Nigeria Must Convert Reforms Into Concrete Projects, TotalEnergies MD Warns

Nigeria's oil and gas industry needs to move beyond potential and convert ongoing reforms into concrete projects, production growth, and long-term value for the country, according to Matthieu Bouyer, Country Chair and Managing Director of TotalEnergies EP Nigeria Limited.

Speaking at the 5th PENGASSAN Energy and Labour Summit (PEALS) 2026 in Abuja, Bouyer emphasized that Nigeria has the resources, talent, industrial history, entrepreneurship, and energy demand required to remain a major energy country, but warned that the real test is execution.

The industry must focus on turning its potential into concrete projects, higher production, and real value, while reforms should translate into stronger investor confidence. Bouyer highlighted that gas resources should be converted into power, LNG, industrial growth, and exports, and that reforms must unlock these opportunities.

Bouyer stressed the importance of stability in the industry, citing clear policy, effective regulation, disciplined investment, safe operations, constructive engagement, and trust as essential conditions for growth. He noted that investors compare fiscal terms, regulatory stability, execution timelines, security, emissions intensity, cost structure, and the probability of delivery before committing funds.

TotalEnergies has been present in Nigeria since 1956 and remains a strategic partner in the country's energy development. Bouyer highlighted recent exploration licensing rounds in 2024 and 2025 as important milestones in reopening exploration and attracting capital. He emphasized that gas projects require infrastructure, bankable contracts, credible offtake, payment discipline, timely approvals, and commercial frameworks capable of attracting long-cycle investment.