Nigeria must lead global energy security – Seplat CEO

Nigeria's energy sector faces a pivotal moment as Seplat Energy Plc's chief executive officer, Effiong Okon, has called for greater collaboration, increased investment, and accelerated gas development to position the country as a reliable global energy supplier. Speaking at the 49th Nigerian Annual International Conference and Exhibition (NAICE 2026) hosted by the Society of Petroleum Engineers (SPE) Nigeria Council in Lagos, Okon emphasized the need for Nigeria to capitalize on current global energy uncertainties by enhancing production reliability, expanding gas infrastructure, and boosting investor confidence. Okon addressed the conference under the theme “Thriving in the Evolving Global Energy Landscape: Collaborative Growth and Resilience,” highlighting the critical role of energy in driving economic prosperity. He argued that sustainable development hinges on access to reliable and affordable energy, particularly in light of recent geopolitical tensions such as those affecting the Strait of Hormuz. These developments have underscored the necessity for dependable energy suppliers capable of maintaining stable output even during times of crisis. In his speech, Okon stated that the global market is increasingly looking for countries that can ensure consistent energy delivery when systems face stress. He asserted that this presents an opportunity for Nigeria to take the lead by improving operational efficiency, securing transportation routes, increasing product availability, and advancing gas infrastructure. His remarks came as part of a broader push for an energy transition strategy that focuses on adding new energy sources rather than reducing existing ones. Natural gas was identified as a cornerstone of Nigeria’s industrialization efforts, with potential applications ranging from powering industries and fertilizer plants to supporting data centers and providing cleaner cooking solutions. Okon pointed out that Africa’s substantial energy reserves could only yield long-term benefits if accompanied by investments in infrastructure, industrial growth, and employment opportunities. Seplat Energy reported robust performance metrics for 2025, achieving an average working interest production of 131,506 barrels of oil equivalent per day, a 148 percent increase compared to the prior year. The company also revived 49 previously inactive offshore wells, thereby raising its total production capacity by 48,600 barrels of oil equivalent per day. Additionally, Seplat contributes up to 30 percent of Nigeria’s grid-connected gas used for power generation via its Oben, Sapele, and ANOH gas facilities. Okon expressed optimism about exceeding these achievements in 2026, citing encouraging early-year operational outcomes. He reiterated Seplat’s backing for the Nigerian National Petroleum Company Limited’s goal of reaching 3 million barrels of oil production and 12 billion standard cubic feet of gas output annually by 2030. To achieve these objectives, Okon urged industry players to focus on infrastructure resilience, expand initiatives converting gas into industrial feedstock, develop cost-effective and low-emission energy sources, foster public-private partnerships, and invest in cultivating skilled personnel within the sector. Reflecting on his appointment as Seplat Energy’s CEO, Okon acknowledged the significance of delivering his keynote address on the first day of his tenure, noting his longstanding affiliation with the SPE community dating back to his university years. He reaffirmed Seplat Energy’s dedication to responsible oil extraction practices, promoting industrialization driven by gas, implementing lower-carbon operations, and engaging in strategic collaborations aimed at elevating Nigeria’s energy landscape.