Shettima Commissions Northwest Petroleum’s Lagos Headquarters, Says Reforms Boost Oil Sector

Vice President Kashim Shettima has commissioned the ultra-modern corporate headquarters of Northwest Petroleum & Gas Company Limited in Victoria Island, Lagos, describing the facility as a sign of growing indigenous capacity in Nigeria’s oil and gas industry.

Speaking at the commissioning on Friday, Shettima said the new headquarters demonstrated the company’s readiness to operate and compete in an evolving global energy economy.

He said the facility would provide a modern environment for collaboration, innovation and professional development while strengthening the company’s operations across the downstream oil and gas value chain.

“We take particular pride in seeing an indigenous enterprise expand with such conviction. Nigerian ownership must mean Nigerian capacity to compete, invent and deliver,” the Vice President said.

Shettima attributed renewed investment and stronger performance in Nigeria’s oil sector to the economic reforms introduced by President Bola Tinubu’s administration, particularly the removal of petroleum subsidy and reforms in the foreign exchange market.

According to him, the reforms have addressed distortions that previously discouraged productive investment and are helping to restore business confidence.

“The stabilisation of the market is restoring the confidence businesses need to commit capital beyond the next quarter. A business must be able to plan before it can expand,” he said.

The Vice President stressed the importance of private-sector investment in creating employment and expanding economic opportunities, noting that government alone could not create prosperity.

He commended Northwest Petroleum for building a Nigerian presence across the oil and gas value chain since 1998, saying the company’s expansion would create opportunities for young Nigerians, professionals and businesses providing supporting services.

Shettima also urged the company to ensure that the economic benefits of its operations extend beyond its headquarters through increased demand for suppliers, transportation, maintenance and other services.

He congratulated the company’s board and management, led by its founder and Chief Executive Officer, Winifred Akpani, on the completion of the facility.

Earlier, Lagos State Governor Babajide Sanwo-Olu described the private sector as a major driver of economic growth and reaffirmed his administration’s commitment to creating an enabling environment for businesses to thrive.

Sanwo-Olu thanked investors in Lagos, particularly those in the oil and gas, financial services and construction sectors, for contributing to the state’s economic development.

Speaking at the event, Akpani said the new headquarters represented the company’s growth, confidence in Nigeria’s future and commitment to operating to international standards.

“This smart building stands as a symbol of our long-term commitment to Nigeria’s future. It provides a modern environment designed to promote collaboration, strengthen operational efficiency, encourage innovation, and empower the talented people who drive our business,” she said.

She added that innovation, technology, responsible investment, strong partnerships and the development of Nigerian talent would increasingly shape the future of the energy industry.

The commissioning was attended by former Lagos State Governor Akinwunmi Ambode, former Delta State Governor James Ibori, Fatima Aliko-Dangote of Dangote Industries Limited and other business leaders and industry stakeholders.