Nigeria is one of the largest producers of oil and gas globally; however, inefficiencies, losses, and underutilization of assets had remained persistent challenges in the sector. This project focused on providing technical support for policy formation and analyzing necessary reforms to optimize the performance of Nigeria's oil and gas assets, reduce financial and operational losses, and maximize economic value. The primary goals of the project included developing robust policies that mitigated losses in Nigeria's oil and gas sector, proposing and implementing actionable reforms to enhance asset value creation, strengthening governance and operational efficiency across the value chain, and fostering sustainability aligned with global best practices. Additionally, the project aimed to enhance transparency in asset management, attract investments through improved regulatory frameworks, and support the transition to cleaner energy sources while optimizing traditional resources. The project followed a structured process, beginning with an assessment and baseline analysis to review existing policies and regulatory frameworks, analyze inefficiencies, benchmark against global standards, and gather stakeholder insights. Following this, a policy development and reform design phase addressed gaps and proposed solutions targeting loss reduction, governance improvements, and public-private partnerships. Next, an implementation roadmap detailed resource allocation, timelines, and monitoring frameworks, accompanied by capacity-building workshops for stakeholders. Finally, a pilot testing phase evaluated reforms in targeted assets, gathered feedback, and refined strategies. The project unfolded over 12 months. The assessment and baseline analysis took three months, followed by policy development over the next three months. The implementation roadmap was created during months seven to nine, and pilot testing took place in the final three months. Deliverables included a baseline report, draft policies, a detailed roadmap, and a pilot evaluation report. The impact of the project spanned short-term, medium-term, and long-term benefits. In the short term, it reduced losses and increased stakeholder trust through enhanced transparency. Medium-term benefits included optimized asset utilization and increased investment due to better regulatory frameworks. Long-term outcomes focused on significant contributions to Nigeria's GDP, sustainable resource management, and a transition towards a diversified energy sector. The returns on this project were multifaceted. Economically, the project increased revenue by optimizing production and reducing losses while enhancing investor confidence. Socially, it created jobs and strengthened institutional capacity in the oil and gas sector. Environmentally, the reforms supported sustainable practices, reduced wastage, and mitigated environmental degradation. In conclusion, this project transformed Nigeria’s oil and gas sector by addressing systemic inefficiencies and enhancing asset value creation. It significantly contributed to Nigeria’s economic growth and energy sustainability, with success achieved through effective collaboration, diligent implementation, and adherence to global best practices.