– APPO, FG, others to drive investment in country’s energy future
Sunday Okobi
PAN Ocean and the Newcross Companies, one of the sponsors at the recent Nigerian Association of Petroleum Explorers (NAPE) Annual International Conference and Exhibition, has disclosed its readiness to promote the country’s energy future, access, and financing.
In his remarks during a panel session at the NAPE’s 43rd annual International Conference and Exhibition in partnership with Energy Institute Nigeria held at the weekend in Lagos, the Group Executive Director of Pan Ocean and Newcross Companies, Dr. Bolaji Ogundare, while expressing his delight with the 2nd Executive Management Session, disclosed the partnership between NAPE and the Energy Institute reflects a vision they share to strengthen the relevance of the Nigeria’s energy sector and drive sustainability in a rapidly changing world.
According to him, “The theme for this year’s session: ‘Financing the Future of Nigeria’s Energy Sector: Navigating Energy Transition and Driving Sustainable Development’, goes to the heart of our collective challenge: how to attract and deploy capital that sustains today’s production while enabling the cleaner, more innovative energy systems of tomorrow.”
He added that: “With the global energy transition in progress, our nation’s pathway must be pragmatic and future-focused. We must continue to optimise hydrocarbon resources while investing deliberately in gas infrastructure, renewables, and carbon-management technologies and positioning Nigeria for competitiveness and resilience over the next decade.
“Financing this balance requires more than capital. It demands credibility, competence, collaboration, and commitment. Investors must see an industry that is well-governed, transparent, and united around a clear national direction. At Pan Ocean and the Newcross Companies, we embody this collaborative approach.
“Our Group operates as one ecosystem: Pan Ocean Oil Corporation (Nigeria) Limited (Pan Ocean), the pioneer; Newcross Petroleum Limited (Newcross), the partner and collaborator; Newcross Exploration and Production Limited (NewcrossEP), the operator building capability and technical excellence; and Newcross Energy Limited and NewX, which are the integrators and innovators leading our shift toward cleaner fuels.”
Ogundare noted that in 2025, their strategy had yielded tangible results, adding that through strong technical collaboration and alignment with NNPC Limited on PMLs 55, 56, and 57, NewcrossEP achieved a 33 percent increase in production from the Ekulama-12 and Awoba NW-3 wells.
“At the Ovade-Ogharefe Gas Plant and OML 147, we are committed to reducing emissions and optimising gas monetisation, exemplifying how sustainability and operational excellence can go hand in hand. The Ovade Gas Processing Facility has achieved a production capacity of 170MMSCF/D, while OML 147 has successfully monetized its flared gas through the inauguration of the vapour Recovery Unit compressor,” he said.
The group executive director added that: “These milestones underscore our dedication to operational efficiency and highlight our growing contribution to the advancement of Nigeria’s gas value chain.
“Through NewX Energy, in partnership with others, we are investing in solar mini-grids and energy-efficiency projects that advance Nigeria’s just and inclusive transition. These efforts reflect our belief that indigenous operators must not only participate in the transition but also lead it responsibly, transparently, and with long-term commitment to national goals.”
Ogundare remarked that as an industry, Pan Ocean has the opportunity to redefine how energy is financed in Africa by linking innovation with integrity, and investment with impact.
“That is how we build confidence among financiers, regulators, and host communities alike. NAPE provides the space for this conversation, to share lessons, align policies, and shape a more sustainable and competitive energy value chain,” he stated.
The keynote speaker and Secretary to the Government of the Federation (SGF), George Akume, represented by his Technical Assistant, Prof. Bolaji Babatunde, who validated the conference as a veritable platform to fast-track the nation’s energy transition, noted the theme of the conference, was not only apt, but makes NAPE “a reliable partner in the Nigeria’s energy transition and sustainability drive.”
Akume emphasised that mobilising finance smartly is the way to go, as he revealed the federal government was collaborating with several organisations for accessible funding.
He added that Nigeria needs more investments in the oil and gas sector, regretting, however, that the country continues to face inadequate refining amid abundant resources.
According to him, “The President Bola Tinubu administration has prioritised increased energy production in line with his Renewed Hope Agenda. The federal government has taken decisive steps to sustainably position the sector.”
Speaking to journalists, the Group Financial Controller of PAN Ocean and Newcross Companies, Oluwafemi Akinyemi, at the NAPE’s 43rd conference stated that as a group of companies, the programme was a credible platform to introduce to the public as well as showcase “how we are investing in the Nigeria’s energy future and transition to ensure affordability, and also to ensure access.”
Akinyemi, in the interview, noted that: “We are deliberately contributing to energy security in Nigeria, and also to create a platform for us to further invest in the energy sector to meet national aspiration in alignment with global decarbonization efforts.
“We are also trying to look at how to contribute to the renewable energy space through partnerships and manpower capacity development.”
He continued: “To do this, we are integrating research and development into decision making and these partnerships so as to create a platform where we can increase collaboration and innovation with other players in the industry.”
In his remarks, the Chairman of the Energy Institute Nigeria, Osten Olorunsola, represented by the Head of Strategic Partnerships at the Energy Institute UK, Yewande Abiose, stated the conference aimed to promote clean energy through a just transition, emphasizing that “We promote energy efficiency and best practices.”
She announced that a flagship event will be held in London next February.
In another keynote address, Secretary-General of APPO, Dr. Omar Farouk Ibrahim, said that in order to tackle the financing challenge, his organisation and AFREXIM-Bank brainstormed on establishing the Africa Energy Bank with a proposed $100 million seed to take off soon.
Ibrahim advised the continent of Africa must not rely on the climate fund to drive its energy future.
He sought a paradigm shift, stating it is time for Africans to think outside the box.




