The Group Chief Executive Officer of Oando PLC, Wale Tinubu, has reaffirmed the company’s unwavering commitment to advancing Nigeria’s energy security and accelerating its transition to cleaner energy solutions. Tinubu, who was represented by Dr. Alex Irune, Managing Director of Oando Energy Resources Nigeria Limited, spoke during a strategic session themed “Prioritising Energy Security” at the ongoing Nigeria Oil and Gas (NOG) Conference in Abuja.
Addressing participants at the high-level session, Dr. Irune emphasized that energy security is fundamentally about ensuring access to reliable and affordable energy for all Nigerians. He noted that Africa, and Nigeria in particular, must believe in its right to energy development and invest boldly to secure its energy future.
“There’s a lot to be said for the micro perspective — we have to feel deserving of security to truly invest in it. The West understood this when they built energy infrastructures to fuel their own growth. Today, we must adopt the same mindset to prioritize and secure our energy resources for national development,” Irune stated.
Drawing comparisons with countries like the United Arab Emirates, he stressed that deliberate investment and valuing local economies have been critical to their success stories. He highlighted that in many parts of Africa, children do not have equal access to energy compared to their counterparts in Europe, underscoring the urgent need to close this gap.
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On the operational front, Dr. Irune shared Oando’s experience in integrating and managing its acquired assets despite numerous challenges. He cited examples of the company’s agility in resolving operational bottlenecks, such as responding to sudden gas production declines without bureaucratic delays.
“We are the only indigenous digital company that has acquired offshore assets at scale. This has not been easy — it required restructuring and constantly reshaping our organization to ensure we deliver value. Last week, we resolved a gas production drop of 3,000 barrels without the need for endless meetings or PowerPoint presentations. It was a practical demonstration of our commitment to energy security,” he recounted.
Highlighting Oando’s focus on gas as a transition fuel, Dr. Irune pointed out that the company currently supplies gas to power plants servicing around 50% of Nigeria’s population. “Power is at the core of our existence as a company. We are committed to expanding this capacity and investing in gas as a critical enabler for economic and community development,” he said.
Beyond oil and gas, Irune underscored Oando’s growing focus on clean energy. He noted that while the transition to renewable energy sources such as solar and wind is crucial, it must be anchored on the backbone of strong oil and gas infrastructure to ensure reliability.
“The clean energy ambition excites us. But it’s not enough to simply talk about it. We must invest in oil and gas today to build the capacity and expertise needed to deliver sustainable clean energy projects in the future,” he explained.
He further disclosed that some of Oando’s clean energy initiatives are already in the legislative pipeline, including projects integrating wind and solar power solutions.
Addressing regulatory and security challenges in Nigeria’s oil and gas sector, Irune acknowledged that the operating environment remains complex. He stressed the importance of policy consistency and security in attracting and retaining investment, while calling for continuous reforms to build investor confidence.
“For us, the past five years have been about challenging the rules around security and stability in the sector. We must demonstrate transparency, ensure payments, and actively engage with communities. Above all, we can never say no to the challenges before us — we must find solutions,” he concluded.
