Collaboration, technology adoption, and supportive policies are essential for Africa’s strategic energy path.”- Victor Okoronkwo, GMD, Nembe E&P
The Group Managing Director of Nembe Exploration and Production Company Limited (Nembe E&P), Mr. Victor Okoronkwo has called for a balanced, strategic approach to Africa’s energy transition, emphasizing that hydrocarbon development remains essential for the continent’s economic survival and energy security.
Okoronkwo made the call while speaking at a panel session at the 9th Nigeria International Energy Summit in Abuja, on Strategic Upstream Executive Debate with the Theme꞉ Hydrocarbon Development and Energy Transformation꞉ Africa’s Strategic Path Forward
Addressing the summit theme, “Hydrocarbon Development and Energy Transformation: Africa’s Strategic Path Forward,” Okoronkwo highlighted that while the global shift toward cleaner energy is necessary, Africa must not sacrifice its immediate industrialization goals or economic stability by abandoning its vast fossil fuel resources prematurely.
According to him “The dilemma for Africa is clear,” Okoronkwo noted. “We are caught between the urgent need for affordable, reliable energy to drive growth and the global pressure to achieve net-zero targets. For Africa, the transition cannot be a leap into the dark. It must be a managed evolution where hydrocarbons fuel our developmental needs, providing the revenue required to fund future renewable energy infrastructure.”
Underlining Nembe E&P’s commitment to this dual approach, Okoronkwo pointed to the company’s recent operational successes following its rebranding from Aiteo Eastern E&P.
He emphasized that the optimization of assets, such as the Nembe Creek Trunk Line (NCTL) and the newly developed Nembe Crude Export Terminal, are critical in increasing production and strengthening Nigeria’s energy security.
“We are proving that local operators can deliver high-performance results while integrating responsible practices,” he added. “At Nembe E&P, we are embracing low-carbon technologies, such as associated gas gathering and reducing methane emissions, proving that it is possible to maximize hydrocarbon value while aligning with environmental standards.”
Okoronkwo, a prominent voice on indigenous participation in the Nigerian oil and gas sector, urged policymakers to leverage the Petroleum Industry Act (PIA) to foster a more attractive investment climate, calling for enhanced security to tackle theft and vandalism that hinder optimal production.
“Africa’s strategic path forward is through the collaborative development of our natural resources, ensuring that local content is not just a policy, but a driver of prosperity,” he concluded.
Nembe E&P is a leading indigenous oil-producing company in Nigeria, operating OML 29 and the Nembe Crude Export Terminal in the Niger Delta. Nembe Exploration is committed to contributing to Nigeria’s energy mix through responsible hydrocarbon development, alongside investments in sustainable energy solutions.
Nembe Exploration and Production Company Limited (formerly Aiteo Eastern Exploration and Production Company Limited) is a premier indigenous energy firm dedicated to unlocking the potential of Nigeria’s hydrocarbon assets. With a focus on sustainable production, community development, and innovative energy solutions, Nembe E&P is at the forefront of driving energy security in Africa.
The session frames energy transformation as Africa’s pragmatic pathway, showing how hydrocarbons can support regional power integration, energy security, and sustainable economic growth, while positioning the continent as a strategic, reliable
supplier in the global energy landscape.
Other Speakers and Panelists include , Dr. Bolaji Ogundare, Group Executive Director, Pan Ocean Oil Corporation and Newcross Group of Companies
Dr. Ugo Okafor, Chief Executive Officer, Suntrust Atlantic Energies, Mr. Godwin Kudzo Tameklo, Esq., Chief Executive Officer, National Petroleum Authority, Ghana
Mr. Oladapo Filani, Managing Director / CEO, Waltersmith Petroman Oil Ltd, Mrs. Oritsemeyiwa Eyesan, Commission Chief Executive, NUPRC, Mrs. Gloria Iroegbunam, General Manager, Legal, Lekoil Limited, Mr. Baboucarr Njie, Managing Director, Gambian National Petroleum Corporation and Mr. Mansur Mohammed, Country Manager, Woodmac who moderated the session
