The future of Nigeria’s oil and gas industry took center stage at the inaugural Heirs Energies Petroleum Industry Leadership Dialogue, held at the Transcorp Hilton, Abuja.
The landmark forum brought together key players in the public and private sectors to discuss strategies for boosting Nigeria’s crude oil production and shaping the country’s energy landscape.
With Nigeria’s oil production growing by 25% since May 2023, the event provided a crucial platform for dialogue, aligning with the government’s ambitious target to ramp up output to 2.5 million barrels per day (bpd) in 2025.
The engagement between regulatory bodies, oil and gas executives, and indigenous players underscored the importance of collaboration in achieving national economic goals.
Moderated by Osayande Igiehon, CEO of Heirs Energies, the dialogue featured an esteemed panel, including Senator Heineken Lokpobiri, Minister of State for Petroleum Resources (Oil); Engr. Gbenga Komolafe, Chief Commission Executive, NUPRC; Udobong Ntia, Executive Vice-President Upstream, NNPC Limited; Roger Brown, CEO of Seplat Energy Plc; and Adewale Adeyemo-Bero, Chairman, OPEC Board of Governors & CEO of First E&P. The presence of these industry heavyweights emphasised the forum’s significance as a unifying force in Nigeria’s oil sector.
Tony Elumelu, Chairman of Heirs Holdings and Heirs Energies, set the tone in his opening remarks by commending the administration for its pro-business policies, which have encouraged private sector participation. He noted that Heirs Energies has exemplified the success of indigenous companies, tripling production from 21,000 to over 50,000 bpd in just four years.
“The energy sector is crucial to Nigeria’s development, and it is our collective responsibility to ensure that Nigerians benefit directly from our natural resources,” Elumelu emphasised.
A key theme at the dialogue was the continued rise of indigenous oil companies. With 60% of Nigeria’s crude output now coming from local firms, the forum celebrated the effectiveness of the indigenization program.
Industry experts highlighted how private-sector participation has accelerated growth, increasing efficiency, security, and community engagement.
Senator Lokpobiri reiterated the administration’s commitment to fostering local participation.
“The ‘drill or drop’ policy will ensure that oil fields are actively producing or reassigned to those who can maximise their potential,” he stated. His announcement that Nigeria had reached 1.8 million bpd in January 2025 further reinforced the government’s push for sustained production growth.
Moreover, discussions at the forum emphasised how local companies are well-positioned to navigate Nigeria’s unique challenges, including community relations and security.
Indigenous operators have demonstrated their ability to implement cost-effective and sustainable production techniques that align with national economic priorities.
Security and operational efficiency were also high on the agenda.
With vandalism and crude oil theft historically affecting production, Heirs Energies’ Brownfield Excellence Strategy, which includes robust security measures and community partnerships, was spotlighted as a model for sustainable operations.
The company’s expansion to over 100 producing wells has demonstrated how indigenous operators can unlock untapped reserves while ensuring economic benefits for host communities.
Engr. Komolafe of NUPRC praised the initiative, noting that the number of active drilling rigs had surged from 38 to a projected 50 by March 2025, signaling renewed investor confidence in the sector.
Technology and innovation were also key discussion points. Industry leaders stressed the need for continued investment in digital oilfield solutions, real-time monitoring, and artificial intelligence-driven exploration techniques to optimize production and minimise losses.
The application of cutting-edge technologies will be vital in ensuring Nigeria remains competitive in the global energy market.
The dialogue also reinforced Heirs Energies’ commitment to الرأسمالية الأفريقية, a philosophy championed by Tony Elumelu, which emphasizes long-term private-sector investment for economic transformation.
The company’s focus on innovation, sustainability, and community engagement aligns with Nigeria’s broader energy transition goals.
OPEC Board of Governors Chairman Adewale Adeyemo-Bero described the forum as timely, stating, “It’s early in the year, and it’s about how we grow production. That’s why you see all of us participating.”
His acknowledgment of the role of indigenous firms, including his own company’s 57,000 bpd milestone, underscored the importance of local expertise in driving industry growth.
In line with the principles of Africapitalism, Heirs Energies reaffirmed its commitment to youth empowerment, local content development, and capacity building as critical components of its long-term strategy. By fostering a skilled workforce and reinvesting in the local economy, the company is setting a benchmark for sustainable development in Nigeria’s oil sector.
With the success of this inaugural forum, Heirs Energies has solidified its position as a key driver of industry transformation.
The commitment to making this an annual event ensures that critical conversations will continue to shape Nigeria’s oil and gas sector.
As Nigeria navigates the complexities of energy transition, security challenges, and the need for sustainable growth, forums like the Heirs Energies Leadership Dialogue serve as a beacon of collaboration, innovation, and progress. With indigenous leadership and strategic partnerships, the country is poised to harness its vast resources for national prosperity and global competitiveness.
The outcomes of this forum will likely shape policy discussions and investment decisions in the months ahead. As stakeholders continue to push for a more efficient, transparent, and resilient energy sector, Nigeria is well-positioned to reclaim its status as a leading oil producer on the continent.
Moving forward, industry players, policymakers, and investors will look to Heirs Energies and similar initiatives as catalysts for sustained progress.
By fostering an ecosystem that prioritizes collaboration, innovation, and indigenous participation, Nigeria’s oil and gas industry is charting a path toward a more prosperous and self-sufficient future.
Heirs Energies Forum 2025
[Source: https://independent.ng/heirs-energies-forum-2025-a-defining-moment-for-nigerias-oil-sector/ ]