Business
Stanbic IBTC Breakfast Session Highlights Investment Potential In Nigeria’s Energy Sector
Stanbic IBTC Breakfast Session Highlights Investment Potential In Nigeria’s Energy Sector
Stanbic IBTC Bank, a prominent financial institution in Nigeria, recently hosted a pivotal Energy and Infrastructure Breakfast Session in Lagos. This event served as a significant milestone in the country’s discourse on sustainable energy, bringing together a distinguished gathering of industry leaders, policymakers, and experts.
Dr. Demola Sogunle, the Chief Executive of Stanbic IBTC Holdings, took the stage to deliver a keynote address, shedding light on the organization’s overarching vision and mission. He underscored the bank’s dedication to unlocking Nigeria’s immense energy potential through targeted financing interventions, fostering stakeholder collaboration, and promoting innovation.
Another notable speaker at the event was Engr. Antonio Ayodele, representing the Honourable Commissioner, Ministry of Energy and Mineral Resources, Lagos State, Mr. Biodun Ogunleye. Engr. Ayodele stressed the significance of implementing reforms to streamline energy processes, catalyze a fundamental shift in mindset, and enhance collaboration and collective responsibility in transitioning towards a renewable energy future.
Muyiwa Oni, the Head of Equity Research, West Africa, at Standard Bank, highlighted Nigeria’s economic diversification and growth potential despite existing challenges. He underscored the opportunities available for forward-thinking businesses and emphasized the crucial need for robust connectivity between businesses and untapped markets.
The session also featured insights from an industry expert from Mozambique. Edson Machel, the Head of Energy and Infrastructure Finance, Investment Banking at Standard Bank, Mozambique, drew attention to Mozambique’s heavy reliance on renewable energy sources, accounting for over 95% of its energy production. However, he pointed out the challenge of scaling these resources to meet the nation’s rapidly expanding energy demands, which poses obstacles to sustainable development and energy security.
The dynamic panel discussion brought together industry leaders from both the renewable and non-renewable energy sectors, including Dr. Tayo Adiatu, Managing Director and CEO of Tulcan Energy Resources; Mr. Gabriel Ogbechie, Group Managing Director of Rainoil Limited; Engr. Wole Ogunsanya, FNSE, CEO of Geoplex Drillteq Limited; Mr. Ola Olabinjo, Managing Director and CEO of Skystone Finance Company Limited; Mr. Hakeem Shagaya, CEO of Asolar Limited; Alhaji Abba Aliyu, Managing Director of the Rural Electrification Agency (REA); Mr. Damola Adeyemi, Senior Business Development Manager, West Africa Region, Odyssey Energy Limited; and Mr. Omotayo Hassan, Head of Renewable Energy at TotalEnergies Marketing Nigeria PLC. These industry leaders and experts shared valuable insights on strategic approaches to meeting Nigeria’s energy demand in 2024 and beyond.
The Stanbic IBTC Bank Energy and Infrastructure Breakfast Session transcended being just a mere confluence of minds; it represented a strategic step towards catalyzing the sustainable development of Nigeria’s energy sector. The event underscored the Bank’s unwavering commitment to supporting Nigeria’s economic advancement through engaging discussions, informative presentations, and collaborative endeavors.
For more information on the organization’s energy and infrastructure solutions, visit the Stanbic IBTC Bank website. For business support inquiries, reach out to SectorSolutions@stanbicibtc.com. In case you missed any part of the Energy and Infrastructure Breakfast Session or wish to revisit the discussions, you can access the event playback on YouTube via the Energy and Infrastructure Breakfast Session link.
In conclusion, the Stanbic IBTC Energy and Infrastructure Breakfast Session served as a platform to delve into the investment potential in Nigeria’s energy sector, fostering dialogue, knowledge sharing, and strategic partnerships that are instrumental in propelling the nation towards a sustainable and prosperous energy future.
