Technical Expertise, Access To Finance Key To Nigeria’s Energy Growth — Sahara

Chairman of Sahara Group, Kola Adeshina, has advised Nigerian firms to develop the necessary technical capacity backed by access to finance as well as become consistently innovative to translate assets into economic value.

He said ownership of oil and gas assets alone will not drive growth in Nigeria’s energy sector. Adeshina, represented by head of Corporate Communications, Sahara Group, Bethel Obioma, stated this at the 2026 Energy Conference of the Nigerian Association of Energy Correspondents (NAEC). He said the ongoing restructuring of ownership across parts of Nigeria’s energy industry, with indigenous companies taking on greater responsibilities, presented opportunities that must be matched with the capacity to develop and operate the assets effectively. “Ownership without capability creates little value. Ownership without financing limits potential. Ownership without innovation eventually loses relevance,” he said. According to him, the focus should not be on asset ownership alone but on how the assets can be deployed to create value, strengthen local capacity, attract investment, create jobs and improve energy security. Adeshina said Nigeria was at a critical point in its energy history, with new investors and indigenous companies assuming bigger roles while technology was changing how energy was produced, distributed and consumed. He said the central question should therefore be how to create conditions that would allow more people and businesses to benefit from opportunities in the sector. “Access to assets should not be viewed as an end in itself,” he said. The Sahara chairman said Nigeria had significant energy resources, with over 37 billion barrels of proven crude oil reserves and more than 200 trillion cubic feet of natural gas reserves. However, he said the country’s greatest resource remained the ingenuity, resilience and entrepreneurial spirit of its people. “If we can unlock the full potential of our people while expanding access to opportunity across the energy value chain, the possibilities for our country are immense,” he said. Adeshina identified government, financial institutions, industry players and the media as having important roles to play in creating an environment where indigenous businesses could grow. He said government must provide enabling policies and regulatory certainty, while financial institutions should develop innovative solutions to unlock capital for businesses in the sector. He also urged industry leaders to invest in talent, governance and operational excellence, while the media should continue to provide platforms for informed dialogue and accountability. Adeshina said Nigeria had professionals capable of solving complex energy challenges, entrepreneurs willing to invest and innovate, and young people bringing fresh perspectives and technological expertise. “What they need is an environment that enables them to succeed,” he said. He also acknowledged the Federal Government’s ongoing reforms, saying progress in recent years showed what could be achieved when policy, industry and investment moved in the same direction. Adeshina said the ultimate objective of asset ownership should be the expansion of opportunities and improvement in the lives of Nigerians. “The true measure of success will not be how many assets change hands, but how many lives are transformed because those assets were put to productive use,” he said. He urged stakeholders at the conference to focus on practical solutions that would ensure access to assets translated into prosperity for millions of Nigerians.