LAGOS — Vice President Kashim Shettima has described the new corporate headquarters of Northwest Petroleum and Gas Company Limited as evidence of growing indigenous capacity in Nigeria’s energy industry.
Shettima spoke in Lagos while inaugurating the company’s new headquarters, saying the investment demonstrated Northwest Petroleum’s intention to remain competitive as the global energy industry undergoes significant transformation.
The Vice President said Nigerian ownership in the oil and gas industry should translate into the capacity to compete, innovate and deliver at international standards.
According to him, bringing strategic leadership and innovation together within the new facility sends a message to investors and customers about the company’s long term ambitions.
Shettima linked renewed investment in the petroleum sector to economic reforms introduced by President Bola Tinubu.
He cited the removal of petrol subsidy and changes in the foreign exchange market as policies intended to address distortions that had discouraged investment.
The Vice President acknowledged that the reforms had imposed considerable sacrifices on Nigerians but said the administration had a responsibility to ensure that economic improvements eventually translated into better living conditions.
He said greater predictability in the foreign exchange market could help businesses plan procurement, investment and expansion more effectively.
Shettima also stressed the importance of private investment in creating employment.
He commended Northwest Petroleum for building an indigenous presence across the oil and gas industry since 1998 and said the company could provide opportunities for young Nigerians and experienced professionals.
The Vice President urged the company to ensure that the new headquarters improved coordination, productivity and operational efficiency.
He also said the investment should create opportunities beyond the company itself by generating demand for suppliers, transportation, maintenance and other services.
Lagos State Governor Babajide Sanwo Olu described private enterprise as an important driver of economic growth and pledged that the state would continue working to create an environment in which businesses could expand.
He thanked companies operating in sectors including energy, finance and construction for continuing to invest in Lagos.
Founder and Chief Executive Officer of Northwest Petroleum and Gas Company Limited, Winifred Akpani, said the new facility represented the company’s growth and confidence in Nigeria’s future.
She said the building was designed to encourage collaboration, improve operational efficiency and support innovation.
Akpani said the future of energy would increasingly depend on technology, responsible investment, partnerships and development of Nigerian talent.
The facility was subsequently commissioned by the Vice President for operations.
