Amanze Chinonye
The Chairman of the Petroleum Technology Association of Nigeria (PETAN), Engr. Wole Ogunsanya, FNSE, has called for stronger investor confidence, regulatory stability and deeper collaboration to unlock Africa’s energy potential as the Sub-Saharan Africa International Petroleum Exhibition and Conference (SAIPEC) marked its 10th anniversary in 2026.
Speaking at the opening of the landmark edition of SAIPEC, themed “A Decade of Driving Africa’s Energy Future,” Ogunsanya said the continent stands at a critical inflection point where investment decisions and policy choices will determine whether Africa can convert its vast energy resources into sustainable economic growth.
He described SAIPEC’s evolution over the past decade as proof of the growing maturity of Africa’s energy industry, noting that the platform has become a key marketplace for ideas, capital and partnerships across the oil, gas and broader energy value chain.
Join our WhatsApp ChannelAccording to Ogunsanya, the past 10 years have seen indigenous companies move from the margins to the centre of project delivery, driven largely by local content policies and deliberate capacity development, particularly in Nigeria.
He said African service companies now execute complex drilling, engineering, fabrication and field development projects that were previously dominated by foreign firms, positioning indigenous operators as strategic partners rather than subcontractors.
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However, Ogunsanya warned that sustaining this momentum would depend largely on the business environment. He identified access to financing, contract enforcement, predictable regulation and timely project approvals as key factors influencing investor appetite in the sector.
“Africa needs capital, and capital requires confidence,” he said, adding that transparent processes and competitive fiscal regimes remain essential to attracting long-term investment.
On the energy transition, the PETAN chairman took a pragmatic stance, stressing that Africa’s pathway must be driven by its development realities. With over 600 million people still without electricity, he said hydrocarbons would remain central to industrialisation and job creation, even as cleaner and renewable solutions are gradually integrated.
Ogunsanya highlighted gas development as a major commercial and developmental opportunity, capable of supporting power generation, industrial growth and export revenues if backed by the right infrastructure and policy support.
He also pointed to technology as a critical growth lever for the next decade, citing digitalisation, automation and data-driven operations as tools that can improve efficiency, reduce costs and enhance sustainability across the energy value chain.
Looking ahead, he urged stakeholders to shift focus from discussions to execution, emphasising the need for bankable projects, faster decision-making and stronger partnerships between governments, indigenous companies, international operators, financiers and development institutions.
As SAIPEC enters its second decade, Ogunsanya said the conference must continue to function not just as a forum for dialogue but as a deal-making platform that converts conversations into investments and measurable outcomes.
He reaffirmed PETAN’s commitment to supporting policies and partnerships that strengthen indigenous capacity, create jobs and position Africa as a competitive and reliable destination for energy investment.
Amanze Chinonye is a Staff Correspondent at Prime Business Africa, a rising star in the literary world, weaving captivating stories that transport readers to the vibrant landscapes of Nigeria and the rest of Africa. With a unique voice that blends with the newspaper's tradition and style, Chinonye's writing is a masterful exploration of the human condition, delving into themes of identity, culture, and social justice. Through her words, Chinonye paints vivid portraits of everyday African life, from the bustling markets of Nigeria's Lagos to the quiet villages of South Africa's countryside . With a keen eye for detail and a deep understanding of the complexities of Nigerian society, Chinonye's writing is both a testament to the country's rich cultural heritage and a powerful call to action for a brighter future. As a writer, Chinonye is a true storyteller, using her dexterity to educate, inspire, and uplift readers around the world.
