Financial Energy Review
Photo L-R: Salahudeen Tahir, Society of Petroleum Engineers (SPE) Chairman, Nigeria Council 2024; Debo Fagbami, SPE Chairman Nigeria Council 2019; Chigozie Dimgba, CEO, Polaris Integrated and GeoSolutions Ltd (PIGL); Nnenna Dimgba, Executive Director, PIGL; Olalekan Olafuyi, SPE Chairman Nigeria Council 2022; & Damian Enaholo, ND Western at the PIGL 20th anniversary dinner held in Lagos recently…
The Independent Petroleum Producers Group (IPPG) has celebrated the historic appointment of Ademola Adeyemi-Bero, one of its founding members, pioneer Chairman, and Trustee, as Chairperson of the Organisation of Petroleum Exporting Countries (OPEC) Board of Governors for 2025. His confirmation as Nigeria’s OPEC Governor marks a significant milestone for Nigeria and Africa’s energy sector.
At the 2024 IPPG Annual Dinner, Dr. Layi Fatona, IPPG Board of Trustees member and Executive Vice Chairman of ND Western Limited, delivered remarks on behalf of IPPG Chairman Abdulrazaq Isa. He expressed gratitude to President Bola Ahmed Tinubu and Senator Heineken Lokpobiri, Minister of State for Petroleum Resources (Oil), for facilitating this prestigious appointment.
“This appointment is a momentous achievement for IPPG, Nigeria, and the continent, reaffirming our leadership in the global energy market,” Dr. Fatona stated. “Adeyemi-Bero’s elevation is a testament to the exceptional talent in our industry, bringing immense pride to our nation.”
Dr. Fatona raised a toast to three stakeholders: IPPG for nurturing Nigeria’s OPEC Governor and board Chairperson, the ND Western/Renaissance Africa Energy Consortium for its industry contributions, and Nigeria for producing exceptional global energy leaders.
He outlined ambitious goals for Nigeria’s energy sector, including achieving daily production targets of 4 million barrels of oil and 13 billion cubic feet of gas by 2030. Fatona emphasized the need to amend critical aspects of the Petroleum Industry Act (PIA), conclude IOC divestment transactions, sustain the “Decade of Gas” initiative, improve Niger Delta security, and upgrade infrastructure for domestic and export markets.
Fatona commended the Tinubu administration’s bold reforms, noting their positive impact on oil and gas production. “These reforms position Nigeria as a global energy leader,” he remarked.
As IPPG looks toward a transformative year, Fatona reaffirmed the group’s commitment to energy security and socio-economic stability. The evening ended with a celebratory toast to Nigeria’s strides in the energy sector and collective commitment to national success.
The dinner also witnessed the delivery of a paper titled “Optimising Value from the Nigerian Oil & Gas Industry for Economic Transformation and Sustainable Growth” by renowned Economist, Dr. Adedoyin Salami.
