Nigeria’s oil and gas sector is facing a fresh challenge as investment returns after years of decline, with concerns growing over the shortage of skilled professionals needed to support new projects.
The Nigerian Upstream Petroleum Regulatory Commission reported that investment in the upstream sector declined by more than 90 percent to about $24 billion in 2014 to roughly $2 billion this year.
The News Chronicle reports that NUPRC Chief Executive, Oritsemeyiwa Eyesan, attributed the development to the prolonged slump, which has led to the migration of many geoscientists, petroleum engineers and other key personnel and skill gaps.
Speaking at the Oil and Gas Trainers Association of Nigeria’s conference themed: “Upscaling Technical Skill Provisioning for Industry Needs” in Delta State, Eyesan noted the need for more investment in the sector, saying that the country needed to retool and update its training programs to address the needs of the modern oil and gas industry.
Eyesan further said the country must invest in the acquisition of skills in digitalization, geoscience, digital drilling, automation, modeling and real-time analytics.
The renewed investment drive follows government efforts to improve the economics of upstream projects, including the 2026 Deep Offshore Oil and Gas Projects Incentives Order.
Eyesan urged regulators, operators, training institutions and universities to work together to develop a workforce capable of supporting Nigeria’s next phase of oil and gas growth.
