PETAN urges oil revenue to boost living standards
From L: Mr Adeleye Ajayi, the Head of Lagos Operations of the News Agency of Nigeria (NAN); Mr Mufutau Ojo, Editor-in-Chief (NAN), Malam Ali M. Ali, the MD/CEO (NAN); and Chief Joseph Keshinro, the Royal Father of the Day, during the 2025 Annual Strategic Public Lecture/Symposium held as part of the Nigeria Union of Journalists, NAN-Lagos chapel, on Wednesday in Lagos
The Chairman of the Petroleum Technology Association of Nigeria (PETAN), Mr Wole Ogunsanya, says Nigeria’s oil production should improve living standards and strengthen infrastructure nationwide.
Ogunsanya stated this at the 2025 Annual Strategic Public Lecture/Symposium organised by the Nigeria Union of Journalists (NUJ), News Agency of Nigeria (NAN), Lagos Chapter on Wednesday.
The lecture carried the theme, ‘Transforming Energy: The Digital Evolution of Oil and Gas.’
He said current oil production had risen from 1.68 million to 1.7 million barrels per day and was expected to reach two million barrels soon.
According to him, higher output would strengthen the naira and support development projects like railways linking Lagos with northern, eastern, and southern regions without excessive borrowing.
Ogunsanya stressed that revenue generation should sustain national needs, rather than relying heavily on loans, which he said weakened financial independence.
He explained that PETAN consists of over 120 oil servicing firms delivering solutions across exploration, drilling, production, and related activities.
The PETAN chairman compared Nigeria with Norway, saying the Nordic country has saved oil earnings for investment and national development for over two decades.
He noted that, unlike Nigeria’s monthly revenue sharing system, Norway invests its oil wealth in education, infrastructure, and projects that secure long-term prosperity.
On his part, NAN’s Managing Director, Malam Ali M. Ali, said the agency was investing in digital infrastructure, capacity building, and workforce training.
Ali stressed that a motivated workforce was critical to achieving NAN’s mission, adding that staff welfare and professional training remained top priorities under his leadership.
He disclosed that several editorial staff had benefited from training programmes, which the agency planned to sustain to enhance productivity and competitiveness.
Ali expressed honour at welcoming participants to the lecture, describing the theme as both futuristic and thought-provoking for Nigeria’s energy transformation journey.
He said NAN aimed to position itself globally, driven by knowledge-sharing, innovation, and intellectual engagement through initiatives like the Annual International Lecture Series.
The NAN boss expressed confidence that insights from the speakers would enrich understanding of digital transformation in the oil and gas sector.
He commended the organisers and praised NUJ-NAN Lagos leadership for forward-thinking initiatives that align with global trends.
In his remarks, NUJ-NAN Chapel Chairman, Mr Yunus Yusuf, urged stakeholders to harness digital technology for a more transparent, efficient, and sustainable energy future.
Yusuf further encouraged stakeholders to deploy digital tools to drive sustainability, empower communities, and redefine Nigeria’s oil and gas landscape.
He added that media practitioners, by embracing digital innovation, could cut costs, improve safety, optimise operations, and strengthen environmental protection.
