Photo: Mr Eromosele, Editor/Executive Director, CPI
Industry operators and energy experts say that, despite the campaign for clean energy in parts of the Global North, the oil and gas industry is not packing up anytime soon and advised the Nigerian government to prioritise the health of the industry. The experts spoke at the 25th anniversary of the Centre for Petroleum Information (CPI), acknowledged as the country’s foremost energy think tank which was held in Lagos on Friday, October 17, 2025. The event also saw the presentation of the second volume of Energy Insight Nigeria, a compendium of essays on the energy industry.
The book reviewer, Mr Waziri Adio, Executive Director, Agora Policy Institute and a former Executive Secretary of NEITI, commended the book as a repository of information. He stated that “I have found this book to be thought-provoking, insightful, enjoyable, and enriching. The expositions are lucid, the diagnoses are insightful, and the prescriptions are practical. This is not surprising, given the wells of experience and expertise that the writers drew from.” He added that the book “is an important and indispensable resource, an invaluable reference material, a great addition to knowledge. I eagerly recommend it to industry players, policymakers, researchers, journalists, public intellectuals and others who are interested in getting a handle on Nigeria’s still strategic petroleum sector.”
On the fears over the future of oil and gas, Adio said the industry should not be distracted because it will still be a relevant energy source, a point also echoed by industry heavyweights Chief Chambers Oyibo, former GMD of the NNPC; Chief Tunde Afolabi of AMNI International; and Dr Layi Fatona, Chairman of Renaissance Energy; among others who attended the event. They also commended the strides made by local energy players who have increased their stake in the oil and gas industry.
On the impact made by CPI, Chief Oyibo noted that the industry over the last 25 years has transitioned into one in which the indigenous players are coming into reckoning, given how local players like Seplat and Renaissance Energy, among others, have bought up the onshore and shallow water assets of oil majors such as Shell and Chevron. He noted that CPI has played a critical role in developing and harnessing professional capital and providing critical information for the industry to grow.
Dr Fatona, who has been one of the leading technocrats powering indigenous takeover in the industry, spoke on ‘2025: Year of Nigeria’s Changing Industry Landscape: Cause to Rejoice?’. In his conclusion, Fatona said that there is indeed cause to rejoice. He noted that, while output may not have recovered fully to the level a few years ago when Nigeria produced upwards of two million barrels per day, there was improvement in that the “Niger Delta has been quiet at least since January 2025 and operators will tell you that when they put 100 barrels into the pipeline, 100 barrels get to the terminal,” indicating that leakages have been addressed. Fatona stated that contrary to the picture that may be peddled in some circles of oil majors departing the business, the story is one of success and renewal because into the space left by the majors “have stepped a confident generation of Nigerian companies staffed by Nigerian professionals.” While challenges exist, Fatona stated that industry capacity is good and there is cause to rejoice. However, he cautioned that policy and regulation must enable and not be obstacles to progress.
In his address, Mr Victor Eromosele, the book’s editor and a veteran of the industry, said it is a collection of papers and presentations made by industry professionals at CPI events over the last five years. He noted that it was a phenomenal period for the industry with the pandemic of 2020-2021, the passage of the Petroleum Industry Act, the 2023 general election which produced a new administration at the centre and significant transfer of assets within the industry from the majors to local players, all of which tested the resilience of the industry. Energy Insights Vol 2 is the follow-up to Energy Insights Vol 1 which was also edited by Mr Eromosele and published in 2020. This is the third industry-specific book by Mr Eromosele who also authored Nigerian Petroleum Business: A Handbook, published in 1997.
On the reason behind the establishment of CPI, Eromosele who is the Executive Director, stated that it is a multi-disciplinary research-oriented enterprise of oil-industry professionals set up in 2000 to brainstorm on Nigeria’s oil and gas industry. It has professionals from such areas as diverse as engineering, law, finance, marketing and administration and has since evolved into become Nigeria’s foremost energy industry think tank.