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Nigeria Needs Transformational Leadership to Fix Energy Sector-Prof. Omowunmi Iledare
“It is not the regulator or NNPC, it is the minister of petroleum that is actually the owner of the oil and gas industry in Nigeria in terms of policy then who is formulating the policy?”
Emeritus Professor of Petroleum Economics, LSU Centre for Energy Studies, United States of America, Omowunmi Iledare, has said that Nigeria needs a transformational leader to fix the petroleum sector.
Iledare, who is the Executive Director of Emmanuel Egbogah Foundation, spoke in Ibadan during the 2nd edition of annual lecture series of Dr. Diran Fawibe titled “Disrupting the Energy Landscape in Nigeria,” organized by the Centre for Petroleum Energy Economy and Law (CPEEL) and University of Ibadan.
He expressed worries that President Tinubu has only ministers of state rather than a substantive Minister of Petroleum, which made the Ministry of Petroleum very weak in proposing the type of policy that will take the oil and gas sector in the country to the next level.
In his words, “It is not the regulator or NNPC, it is the minister of petroleum that is actually the owner of the oil and gas industry in Nigeria in terms of policy then who is formulating the policy?”
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Iledare insisted that the essential steps towards best speed in disrupting the energy landscape in Nigeria rests on government because it is a policy issue, stating that government must set the transition agenda and perhaps in cooperation with regional allies.
He said: “Nigeria may have to look inward for the type of investment fund required for the energy mix strategy to work including petroleum and this is the essence of the new Africa Energy Bank
“There are other essential skillsets needed for an effective mixed energy strategy. This begins with having transformational leadership in the energy sector in Nigeria. Meaning transactional leadership with Esau’s syndrome must be disavowed to balance the energy landscape challenges.
“The management team must have operational control skillsets and own the capability to be an effective manager of the energy workforce.
“Energy landscape quandary calls for a rekindling of our engineering education. Energy is life, its consumption drives prosperity and sustainability.
“Nigeria must go after a robust energy mix driven purely by economics, technology, public policy, and good governance. Nigeria needs energy transition framework that balances energy security, equity, and sustainability with a transparent and accountable mindset.”
The Honouree, Dr Diran Fawibe, said that “over the years I’ve always believed that the academia and the industry must collaborate for sustainable growth in any economy.”
He said, “If you look at developed country of the world their universities use to be a center of which help them to develop in terms of research and development and also providing the industry working hand in hand to implement some of the things in the university when you look at some of the products that are being used all over the developed countries they are products of universities research that were generated.”
“So, Universities and industries must collaborate for development, it is only in our county here where we just establish universities without thinking properly on how to integrate these two areas for our development, so that we don’t have any cordial relationship we establish universities for educational purpose to teach and educate our children but the purpose of universities goes beyond that the industries must also work and fund the educational system because the industry make use of the products of the universities.”
“Government can not fund universities alone, industry must participate effectively, we know the challenges government face in this country the revenue at the moment is draining. When you pass through the gate of the universities in the 60s you know the quality, you know the standards and how they are able to concentrate on their studies.They are looking at the government to be able to sustain the quality of education but that may not happen, that is why the industries must come together to help the universities one way or the other.”
“So my objective is to bring the universities and industries together, so we can see the areas we can assist where by way of funding, research and development or providing something assistance in development of infrastructure through this kind of dialogue to advance growth and development of our country.” Diran said.
The chairman of the event, Mr Mutiu Sunmonu, in his remarks said “it is very important for Nigeria, policy makers, industries, professionals and academics to have a full understanding about energy transition and I’m so pleased that we are addressing energy disruption from the position of fact and science.”
“We need to look at capital that can be deployed to starting some of this things, energy sources in a way that could make it afford to ordinary people in the country” he concluded.