Elumelu’s Heirs Energies Holds Inaugural Petroleum Industry Leadership Dialogue
Heirs Energies, Africa’s fastest growing indigenous integrated energy company, has held its inaugural Petroleum Industry Leadership Dialogue in Abuja, bringing together public and private sector leaders to accelerate Nigeria’s production growth.
Heirs Holdings’ subsidiary, Heirs Energies, convened the forum, moderated by CEO of Heirs Energies, Osayande Igiehon.
It featured distinguished speakers including the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri; Chief Executive of NUPRC, Engr. Gbenga Komolafe; Chairman, OPEC Board of Governors and CEO, First E&P, Adewale Adeyemo-Bero; Executive Vice-President Upstream, NNPC Limited, Udobong Ntia and CEO of Seplat Energy Plc, Roger Brown.
With a new administration and ambitious oil production target critical for Nigeria’s economic growth, the Dialogue provided an avenue for private and public sector players in the energy sector to interact.
With Nigeria’s crude production growth of 25%, since May 2023, Speakers highlighted how series of Presidential Executive Orders radically reshaped the operating environment and catalysed industry growth.
This has resulted in indigenous oil and gas companies to now responsible for more than 60% of Nigeria’s crude output, while the successful indigenisation programme has been delivering a bold new chapter in Nigeria’s natural resources history.
Tony Elumelu, Founder and Chairman of Heirs Holdings and Chairman of Heirs Energies, in his opening remarks, paid tribute to the catalytic role the current government in Nigeria had played in reinvigorating the energy sector.
Elumelu also set out Heirs Holdings’ vision of transforming Africa’s energy landscape through indigenous leadership and sustainable development.
He said that Heirs Energies has in four years, rapidly grown its production from 21,000 to over 50,000 barrels per day of hydrocarbon.
Elumelu, who welcomed both public and private sector managers, emphasised the need for more stronger collaboration to guarantee further successes of indigenisation programme.
“Production growth, ambitious and sustained, is our shared national mission. I am honoured that Heirs Energies is bringing together distinguished peers from the industry and our partners in government.
“As an investor not just in resources, but in Nigeria’s power production and distribution sectors, all of us, need to come together to ensure Nigerians gets the benefits of our resources. As we build Africa’s largest integrated energy business, innovation and collaboration are central to our execution,” he pointed out.
The participants affirmed Nigeria’s commitment to increasing production, while maintaining environmental responsibility and leveraging gas as a transition fuel.
In his speech, Lokpobiri applauded Heirs Energies for hosting the inaugural forum.
“Let me express our gratitude to Heirs Energies for providing this platform for meaningful industry engagement,” the Minister said, and announced that Nigeria’s oil production had reached 1.8 million barrels per day in January 2025, and targets 2.5 million barrels per day in 2025.
He also reaffirmed the administration’s “drill or drop” policy to accelerate production growth.
The Petroleum Industry Leadership Dialogue, which will become an annual event, brought together key stakeholders in the oil and gas industry.
Among them were the Managing Director, Shell Petroleum Development Company of Nigeria Limited, Osagie Okunbor; Managing Director of Aradel Holdings, Adegbite Falade, and industry veteran and founder of Platform Petroleum and Managing Director A.A Holdings, Austin Avuru, among others.
NUPRC Chief Executive, Engr. Gbenga Komolafe, said the dialogue was significant in advancing the sectors objectives.
“I thank Heirs Energies for this beautiful initiative of putting together the Petroleum Industry Leadership Dialogue as a commitment to achieving our national objective in the upstream sector.”
He highlighted the surge in active drilling rigs to 38, with projections to reach 50 by March 2025.
Also, OPEC Board of Governors Chairman for Nigeria and CEO, First E&P, Ademola Adeyemi-Bero, commended the forum’s timing, saying “it’s apt”.
“It’s early in the year and it’s about how we grow production. That’s why you see all of us participating.”
He shared how indigenous operators have successfully increased production, citing his company’s achievement of 57,000 barrels per day from previously untapped fields.
Heirs Energies CEO, Osa Igiehon, reinforced this perspective, showcasing Heirs Energies’ impact in Nigeria’s onshore sector.
“Our success at Heirs Energies demonstrates what’s possible in Nigeria’s onshore sector, through our Brownfield Excellence Strategy, robust security measures, and genuine community partnership,” he said.
“By tripling our producing wells to over 100, we’ve shown how indigenous operators can efficiently unlock value while ensuring sustainable development of host communities.”
The Syndicate reports that the Petroleum Industry Leadership Dialogue exemplified Heirs Energies’ commitment to Mr Elumelu’s Africapitalism, the private sector’s transformative role in driving Africa’s economic and social development through strategic, long-term investments hinged on partnership and collaboration.
Heirs Energies Limited is Africa’s leading indigenous-owned integrated energy company committed to meeting Africa’s unique energy needs while aligning with global sustainability goals.
With a strong focus on innovation, environmental responsibility, and community development, Heirs Energies leads in the evolving energy landscape and contributes to a more prosperous Africa.
Heirs Energies is a key implementor of Heirs Holdings integrated energy strategy, Africa’s largest integrated energy business, whose objective is to ensure Africans benefit directly from their continent’s resources.
