Nigeria's oil and gas industry is pivoting toward technology adoption and stronger local capacity as a defense against global market volatility.
Industry stakeholders gathered at the recently concluded Nigeria Oil and Gas (NOG) conference emphasized that enhancing domestic capabilities is essential for sustaining economic growth in the energy sector.
The panel, titled 'Driving Energy Innovation: Technology-Powered Pathways for Oil and Gas,' highlighted the need for structural improvements to mitigate external shocks.
The push for localization comes as rising global oil prices continue to pressure the domestic economy.
According to recent reports, higher international crude costs are squeezing margins for manufacturers reliant on imported raw materials, underscoring the urgency for Nigeria to strengthen its internal energy value chain.
By reducing dependence on foreign technology and services, the sector aims to create a more resilient supply chain capable of withstanding global price swings.