The Department of Petroleum Resources, Nigeria's oil and gas industry regulator, is an opportunity provider and business enabler. Using regulatory instruments such as Licenses, Approvals and Permits, the Department has enabled investors to unlock opportunities in the Upstream, Midstream and Downstream sectors of the industry. The Oil and Gas Industry Service Permit (OGISP) is a mandatory requirement for all service providers rendering or engaged to render technical service to the industry, in accordance with section 60A of the amended Petroleum (Drilling & Production) Regulations, 1988. Since its establishment, the Department has issued over a million permits to service providers in various areas of specialization. This paper examines the OGISP system framework; OGISP application process and requirements for permit issuance; benefits of OGISP to the industry and the Nigerian economy; and recommendations to improve the OGISP system.