Sahara Chairman: Asset ownership alone won’t drive energy growth
The Chairman of Sahara Group, Kola Adeshina, has said ownership of oil and gas assets alone will not drive growth in Nigeria’s energy sector without the technical capacity, financing and innovation needed to develop them.
Adeshina, represented by Sahara Group’s Head of Corporate Communications, Bethel Obioma, stated this at the 2026 Energy Conference of the Nigerian Association of Energy Correspondents (NAEC).
He said the ongoing shift in ownership across Nigeria’s energy industry, with indigenous companies taking on greater responsibilities, presented significant opportunities. However, he stressed that asset ownership must be matched with the capacity to operate and develop the assets efficiently.
“Ownership without capability creates little value. Ownership without financing limits potential. Ownership without innovation eventually loses relevance,” he said.
Adeshina said the focus should be on using energy assets to create economic value, strengthen local capacity, attract investment, generate jobs and improve energy security, rather than on ownership alone.
He noted that Nigeria was at a critical stage in its energy development, as indigenous companies and new investors take on bigger roles while technology continues to transform how energy is produced, distributed and consumed.
“Access to assets should not be viewed as an end in itself,” he said.
According to Adeshina, Nigeria has more than 37 billion barrels of proven crude oil reserves and over 200 trillion cubic feet of natural gas reserves. However, he said the country’s greatest resource remained the ingenuity, resilience and entrepreneurial spirit of its people.
“If we can unlock the full potential of our people while expanding access to opportunity across the energy value chain, the possibilities for our country are immense,” he said.
He identified the government, financial institutions, industry players and the media as key stakeholders in creating an environment that would enable indigenous businesses to grow.
Adeshina said the government must provide clear policies and regulatory certainty, while financial institutions should develop innovative financing solutions to help businesses access capital.
He also urged industry leaders to invest in talent, good governance and operational efficiency, while encouraging the media to promote informed discussions and accountability in the sector.
The Sahara chairman said Nigeria had professionals capable of solving complex energy challenges, entrepreneurs willing to invest and innovate, and young people bringing new ideas and technological skills.
“What they need is an environment that enables them to succeed,” he said.
He commended the Federal Government’s ongoing reforms, saying recent progress showed what could be achieved when policy, industry and investment worked in the same direction.
Adeshina said the success of Nigeria’s energy sector should ultimately be measured by how effectively assets are used to improve people’s lives.
“The true measure of success will not be how many assets change hands, but how many lives are transformed because those assets were put to productive use,” he said.
He urged stakeholders to focus on practical measures that would ensure the transfer and ownership of energy assets translate into economic growth and greater prosperity for Nigerians.
