Thursday, September 2nd was a memorable day as the crème de la crème of the energy sector across the value chain, academia and friends converged at the University of Port Harcourt in Rivers State, to celebrate with Professor Omowumi Iledare as he joins the septuagenarian club. The renowned Petroleum Economist and academia clocked 70.
Professor Iledare is diligent, solutions-focused professional with a comprehensive background in strategic energy and petroleum economics and analysis with proven success in clearly explaining highly technical petroleum economic concepts to non-technical professionals.
The Petroleum Economist currently occupies the professorial research chair in Oil and Gas Economics and Management endowed by the Ghana National Petroleum Corporation at the Institute for Oil and Gas Studies, University of Cape Coast. He is Africa Region Director and member of Board of Director of the Society of Petroleum Engineers International. Iledare served previously as Chirota and Emmanuel Egbogah Distinguished Professor of Petroleum Economics and the immediate past Director of Emerald Energy Institute, University of Port Harcourt, Nigeria.
He is the inaugural Executive Director of Emmanuel Egbogah Foundation founded to sustain the legacy of Dr. Emmanuel Egbogah, OON (1942-2018) and anchored on the philosophy of the latter, prosperity without posterity in inconsequential.
Iledare, a recipient of several professional awards, recognitions and honors, is also a Professor Emeritus of Petroleum Economics and Policy research at Center for Energy Studies, Louisiana State University, USA.
He holds a B.Sc degree in petroleum engineering with honors from University of Ibadan, Nigeria; M.Sc in Energy Resources from School of Engineering, University of Pittsburgh, USA; and a PhD from the College of Mineral and Energy Resources, West Virginia University. He is a senior fellow and 2008 president of United States Association for Energy Economics (USAEE) and 2014 International Association for Energy Economics (IAEE), and the immediate past president and fellow of Nigeria Association for Energy Economics (NAEE).
Professor Iledare contributes to the training of undergraduate and graduate students and young professionals in petroleum economics worldwide. He serves as an adjunct or visiting professor of petroleum economics to several Universities in the USA, Asia, and Nigeria. As part of his effort to champion public education and applied research in petroleum economics and policy.
He is the naissance instructor for the continuing education program of SPE Nigeria Council. In addition to teaching for SPE, he also introduced and taught short courses on petroleum economics for professional organizations such as the AAPG affiliated Nigerian Association of Petroleum Explorationists (NAPE), the Nigerian Association for Energy Economics (NAEE), and many international consulting firms in Ghana, Brazil, Singapore, Peru, and Malaysia since 1999. He has also organized several petroleum economics and management workshops on the impact of petroleum and energy policies on the oil and gas industry and national economies for legislators, managers, executive officers in and professional staff of the Federal Government of Nigeria and International Oil and Gas Companies as well as several emerging Indigenous Oil and Gas Operators in Nigeria since 2001.
Iledare, a member of the technical team that advised the Senate and House of Representative Committee on petroleum industry reforms from 2016-2020, has also served as a consultant on international petroleum economics and policy issues to the Nigerian National Petroleum Corporation and other agencies of the Federal Government in Nigeria; served as honorary adviser on oil and gas matters to the Minister of National Planning, Senator Mohammed Daggash, 2007-2008 and honorary consultant to the Special Adviser on petroleum matters, Dr. Emmanuel Egbogah, 2008-2010.
He features regularly on National Television educating the public on contemporary energy and oil policy issues affecting the national economy.
In addition to teaching and conducting public policy research on oil and gas economics and policy worldwide, Professor Iledare participates actively in petroleum and energy professional organizations. He was an Associate Editor of the SPE Economics and Management Journal since 2007 and a former editor of the USAEE Dialogue–a publication of the United States Association for Energy Economics, 2005-2007. He served previously as Director of the U.S. Petroleum Technology Transfer Council (PTTC) for the U.S. Gulf Coast Region, 2010-2014 and as the 2008 President of United States Association for Energy Economics (USAEE). Iledare is a Senior Fellow of USAEE and a past chair of the governing council and the 2014 President of the International Association for Energy Economics (IAEE). He is a founding advisor to and Distinguished Fellow of the Nigerian Association for Energy Economics – an IAEE affiliated organization, and the founding President of the Association of Nigerian Petroleum Professionals Abroad (ANPPA).
Professor Iledare received SPE regional award for distinguished contribution to petroleum engineering in the area of management and information, the SPE Nigeria Council Service and recognition awards for pioneering the SPE NAICE Pre Conference Continuing Education Programme.
The remarkable achievement and struggle to have a policy framework in the Oil and Gas Industry in Nigeria with Dr. Rilwanu Lukman, Emmanuel Egbogah and other industry players remains a memento that will not be forgotten in the energy sector.
Professor Iledare in an interview with a national television recently said the contributions of the “two giants who participated in formulating the policy which was the original bill in 2008. They are both late I believe they are looking from above.”
Indeed, his dream has been accomplished with the passage of the Petroleum Industry Bill (PIB), which was signed into law by President Muhammadu Buhari. Although, it is not a perfect bill but the country has something on ground as it moves forward with the petroleum industry.