Firm Seeks Strengthening Of Indigenous Energy Sector

A Nigerian energy company, PANA Holdings, has reiterated its commitment to strengthening indigenous capacity in Nigeria’s energy sector, noting that indigenous companies are central to securing Nigeria’s industrial future.

Chairman and group chief executive officer of PANA Holdings, Dr Daere Afonya-a Akobo, stated this at the 2026 Energy Times Awards, where the company emerged as local content company of the year.

Akobo noted that by building local capacity, Nigeria reduces its reliance on foreign technical expertise while addressing long-standing challenges, such as capital flight, within the energy sector.

He noted that the recognition highlights a growing shift in the Nigerian energy landscape toward local firms taking ownership of technology, capabilities, and execution.

He said, “The greatest treasure of a nation is not its natural mineral endowments, but its capacity to enhance and add value through disciplined execution,” underscoring the importance of building indigenous capability as a foundation for long-term growth.

According to him, for years, local content in Nigeria was often viewed through the narrow lens of regulatory compliance or basic labour provision.

Akobo said the recognition of PANA Holdings reflects a more advanced interpretation of the Nigerian Oil and Gas Industry Content Development Act, one that prioritises capability development, value creation, and long-term industrial competitiveness.

He explained that strengthening indigenous capacity is no longer just a policy objective but a matter of national resilience.

“By localising complex engineering processes and advancing data-driven operations, Nigeria reduces reliance on foreign technical expertise while addressing long-standing challenges such as capital flight within the energy sector,” Akobo added.

Other notable awardees included Egbin Power Plc (Electricity Company of the Year) and MOMAS Group (Innovative and Technology Leadership), collectively reflecting an industry increasingly driven by home-grown innovation, technical depth, and execution capability.