The Managing Director and Country Chairman of TotalEnergies Exploration and Production Nigeria Limited, Matthieu Bouyer, has identified policy stability, faster regulatory processes, security, industrial harmony and investment in people as critical to removing barriers to business growth in Nigeria’s oil and gas industry.
PENGASSEN President,Cmr. Festus Osifo presenting an Award to the MD TotalEnergies, Mr. Bouyer on Wednesday
Bouyer made the submission while delivering a keynote address at the 5th PENGASSAN Energy and Labour Summit in Abuja, with the theme, “Removing Barriers to Business Growth in Nigeria’s Oil and Gas Industry.”
He said Nigeria had no shortage of resources, talent, industrial experience or energy demand, stressing that the major challenge was converting the country’s enormous potential into production, energy projects, jobs, industrial growth, exports and value for Nigerians.
According to him, instability and delays in project execution do not only affect oil companies but also have consequences for government revenues, employment, host communities and the confidence of prospective investors.
“Nigeria does not lack potential. There are resources, talents, industrial history, strong materials, energy demands, and Nigeria has a key role to play in meeting Africa’s future energy needs. The real challenge is about conversion,” he said.
Bouyer stressed that stability was a shared responsibility among government, regulators, operators, labour unions, investors and host communities.
He explained that government must provide clear policies and regulations, regulators must ensure predictable implementation, operators must maintain disciplined investment and safety standards, while labour and communities must contribute through constructive engagement, industrial harmony, trust and shared responsibility.
He said industrial harmony should no longer be viewed merely as a labour issue, but as a critical component of safety, production, investment and workforce development.
“Industry harmony is not only about the labour matter. It is about business and labour working together for safety, production, investment and people development,” Bouyer stated.
The TotalEnergies executive also emphasised the need for Nigeria to remain competitive in attracting global capital, noting that investors compare countries based on fiscal terms, timelines, emissions, costs, profitability and energy policies.
He acknowledged recent reforms in the Nigerian oil and gas sector, particularly the Petroleum Industry Act (PIA), fiscal incentives for gas development and measures aimed at reducing project timelines and improving the investment environment.
Bouyer said the recent increase in exploration activities was an encouraging development, noting that sustained exploration was necessary to replenish reserves and prevent future declines in production and employment.
He called for continued reforms that would provide investors with “clear rules, standards, stable interpretation and predictable processes.”
According to him, speed must also become an integral part of Nigeria’s business environment, as delays could significantly reduce the value and competitiveness of projects.
“A project delayed by one year is not simply postponed. It loses value, becomes harder to justify and competes less effectively in the global portfolio,” he said.
Bouyer identified seven key priorities for strengthening Nigeria’s oil and gas industry: policy stability and consistency, faster project and contracting processes, gas development, security, national competitiveness and local content, investment in workers, and stronger engagement with host communities.
On gas, he said the sector must continue to be treated as a national growth engine capable of supporting power generation, industrialisation and domestic energy supply.
He also highlighted security as a major factor affecting the competitiveness of Nigeria’s oil and gas industry, saying the improvement of security in producing areas was essential for restoring confidence and reducing operating costs.
On local content, Bouyer said Nigeria should continue creating opportunities for indigenous companies, contractors and professionals, but stressed that local content must be driven by performance, quality, sustainability and value creation.
He further called for greater investment in workers, saying a competitive industry must prioritise skills development, project safety, maintenance, construction safety and constructive dialogue between employers and employees.
The TotalEnergies executive also stressed the importance of host communities, saying no oil and gas project could succeed without community acceptance.
He described the community development mechanisms provided under the Petroleum Industry Act as an important framework and urged operators and other stakeholders to continue engaging communities transparently.
Bouyer said execution discipline was equally important, arguing that policies and reforms would only create value when translated into projects delivered safely, on time and within cost.
In conclusion, he said Nigeria remained well positioned to maintain its status as a major energy-producing country because of its resources, talent, growing market and production ambitions.
He reaffirmed TotalEnergies’ commitment to Nigeria, particularly in safe operations, investments in gas development and efforts to reduce emissions.
“Our collective ambition is high, and we shall work together to place Nigeria as one of the most attractive oil and gas investment destinations,” Bouyer said.
He added that the strength of Nigeria’s oil and gas industry should ultimately be measured not by the volume of policies or discussions, but by the number of projects successfully developed and the lasting value created for the country, workers, communities and investors.
