Stakeholders in the energy industry have confirmed that consistent government policies will foster strong and sustainable investments in the sector.
Speaking at the ongoing 19th OTL Africa Downstream Energy Conference in Lagos, the operators stated that Africa countries must reposition their energy sector to respond to the realities of an energy world defined by volatility, innovation, and transformation.
Tunji Oyebanji, Chairman of the Advisory Board of OTL Africa Downstream Energy Week, stated that the global energy sector stands at a defining moment, shaped by shifting geopolitical tensions, evolving supply chains, and the accelerating march toward energy transition.
“For Africa and Nigeria, these global dynamics present both challenges and opportunities. With abundant natural resources and a young, dynamic population, he argued, Africa must now move beyond being a supplier of raw hydrocarbons to becoming a hub for innovation, efficiency, and value addition.
“Energy sustainability is not merely about preserving resources,” he said, adding that it is about building an industry that is competitive, responsible, and adaptable to a rapidly changing global environment.”
To achieve sustainable energy security and shared growth within the continent, Otunba Oyebanji called for enhanced regional integration, renewable energy adoption, and technology-driven efficiency. He emphasized the importance of human capacity development, ensuring that Africa’s next generation of professionals is equipped to drive innovation and sustain industry progress.
While operators continue to face cost pressures, supply chain challenges, and regulatory complexity, he said, the industry is also witnessing remarkable innovation in logistics, storage, digital trading, and cleaner fuel distribution. He stated that players response to the changing operating dynamics reflects signs of resilient market in the making. The key to sustaining this momentum, he stressed, lies in policy stability and regulatory predictability, which remain essential for attracting long-term capital and promoting fair competition.
He added that while competition remains vital to progress, it must be constructive, guided by fairness and shared goals.
“In this new era, collaboration becomes the new competition,” he said.
Otunba Oyebanji who is former Chairman of the Major Energies Marketers Association of Nigeria (MEMAN) made it clear that Africa must define its own path to energy sustainability through investment in infrastructure, digital systems, and capacity building.
In urging stakeholders to uphold transparency, environmental responsibility, and collaboration as guiding principles, he declared that “the downstream sector remains at the heart of Africa’s energy value chain.”
He said the growth and transformation of the industry would determine how successfully the country and the continent navigate the new era of sustainability and competition.
Also speaking, the Chief Executive Officer of OTL Downstream Development Africa Limited/Gte, Mrs Joyce Akabogu, stated that development of the downstream energy industry remains critical to achieving Africa’s economic growth.
According to her, the sector’s performance determines how citizens experience the benefits of energy policy: fuel availability, transport efficiency, or industrial productivity.
