Interswitch and Stratus Technologies: Forging New Pathways for Digital Transformation In Nigeria’s Oil and Gas Sector.

Image source: Techcabal In the heart of Africa lies Nigeria, a nation renowned for its vast oil and gas reserves and ranking as the fifteenth largest oil producer worldwide . For decades, the Nigerian oil and gas sector has been the cornerstone of the country’s economy, fueling employment, revenues, growth, and development. Since the discovery of crude oil in the 1950s, the nation’s oil and gas industry has experienced a transformative journey, rapidly emerging as a significant player in the global oil market. In search for cleaner and more sustainable sources of energy, Nigeria’s natural gas reserves have become increasingly vital, leading to significant investments in infrastructure and exploration. This growth has not only fueled the Nigerian economy but has also enhanced the nation’s position as a regional energy powerhouse. However, despite the sector’s achievements, it has faced numerous challenges that hinder the realization of its full potential. Issues such as, data/cybersecurity concerns, unreliable data management systems leading to loss of data for decision making, situational analysis and reporting amidst others, have plagued the industry and hindered growth, therefore, hampering Nigeria’s quest for energy sustainability in line with its Sustainable Development Goals. Against this backdrop, Interswitch Group, Africa’s integrated […]

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