Chairman of the Board of Director for Renaissance Africa Energy Company Limited, Dr. Layi Fatona (right) with Chairman & Managing Director, Chevron Nigeria Limited, Mr. Jim Swartz.
The Managing Director and Chief Executive Officer of Renaissance Africa Energy Company Limited, Mr. Tony Attah, has stated that Nigeria’s oil and gas industry is now better positioned than it has been in the last five years to fully harness the country’s vast hydrocarbon resources—thanks to transformative policy shifts implemented by the Federal Government.
Attah made this assertion during a panel session at the 50th anniversary celebration of the Nigerian Association of Petroleum Explorationists (NAPE), held in Lagos on Thursday. The event also saw Renaissance receive the Strategic Investment in Nigeria’s Energy Future award, while its Chairman, Dr. Layi Fatona, was honoured with the Industry Icon Award.
Represented by Renaissance’s Executive Vice President for Finance, Mr. Olusegun Banwo, Attah praised recent reforms, particularly the Petroleum Industry Act (PIA), the strengthening of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act, and the transformation of NNPC into a commercially driven entity.
“Today, several things have lined up well for our industry,” said Attah. “We have built a critical mass of extremely talented Nigerians across all levels of the oil and gas sector. The question now is how we leverage this to drive national progress.”
Highlighting the importance of strong institutional frameworks, Attah said the reformed NNPC now has a board and management team filled with highly experienced professionals, many from international oil companies, who are ready to collaborate with industry players.
“These are changes many of us could never have imagined,” he noted. “The challenge now is ensuring that organisations can stand up to critical scrutiny—starting with strong, credible boards, capable management, and shareholders who are focused on sustainable growth.”
On the issue of financing, Attah emphasized that the credibility of leadership is more important than assets in securing investment.
“Financial institutions don’t just invest in assets—they invest in people,” he said. “Before they commit, they examine the governance, character, and competence of the leadership. Our organisations must meet that standard.”
Attah also highlighted Renaissance’s landmark acquisition of Shell Petroleum Development Company shares in March 2025 as an example of bold and visionary leadership in the sector. He called on other players to embrace similar courage and foresight.
Speaking about the company’s mission, he added, “Renaissance is not just a name. It represents a new beginning—one that puts people, the country, and Africa first, driving energy security and industrialisation.”
NAPE President, Mr. Johnbosco Uche, said Renaissance was recognised for its significant capital investments and strategic initiatives that have helped shape Nigeria’s energy future.
“Their impact on the national energy landscape is both visible and visionary,” Uche said.
The NAPE 50th anniversary event gathered key stakeholders from across the oil and gas sector to reflect on past achievements and set the course for the future of energy in Nigeria.
