Heirs Energies, Africa’s fastest growing indigenous integrated energy company, hosted its inaugural
Petroleum Industry Leadership Dialogue at the Transcorp Hilton Abuja,
bringing together public and private sector leaders to accelerate
Nigeria's production growth.
Heirs Holdings’ subsidiary, Heirs Energies, convened the forum,
moderated by CEO of Heirs Energies, Osayande Igiehon, and which
featured distinguished speakers including the Minister of State for
Petroleum Resources (Oil), Senator Heineken Lokpobiri; Chief
Commission Executive, NUPRC, Engr. Gbenga Komolafe; Chairman,
OPEC Board of Governors and CEO, First E&P, Adewale Adeyemo-Bero;
Executive Vice-President Upstream, NNPC Limited, Udobong Ntia and
CEO of Seplat Energy Plc, Roger Brown.
With a new administration and ambitious targets for production critical
for Nigeria’s economic growth, the Dialogue provided a timely venue
for private and public sectors to continue the successful interaction,
that has already seen Nigeria crude production grow by 25%, since May
2023. Speakers highlighted how a series of Presidential Executive Orders
had radically reshaped the operating environment and catalysed
industry growth. Indigenous oil and gas companies were now
responsible for more than 60% of Nigeria’s crude output and the
successful indigenisation programme was delivering a bold new
chapter in Nigeria’s natural resources history.
Tony Elumelu, Founder and Chairman of Heirs Holdings and Chairman
of Heirs Energies, in his opening remarks, paid tribute to the catalytic role
that current government had played in reinvigorating the sector. Mr
Elumelu also set out Heirs Holdings’ vision of transforming Africa's energy
landscape, through indigenous leadership and sustainable
development. Heirs Energies, in just four years, had rapidly grown its
production from 21,000 to over 50,000 barrels per day of hydrocarbon
Mr Elumelu also welcomed both public and private sector guests,
emphasising the strong spirit of collaboration that underscored the
successful indigenisation:
“Production growth, ambitious and sustained, is our shared national
mission. I am honoured that Heirs Energies is bringing together
distinguished peers from the industry and our partners in government.
As an investor not just in resources, but in Nigeria’s power production
and distribution sectors, all of us, need to come together to ensure
Nigerians get the benefits of our resources. As we build Africa’s largest
integrated energy business, innovation and collaboration are central to
our execution”.
The dialogue affirmed Nigeria's commitment to increasing production,
while maintaining environmental responsibility and leveraging gas as a
transition fuel.
Speaking at the forum, Minister of State for Petroleum Resources (Oil),
Sen. Heineken Lokpobiri, applauded Heirs Energies for hosting this
inaugural event, "Let me express our gratitude to Heirs Energies for
providing this platform for meaningful industry engagement." The
Minister announced Nigeria's oil production had reached 1.8 million
barrels per day in January 2025 and set an ambitious target of 2.5 million
barrels per day for 2025. He also reaffirmed the administration's "drill or
drop" policy to accelerate production growth.
The Petroleum Industry Leadership Dialogue, which will become an
annual event, brought together key stakeholders in the oil and gas
industry, including MD of The Shell Petroleum Development Company
of Nigeria Limited, Osagie Okunbor; Managing Director of Aradel
Holdings, Adegbite Falade and industry veteran and founder of
Platform Petroleum & Managing Director A.A Holdings, Austin Avuru,
among others.
NUPRC Chief Executive, Engr. Gbenga Komolafe, empahsised the
dialogues significance in advancing the sectors objectives, "I thank Heirs
Energies for this beautiful initiative of putting together the Petroleum
Industry Leadership Dialogue as a commitment to achieving our
national objective in the upstream sector." He highlighted the surge in
active drilling rigs to 38, with projections to reach 50 by March 2025.
OPEC Board of Governors Chairman for Nigeria and CEO, First E&P,
Ademola Adeyemi-Bero, commended the forum's timing, noting "It's
apt. It's early in the year and it's about how we grow production. That's
why you see all of us participating." He shared how indigenous operators
have successfully increased production, citing his company's
achievement of 57,000 barrels per day from previously untapped fields.
Heirs Energies CEO, Osa Igiehon, reinforced this perspective,
showcasing Heirs Energies’ impact in Nigeria’s onshore sector. "Our
success at Heirs Energies demonstrates what's possible in Nigeria's
onshore sector, through our Brownfield Excellence Strategy, robust
security measures, and genuine community partnership," he said. "By
tripling our producing wells to over 100, we've shown how indigenous
operators can efficiently unlock value while ensuring sustainable
development of host communities."
The Petroleum Industry Leadership Dialogue also exemplified Heirs
Energies’ commitment to Mr Elumelu’s Africapitalism, the private sector's
transformative role in driving Africa's economic and social development
through strategic, long-term investments hinged on partnership and
collaboration.
Heirs Energies Limited is Africa's leading indigenous-owned integrated
energy company, committed to meeting Africa's unique energy needs
while aligning with global sustainability goals. With a strong focus on
innovation, environmental responsibility, and community development,
Heirs Energies leads in the evolving energy landscape and contributes
to a more prosperous Africa. Heirs Energies is a key implementor of Heirs
Holdings integrated energy strategy, Africa’s largest integrated energy
business, whose objective is to ensure Africans benefit directly from their contents resource