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By Sunday Ani
The Nigerian Association of Petroleum Explorationists (NAPE), alongside its partners, the Energy Institute Nigeria, has disclosed its readiness to promote Nigeria’s energy future, access and financing.
This was made known at its 43rd Annual International Conference and Exhibition, held in Lagos, over the weekend.
Speaking during a panel session at the event, the Group Executive Director of Pan Ocean and the Newcross Companies, one of the sponsors of the event, Dr. Bolaji Ogundare, said the partnership between NAPE and the Energy Institute would strengthen the relevance of the nation’s energy sector and drive its sustainability in a rapidly changing world.
“The theme for this year’s session, ‘Financing the Future of Nigeria’s Energy Sector: Navigating Energy Transition and Driving Sustainable Development’, goes to the heart of our collective challenge, which is how to attract and deploy capital that sustains today’s production, while enabling cleaner and more innovative energy systems of tomorrow.
“With the global energy transition in progress, our nation’s pathway must be pragmatic and future-focused. We must continue to optimise hydrocarbon resources, while investing deliberately in gas infrastructure, renewables and carbon-management technologies, and positioning Nigeria for competitiveness and resilience over the next decade.
“Financing this balance requires more than capital. It demands credibility, competence, collaboration and commitment. Investors must see an industry that is well-governed, transparent and united around a clear national direction. At Pan Ocean and the Newcross Companies, we embody this collaborative approach.
“Our group operates as one ecosystem: Pan Ocean Oil Corporation (Nigeria) Limited (Pan Ocean), the pioneer; Newcross Petroleum Limited (Newcross), the partner and collaborator; Newcross Exploration and Production Limited (NewcrossEP), the operator building capability and technical excellence; and Newcross Energy Limited and NewX, which are the integrators and innovators leading our shift toward cleaner fuels,” he stated.
Ogundare noted that in 2025, their strategy had yielded tangible results, adding that through strong technical collaboration and alignment with the Nigeria National Petroleum Company Limited (NNPCL) on PMLs 55, 56 and 57, NewcrossEP achieved a 33 percent increase in production from the Ekulama-12 and Awoba NW-3 wells.
“At the Ovade-Ogharefe Gas Plant and OML 147, we are committed to reducing emissions and optimising gas monetisation, exemplifying how sustainability and operational excellence can go hand in hand. The Ovade Gas Processing Facility has achieved a production capacity of 170MMSCF/D, while OML 147 has successfully run more sustainable operations with the installation of a vapour Recovery Unit compressors; all these are geared towards monetising flared gas.
“These milestones underscore our dedication to operational efficiency and highlight our growing contribution to the advancement of Nigeria’s gas value chain.
“Through NewX, in partnership with others, we are investing in solar mini-grids and energy-efficiency projects that advance Nigeria’s just and inclusive transition. These efforts reflect our belief that indigenous operators must not only participate in the transition but, also, lead it responsibly, transparently and with long-term commitment to national goals,” he said.
He stressed that the industry has the opportunity to redefine how energy is financed in Africa by linking innovation with integrity and investment with impact.
“That is how we build confidence among financiers, regulators, and host communities alike. NAPE provides the space for this conversation, to share lessons, align policies, and shape a more sustainable and competitive energy value chain,” he stated.
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In his keynote address, the Secretary to the Government of the Federation (SGF), George Akume, represented by his Technical Assistant, Prof. Bolaji Babatunde, described the conference as a veritable platform to fast-track the nation’s energy transition.
He said the conference theme was not only apt, but also makes NAPE a reliable partner in the nation’s energy transition and sustainability drive.
He stressed that mobilising finance smartly was the way to go, even as he revealed that the Federal Government was collaborating with several organisations for accessible funding.
The SGF decried the inadequate refining capacity which continues to ail the country amid abundant resources, stressing that the country needs more investment in the oil and gas sector.
He noted that President Bola Tinubu’s administration had prioritised increased energy production in line with his Renewed Hope Agenda, emphasising that the Federal Government had also taken decisive steps to sustainably position the sector.
Speaking to journalists on the sideline of the event, the Group Financial Controller of Pan Ocean and the Newcross Companies, Oluwafemi Akinyemi, stated that the programme was a credible platform that allows for collaboration and exchange of ideas among companies investing in Nigeria’s energy future and driving the transition agenda towards affordability and access. “We are deliberately contributing to energy security in Nigeria. We are also creating opportunities that allow us to further invest in the energy sector, so as to meet national aspiration in line with global expectation on decarbonisation drive. “We are equally trying to look at how to contribute to the renewable energy space through research, partnership, and manpower capacity development.
“We will continue to align with other industry players to help bridge Nigeria’s energy deficit. As indigenous companies, we need to be at the forefront and not rely solely on the expertise of international companies,” he stated.
He noted that renewable energy is gaining global attention, insisting that Nigeria needs to define its own path as a growing economy.
“We cannot use the same template as Western countries that have already passed through this phase. Development happens in stages. Countries like China, the United States, Japan and India are still the highest polluters and they are not stopping. Coal still contributes significantly to their energy mix.
“We need to be realistic while aligning globally. Gas is the transition fuel. We must invest in infrastructure and supply gas for domestic use and for power generation. Electricity is critical for industrialisation, and even with current production, there is still a gap, but renewables will gradually fill that gap,” he submitted.
Chairman of the Energy Institute Nigeria, Osten Olorunsola, represented by the Head of Strategic Partnerships at the Energy Institute UK, Yewande Abiose, said the conference was aimed at promoting clean energy through a just transition. “We promote energy efficiency and best practices,” she said.
She also revealed that a flagship event would be held in London, in February 2026.
Also, Secretary-General of APPO, Dr. Omar Farouk Ibrahim, revealed how his organisation, in collaboration with Afreximbank, conceived the idea of establishing the Africa Energy Bank with a proposed $100 million seed fund to tackle the financing challenge in the sector.
He stressed that Africa must not rely solely on climate funds to drive its energy future. He called for a paradigm shift, saying it was time for Africans to think outside the box.
