Founder of the Gender Equality and Development Initiative (GEADI), Temitope Lamidi has tasked regulatory agencies and concerned stakeholders to strengthen the implementation of the Petroleum Industry Act, 2021, to boost investor confidence in Nigeria’s oil sector by making the sector more transparent and globally competitive.
Lamidi gave the charge against the backdrop of the general counsel and legal advisers forum organised by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
She said the forum, held in Abuja on June 29, 2026, with the theme: “Beyond Compliance: Driving Regulatory Certainty and Investment Confidence in Nigeria’s Petroleum Sector,” reflects Nigeria’s determination in building an investment environment in the oil sector built on transparency, consistency, accountability and legal certainty, qualities critical to attracting long-term investment.
The GEADI founder noted that the initiative also aligns with the Tinubu administration’s Renewed Hope Agenda, which seeks to strengthen investor confidence and promote sustainable economic growth.
According to her, regulatory certainty extends beyond legal and administrative compliance, but provides investors with confidence that government policies, laws and regulations will be implemented fairly, consistently and transparently, without sudden policy changes capable of disrupting investment decisions.
The founder explained that a stable regulatory environment, encourages fresh capital inflows, supports infrastructure development, stimulates industrial expansion and creates employment opportunities across the petroleum value chain.
However, the GEADI founder argued that attracting investment should not be viewed as the ultimate goal.
“The real measure of success is ensuring that investments translate into tangible benefits for Nigerians through job creation, technology transfer, indigenous enterprise development, skills acquisition and equal opportunities for women and young people,” she said.
The founder further stressed that achieving these objectives requires effective legislative oversight, saying that the Senate Committee on Local Content occupies a strategic position in ensuring that regulatory reforms produce measurable benefits for Nigerians by strengthening the implementation of local content policies.
She said effective legislative oversight would ensure that investments not only improve investor confidence, but also increase Nigerian participation in the petroleum industry, strengthen indigenous companies, encourage technology transfer and expand employment opportunities.
The GEADI founder noted that the Nigerian Oil and Gas Industry Content Development Act, 2010, was enacted to maximise the utilisation of Nigerian human and material resources within the petroleum industry.
According to the founder, as implementation of the Petroleum Industry Act continues, closer collaboration among regulators, industry operators and the Senate Committee on Local Content will be necessary to ensure that investment growth and local content development progress simultaneously.
From a gender perspective, the founder described the ongoing reforms as an important opportunity to address long-standing inequalities within the petroleum industry.
She observed that women remain under-represented in several high-value segments of the oil sector, including engineering, technical operations, executive leadership, procurement and other specialised roles.
“This imbalance has contributed to the economic marginalisation of many women and, more broadly, to the feminisation of poverty,” the founder stated.
The founder maintained that greater regulatory certainty could help reverse the trend by encouraging new investments that create opportunities for professionals, contractors, consultants and entrepreneurs.
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According to the founder, when supported by effective local content implementation and equal opportunity policies, increased investment can significantly improve women’s participation throughout the petroleum value chain.
Conversely, the founder warned that inconsistent policy implementation and regulatory uncertainty often have a disproportionate impact on women-owned businesses and female professionals, many of whom possess fewer financial resources to withstand prolonged uncertainty or regulatory disputes.
“Regulatory certainty is therefore not only an economic necessity but also a gender equality imperative,” the founder added.
The GEADI founder reiterated that investor confidence and local content development should be viewed as complementary rather than competing objectives.
