Bandele Advocates for Efficiency and Collaboration to Boost Africa’s Energy Sector
Engr. Victor Bandele, Deputy Managing Director (DMD) of Deepwater Assets, emphasized the need for increased efficiency and collaboration within Nigeria’s energy sector to enhance its competitiveness and attract more investments. He also highlighted that creating the right environment is crucial for boosting investor confidence.
Bandele shared his insights during a session on “Driving Africa’s Energy” at the Sub-Saharan Africa International Petroleum Exhibition and Conference, held on Tuesday, February 11, 2025. The session focused on how African International Oil Companies (IOCs) and independent players are navigating the complexities of the oil and gas sector, with discussions on strategic development and portfolio management. The theme of the three-day conference is Building Africa’s Future.
While expressing confidence that oil and gas would remain essential to Africa’s development, Bandele acknowledged the intensifying competition for resources within the continent and globally. “There’s significant competition happening worldwide, both within our country and across Africa,” he explained, adding that investment opportunities intended for one region could be redirected elsewhere. “We must focus on projects that drive efficiency in costs, delivery, and sustainability to remain competitive,” he urged.
In response to a commendation from the Nigeria Liquefied Natural Gas (NLNG) for TotalEnergies’ consistency in meeting its gas supply obligations, Bandele pointed out that the company had achieved zero routine gas flaring over a year ago. He also mentioned TotalEnergies’ commitment to fulfilling its obligations and expanding its capacity with the Final Investment Decision (FID) on the UBETA gas project. He noted that the swift approval of the UBETA project, shortly after an executive order providing the right incentives, demonstrated that the proper environment fosters a strong appetite for investment.
The panel, moderated by Engineer Elisabeth Rogo, CEO of Tsavo Oilfield Services Limited from Kenya, included notable industry leaders: Mr. Akeem Ariyo, Managing Director of AOS Orwell; Osayande Igiehon, Managing Director of Heirs Energies; Nnamdi Anowi, GM Production at NLNG; and Jim Swartz, Chairman & Managing Director of Chevron Nigeria, represented by Mrs. Maureen Ikenedu, General Manager of Wells at Chevron Nigeria.
Earlier in the conference, Nigeria’s Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, underscored the importance of consistency and predictability in the energy sector to attract investments and foster growth. He also stated that other African nations could benefit from Nigeria’s expertise and experience in the industry. The Minister further revealed that the African Energy Bank (AEB) would begin operations in Q1 2025, with an initial capital of $5 billion.
Attendees at the conference also visited TotalEnergies’ booth, which was prominently featured as part of the event’s exhibition.
