For the first time, Nigeria's Chief Technology Officers and Chief Information Officers will convene in Lagos to explore technology's role in transforming the oil and gas industry. The three-day retreat, organized by CPAAT Consulting, focuses on using smart technologies to enhance production, security, and environmental monitoring. Industry leaders aim to address challenges that have cost the sector billions in lost revenue.
The retreat, scheduled from November 7 to 9, 2025, at GRA, Ikeja, in Lagos, carries the theme 'Transforming the Oil and Gas Sector with Smart Technology.' Organized by CPAAT Consulting, it brings together CIOs, CTOs, decision-makers from oil, gas, and energy sectors, along with technology innovators, regulators, and enterprise partners across Africa's digital economy.
Folarin Banigbe, CEO of CPAAT Consulting, emphasized the event's goal: 'The three days retreat is aimed at getting CIOs to lead digital transformation required in the oil industry.' He highlighted Nigeria's production shortfall, noting that war-torn Libya produces about 3 million barrels per day compared to Nigeria's 1.5 million, despite having capable personnel. 'We have sound people in the industry so, there is opportunity for Nigeria to do more,' Banigbe said.
Banigbe pointed to the consequences of inadequate technology adoption, including billions in lost dollars from events like the Ogoni oil spillage, which halted drilling due to environmental degradation and community unrest. He attributed much damage to human factors and equipment failures, which could be prevented through monitoring technologies for pipelines. 'If there were not spills, there won’t have been environmental damage, if there is no environmental damage, there won’t be community unrest which eventually shortens millions of dollars of production,' he explained.
The discussion will cover deploying technology for oil leak monitoring to safeguard the environment and output, as well as AI-driven operations, smart security systems, and data-driven governance. Banigbe stressed the need for a collaborative approach beyond silos to increase production, reduce waste, and improve efficiency in a sector burdened by high operating costs from security issues and unrest. Technologies like drones could predict pipe replacements and detect cracks in real time, enhancing the value chain from procurement.
Kayode Mustapha, CEO of Gididrone Services, added: 'With new technology, we can get more oil than what we thought we had and help us to get more out of the ground. An average well today costs $10 million and can either be broken or dry up but with technology, data and information could form decision and give confidence.'
The event aims to foster a reflective space for sharing experiences and tackling leadership challenges to redefine digital leadership in Nigeria's critical oil economy.