‘How Heirs Energies Approach Boost Production, Operational Excellence in Nigeria’s Oil, Gas Industry’ – Igiehon, Heirs Energies CEO

…as the company looks to acquire additional assets, expand operations across Africa.

In this interview with Ndubuisi Micheal Obineme, Managing Editor of The Energy Republic, Engr. Osayande Igiehon, Heirs Energies CEO, speaks about his career journey in the global energy industry, as well as the super story behind the Heirs Energies operational excellence in the Nigerian energy, oil, and gas industry, coupled with the company’s ambitious target to acquire additional assets and expand operations across Africa.

The story of Heirs Energies started in 2021 when it acquired OML 17, a prime acreage located onshore in the Niger Delta. The company was seen as a new entrant in Nigeria’s energy, oil and gas industry.

Today, Heirs Energies has proved popular, and transformed from being a start-up company into Nigeria’s leading indigenous energy company through the leadership of Engr. Osayande Igiehon.  Excerpts:

TER: Happy New Year to Heirs Energies! Engr. Igiehon, you have had an exceptional career journey having spent 27 years with Shell, rising to the Group Vice President position, with postings in Nigeria, Netherlands, Russia, and Gabon. How would you describe your career journey and its impact on your current leadership role as the CEO and Managing Director of Heirs Energies? What inspirations would you like to share from your working experience in the energy industry?

Igiehon: My career journey has been both transformational and deeply instructive, shaped by the diverse environments and cultures I encountered over nearly three decades with Shell, both at the regional and International levels. During that time, I was privileged to be based in Nigeria, the Netherlands, Russia, and Gabon. Additionally, I worked on focused assignments in many other countries, to the effect that I either consulted, taught, or audited in countries on all continents except South America. Each of the diverse operational settings I went through presented unique operational demands, cultural nuances, and geopolitical contexts. Taken together, these experiences cultivated my belief in the power of diversity, resilience, and long-term thinking.

Perhaps the most defining period of my career occurred in Gabon, where I served as the Country Chair and Managing Director. The stakes could not have been higher: we faced severe financial pressures triggered by low oil prices, and our immediate challenge was to ensure business continuity while safeguarding jobs and fostering local economic benefits. To achieve a rapid turnaround, I engaged directly with multidisciplinary teams – ranging from technical leads to community liaisons – and consistently emphasized the importance of value delivery and bottom-line impact. In less than a year, we stabilized operations, restored the economic fortunes of the company, rebuilt stakeholder confidence, and demonstrated that strategic collaboration and disciplined execution could deliver tangible results against formidable market headwinds.

These lessons profoundly shaped my leadership style – one grounded in strategic value framing, persistent delivery, accountability, innovation, and empathy. At Heirs Energies, these principles underpin our approach to revitalizing mature assets, optimizing production, and integrating environmental stewardship with economic growth. In particular, I rely on cross-cultural insights gained from my time in Russia and the Netherlands, where I witnessed firsthand how inclusive leadership practices and respect for local contexts can be a springboard for operational excellence.

When I reflect on the inspirations drawn from my work in the global energy sector, one theme resonates above all: people are at the core of any successful enterprise. Whether in the field or the boardroom, real progress happens when teams feel empowered to share ideas, learn from mistakes, and collaborate openly. The oil and gas industry, in particular, demands agility, resilience, and a willingness to rethink established norms. I have seen how even the most entrenched challenges can be overcome when individuals unite around a clear, shared vision.

My journey has also reinforced the power of aligning business imperatives with community aspirations. Energy projects do not exist in a vacuum; they affect people’s livelihoods, local ecosystems, and national development agendas. Leading a turnaround in Gabon taught me that social and environmental commitments can – and should – be catalysts for operational success. Today, I carry that conviction into every aspect of Heirs Energies’ mission, from our environmental safeguards to our community investment programs.

If there is one inspiration I’d emphasize, it would be that no obstacle is insurmountable if approached with clarity, conviction, and the right coalition of people. By embracing challenges as opportunities to refine our methods, empower our teams, and foster a culture of creativity, we not only enhance our immediate performance but also leave a lasting positive footprint in the communities where we operate. This outlook continues to guide my decisions and leadership approach at Heirs Energies, ensuring that our work delivers both robust returns and meaningful, sustainable benefits.

TER: Today, Heirs Energies has taken up the mantle as the operator of OML 17, accounting for 5% of Nigeria’s oil production and another 5% of gas production. Since you came on board, Heirs Energies has demonstrated remarkable operational excellence in growing its oil production from 27,000 to 52,000 barrels per day as well as increased its terminal delivery from three percent in December 2021 to 85 percent presently. What have been Heirs Energies’ driving force and cardinal focus areas leading to increased oil and gas production? What is your company doing to nurture these success stories?

Igiehon: Our remarkable operational gains at OML 17 – most notably, the increase in oil production from 27,000 to over 52,000 barrels per day and the boost in terminal delivery from 3% to over 85% – are the direct result of Heirs Energies’ strong commitment to strategic innovation, disciplined execution, resilience and purposeful collaboration with all stakeholders. At the core of our approach is the Brownfield Excellence (BFE) methodology, which draws on the frameworks that I have developed during my career on how to most efficiently maximize production from brownfields.

Brownfield Excellence (BFE) in Action

BFE centers on optimizing existing fields using rigorous technical frameworks, advanced data analytics, and a profound respect for local contexts. In the case of OML 17, this has meant thoroughly assessing legacy infrastructure, identifying quick-win opportunities for production enhancement, and pursuing targeted well interventions. We have also invested in:

Advanced Technologies: From well-completion techniques to digital field monitoring, we leverage cutting-edge tools to maximize output and minimize downtime.

Data-Driven Insights: Continuous reservoir surveillance and analytics inform decision-making, ensuring that interventions are both timely and cost-effective.

Operational Efficiency & Cost Optimization

A key priority has been the elimination of production bottlenecks and the reduction of non-productive time. By standardizing processes, embracing lean project management, and upskilling our workforce, we have significantly lowered operating costs without compromising on safety or environmental standards. This focus on efficiency is integral to delivering consistent, profitable growth despite market volatility.

Culture of Continuous Improvement

Underpinning our technical strategies is a workplace culture that celebrates innovation and accountability. Our employees are encouraged to question established norms, propose new solutions, and take ownership of results. This relentless drive for value and excellence fuels our ability to adapt quickly, correct course when necessary, and deliver sustainable outcomes that benefit both Heirs Energies, our Joint Venture partners, and our host communities.

Stakeholder Collaboration & Community Development

We recognize that true operational success extends beyond production metrics – it is equally about nurturing trust and fostering inclusive growth. Our close collaboration with community leaders, local businesses, and government officials has been pivotal in addressing shared challenges like crude oil theft and environmental risks. By partnering with these stakeholders and engaging them in constructive dialogue, we have built a sense of collective responsibility for safeguarding our operations.

Environmental Stewardship & Future-Focused Vision

Even as we grow production, we remain deeply committed to reducing our environmental footprint. Cutting-edge flaring reduction programs, the Nigerian Gas Flare Commercialisation Project, biodiversity conservation efforts, and responsible waste management are integral components of our operational framework. We see these measures beyond regulatory obligations but as strategic investments in the long-term viability of our fields and the well-being of the communities around them.

Nurturing Success for the Long Haul

Heirs Energies will continue to embed these practices in every facet of our business, from continued asset revitalization to new acquisitions and expansions. We firmly believe that when operational excellence, community empowerment, and environmental responsibility align, companies can unlock extraordinary value for themselves and the broader society. As we move forward, these principles will remain the cornerstone of our ability to deliver on our promises and create a lasting impact in Nigeria’s energy sector.

TER: How integrated and transparent are Heirs Energies Environmental, Social, and Governance (ESG) strategy and implementation process as well as its impact on stakeholders, especially communities?

Igiehon: At Heirs Energies, ESG is an integrated way of life. Our ESG strategy is fully integrated into every aspect of our operations, from planning and execution to monitoring and reporting. We believe that transparency and accountability are critical to building trust with our stakeholders, particularly the communities where we operate.

Environmental Stewardship: We are committed to minimizing our environmental footprint through sustainable practices and innovative technologies. For example, we have implemented measures to reduce flaring, manage waste responsibly, and protect biodiversity in our operational areas.

Social Responsibility: Our approach to community engagement is rooted in shared prosperity. We work closely with host communities to identify their needs and implement initiatives that promote education, healthcare, and economic empowerment. Our goal is to create a lasting positive impact and foster mutually beneficial relationships.

Governance: We adhere to the highest standards of corporate governance, ensuring that our operations are conducted with integrity, transparency, and accountability. Our governance framework includes robust risk management processes, ethical business practices, and regular stakeholder consultations.

The impact of our ESG strategy is evident in the strong relationships we have built with our stakeholders, and this has enhanced our operational performance and earned the trust and support of our communities.

TER: In 2022, Heirs Energies experienced the most challenging year when there were hard hit by crude oil theft at its operations in the Niger Delta region. What actions were taken to tackle the oil theft issue to a minimal level? What are the key lessons learned from the incident?

Igiehon: The year 2022 posed one of our greatest operational challenges, as crude oil theft in the Niger Delta threatened not only our revenue and production targets but also the social and environmental fabric of our host communities. Rather than view the crisis in isolation, we approached it as a catalyst for deeper collaboration, systemic innovation, and more robust community engagement.

To address the issue, we took a multi-faceted approach:

  • Enhanced Security Measures: We partnered with Government security agencies and local communities to strengthen surveillance and protect our assets. This included deploying advanced monitoring technologies and increasing patrols in vulnerable areas.
  • Community Engagement: We recognized that sustainable solutions require the involvement of host communities. By engaging community leaders and stakeholders, we were able to build trust and foster a sense of collective responsibility for protecting our operations.
  • Operational Adjustments: We implemented operational changes to minimize vulnerabilities and improve infrastructure resilience.
  1. Collaboration with Industry Peers: We worked closely with other operators industry bodies and Government security agencies to share intelligence and best practices for combating oil theft.

The key lesson from this experience is the importance of collaboration and proactive risk management. By working together with stakeholders and leveraging technology, we were able to reduce oil theft to a minimal level and ensure the continuity of our operations.

TER: How can the Nigerian government and indigenous players collaborate to resolve crude oil theft in the Nigerian oil and gas industry? What strategic initiatives would you recommend as a structure for industry collaboration in addressing crude oil theft and pipeline vandalism?

Igiehon: The enduring challenge of crude oil theft in Nigeria’s oil and gas industry demands a cohesive strategy uniting government agencies, indigenous operators, host communities, and industry bodies. First and foremost, the government should champion collaborative frameworks that bring together security forces, regulatory authorities, and private sector expertise in a coordinated response. By creating a dedicated task force with clear mandates, shared intelligence capabilities, and real-time data exchange, operators can systematically address the vulnerabilities in pipelines, storage facilities, and transport routes.

Stakeholder engagement must also extend to the grassroots level. Empowering local communities through education, vocational programs, and direct economic incentives helps transform them into proactive partners in the fight against oil theft, rather than passive bystanders. Government-led policies should reinforce these efforts by enacting stricter legal frameworks and penalties that serve as a deterrent for criminal activities, while simultaneously rewarding communities that exhibit tangible progress in safeguarding assets.

Indigenous players can further strengthen collective resilience by jointly investing in technologies that enable early detection of leaks or tampering. When supported by consistent policy reforms, these innovations bolster operational security and reduce response times to theft incidents. Additionally, periodic industry roundtables would allow operators to share best practices and align on standards for pipeline reinforcement, early-warning systems, and community relations.

Ultimately, building a secure, theft-resistant environment hinges on the interplay of good governance, inclusive community development, robust technology adoption, and purposeful collaboration across every stakeholder group. By adopting a cohesive, long-term approach that recognizes the mutual benefit of stable operations and inclusive growth, Nigeria can significantly reduce crude oil theft and foster a healthier, more sustainable industry for all.

TER: Do you think having a Joint Venture (JV) between Nigerian indigenous companies would enhance the production & asset management of critical oil and gas infrastructures in Nigeria?

Igiehon:  Absolutely. Joint Ventures between Nigerian indigenous companies can be a game-changer for the industry. By pooling resources, expertise, and capabilities, indigenous operators can achieve greater economies of scale, enhance operational efficiency, and drive innovation. JVs also provide an opportunity to share risks and rewards, making it easier to undertake large-scale projects and invest in critical infrastructure.

At Heirs Energies, we are open to strategic partnerships that align with our vision of sustainable energy development. We believe that collaboration among indigenous players is key to unlocking the full potential of Nigeria’s oil and gas sector.

TER: Beyond Nigeria, the African energy, oil, and gas industry has entered an era of growth opportunities following several developments across the oil and gas value chain in the continent. What are your projections on key factors to drive growth in Africa’s oil and gas industry?

Igiehon: Africa’s oil and gas industry is uniquely positioned to experience significant growth, thanks to abundant natural resources, a maturing regulatory environment, and rising demand for reliable, affordable energy across the continent. Several key factors will likely drive and shape this growth trajectory:

  1. Resource Potential and Exploration

Africa’s vast untapped hydrocarbon reserves both onshore and offshore present an immense opportunity for new discoveries and field developments. Strategic exploration investments, supported by more transparent licensing rounds, will continue to attract both indigenous companies and global industry players looking to diversify their portfolios.

  1. Natural Gas as a Bridge Fuel

With global energy markets pivoting toward cleaner sources, Africa’s considerable natural gas reserves can serve as a critical bridge in the continent’s energy transition. By developing gas infrastructure such as LNG facilities, distribution networks, and power generation plants, countries can bolster domestic energy security, reduce flaring, and lower their carbon footprint.

  1. Infrastructure and Logistics

Ongoing investments in pipelines, refineries, petrochemical plants, and export terminals are central to unlocking Africa’s energy potential. Improved infrastructure not only boosts operational efficiency but also expands access to new markets, both domestically and regionally. Public‑private partnerships, supported by multilateral financial institutions, can fast-track these projects and address existing bottlenecks.

  1. Local Content and Capacity Building

A strong focus on local content policies ensures that the wealth generated from the oil and gas sector circulates within African economies. By cultivating indigenous talent, encouraging technology transfer, and integrating local supply chains, African nations can strengthen their energy sectors from within and promote inclusive economic development. This approach also helps mitigate dependence on external expertise, making the industry more resilient over time.

  1. Diversification into Renewables

Even as the oil and gas sector remains vital, many African countries are beginning to invest in solar, wind, and other renewable energy sources. This complementary path not only helps meet domestic power needs more sustainably but also lays the groundwork for a more balanced and flexible energy mix in the long term. Oil and gas operators that embrace renewables and low-carbon technologies can position themselves as leaders in the emerging energy landscape.

  1. Regional Integration and Trade

Cross-border energy projects and harmonized regulatory frameworks can drive economies of scale, facilitate knowledge sharing, and accelerate industrial growth. Initiatives like the African Continental Free Trade Area (AfCFTA) create new pathways for collaboration and resource pooling. This regional focus is critical for smaller markets that may lack the scale to develop large energy projects independently.

Collectively, these factors underscore a dynamic moment for Africa’s oil and gas industry, one that requires strategic partnerships, balanced policy reforms, and a shared commitment to local development. By capitalizing on resource endowments, strengthening infrastructure, and fostering talent, African operators can not only drive robust growth but also shape a more sustainable, inclusive energy future for the continent.

TER: Are Heirs Energies considering acquiring another asset and expanding its operations in Africa in the future?

Igiehon: Yes, we are actively exploring opportunities to acquire additional assets and expand our operations across Africa. Our goal is to build a diversified portfolio of high-quality assets that align with our vision of sustainable energy development that will meet the unique energy needs of Africans.

TER: Are there any projects Heirs Energies is involved in that you would like to share with us?

Igiehon:  where we have already demonstrated substantial gains in production, operational efficiency, and community engagement. Our Brownfield Excellence (BFE) methodology, which integrates rigorous technical evaluations with streamlined project execution, has been pivotal in optimizing well performance, reducing downtime, and enhancing infrastructure reliability. As a direct result, we have doubled our daily oil output in a relatively short span, strengthening our position as a key player in Nigeria’s energy landscape.

Beyond OML 17, we are actively investing in gas development to support Nigeria’s broader energy needs. By capturing and commercializing gas that would otherwise be flared, we not only reduce our carbon footprint but also bolster local power generation and industrial growth. In parallel, we continue to explore renewable energy opportunities—such as solar and potential hybrid solutions—aimed at diversifying our portfolio and further aligning with global sustainability targets. These projects underscore our dual objective of maximizing near-term production while fostering long-term economic and environmental benefits for our stakeholders.

TER: What should the African Energy Bank prioritize to support indigenous companies in terms of project development? What funding strategy could be adopted to ensure the Bank’s financial instruments are allocated efficiently on projects across the African continent?

Igiehon: To accelerate the development of indigenous energy projects across Africa, the African Energy Bank must strike a balance between commercial viability and developmental impact. This entails prioritizing affordable, long-term financing solutions; offering capacity-building programs tailored to local realities, and deploying risk-mitigation tools that encourage private sector investment.

Firstly, affordable access to capital is paramount. Energy projects often involve significant upfront costs with extended timelines before realizing revenue. Providing patient capital—through low-interest loans, longer repayment schedules, or equity-like instruments—enables Indigenous operators to commit to larger and more strategic projects while maintaining stable cash flows.

Secondly, capacity-building programs are critical for enhancing the technical, managerial, and governance capabilities of local companies. By collaborating with multilateral agencies, NGOs, and industry experts, the Bank can fund training initiatives and mentorship schemes that strengthen skills in areas such as project financing, engineering, environmental compliance, and stakeholder engagement. An ecosystem of capable local players fosters both innovation and resilience, ultimately supporting the Bank’s own investment outcomes.

Thirdly, risk-mitigation instruments—such as guarantees, partial risk insurance, and co-financing mechanisms—help de-risk projects that might otherwise struggle to secure traditional financing. Leveraging these instruments to offset exploration, developmental, or geopolitical risks can attract broader participation from commercial lenders, private investors, and international partners, thereby expanding the pool of available capital.

Additionally, support for project pipeline development can streamline the identification and structuring of bankable ventures. By actively collaborating with governments, industry bodies, and local communities, the Bank can set clear eligibility criteria, align on permitting requirements, and facilitate regulatory approvals. This process not only reduces bureaucratic bottlenecks but also ensures investments are channeled toward initiatives with genuine social and economic value.

Finally, regional collaboration and an inclusive funding strategy are vital. Encouraging cross-border energy projects, harmonizing standards among neighboring countries, and fostering power-pooling agreements can maximize impact and promote regional integration. Such efforts unlock economies of scale, reduce duplication, and make the most of shared resources—including knowledge, infrastructure, and human capital.

Taken together, these measures position the African Energy Bank as a pivotal facilitator of sustainable growth. By tailoring financial instruments to local conditions, cultivating expertise on the ground, and incentivizing collaborative ventures, the Bank can ensure that indigenous African operators thrive—and, in turn, fuel broader economic and social development across the continent.

TER: What are Heirs Energies’ main priority areas in 2025 and beyond?

Igiehon: Heirs Energies’ strategic roadmap for 2025 and beyond revolves around several intertwined objectives that emphasize resilience, growth, and sustainability. First and foremost, we will continue to optimize our brownfield assets, leveraging our Brownfield Excellence (BFE) methodology to drive sustained production growth while maintaining a relentless focus on operational safety and efficiency. Building on the success of OML 17, we aim to scale up these proven practices, explore new fields, and deepen our capability to revitalize underutilized assets across Nigeria and the broader African continent.

Equally important is our commitment to advancing energy sufficiency by expanding gas development projects, reducing routine flaring, and investing in cleaner energy solutions. Although hydrocarbons remain integral to our near-term growth, we are strategically positioning ourselves to align with emerging low-carbon opportunities—both to reduce our environmental footprint and to ensure we remain competitive in a rapidly evolving energy landscape.

Another core priority is long-term stakeholder value creation, underpinned by a deep sense of social responsibility. This means continuing to build meaningful partnerships with host communities, investing in education and skills training, and fostering local entrepreneurship. Through these efforts, we aim to secure our social license to operate while creating a more inclusive, prosperous environment for all stakeholders.

Furthermore, innovation and technology adoption will be essential for delivering on our production and sustainability targets. We are committed to deploying advanced digital tools, data analytics, and automated systems that enhance well surveillance, reduce operational bottlenecks, and optimize resource recovery. This culture of continuous improvement—encouraging employees to challenge traditional methods and propose innovative solutions—will help us stay ahead of market fluctuations and regulatory demands.

Finally, we will continue to expand strategically, assessing acquisition opportunities and partnerships that align with our vision of sustainable energy development. Our goal is to cultivate a diversified and resilient asset portfolio, one that balances oil and gas projects with emerging renewable options. By marrying consistent operational performance with thoughtful ESG integration, Heirs Energies aspires to remain a frontrunner in shaping Africa’s energy future well into the coming decades.

TER:  You will be speaking at the Sub-Saharan Africa International Petroleum Exhibition and Conference (SAIPEC) 2025 conference. What will be your major talking point?

Igiehon:  At the 2025 Sub-Saharan Africa International Petroleum Exhibition and Conference (SAIPEC), my primary focus will be on how innovation and strategic collaboration can accelerate sustainable energy development across Africa. Drawing on Heirs Energies’ successes – particularly our Brownfield Excellence methodology and experience revitalizing mature assets like OML 17 – I plan to illustrate the practical steps operators can take to drive near-term operational gains while simultaneously preparing for a more diversified, low-carbon future.

I will emphasize the importance of building robust partnerships, not only among industry peers but also with host communities, local service providers, and governmental bodies, as genuine collaboration is vital for tackling issues such as infrastructure gaps and crude oil theft. Moreover, I will discuss how to blend technological advancements such as digital well surveillance and data analytics with long-standing community engagement strategies to foster inclusive growth. By sharing these insights, I hope to inspire other African operators to pursue both financially viable and environmentally responsible solutions, ultimately bolstering the region’s energy security and long-term competitiveness.

TER:  How important is SAIPEC to your company’s deliverables and what will Heirs Energies showcase at this year’s SAIPEC?

Igiehon:  SAIPEC holds significant strategic value for Heirs Energies, as it offers an influential platform to engage with industry peers, government officials, and potential collaborators across the African energy sector. By participating in this event, we can both share our insights on operational best practices and learn from others who are tackling similar challenges, whether that involves new technology deployment, community development, or sustainable energy initiatives.

This year, we will showcase the tangible outcomes of our Brownfield Excellence methodology, highlighting the work done at OML 17 and our broader commitment to operational excellence, environmental stewardship, and social responsibility.

Our goal is not only to demonstrate what we have achieved thus far but also to foster valuable partnerships that support continued growth and transformation across the entire African energy landscape.

Source: Energy Republic

CEO feature on Osa Igiehon on Arise Xchange

Our CEO, Osa Igiehon, appeared on Arise Xchange to discuss how Nigeria can push production to 2.7 million barrels/day, the power of indigenous operators like Heirs Energies, and why gas is central to Africa’s energy needs. He emphasized the “AND” approach – fossil fuels and renewables – to meet growing demand.

 

Heirs Energies champions Africa’s energy future with groundbreaking solutions at AEW 2024

Osa at AEW

Heirs Energies, Africa’s leading integrated energy company, delivered transformative insights and solutions at the African Energy Week (AEW) 2024 in Cape Town, South Africa. The landmark event, which convened global energy leaders from November 4-8, served as a platform for charting Africa’s path toward energy sovereignty and sustainability.

In a compelling fireside chat with Energy Intelligence, Osayande Igiehon, CEO of Heirs Energies, presented a masterclass on “Navigating Nigeria’s Energy Future,” offering groundbreaking perspectives on unlocking Africa’s vast energy potential while ensuring environmental stewardship.

“The future of African energy lies not in choosing between traditional and renewable sources, but in harmonizing both to create sustainable solutions that address our unique challenges,” Igiehon emphasized during his address.

Breakthrough achievements and strategic vision:

Revolutionary Field Management: Unveiled the proprietary Brown Field Engineering (BFE) approach, which has achieved an unprecedented 110% production increase in mature assets, setting new industry standards for field optimization

Strategic Energy Integration: Introduced an innovative “AND” strategy that seamlessly integrates hydrocarbon expertise with renewable technologies, creating a blueprint for Africa’s energy transition

Investment Leadership: Presented compelling strategies for attracting global capital, highlighting Africa’s competitive advantage in lower-carbon intensity projects and strategic gas monetization initiatives

Production Excellence: Showcased Heirs Energies’ success in doubling production at OML 17, demonstrating the company’s operational prowess and technical capabilities

During the high-profile panel on “The African Upstream: Investment Trends and Future Opportunities,” Igiehon articulated a bold vision for indigenous energy companies’ role in Africa’s energy transformation. He detailed how Heirs Energies’ integrated approach is reshaping industry standards while advancing the continent’s energy security agenda.

“Our success in revitalizing mature assets while pioneering sustainable practices proves that African companies can lead the global energy transition,” Igiehon stated. “We’re not just participating in the industry’s evolution; we’re driving it.”

Heirs Energies’ commanding presence at AEW 2024 reinforces its position as the torchbearer for Africa’s energy renaissance, skillfully balancing robust energy production with environmental stewardship. The company’s innovative approaches and strategic insights have set new benchmarks for sustainable energy development in Africa.

Heirs Energies Limited (formerly HeirsHoldings Oil & Gas Limited) is Africa’s leading indigenous-owned integrated energy company, committed to meeting Africa’s unique energy needs while aligning with global sustainability goals. Having a strong focus on innovation, environmental responsibility, and community development, Heirs Energies leads the evolving energy landscape and contributes to a more prosperous Africa.

Tony Elumelu to Co-Chair New Africa Summit at the 8th Edition of Saudi Arabia’s Future Investment Initiative

Tony O. Elumelu, CFR

• Elumelu and other global financial business leaders will headline the FII Opening Plenary titled “Board of Changemakers: Banking & Investment”

• Will also speak on the “Landscape of African Entrepreneurship” in a fireside chat, championing entrepreneurship, investing in youth, and highlighting the fast-growing presence of United Bank for Africa (UBA) in the Gulf

Riyadh – October 21, 2024: Tony Elumelu, Chairman of Heirs Holdings and United Bank for Africa (UBA), and the Founder of The Tony Elumelu Foundation (TEF), will co-chair the New African Summit, at the upcoming eighth edition of the Future Investment Initiative (FII) in Riyadh, Saudi Arabia.

Themed “Infinite Horizons”, FII will gather some of the world’s most influential leaders, to demonstrate how investment can serve as a catalyst for a prosperous and sustainable future, pushing the boundaries of what is possible for humanity. Elumelu bring his perspective as both a business leader and catalytic philanthropist.

Africa will take centre stage, shaping the discussions at FII. Mr. Elumelu, one of the most prominent voices on Africa’s transformation agenda, will advocate for entrepreneurship and investing in youth as the means to accelerate Africa’s economic growth and development. He will draw insights from the impact and unique model of the Tony Elumelu Foundation, the leading philanthropy empowering a new generation of African entrepreneurs, driving poverty eradication and job creation across Africa.

On October 29, Mr. Elumelu will join other global business leaders, in the Opening Plenary panel, titled “Board of Changemakers: Banking & Investment,” to discuss whether visionary leaders create new economic systems that embrace innovation.

Demonstrating global interest in HH Group companies and the breadth of the HH investment portfolio, the Forum will see the presence of other senior Heirs Holdings executives:

• Owen Omogiafo, President and Group CEO of Transcorp Group, one of Africa’s leading, listed companies, with strategic investments in the power, hospitality, and energy sectors, driven by its mission to improve lives and transform Africa, will join other global female leaders in the energy sector at the HERizon Summit to discuss how women can power sustainable supply chains.

• Osa Igiehon, CEO of Heirs Energies will share insights on energy transition and security at his session focused on powering Africa’s future through green investments. Heirs Energies has made significant impact in Nigeria, driving energy self-sufficiency, through rapid expansion in oil and gas production and building energy value chains, contributing to HH’s integrated energy strategy.

• Muyiwa Akinyemi, Deputy Managing Director, United Bank for Africa Group, will join a roundtable session, leveraging his perspective drawn from his career with Africa’s Global Bank. UBA Group’s presence in the GCC is pivotal in fostering stronger economic ties between Africa and the Gulf, reflecting a commitment to cross-border investment and sustainable growth.

The Tony Elumelu Foundation will also host a plenary session on the sidelines of FII, focused on youth entrepreneurship and its critical role in creating shared prosperity on the continent.

As the advocate of Africapitalism, Mr. Elumelu has long championed entrepreneurship as key to accelerating economic growth across Africa, leveraging his presence at FII to highlight the continent’s vast investment opportunities.

Mr. Elumelu said: “The relationship between Africa and the Gulf has evolved to be a thriving economic partnership, driving growth across both regions. I am proud to co-chair the New Africa Summit at FII, where we will explore mutually beneficial investment opportunities between Africa and the Gulf and highlight the key role entrepreneurship plays in transforming visions into ventures. Together, Africa and the Gulf are building a legacy of shared prosperity for a better tomorrow.”

Heirs Energies Executives Highlight Gas and Renewables as Key to Nigeria’s Energy Future

At the Nigeria Energy Leadership Summit Heirs Energies CEO, Osa Igiehon and Executive Director/CFO, Samuel Nwanze, shared insights on the future of Nigeria’s energy sector.

In his plenary address, Osa stressed that gas-to-power solutions are critical to overcoming the country’s energy challenges. He emphasised the importance of collaboration between upstream companies and power generators to fully unlock Nigeria’s natural gas potential, which could drive economic growth, create jobs, and improve the quality of life for millions of Nigerians.

“Gas-to-power is not just an option; it is the backbone of Nigeria’s energy security,” he said. “While renewable energy is essential, we need a stable baseload power supply, and natural gas provides a cleaner, more reliable alternative to coal and diesel.” He added that leveraging gas for power generation would reduce reliance on imported fuels and stabilise the national grid, helping the country cut carbon emissions while fostering sustainable development.

Osa also pointed to Nigeria’s ambitious targets to provide electricity to over 90% of the population by 2030, noting that these goals are achievable through effective government and private sector collaboration. He emphasized Heirs Energies’ commitment to being a strategic supplier of gas to power plants and industries, aiming to play a key role in ensuring Nigeria’s energy security.

Samuel Nwanze addressed the financial aspects of Nigeria’s energy transition during a fireside chat on the theme, “Investing in Tomorrow: Navigating the $360 Billion Energy Transition.” Sam revealed that Nigeria will need approximately $135 billion to decarbonize its power sector by 2060 and meet net-zero emission goals.

He outlined the critical role of innovative financing, including green bonds and blended finance, to accelerate the development of renewable energy projects. “There is no one-size-fits-all financing solution for renewable energy,” Sam said, highlighting the need for tailored approaches to mitigate project risks and attract capital. He also emphasized the importance of upgrading Nigeria’s grid infrastructure and scaling up off-grid solutions to ensure energy access and sustainability.

Sam also pointed to the need for clear policy frameworks to provide certainty around tariffs and demand, which are essential for attracting long-term investments. “Expanding transmission infrastructure and adopting energy storage solutions are key to integrating renewable energy into the national grid,” he added.

Both Osa and Sam reaffirmed Heirs Energies’ dedication to advancing Nigeria’s energy transition. By combining natural gas with renewable energy solutions, they believe Nigeria can create a sustainable and equitable energy future that will power economic growth.

 

Heirs Energies CEO Discuss Nigeria’s Energy Sector in Financial Times Interview

Osa

Osa Igiehon CEO, Heirs Energies recently featured in an insightful interview with the Financial Times. The interview covers Nigeria’s current oil production challenges, and the significant contributions Heirs Energies is making in the sector.
In the interview, Osa Igiehon discusses:

  • Heirs Energies’ role in Nigeria’s oil and gas production.
  • Challenges such as theft and investment hurdles.
  • The broader energy transition and the emergence of indigenous companies.

Osa

Watch Here

Full Speech: Osayande Igiehon, CEO Heirs Energies at the Niger Delta Stakeholder’s Summit 2024

Full Speech: Osayande Igiehon, CEO Heirs Energies (Representing Mr Tony O. Elumelu CFR, Chairman UBA, Heirs Holdings and Transcorp Plc) at the Niger Delta Stakeholder’s Summit 2024 at Obi Wali International Conference Centre, Port Harcourt, 12th July 2024 on “Renewed Hope for Sustainable Development In The Niger Delta”

 

His Excellency, Bola Ahmed Tinubu, GCFR

The President, Commander-in-Chief, Federal Republic of Nigeria

Dr Goodluck Jonathan, GCFR, Former President, Federal Republic of Nigeria.

Senator Godswill Akpabio, CON, President of The Senate

All other protocols observed.

Good morning distinguished guests, stakeholders, and fellow proud sons and daughters of the Niger Delta.

It is a great honor to be here with you today, on behalf of Mr. Tony Elumelu CFR.

We congratulate the Board and Management of the Niger Delta Development Commission (NDDC) for hosting this epoch summit, to deliberate on the Niger Delta, the Renewed Hope agenda of our dear President Tinubu and how this agenda will bring sustainable development to the Region.

As many of you know, Mr. Elumelu hails from Delta State and is a passionate believer in the tremendous potential of the Niger Delta and its people. Being Edo myself, I am quite pleased for this opportunity to give our reflections on this important theme.

The Renewed Hope Agenda is the transformative platform of our dear President Tinubu, which is hinged on the core pillars of Democracy, Development, Demographics, and Diaspora Engagement.

Classically, sustainable development refers to the ability to meet the needs of the present generation without compromising the ability of future generations to meet their own needs.

Furthermore, the United Nations has developed a Sustainable Development Goals Program with several key objectives that are crucial to the development of the Niger Delta, namely addressing poverty and hunger; providing health, education, and decent work; providing infrastructure and affordable energy; making communities and cities sustainable; and taking the necessary actions to address the impacts of climate change.

Against this backdrop, we see that the sustainable development of the Niger Delta requires all the stakeholders represented in this summit today – the Federal, State, and Local Governments and their organs and agencies; the private sector; traditional and community institutions; civil society; and the public at large.

The Summit’s theme of “Renewed Hope for Sustainable Development in the Niger Delta” resonates deeply with us, because, for too long, the story of the Niger Delta has been one of unfulfilled potential, environmental degradation, and economic exclusion. And, we believe that a new chapter in the long story is being written – one defined by more sustainable growth, shared prosperity and empowered communities.

The Renewed Hope agenda of Mr President therefore will be pivotal to the advancement of sustainable development of the Niger Delta on many fronts.

Looking at the private sector, we at HeirsHoldings have consistently espoused that the African private sector must play a leading role in Africa’s development. This is one of the key tenets of our philosophy called Africapitalism, which is at the heart of everything we do.

With Africapitalism, we seek to create both economic and social value in all our investments and operations. We measure our success not just by the profits we generate, but by the jobs we create, the businesses we empower, our environmental responsibility and the communities we uplift.

At Heirs Holdings, we are deeply committed to driving sustainable development and creating shared prosperity across Africa. To date, our companies employ over 40,000 people in more than 20 African countries

Here in the Niger Delta, the heartland of Nigeria’s oil and gas industry, we are demonstrating our dedication to the region through our strategic investments and operations. Our oil and gas subsidiary, Heirs Energies Limited, operates significant OML17 in Rivers State. Notably, 100% of the gas produced from OML17 is channeled into the domestic market, providing critical energy supply to power industries, hospitals, homes, and schools across the region. This not only brings economic relief to the people, but also underscores our commitment to catalyzing local development.

In the power sector, Transcorp operates two significant plants in the Niger Delta: the Ughelli Power Plant in Delta State and the Trans Afam Power Plant here in Rivers State. With a combined installed capacity of 3000MW, these investments are strategically positioned to transform lives by expanding access to reliable and affordable electricity.

Our business investments demonstrates our belief that indigenous companies like ours have a unique role and responsibility in driving the Niger Delta’s growth and prosperity, and we are proud to be leading by example.

Beyond our business activities, the Tony Elumelu Foundation has to date empowered over 20,000 young African entrepreneurs, including thousands here in the Niger Delta, providing them with the capital and training to launch and grow their businesses.

As the Head of Heirs Holdings’ Oil and Gas investments, I have had the privilege of working closely with Mr. Elumelu, witnessing his vision and passion for driving Africa’s growth through entrepreneurship and private-sector innovation. He always emphasizes that while the private sector has a vital role, it cannot succeed in isolation. Systemic challenges from infrastructure deficits to skills gaps to a difficult business environment, can stifle even the most promising entrepreneurial spirits.

This situation is evident in many places, including the Niger Delta, where we have been grappling with many challenges over the years, including  poverty, environmental degradation, social unrest, and an over-reliance on oil and gas. However, Mr. Elumelu has also instilled in us an unshaken belief that a new future is possible for the Niger Delta – a future where every person can have a decent life, access quality fundamentals of life – food, shelter, healthcare education, etc and be engaged economically; where local businesses can thrive and grow; where communities are healthy, peaceful and resilient; and where the benefits of the region’s vast natural resources are shared equitably.

Achieving this vision will not be easy. It will require all of us – government, business, civil society, and communities – to work together in new ways. It will demand sustained commitment, innovative thinking, and difficult compromises. But I assure you today, it can be done!

We have seen determined leaders and engaged citizens come together to transform even the most challenging circumstances. With the right policies, investments and partnerships, we can build an economy in the Niger Delta that is diverse, inclusive and sustainable. An economy that creates opportunities for all. An economy that harnesses the dynamism of the private sector while ensuring that growth is broadly shared. This is the renewed hope that this moment demands of us.

So, beyond Mt President’s agenda in itself,  Renewed Hope is a call to action to all stakeholders, that we should rekindle our interest and intellect, that we should shore up our courage and the resilience that we are known for as Nigerians; that we should face the tasks at hand with resolve and enthusiasm, and with a clear conviction that the challenges of sustainably developing the Delta is possible. And that we should commit to this objectives, under the leadership of Mr President and the critical initiatives being deployed under Renewed Hope agenda.

At Heirs Holdings, under Mr. Elumelu’s leadership and vision, we are fully committed to this task. We stand ready to work with all of you to seize this opportunity and to build a more just, prosperous, and peaceful future for the Niger Delta and all its people.

As a son of the Niger Delta myself, I am energized by the dynamism, creativity, and resilience I see in our young people every day. With the right support and opportunities, they will be the drivers of the region’s rebirth and renewal.

Together, let us seize this moment to make the Niger Delta the pride of Nigeria and the world.

Thank you.

Heirs Energies’ CEO, Osayande Igiehon discussed energy sufficiency and the future of Nigeria’s energy sector

Osayande Igiehon, Chief Executive Officer and Managing Director at Heirs Energies, emphasizes in this interview, energy sufficiency is a key concern. In this exclusive conversation, the seasoned energy sector executive takes us through the company’s vision and its role in addressing energy issues in the country and the wider African continent.  He also shares insights into key trends shaping the sector.

Interviewer: As CEO of Heirs Energies, what are your vision and key strategies, drawing from your nearly three decades of experience in the energy sector?

Mr. Igiehon: Our ambition is clearly to be one of the top five Nigerian independents that emerge as international oil companies pull out of the upstream. However, our focus is not only upstream. We are also trying to build an integrated energy company and business with a strong footing in midstream and a strong integration with power.

Beyond Heirs Energies, Heirs Holdings has an integrated energy play, which is driven, on the one hand, by our growth in the upstream and midstream sectors and, on the other hand, by power through our investments in Transcorp. So, interlinkage from hydrocarbons to power will also be a key piece of our future.

Given my 30 years in the industry, I’m building and leading Heirs Energies to be a very strong, definitive, and differentiated company in the marketplace.

There are three key elements that underpin our approach to building Heirs Energies. This approach has seen the company grow from zero to acquiring an asset with no capability and no track record in 2021 to being recognized within three years as one of the leading Nigerian independent companies with a lot of promise.

The first thing is that we have tried to build a different, value-driven company. Everything we are doing is driven by value, and it quite significantly differentiates us from the activity-driven approach predominant in the industry.

The second thing we are building is an organization with a strong ethos founded on value and what we call our winning behaviors — our winning ways of working. These ways describe how our staff turn up and approach every activity, task, or objective that they are tasked with. In this way, we are building a company that achieves outcomes that outpace any of our peers.

Thirdly, we are building a company that will be an expert in brownfield engineering. One of the dominant mindsets in the industry is a greenfield approach, where projects are new, expensive, and time-consuming. However, we are building a brownfield excellence company that focuses on old assets, maximizing their value by working faster, thinking outside the box yet maintaining safety, and ensuring that we achieve outcomes that exceed expectations in every area.

Interviewer: What role do you see Africa playing in the global energy transition? What unique opportunities or challenges does the continent face?

Mr. Igiehon: The first thing to note here is that Africa’s role in the global energy transition is one that needs a lot of consideration.

First, let me talk about the reality of Africa, the starting point of where we are today. Today, we have a significant deficiency in energy supply. Many different quotes are being given, but it suffices to say that there’s a commonality that over 50% of our energy needs are unfulfilled. Over 50% of sub-Saharan Africans, for example, live with less than 20% of their electricity requirement.

This presents a critical point for us when it comes to considering our position going forward.

How do we address this huge energy deficiency in a world that is espousing energy transition? When you consider that energy transition involves moving from a system where the predominant energy supply or consumption is through petroleum products to a global system where the energy supply and consumption is mainly electricity, it becomes a critical issue.

There is a subtext and a growing push to move the global energy system from hydrocarbons to renewables. But over the past few years, we have seen that this agenda does not fully include Africa and that Africa needs to craft its own journey in this transition. Every system would transit; the conversation is where you are transiting from and where you are transiting to. And my position is that Africa’s destination in this transition has to be energy sufficiency.

We have to be on a journey of energy sufficiency, and that should be our focus. Our focus should not necessarily be on the energy transition as popularly posited — because this presents quite a number of challenges for us. This is especially true given that the Western world is keen, for stated environmental reasons, to move the energy system from one that is dominated by hydrocarbons to one that is dominated by renewables. The recent years have shown the underbelly and the weaknesses of this popular approach and the geopolitical undertones that underpin it.

For Africa, we need to focus on how we can be energy-sufficient in the shortest period of time to power our economies and improve the lives and livelihoods of our people.

This, for me, is the key consideration. And I do believe that getting to energy sufficiency for Africa is going to be by a combination of energy sources.

We need our hydrocarbons, which we are very blessed with, and we continue to find new sources of them every day. Our energy mix will also include renewables, both traditional renewables like hydro and emerging renewables like solar, wind, and many others.

It’s very important that we envision a future where the demand is better understood, the gap is better understood, and the supply and how we fulfill it are better understood. We need a consolidated and dedicated effort to bridge this gap.

I think Africa and African countries should focus on crafting energy-sufficiency plans rather than energy transition plans. These energy-sufficiency plans should take advantage of the developments from energy transition, such as new sources of energy, and use these as accelerators to bridge the gap, rather than making the transition itself the primary objective.

Interviewer: How is Heirs Energies addressing these?

Mr. Igiehon: I think I’m very proud to say that we are a significant producer of oil and gas in Nigeria. We produce roughly 3 to 4% of Nigeria’s oil production, as well as roughly 3 to 4% of Nigeria’s domestic gas supply.

We are very proud that all of our gas goes into the domestic market, driving power plants and providing feedstock to gas-based industries. This supports lives and livelihoods, creates jobs, and supplies energy for daily use to thousands of homes and people every day.

We intend to continue growing our gas supply into the domestic market and build a midstream position that will be targeted at the Nigerian domestic market, both looking at liquids and gases. So, we are uniquely poised in line with our vision to address Africa’s energy needs. Over the years, we have been hoping to build a global-scale business that will make an impact in the energy space in Africa.

Interviewer: What are the most significant trends shaping the energy sector, and how will they impact the future?

Mr. Igiehon: There are a number of key trends at play — globally and regionally/locally. There is an interplay between them, and it will have an imprint on what we will see in the energy industry going forward.

On a global level, there are a number of key factors to consider.

For me, the first one is the energy transition. It’s a key trend. This started in the last decade with a lot of momentum around changing the energy system. There’s a deliberate drive for acceleration of the energy system from, as mentioned, one dominated by hydrocarbon supply to one dominated by renewable supply.

But recent events have toned the drive for acceleration, and there is now a more balanced view globally on the pace at which this transition will happen; what the components of the future energy supply and demand system would be; and a clarity that hydrocarbons will definitely remain as one of the key sources of supply over time.

Interlinked with and underpinning this is a growing realization and common understanding that hydrocarbons are not the problem; the problem is emissions of greenhouse gases. Now, there is a more concerted effort to look at the issue more broadly, focusing on emission elimination and reduction, as opposed to the elimination of hydrocarbons. That is going to be a key factor. So, it’s not just about energy transition but also a shift in the thinking of what underpins the energy transition.

A second point is the global geopolitical balance in the world. we’ve seen lots of posturing. We’ve seen the Russia-Ukraine war dominate the space for the past 3 to 4 years. And we are now seeing a potentially expanding theater of conflict in the Middle East with the war between Israel and the proxies of Iran.

These two conflicts have shaped the global discourse and have an imprint on energy in the past years. I think these and other geopolitical tensions — and the quest for energy security by certain regions facing the realities of declining hydrocarbon reserves — are going to shape the global energy landscape.

Thirdly, significant hydrocarbon discoveries have been made in existing and new places across the world. For example, Guyana has had huge finds, and Namibia has reported significant exploration and finds. These discoveries create a different dynamic of increased hydrocarbon supply, potentially offering hydrocarbons at cheaper rates than alternatives. This will be a key consideration for many countries as they chart the course of energy supply and energy security.

Source: Energy Utilities

Heirs Energies CEO Advocates for Energy Sufficiency and Sustainable Partnerships at the 17th German-African Energy Forum

Osa Igiehon

We are proud to share that our CEO, Osa Igiehon, recently participated in a thought-provoking panel discussion titled “Africa’s Climate Action is Gaining Momentum” at the 17th German-African Energy Forum in Hamburg, Germany.

The forum brought together key stakeholders from the energy sector to discuss Africa’s climate action, green industrialization, and the role of the private sector in driving sustainable energy transition.

During the panel, moderated by Katarina Kunert from Afrika-Verein, Osa emphasized the critical importance of achieving energy sufficiency in Africa as a foundation for sustainable development and economic growth. He highlighted our commitment at Heirs Energies to delivering more energy into the ecosystem in a manner that effectively meets the growing energy demands while minimizing the overall carbon footprint.

Osa stressed that Africa’s energy transition must be one that takes Africa from a current state of energy deficiency to a future of energy sufficiency. To him, “energy Sufficiency for Africa is a key imperative”. He posited that within the context of the global focus on achieving a low-carbon energy future to address climate concerns, we must not overlook the pressing need to address energy poverty and ensure reliable access to electricity for all Africans.”

He also shed light on our multi-energy approach at Heirs Holdings Group, spanning from gas production to power generation and distribution, which positions us to tackle Africa’s energy issues comprehensively and sustainably.

Osa highlighted our role in the Federal Government of Nigeria’s electrification drive, supplying gas to three power plants in eastern Nigeria and contributing to the journey towards a lower carbon footprint and energy sufficiency.

When asked about the kind of partnerships needed to develop Africa’s energy landscape in a future-oriented manner, Osa emphasized the importance of collaboration and the philosophy of Africapitalism, which underpins our parent company, Heirs Holdings. Africapitalism recognizes the critical role of the private sector in driving social and economic progress.

“Shared prosperity for all stakeholders are at the heart of Heirs Energies’ approach to partnerships,” Osa explained. “We believe that true partnerships should be enabling and symbiotic, rather than extractive. It should be a win-win and not win-lose, ensuring that all parties involved benefit from the collaboration.”

He further emphasized that we at Heirs Energies actively seek partnerships with governments, international organizations, and other industry stakeholders to accelerate Africa’s energy transformation. By working together, we believe that innovative solutions can be developed, investments attracted, and an enabling environment created for sustainable energy development across the continent.

The panel also featured insightful contributions from Christine Amira, Sustainability and Communications expert at WILO SE; Ross Palmer, Associate Director Energy Eurasia MEA at the European Bank for Reconstruction and Development; and Samir Rachidi, Director General of IRESEN, Morocco.

As Africa continues to gain momentum in its climate action, we at Heirs Energies remain committed to driving sustainable energy transition and forging collaborative partnerships to achieve energy sufficiency and greener industrialization across the continent.

The insights shared by our CEO, Osa Igiehon, at the 17th German-African Energy Forum underline our dedication to shaping Africa’s energy landscape for a more prosperous and sustainable future.

CEOs of Heirs Energies and Transcorp Champion Africa’s Energy Transition at the 17th German-African Energy Forum

Lagos, Nigeria – May 13, 2024Heirs Energies CEO and Transcorp Group’s President/Group CEO; Osayande Igiehon and Owen Omogiafo, OON, will join global business leaders at the 17th German-African Energy Forum in Hamburg, Germany, this week.

As leaders of one of Africa’s largest integrated energy businesses, the Heirs and Transcorp team bring a unique perspective on Africa and the opportunities in the African energy space. Heirs Holdings has rapidly implemented founder Tony Elumelu’s commitment to bring robust power supply to Africa and ensure African natural resources drive value creation in Africa.

The executives will echo Elumelu’s message to COP28 in Dubai – that equitable transition must work for Africa.  Themed “Africa’s energy roadmap: Breaking new grounds for greener economies”, Omogiafo and Igiehon will speak on panel sessions addressing Africa’s unique energy needs and the continent’s potential for green industrialisation.

Omogiafo will present recommendations for aligning off-grid and on grid solutions to boost power capacity and drive industrial growth in Africa, on her panel themed “Renewables for industrial growth”.  Transcorp is one of the largest power producers in Nigeria, and now supplies West Africa, with strategic investments in the energy sector through Transcorp Power Plc, Transafam Power, and Transcorp Energy.

Igiehon will emphasise the importance of achieving energy sufficiency in Africa, as a foundation for sustainable development and economic growth.  On his panel entitled “Africa’s Climate Action is Gaining Momentum – Green Industrialization, Climate Finance, Carbon Markets, and Policy Changes”, he will advocate for an approach that leverages Africa’s diverse energy resources, including both conventional and renewable sources, to bridge the energy access gap and provide reliable, affordable power to households, businesses, and industries.  Heirs Energies is operator of OML-17 and is a significant contributor of Nigeria’s gas supply, including to 3 power plants and is committed to providing sustainable energy solutions to address Africa energy needs.

Earlier this week, Heirs Holdings announced that its Founder, Tony Elumelu will participate in a high-level roundtable discussion at the B7 Summit in Rome on May 17, “Powering the Energy Transition for the Benefit of All”, where he will propose recommendations and priorities for catalysing energy transition that is equitable.  The B7 is the official business engagement group for the G7, a political and economic forum of seven advanced economies including Canada, France, Germany, Italy, the United Kingdom, Japan, and the United States.