Oando PLC Group Chief Executive Promotes Role of Indigenous Energy Companies at African Energy Week

African Energy Week (AEW) 2021 in Cape Town will emphasize the role that Africa’s indigenous companies will play in driving the continent’s energy sector transformation. Dedicated forums and panel discussions in Cape Town aim to highlight the notable achievements, significant contributions, and outstanding potential of Africa’s domestic companies. Leading the discussion on indigenous independents, confirmed speaker Wale Tinubu, Group Chief Executive of Nigerian-based Oando PLC, will come to Cape Town to enhance upstream dialogue, engage with stakeholders and promote Nigerian independents as the frontrunners of Africa’s energy growth.

As Group Chief Executive, Tinubu has been a major facilitator of Oando’s ongoing success in the Nigerian market. As one of Africa’s leading indigenous energy solutions providers, and one of the continent’s first companies to have a cross-border inward listing on the Johannesburg Stock Exchange, Oando has emerged as a leading exploration and production company in Nigeria and a major African competitor.

Oando is one of Nigeria’s top indigenous companies, particularly in the country’s upstream sector. With a robust portfolio of oil and gas fields – comprising both onshore and offshore producing assets – the company has focused its strategy on increasing reserves, acquiring new assets, and enhancing production. With a vision to be the leading indigenous exploration and production player on the African continent, Oando is making steady progress to position itself as a major player in both Nigeria, and the continent as a whole. In Cape Town, Tinubu will emphasize how indigenous independents must seize the opportunities created by international oil company divestment from the upstream sector, taking on a more proactive role in the industry’s growth.

Tinubu has been an instrumental figure in Nigeria’s energy sector, having set a high standard for other indigenous executives and energy companies. With a proven track record of building successful businesses across the entire energy, Tinubu has demonstrated how Nigeria’s domestic market can and should be enhanced for wider industry growth. Tinubu’s notable achievements include leading the largest acquisition of a quoted Nigerian company; being named ‘Entrepreneur of the Year’ West Africa by Ernst & Young; awarded ‘African Business Leader of the Year’ by Africa Investor and ‘Global Young Leader’ by the World Economic Forum; and being responsible for the “successful transformation of Oanda from a petroleum marketing company to an integrated energy group.” (https://bit.ly/3prg8xQ)

By transforming Oando into group with subsidiaries focusing on the downstream, midstream, and upstream, Tinubu has not only enhanced the capacity of the company, but ensured the indigenous firm plays an active role across the entire energy value chain. In 2016, the company’s downstream and midstream businesses, led by Tinubu, brought in approximately $300 million worth of investment into the country. Therefore, the role of indigenous independents cannot be understated, and this will be emphasised at AEW 2021 in Cape Town.

“Tinubu represents a true pioneer of African energy. As one of Africa’s top entrepreneurs and leading industry executives, Tinubu has not only made a name for himself in the Nigerian energy space, but across the African continent. Under his leadership, Oanda has emerged as a major player in the downstream, midstream, and upstream sectors of Africa’s energy industry, demonstrating the role that indigenous companies have and continue to play in driving the continent’s energy and economic growth. Yes, international companies are critical for the continent’s energy progress, but it is the indigenous independents that will see Africa into a new era of development. At AEW 2021 in Cape Town, Tinubu will not only share insights and solutions to navigating Africa’s energy sector, but will make a strong case for indigenous independents,” stated NJ Ayuk, Executive Chairman of the African Energy Chamber (AEC).

At AEW 2021 in Cape Town, Tinubu will be both a valuable and critical participant in the discussion on African independents. Taking part in the event’s upstream forum, Tinubu will help drive the discussion on how indigenous companies will be key drivers of Africa’s energy growth.  

AEW 2021, in partnership with South Africa’s Department of Mineral Resources and Energy DMRE, is the AEC’s annual conference, exhibition and networking event. AEW 2021 unites African energy stakeholders with investors and international partners to drive industry growth and development and promote Africa as the destination for energy investments.

Source: APO and  African Energy Chamber