The Managing Director of Anoh Gas Processing Company (AGPC), Engr. Effiong Okon has called on young professionals in the energy sector to embrace adaptability, continuous learning, and strategic thinking to navigate industry challenges and seize emerging opportunities.
Okon, who was Keynote Speaker at the Society of Petroleum Engineers (SPE) Lagos Energy Week Young Professionals Symposium, emphasised the need for resilience in an industry undergoing rapid transformation.
He said: ‘The world around us is changing at an unprecedented pace. Technological disruptions, shifting global policies, and the drive toward sustainability are reshaping the energy landscape. Thriving in this environment requires not just acceptance of change but the ability to proactively shape it’.
The MD highlighted the shifting global energy dynamics, noting that while fossil fuels have powered economies for over a century, the future lies in a diversified energy mix.
‘The conversation today is about energy transition and sustainability. While fossil fuel reliance is gradually declining, natural gas —particularly LNG — has emerged as a critical transition fuel, and in some instances, destination fuel, with global demand expected to grow significantly in the coming decades’, he said.
He provided a snapshot of regional energy trends:
• North America and Europe: Increasing energy efficiency and renewable adoption are slowing fossil fuel demand growth.
• China and India: Rapid industrial expansion continues to drive high energy consumption.
• Africa: Despite abundant natural resources, energy access remains a critical challenge, with electricity shortages impeding economic progress.
Okon stressed that Africa must develop strategic policies and investments to capitalise on the evolving energy mix.
Despite the global shift toward cleaner energy, fossil fuels will continue to play a significant role in the energy mix for decades, according to insights from the symposium. Economic growth is slowing in major economies such as China and India, leading to evolving energy consumption patterns. China’s growth rate is projected to decline to 2.9% per year through 2050, while India’s will slow to 4.9%. Meanwhile, solar power is set to expand at an annual rate of over 8%, with renewables growing by 3-5% per year globally.
In developed economies like the United Kingdom and the United States, primary energy consumption is expected to decline, driven by advancements in energy efficiency, transportation electrification, and the widespread adoption of renewable energy. By 2050, power generation from wind and solar is projected to increase by as much as 500%. The U.S. is also expected to double its LNG exports to over 200 billion cubic meters (Bcm) by 2035 and 300 Bcm by 2050.
In Africa, economic growth is projected to average 2.6% annually through 2050, with natural gas becoming an increasingly important part of the region’s energy mix, accounting for 20% of total primary energy. While oil production is expected to decline, Africa’s demand for electricity will rise sharply, with wind and solar energy deployment accelerating. To support the continent’s energy development, the Africa Energy Bank was established in 2024 to finance key energy projects. As nations transition to a lower-carbon future, strategic investments in both fossil fuels and renewables will be critical to ensuring energy security and economic stability.
Nigeria’s vast oil and gas reserves present a significant opportunity for economic growth, but unlocking their full potential requires substantial investment and policy stability. The country holds 37.5 billion barrels of oil and condensate reserves, yet struggles to meet its OPEC production quota of 1.58 million barrels per day, with 2024 output averaging just 1.3 million barrels per day. Insecurity, policy uncertainty, and inadequate funding continue to hinder sector growth.
The energy landscape is shifting, with international oil companies divesting onshore and shallow offshore assets to indigenous players while focusing on deepwater developments. Seplat Energy, Nigeria’s leading independent energy firm, exemplifies this trend. The company produced an average of 47,525 barrels of oil equivalent per day in the first nine months of 2024 and has invested $1.6 billion in capital projects since its IPO. Its acquisition of Mobil Producing Nigeria Unlimited from ExxonMobil marks a major shift in industry ownership.
Policy reforms are in motion, with the long-awaited Petroleum Industry Bill, signed into law in 2021, introducing improved fiscal terms. Additionally, three executive orders issued in 2024 aim to incentivize gas development, strengthen local content, and streamline contracting processes. However, exploration remains at historic lows due to fiscal uncertainty, with the last deepwater bid round occurring in 2007. A new licensing round is offering 36 blocks, including seven deepwater assets that stalled in the previous cycle.
Nigeria’s gas reserves, estimated at 209.3 trillion cubic feet, remain underutilised. Of the approximately seven billion cubic feet produced daily, 38% is reinjected, flared, or used for fuel, while 37% is exported and only 25% reaches the domestic market. Infrastructure constraints have stunted growth, though the Nigeria LNG Train 7 project, which reached a final investment decision in 2019, is expected to boost exports upon its anticipated startup in 2027.
While Nigeria’s energy sector is ripe with opportunity, its future depends on attracting capital, fostering policy stability, and addressing infrastructure challenges to ensure long-term growth and value
Nigeria’s Energy Challenge and the Role of Gas
Bringing the discussion home, he underscored the pressing issue of energy access in Nigeria, where businesses and households remain heavily dependent on diesel generators.
“Research shows that over 20 gigawatts of power in Lagos State alone are generated from diesel generators rather than the national grid. This is simply unsustainable,” he noted.
He positioned natural gas as the most viable pathway to energy security and a lower-carbon future. While renewable energy sources such as solar and wind are essential, he argued that they must be complemented by stable and scalable solutions like gas-fired power generation.
To this end, AGPC is making strategic investments to enhance Nigeria’s gas infrastructure. The company is currently investing $700 million to expand its gas processing capacity, increase LPG distribution for cleaner domestic energy, and collaborate with stakeholders to improve regulatory frameworks.
Nigeria’s Oil Divestments Open New Frontiers for Local Players
A wave of divestments by international oil companies (IOCs) is reshaping Nigeria’s energy sector, shifting ownership of onshore and shallow water assets to indigenous operators. With Shell, ExxonMobil, Eni, Equinor, and TotalEnergies offloading multi-billion-dollar stakes, local firms now have a historic opportunity to take control of the country’s hydrocarbon resources. However, this transition also comes with greater environmental and governance responsibilities.
Gbenga Komolafe, CEO of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), emphasized the need for local players to step up, urging them to enhance value addition and optimize resource development. While these divestments signal confidence in Nigerian firms, they also come with stringent conditions from international investors, particularly around sustainability and regulatory compliance.
Notable deals include Shell’s $2.4 billion sale of its onshore assets to Renaissance, ExxonMobil’s $800 million sale of MPNU’s shallow water assets to Seplat, and Eni’s $800 million exit from Agip Oil Company, acquired by Oando. Equinor and TotalEnergies also sold stakes worth over $1 billion, further accelerating the industry’s shift toward indigenous operators.
As Nigeria’s oil and gas sector undergoes this transformation, the success of these deals will depend on how well local firms navigate operational challenges, regulatory expectations, and the growing global push for sustainability.
Preparing for the Future: Challenges and Opportunities for Young Professionals
Addressing the next generation of energy leaders, the MD identified key industry trends shaping career trajectories:
• Energy Transition Pressures: Companies are increasingly being held accountable for their carbon footprints.
• Technological Disruption: AI, automation, and digitalization are transforming industry operations.
• Geopolitical Uncertainties: Global conflicts and supply chain disruptions are influencing energy markets.
To build resilient careers, he advised young professionals to:
1. Leverage Technology – Stay ahead by upskilling in AI, data analytics, and automation.
2. Embrace Sustainability – Understanding Environmental, Social, and Governance (ESG) principles is now a competitive advantage.
3. Develop Business & Leadership Acumen – Beyond technical skills, strategic thinking and problem-solving abilities are crucial.
4. Be Willing to Take Risks – Innovation comes from those who challenge the status quo.
Workforce Development & Career Growth
With indigenous companies playing an increasing role in talent development, the MD emphasized the importance of a globally competitive workforce.
“The 10-20-70 rule applies here: 10% of knowledge comes from formal education, 20% from mentorship and networking, and 70% from hands-on experience. The more exposure you gain, the more proficient and adaptable you become,” he advised.
He encouraged young professionals to seek training, mentorship, and strategic partnerships to enhance their skills and career prospects.
A Call to Action
Despite economic uncertainties, the MD reiterated that Nigeria’s energy sector remains full of opportunities.
“Yes, the landscape is changing, and yes, new challenges will arise—but the fundamentals of success remain the same: adaptability, continuous learning, and innovation,” he stated.
He urged young professionals to take ownership of their careers, stay informed about industry trends, and proactively seize opportunities.
“The future belongs to those who are bold, curious, and willing to evolve. The road ahead is filled with potential, and with the right mindset, you can build a truly impactful career”, the MD concluded.
