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 significant development for Nigeria’s oil and gas industry.
Shettima, who spoke today at the commissioning ceremony, said the new headquarters demonstrated the capacity of indigenous businesses to compete, innovate and deliver at international standards.
He said the facility sends a strong message to investors, customers and Nigerians that the indigenous petroleum company is positioned to remain relevant for decades amid changes in the global energy landscape.
“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 improved performance in Nigeria’s oil and gas sector to the economic reforms of President Bola Ahmed 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 added that greater exchange-rate predictability would strengthen procurement, improve investment decisions and support production.
He assured businesses that the Federal Government would continue to create conditions that reward enterprise, encourage technological advancement and sustain economic growth.
Shettima also stressed the importance of private-sector investment in creating employment and economic opportunities, noting that government alone could not create prosperity.
He commended Northwest Petroleum & Gas Company Limited for building a strong Nigerian presence across the oil and gas value chain since its establishment in 1998.
According to him, the company’s expansion would provide opportunities for young Nigerians, create professional development prospects and contribute to building the skills required to sustain the country’s energy industry.
He also urged the company to ensure that the economic benefits of its operations extend beyond its corporate headquarters through increased demand for suppliers, transportation, maintenance and other services.
“A centralised corporate hub must also sharpen efficiency, improve coordination and increase productivity across your expanding operations,” Shettima said.
The Vice President congratulated the board and management team led by the company’s founder and Chief Executive Officer, Mrs Winifred Akpani, for completing 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 commended private investors for their contributions to the development of Lagos, particularly in the oil and gas, financial services and construction sectors.
He also thanked the Vice President for attending the commissioning, describing his presence as a demonstration of his support for the development of Lagos and the wider Nigerian economy.
In her remarks, Akpani said the new headquarters represented the growth of Northwest Petroleum, its confidence in Nigeria’s future and its determination to build a modern indigenous company capable of operating at the highest 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.
Akpani said the future of the energy industry would increasingly depend on innovation, technology, responsible investment, strong partnerships and the development of Nigerian talent.
The event was attended by former Lagos State Governor Akinwunmi Ambode; former Delta State Governor James Ibori; Group Executive Director, Commercial Operations, Oil and Gas, WAEP and Fertilizer, Dangote Industries Limited, Fatima Aliko-Dangote, and other captains of industry.
