Mr. Ado Oseragbaje, Chief Executive Officer, of Heritage Oil Ltd., says African countries must focus on their strategic national interests to sustain development and regional survival.
Oseragbaje said this became important as the global energy industry raced toward an energy transition.
Mr. Sola Adebawo, General Manager, Government, Joint Venture and External Relations, Heritage Energy Operational Services Ltd., quoted Oseragbaje in a statement on Tuesday in Lagos.
Oseragbaje gave the advice while speaking during a panel discussion with other Nigerian energy industry leaders at the International Energy Summit (NIES) in Abuja.
They spoke on the role of National Oil Corporations (NOCs) in stimulating accelerated sustained development of hydrocarbon in Africa.
Oseragbaje, who is also the CEO of the Nigeria subsidiary of Heritage Energy Operational Services Ltd. (HEOSL), noted that the key role of NOCs was to help drive national development in their various countries.
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He said that every African nation must prioritize energy security above other factors in the energy transition process.
Oseragbaje affirmed that energy transition should be consistent with the strategic interest of each country and region.
This, he said was accentuated by how quickly key European countries opened the coal mines in the wake of the threats to energy supplies following the Russian-Ukraine war.
“Each country is in a different phase of the energy transition, and each country must therefore prioritize to reflect strategic national and regional interests, he said.
The Nigeria International Energy Summit is the largest gathering of oil and gas industry players as well as policymakers in the West African Region.
This year’s event featured high-level participation from various African countries, including Algeria, Benin Republic, Libya, Egypt, Ghana, Equatorial Guinea, Republic of the Congo as well as other key global industry organization such as OPEC, among others.
