June 18, 2026/Caritas PR
Africa’s growing importance in the global energy landscape will depend not only on its abundant natural resources but also on its ability to build indigenous capacity, deploy technology, and create globally competitive enterprises capable of driving sustainable industrial growth.
This was a central theme at the 2026 Society of Petroleum Engineers (SPE) Africa Technology Conference, as industry leaders focused on how innovation, skills development, local content, and regional collaboration can strengthen Africa’s position within the evolving global energy value chain.
Speaking during a high-level panel session on “Building African Capacity: Local Content, Skills and Industrial Development” on June 16, 2026, Dr. Bolaji Ogundare, Group Executive Director of Pan Ocean/Newcross Petroleum, argued that while Africa has made remarkable progress in increasing indigenous participation across the energy sector, the continent’s next challenge is transforming participation into capability ownership.
The session, moderated by Onyeka Cindy Ojogbo, CEO/Managing Partner of CLG, also featured prominent industry leaders, including Bankole Adeate, Country Managing Director of Baker Hughes Côte d’Ivoire; Ms. Cany Jobe, Director General of The Gambia Petroleum Commission; Hugues Yapo, Country Managing Director of Halliburton Côte d’Ivoire; and Engr. Emeka Ene, Chief Executive Officer of Oildata Inc.
Drawing on Nigeria’s experience, Dr. Ogundare said: “Africa has made significant progress in increasing indigenous participation across the energy value chain. We now see more African-owned companies, greater local workforce representation, and stronger policy frameworks supporting local content.”
Presenting data-heavy insights, he noted that Nigeria’s upstream sector has expanded from fewer than 10 operating companies in 2010 to 117 today, while service companies have grown to 11,764, with indigenous participation increasing from less than five per cent to more than 60 per cent. Collectively, these companies have generated more than 141,000 direct jobs across the industry.
However, he emphasised that participation is no longer enough. “The most critical gap remains the transition from participation to capability ownership. Too often, local content is measured by compliance metrics rather than the development of sustainable industrial capacity, technology ownership, and globally competitive enterprises,” he added.
According to him, Nigeria’s experience under the Nigerian Oil and Gas Industry Content Development (NOGICD) Act demonstrates that policy consistency can significantly improve indigenous participation. Yet, he warned that the next phase of growth requires a broader industrial strategy built on technology, financing, skills development, and institutional strengthening.
“The key lesson is that local content should be treated as an industrial development strategy, not merely a procurement requirement. Sustainable success comes from combining strict regulation with long-term investments in technical skills, financing, technology and knowledge transfer, and institutional capacity,” he submitted.
For Dr. Ogundare, innovation and infrastructure development are critical pillars of the transformation across the continent.
“At Pan Ocean and Newcross, projects such as the 160,000bopd Amukpe Escravos Pipeline (AEP) and our partnership at the 200mmscf/d Ovade-Ogharefe Gas Processing Plant demonstrate how indigenous participation can evolve from service delivery to operational value creation. When local companies help build and operate critical energy infrastructure, the benefits extend beyond the sector to job creation, energy security and broader economic development.”
Looking beyond national borders, Dr. Ogundare described the African Continental Free Trade Area (AfCFTA) as a transformative opportunity to reposition local content as a continental industrial agenda rather than a purely domestic policy objective.
“The AfCFTA provides a historic opportunity to expand local content from a national agenda to a continental industrial strategy,” he said. “African countries should focus on developing complementary capabilities, integrated regional supply chains, and cross-border partnerships that allow indigenous businesses to achieve genuine scale,” he concluded.
