Technology

April 17, 2024

Interswitch energy summit: Nigeria’s Oil & Gas sector need digitalisation

Interswitch supports digital financial service innovation, sponsors CeBIH 2021 Retreat

By Dickson Omobola

Experts in the technology sector have called for digitalisation of the country’s oil and gas sector, stressing that it presents a significant opportunity for growth and efficiency.

The experts explained that by harnessing technologies like data analytics and digital twins, Nigerian oil companies can optimize production, improve decision-making and ensure long-term sustainability.

Speaking in Lagos at the first edition of Interswitch Energy Summit themed: Harnessing Digital Transformation in the Energy Sector, they further urged the Nigerian government and energy companies to allocate resources for digitalisation initiatives.

According to them, this could involve funding research and development of domestic digital solutions alongside partnerships with established technology firms.

At the summit, representatives of oil and gas companies and other stakeholders were also introduced to innovative solutions designed by Interswitch Energy.

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While unveiling two new products designed to address prevailing issues within the energy sector, enhance business development and drive growth, Interswitch said Forecourt Operations and Wet Stock Management Solutions focus on automating and optimising Wet Stock operations, empowering oil and gas companies with enhanced capabilities for inventory management, sales tracking and payment processing.

According to Interswitch, the products will allow fuel station management to expand its network of retail stations and establish strategic partnerships with oil majors, thereby driving operational efficiency and profitability.

Managing Director, Industry Ecosystems (Interswitch Indeco), Chinyere Don-Okhuofu, said at the event: “For decades, the Interswitch Group has been a beacon of innovation, spearheading digital transformation initiatives across Africa. Interswitch Energy stands as a testament to our unwavering commitment to driving positive change and fostering prosperity on a nationwide scale.