Nigeria’s Indigenous Energy Operators Sustains Growth Through Restructuring

Nigeria’s indigenous energy companies are initiating new pathways to improve productivity and enhance their visibility in the region.

A series of restructuring plans have emerged across operating systems as Sahara’s new managing director Chidilim Menakaya, moves to improve on the company’s existing business models marking an important milestone in the company’s journey to accelerate its Beyond XXX vision and drive the next phase of growth, innovation, and impact.

Similarly, Ingentia Energies increased production by an impressive 150 percent, reflecting the success of the Company’s operational and growth strategies, after a major restructuring exercise

The Board of Directors of the firm lauded the outgoing Interim Managing Director and Chief Executive Officer, Engr. Charles Odita, for his transformational leadership, which has driven significant growth across the Company’s operations and positioned it for sustained long-term success.

The commendation came as Engr. Victor Agbaroji formally assumed office as Managing Director and Chief Executive Officer, succeeding Odita and outlining a strategic agenda focused on strengthening and moving Ingentia Energies further into the top percentile of key players in the oil and gas sector.

The chairman extended heartfelt congratulations and profound appreciation to Engr. Charles Odita noting his tenure as transformational, characterised by strategic clarity, decisive execution and exceptional leadership.

As he takes over the reins of leadership, Engr. Agbaroji expressed appreciation for the achievements recorded under Engr. Odita and pledged to build upon the solid foundation already established. He identified key priorities for the next phase of the Company’s growth, including enhancing drilling operations, maximizing the value of existing assets, improving cost competitiveness, expanding the Company’s portfolio, and unlocking greater value from the asset’s gas resources.

“Our immediate focus is to strengthen the next phase of our drilling campaign by leveraging the seismic acquisition programme currently underway. This will enable us to execute a more robust and efficient drilling programme while improving exploration outcomes and operational performance,” Engr. Agbaroji said.

He also highlighted the importance of crude oil evacuation infrastructure in supporting future production growth, noting that the Company would further intensify efforts to advance its pipeline evacuation project.

Engr. Agbaroji reaffirmed management’s commitment to sustaining the momentum achieved under Engr. Odita , emphasizing that the company would continue to benefit from the experience and institutional knowledge developed during his tenure.

The leadership transition marks a significant chapter in the company’s growth journey as it seeks to consolidate recent gains, expand production capacity, deepen operational efficiency, and strengthen its position as a leading indigenous energy company focused on delivering sustainable value to stakeholders.

For Sahara, Menakaya, a seasoned transformation and strategy executive, brings more than two decades of leadership experience spanning Africa, Asia, Europe, and the Middle East.

Prior to her appointment, Menakaya served as Director of the Sahara Foundation, where she led the company’s sustainability and social impact agenda.

Under her leadership, the Foundation expanded the reach of Sahara’s EXTRApreneurship model, strengthened strategic partnerships, and deepened socio-economic impact across communities in the company’s locations.

Widely respected for her collaborative leadership style, strategic insight, and ability to build high-performing teams, Menakaya has consistently demonstrated a commitment to developing people, driving innovation, and delivering measurable outcomes.

Commenting on the appointment, Ade Odunsi, Executive Director, Sahara, said the decision reflects Sahara’s confidence in purposeful leadership and its commitment to building the future from within.

“For over three decades now we have remained committed to our vision of bringing energy to life responsibly. Beyond XXX represents our commitment to shaping the future through bold thinking, innovation, sustainability, and shared value creation. Chidilim’s appointment reflects these aspirations. We are confident that under her leadership, Sahara will continue to expand the frontiers of impact and create sustainable value for stakeholders across our markets.”

Odunsi noted that the appointment signals Sahara’s determination to build a resilient, future-focused enterprise capable of thriving in an increasingly dynamic global environment.

As managing director, Menakaya will provide strategic leadership for steering Sahara’s Beyond XXX agenda, enhancing stakeholder value, and positioning Sahara for continued growth and global relevance.

Menakaya holds executive and professional qualifications from leading global institutions, including London Business School, INSEAD, and Manchester Business School. She is also a certified Human Resources Business Partner, Transformation and Reputation Manager, and Prosci-certified Change Management Practitioner.

Affirming local energy firms determination to improve their business environment, the Chief Executive Officer of Heirs Energies, Osayande Igiehon, said that indigenous operators had become the driving force behind the country’s ambition to raise crude production to three million bpd by the end of the decade.

He stated this at the 49th Nigeria Annual International Conference and Exhibition (NAICE) organised by the Society of Petroleum Engineers, Nigeria Council in Lagos.

According to him, local companies accounted for only about 20 to 30 per cent of production before the COVID-19 pandemic but have since emerged as the dominant players in the sector.

He cited the performance of Heirs Energies, which assumed operational control of its assets in 2021 with production of 25,000 bpd but has since more than doubled output.