Africa Must Lead Its Energy Future, Renaissance Chair Fatona
Renaissance Africa Energy Urges Africa to Take Ownership of Hydrocarbon Resources
October 2, 2025
Business Adviser to the Managing Director & CEO of Renaissance Africa Energy Company Limited, Mr. Chibuzor Chejieh; MD & CEO, Mr. Tony Attah; Chairman of the Board, Dr. Layi Fatona; Chief Technical Officer, Mr. Abdulrahman Mijinyawa; Executive Vice President (Finance), Mr. Segun Banwo; General Manager, Relations and Sustainable Development, Mr. Igo Weli; and General Manager, Supply Chain, Mr. Greg Akhibi… Nigeria’s Renaissance Africa Energy Company Limited leads several oil and gas firms at Africa Energy Week in Cape Town, South Africa.
In a bold call to action, Renaissance Africa Energy Company Limited has urged African nations to take full control of the continent’s hydrocarbon wealth, stressing that energy leadership is crucial for driving industrialisation and sustainable development.
“We are sitting on immense natural wealth, yet we remain dependent. This must change. Renaissance is here to ignite that change, starting from Nigeria and spreading across the continent,” declared Dr. Layi Fatona, Chairman of the Board of Directors, during a high-level panel on Frontier Plays in Mature Basins at the ongoing Africa Energy Week in Cape Town, South Africa.
Dr. Fatona emphasised the need for deeper strategic thinking and the deployment of advanced technologies to maximise existing assets.
“We must move beyond extraction to transformation. Mature basins like the Niger Delta, Sirte, and Lower Congo are not just relics—they are gateways to a cleaner, more secure energy future,” he noted.
According to him, the pathway to unlocking greater exploration and production potential in mature basins lies in innovations such as improved seismic imaging and high-capacity rigs for drilling high-pressure, high-temperature deep wells.
He further highlighted the possibility of repurposing depleted reservoirs in the Niger Delta, Sirte, and Lower Congo basins for carbon storage, thereby aligning Africa’s resource management with global decarbonisation and energy transition goals.
Dr. Fatona lamented Africa’s historical inability to convert its abundant natural resources into real development gains for its people. He urged African leaders to embrace innovative strategies, sustainable practices, and advanced technologies in order to optimise existing energy assets.
“The opportunity is here. The time is now. Let us lead our own energy revolution,” he declared.
Renaissance, formerly known as Shell Petroleum Development Company of Nigeria Limited (SPDC), is a wholly owned subsidiary of Renaissance Africa Energy Holding Company. It is the operator of Nigeria’s largest upstream joint venture, comprising NNPC Limited, TotalEnergies, and Agip Energy and Natural Resources.