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By Oluseye Ojo
The Federal Government must relinquish its dominant role in Nigeria’s energy sector and create an enabling environment for the private sector to lead investment, innovation and operations if the country is to overcome its chronic power crisis.
A renowned energy law expert and senior advocate of Nigeria, Prof. Yinka Omorogbe, made the disclosure yesterday, at the fourth Dr. Diran Fawibe annual lecture series at the International Conference Centre, University of Ibadan (UI). It was organised by International Energy Services Limited (IESL) in collaboration with Centre for Petroleum, Energy Economics and Law (CPEEL) and University of Ibadan.
The former secretary and legal adviser, Nigerian National Petroleum Corporation (NNPC) said the nation’s persistent energy poverty was not caused by a lack of oil, gas, hydro or renewable resources but by weak governance and the country’s inability to convert its vast energy resources into reliable electricity, industrial growth, jobs and improved living standards.
Omorogbe, who delivered the keynote lecture titled, ‘The Public-Private Energy Shift: Innovation, Investment, Implementation,’ urged the government to move away from being the dominant operator in the energy sector and instead concentrate on policy formulation, regulation, licensing and resource ownership.
She said the private sector should drive investment, technology, operational expertise and commercial discipline, stressing that the debate should no longer be about public versus private ownership but about assigning responsibilities to institutions best equipped to deliver results.
“The real meaning of the shift is moving from resources to products, products to industries, industries to jobs and ultimately to human dignity,” she said. The Nabo Graham Douglas Professor of Law described the proposed reform as a transition from public monopoly to regulated pluralism, with mixed ownership structures, blended financing models and multiple energy delivery systems focused on measurable outcomes rather than policy rhetoric.
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Drawing lessons from the United States, the United Kingdom, Norway and Canada, she said thriving energy industries were built on transparent regulation, sound legal frameworks, scientific research and strategic collaboration between governments and private investors.
She warned that investors would only commit long-term capital where there are transparent licensing systems, enforceable contracts, stable fiscal policies, credible institutions and adequate infrastructure.
She also urged Nigeria to maximise its natural gas resources while accelerating investment in solar power, mini-grids and other renewable energy solutions. She called for platforms linking innovators with finance, technical support, markets and regulatory guidance to transform promising ideas into bankable energy projects.
Earlier, Vice Chancellor of the University of Ibadan, Prof. Kayode Adebowale, described the lecture theme as timely, saying the country’s energy future depends on stronger collaboration between government, private investors and universities.
Managing Director and Chief Executive Officer of International Energy Services Limited (IESL), Mr. Bayo Ige, said the event was designed as a platform for practical solutions rather than another policy conversation.
The chairman of the occasion, Dr. Layi Fatona, Chairman, Board of Directors, Renaissance Africa Energy Company Limited, stressed that Nigeria’s abundant energy resources could only translate into prosperity through sound policies, strong institutions and consistent implementation.
The honouree, Dr. Diran Fawibe, Group Chairman, IESL, in his closing remarks, urged stakeholders to focus on projects that would create jobs and improve lives, saying history would remember practical achievements rather than the number of conferences held.
