CEO of Pana Holdings, whose company participated in the bid round, opened up during the 2025 NOG Energy Week panel session on the role data thieves played in the oil block allocation exercise.
The 2024 oil bid round witnessed a prevalence of activities by data thieves who ripped off the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and bidders in millions of dollars.
Platforms Africa reports that the Chief Executive Officer of Pana Holdings, Dr. Daere Akobo, whose company participated in the bid round, insisted during the 2025 NOG Energy Week panel session that only the NUPRC is empowered under the law to collate and be in possession of oil data in Nigeria.
NUPRC has earlier told this reputable online newspaper that the bid round was the “first in nearly 70 years of Nigeria’s upstream petroleum industry history to leverage digital technology, devoid of any human interference.”
Akobo who spoke on the same panel with George Onafowokan, MD Colesman Wires and Cables; Engineer Betty Ugona, CEO ScaleVation Services Limited; and Ayodele ‘Ayo’ Ofi, Strategic Development Director – Mature Assets Solutions, Africa, Baker Hughes, declared that some individuals sold data in flash drives to bidders in violation of the NUPRC legal power during the round.
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He declared; “I want to correct the impression that there is no data in the oil and gas industry. We have data. It is, however, unfortunate that the data is not where it is supposed to be.
“Another impression that I need to correct is that NCDMB is supposed to be in charge of data. I have a law here, which states that the NUPRC has the power to gather data in the industry, but what do we have today?
“I participated in the last bid round, and I can tell you that data stored in flash drives existed in some people’s hands.”
Data that are, according to Akobo, supposed “to be accessed and bought from the government, are in people’s hands.
“That is data stealing! Data exist, but they exist in silos,” he declared.
The panel on Technology As a business strategy was moderated by Oluwasayo Oshadami, Director, Solutions Architects (West Africa).
Platforms Africa reports the NUPRC, which conducted the bid round, finalised the process in record time.
Giving a clean bill to the exercise, it said; “The selection process for the 2024 oil bid round was a comprehensive and inclusive event, involving a diverse array of stakeholders such as the International Oil Companies (IOCs), various local and international firms, the Nigeria Extractive Industries Transparency Initiative (NEITI), relevant government agencies, civil society organisations, and both national and international media representatives.
“This process was conducted in a manner that upheld the principles of competitiveness, openness, and transparency, as mandated by section 73 of the Petroleum Industry Act (PIA).
“The licensing round conducted by NUPRC under Engr Komolafe was the first in nearly 70 years of Nigeria’s upstream petroleum industry history to leverage digital technology, devoid of any human interference, in a manner adjudged to be in line with global best practices. The outcome was televised live and attended by all the aforementioned stakeholders. There was no room for any manipulation to warrant any underhand dealings whatsoever, as insinuated mischievously in the publication.”
Platforms Africa
