The Deep Offshore Oil and Gas Project Incentives (Tax Remission) Executive Order 2026 recently signed by President Bola Tinubu has the potential to unlock $50bn in new offshore investments and attract new jobs.
However, Nigeria requires a modern upstream workforce to fully benefit from these opportunities, attract foreign investments and grow its production to 3mbpd by 2030.
At the Oil and Gas Trainers Association of Nigeria (OGTAN) inaugural Human Capital Development (HCD) Conference & Expo 2026 in Warri on Thursday, the Commission Chief Executive, Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Mrs. Oritsemeyiwa Eyesan, said there was a skills gap in the sector due to a drop in offshore oil and gas investments over the last decade.
She noted that in 2014, Nigeria saw investments of up to $26bn in the oil and gas sector but by 2023, the figure had dropped to about $2bn annually.
Eyesan stated, “In that period, the first that we lost were the geoscientists. So, once the budget cuts started, there was no more exploration so the geoscientists had to be offloaded.
“Then some petroleum engineers became casualties because for operators, it was no longer about drilling new wells but it was survival mode.; just maintenance and what have you. Our infrastructure was heavily derated because we were not investing.
“Today we are attracting new investments and so we want to see an upward trajectory. It stands to reason that you must go back to the basics. First of all, we need the right competencies in sub-surface.”
Eyesan, however, said the right competencies must now include the right digital skills.
“But what happened in 2014 is not what we are facing today because the digital age has taken over the business.
“So, you’re not just looking at a driller anymore. Today, you are talking about digital. You must know how to digitally drill,” Eyesan said.
According to the NUPRC boss, the six priority competency areas requiring urgent attention include: Digitalisation, AI and data analytics; advanced subsurface and reservoir management; commercial, fiscal and regulatory expertise; gas development and energy transition competencies; asset integrity, HSE and decommissioning management; and project leadership, stakeholder management and multidisciplinary collaboration.
Eniola Akinkuotu
Head, Media and Corporate Communications