Paul Sinclair (PS): Dr. Akobo, it’s a pleasure to have this conversation with you. You are widely recognized as a transformative leader, not just in Nigeria but across Africa. Your vision has propelled PANA Holdings into a multi-sector powerhouse. What has driven your relentless commitment to excellence and innovation?
Dr. Daere Akobo (DA): Thank you, Paul. It’s an honor to speak with you, especially in my role as advisory board member on AOW:Energy alongside Prof. Ibe Kachikwu.
For me, the driving force has always been clear – Africa must take control of its own economic destiny. Our continent is rich in both human and natural resources, but unless we lead the conversation and set the agenda, we will always be reacting instead of shaping the future. PANA Holdings was built on the foundation for innovation, investment, and African excellence across petroleum, mining, power, agri-processing, and technology.
I often say, “A dream without a deadline is a nightmare.” That philosophy has guided me as an entrepreneur, ensuring that every ambition is backed by action. But no single leader or company can drive change alone. That’s why we need a unified voice, we as Africa’s leadership must come together to accelerate upstream development and drive long-term economic impact.
PS: That’s exactly why AOW: Energy is bringing together Africa’s top leaders in Ghana this September, to chart a course for growth and prosperity. We believe upstream development must be at the heart of Africa’s energy strategy, not just for economic growth today, but to build a lasting foundation for future generations. How do you see upstream development shaping Africa’s long-term prosperity?
DA: Undoubtedly, upstream development is one of the engine rooms of economic transformation for our continent and like you, I believe we can develop our resources for the good of our continent and people. It’s not just about oil and gas; it’s about building entire value chains, creating jobs, and industrializing our economies. If we get it right, we can ensure African businesses, African talent, and African capital are at the center of our resource development.
But we must move faster. The pace at which we accelerate upstream investment will define how quickly Africa can unlock its full economic potential. We need clear implementable policies, strong collaboration between the public and private sectors, and, most importantly a shared commitment to action. That’s why I see AOW: Energy as a perfect platform for decision-makers to come together and make tangible progress.
PS: That’s a critical point. The way forward isn’t just about discussing opportunities, it’s about removing barriers and making deals happen. One of the biggest game-changers in this space is digitalization. How do you see it revolutionizing the oil and gas sector, and how can Africa leverage it to leap ahead?
DA: Digitalization is Africa’s fast track to global competitiveness. The rest of the world has already embraced AI, automation, and real-time data analysis but had the hurdle of legacy infrastructure, Africa has a hot bed of talent in innovation, and we can leapfrog those same challenges through the application of technology as a driver for economic growth. By integrating these technologies into upstream operations, we can increase efficiency, reduce costs, and minimize environmental impact.
PS: Sustainability is a major focus for AOW: Energy. We believe Africa must lead in developing low-carbon strategies that ensure more capital and partnership comes onto the continent. We can achieve both economic growth and environmental responsibility in parallel and therefore be at the front of the queue to attract investment. What’s your perspective on how decarbonization of operations can in fact increase investment and sector growth.
DA: We must be realistic and strategic. The world is transitioning, but Africa still relies heavily on hydrocarbons for energy security and economic stability. The question isn’t whether we develop our resources, but how we do it responsibly. If today, we hear America, Africa must leverage it and learn how to valorise our resources for the best interest of Africa.
Low-carbon strategies, such as carbon capture and storage (CCS), methane reduction, and flare minimization, must be given serious attention with considerations on best practices that are in line with our laws, regulations and policies. African companies need to be at the forefront of deploying technology that enhances efficiency while reducing emissions. If we take a leadership position now, we will attract investment, strengthen global partnerships, and ensure that African energy remains competitive.
PS: That’s exactly the vision AOW: Energy is committed to. We are not just convening discussions; we are uniting African leadership to lead with action, something we have always discussed and something I know you are passionate about. This year’s event in Ghana will bring together governments, investors, and industry leaders to drive investment, shape policy, and position Africa as a global energy powerhouse. Do you think this differentiates AOW and what motivated you to join the board?
DA: That’s why AOW: Energy is a platform Africa needs. It’s where leaders don’t just talk, they forge partnerships, drive innovations and actions, and create real opportunities. The future of Africa’s energy sector depends on how effectively we collaborate, innovate, and take ownership of our narratives.
PS: That shared vision is what makes AOW: Energy and PANA Holdings such strong partners. We believe Africa’s resources must translate into African prosperity. But that can only happen if we unite our voices, accelerate upstream development, and ensure that energy translates into lasting economic transformation.
DA: I couldn’t agree more, Paul. AOW: Energy is a great platform and sector movement which I am confident will bring growth in 2025 and beyond. It’s our industry and we will continue to shape Africa’s energy future and growth together. The conversations we have and the decisions we make at AOW: Energy will define the legacy of energy development on this continent.
This is Africa’s time. We must seize it, shape it, and lead it. And together, we will move the needle on upstream development and create a future where Africa’s energy resources fuel Africa’s shared prosperity.
PS: Well said, Dr. Akobo. AOW: Energy and PANA Holdings stand side by side in building an energy ecosystem that serves Africa first. We look forward to making history together at AOW: Energy 2025.
DA: Absolutely, Paul. The journey to Africa’s energy future starts NOW and it starts with us at AOW