Ownership of oil and gas assets alone cannot drive growth in Nigeria’s energy sector without the technical capacity, financing and innovation required to develop them and create economic value.
The Chairman of Sahara Group, Kola Adesina, said at the 2026 Energy Conference of the Nigerian Association of Energy Correspondents (NAEC) in Lagos.
Adesina, represented by the company’s Head of Corporate Communications, Bethel Obioma, said, the restructuring of ownership across parts of the 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.
He said the focus should not be on asset ownership alone but on how assets could be deployed to create value, strengthen local capacity, attract investment, create jobs and improve energy security.
Adesina 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 be how to create conditions that would allow more people and businesses to benefit from opportunities in the energy sector.
“Access to assets should not be viewed as an end in itself,” he said.
Adesina said Nigeria had significant energy resources, including over 37 billion barrels of proven crude oil reserves and more than 200 trillion cubic feet of natural gas reserves, but identified the ingenuity, resilience and entrepreneurial spirit of Nigerians as the country’s greatest resource.
He said government had a role to play through 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.
“What they need is an environment that enables them to succeed,” he said.
Adesina 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.
