Indigenous Oil, Gas Companies Crucial to Nigeria’s Economy—Seplat CEO

By Adedapo Adesanya

The chief executive of Seplat Energy, Mr Roger Brown, has affirmed that indigenous oil and gas firms are crucial to Nigeria’s economy as they continually to plug the gap left by exits of their foreign counterparts.

He disclosed this at the recent 13th Annual BusinessDay CEO Forum held in Lagos, where he shared perspectives on Nigeria’s oil and gas transformation, the increasing role of indigenous companies.

Mr Brown, represented by the company’s Chief Operating Officer, Mr Samson Ezugworie, was a panelist at one of the high-level sessions with the sub-theme, Oil and Gas in Transition – Reforms, Recovery and Deals That Matter.

He noted that Seplat has been leveraging technology to enhance operations and build in-country capacity.

“If you look at the trajectory, I would personally say that the outlook is very excellent, and we are well-positioned for a transformative oil and gas industry. Nigeria is rich in both oil and gas resources, with over 200 trillion cubic feet of gas, we are in the right place.

“We are also seeing international oil companies exiting the onshore and shallow water areas and transferring them to indigenous players. We have demonstrated both the capacity and financial strength to take on these assets and run with them. It’s like the stars are aligning, the outlook is even better than what we had before,” the Seplat chief stated, pointing out the rise in rig activity as a strong indicator of sectoral growth.

“Rig count in Nigeria was 8 in 2021. Today, it stands at about 46. That tells you a lot about the level of activity, investor interest, and capital flowing back into the country. It is a strong signal of recovery and momentum in the sector,” he stated.

The company noted that its participation at the event reflects its dedication to shaping Nigeria’s energy future through responsible leadership, innovation, inclusive growth and sector transformation.

As the country navigates the path from reform to recovery, Seplat said it remains firmly committed to delivering sustainable value to stakeholders, communities, and the broader economy.

The forum featured a distinguished line-up of speakers including Mr Aliko Dangote of Dangote Group; Mr Haresh Aswani of Tolaram Group; Mr Kofo Akinkugbe of SecureID; Mr Ainojie Irune, MD of Oando Energy Resources; Mr Tony Attah, MD/CEO at Renaissance Africa Energy Company; and Mr Gbite Falade, MD/CEO at Aradel Holdings Plc.