addressing pressing social needs.
