At the ongoing NOG Energy Week in Abuja, Dr. Ainojie ‘Alex’ Irune, Managing Director of Oando Energy Resources, made a compelling call for a collective mindset shift, bold investments, and strengthened collaboration to secure Nigeria’s energy future. Representing Oando Plc’s Group Chief Executive, Wale Tinubu, Dr. Irune spoke during a high-level panel on the theme “Prioritising Energy Security.”
He emphasized that recent progress within Nigeria’s oil and gas industry stems from a significant change in how industry leaders and stakeholders approach challenges—choosing action and innovation over traditional formality.
Dr. Irune praised the leadership style of Engr. Bayo Ojulari, the recently appointed Group CEO of NNPC Limited, describing him as an accessible and solutions-oriented leader breaking down bureaucratic barriers and fostering a new era of responsiveness.
Sharing a personal anecdote, he recounted how Ojulari addressed a pressing operational issue without the typical red tape: “There was no formal meeting, no conference room, no PowerPoint presentations—we just solved the problem on the spot.”
He stated that this shift toward pragmatic, action-first thinking is the kind of transformation the energy sector needs.
On Nigeria’s regulatory climate, Dr. Irune stressed the importance of creating a secure and predictable environment to attract the kind of capital needed for long-term energy development. “Investors need certainty,” he said. “They won’t commit to markets where returns are unclear, especially given fluctuating oil prices.”
He also highlighted the necessity of building internal financing mechanisms, urging African stakeholders to stop depending solely on Western financial institutions, which often lack direct incentives to support African energy projects.
“Energy security means ensuring every Nigerian has access to reliable and affordable energy,” Irune said. “We must believe we deserve that future—and invest in it. The West built its infrastructure on that belief. It’s time Africa does the same.”
Drawing inspiration from the development model of countries like the United Arab Emirates, he advocated for deliberate, large-scale investments in infrastructure that empower local economies. He also underscored the pressing need to bridge the energy access divide between African and European children.
Highlighting Oando’s own efforts, Dr. Irune pointed to the company’s agility in managing offshore assets and resolving operational setbacks—such as a recent 3,000-barrel gas production decline—without getting bogged down in bureaucracy. “We’re not just talking energy security; we’re delivering it,” he said.
He reaffirmed Oando’s commitment to natural gas as Nigeria’s transition fuel of choice. “We currently supply gas to power plants serving nearly half of Nigeria’s population,” Irune noted, adding that “power is central to our business model, and we’re investing heavily in gas to drive economic and community development.”
On clean energy, Dr. Irune revealed that Oando is already investing in wind and solar energy, with some projects advancing through legislative approval stages. However, he stressed the need for realism: “Clean energy will only thrive if it’s built on a strong oil and gas backbone. Today’s investments in hydrocarbons will enable tomorrow’s sustainable energy future.”
Concluding his remarks, Dr. Irune acknowledged the challenges facing Nigeria’s oil and gas sector—from regulatory bottlenecks to community-related conflicts—but maintained that the industry must not shy away.
“We’ve challenged norms on security and transparency over the past five years,” he said. “Now, we must deepen community engagement, ensure prompt payments, and commit to solving the hard problems. We can’t afford to look away—we must solve them.”
