Nigeria Must Lead Global Energy Security – Seplat CEO
Mr Effiong Okon, Chief Executive Officer, Seplat Energy Plc, has called for more collaboration, increased investment and faster gas development to help Nigeria emerge as a reliable global energy supplier amid shifting geopolitical and energy market dynamics.
Okon made the call while delivering the keynote address at the 49th Nigerian Annual International Conference and Exhibition (NAICE 2026) of the Society of Petroleum Engineers (SPE) Nigeria Council on Monday in Lagos.
He said Nigeria should leverage global energy supply uncertainties by improving production reliability, expanding gas infrastructure and strengthening investor confidence.
Speaking on the conference theme, “Thriving in the Evolving Global Energy Landscape: Collaborative Growth and Resilience”, Okon said that energy remained the foundation of economic prosperity. He added that sustainable development depends on reliable and affordable energy.
He said recent geopolitical tensions, including disruptions around the Strait of Hormuz, had reinforced the importance of energy security, with the global market increasingly seeking dependable producers capable of maintaining stable supplies during periods of uncertainty.
“The world is asking who can deliver energy reliably when the system is stressed. This is Nigeria’s moment to lead by improving uptime, securing routes, delivering more products to the market and deepening gas infrastructure.”
Okon advocated an energy transition focused on “energy addition” rather than “energy subtraction”, saying Nigeria requires more electricity, gas, responsible oil production and commercially viable renewable energy.
According to him, natural gas remains central to Nigeria’s industrialisation agenda, with the capacity to power industries, fertiliser and petrochemical plants, data centres, compressed natural gas (CNG), liquefied petroleum gas (LPG) and cleaner cooking solutions.
He said Africa’s vast energy resources would only translate into prosperity through investment in infrastructure, industrialisation and job creation.
Highlighting Seplat Energy’s performance, Okon said the company recorded an average working interest production of 131,506 barrels of oil equivalent per day in 2025, representing a 148 per cent increase over the previous year.
He added that the company restored 49 idle offshore wells, increasing gross production capacity by 48,600 barrels of oil equivalent per day.
Okon said Seplat currently supplies up to 30 per cent of Nigeria’s grid-connected gas for power generation through its Oben, Sapele and ANOH gas facilities.
He expressed confidence that the company would surpass its 2025 performance in 2026, citing strong first-half operational results.
The Seplat CEO also reaffirmed the company’s support for the Nigerian National Petroleum Company Limited’s (NNPC Ltd.) target of producing three million barrels of oil per day and 12 billion standard cubic feet of gas daily by 2030.
He urged industry stakeholders to prioritise infrastructure reliability, expand gas-to-industry projects, produce lower-cost and lower-carbon energy, strengthen public-private collaboration and invest in developing skilled professionals.
Okon commended the SPE Nigeria Council for sustaining NAICE over the past 49 years, describing it as a leading platform for technical, commercial and policy dialogue in Nigeria’s energy industry.
He noted that the keynote address coincided with his first official day in office as Seplat Energy’s Chief Executive Officer, describing it as an honour to begin his tenure before the SPE community, of which he has been a member since his university days.
Okon reaffirmed Seplat Energy’s commitment to responsible oil production, gas-led industrialisation, lower-carbon operations and partnerships that would advance Nigeria’s energy sector. #Nigeria Must Lead Global Energy Security – Seplat CEO# Seplat Profit Soars Before Handover
