Stanbic IBTC Breakfast Session Highlights Investment Potential In Nigeria’s Energy Sector

Stanbic IBTC Bank, a leading financial institution in Nigeria, recently hosted its pivotal Energy and Infrastructure Breakfast Session in Lagos. This event marked a significant milestone in the country’s dialogue on sustainable energy, drawing together a distinguished assembly of industry leaders, policymakers and experts.

Dr Demola Sogunle, Chief Executive of Stanbic IBTC Holdings, delivered a keynote address, offering insights into the organisation’s overarching vision and mission. He emphasised that the bank is committed to unlocking Nigeria’s vast energy potential through targeted financing interventions; fostering stakeholder collaboration and innovation.

Also speaking at the event was Engr. Antonio Ayodele who represented the Honourable Commissioner, Ministry of Energy and Mineral Resources, Lagos State, Mr Biodun Ogunleye. Engr. Ayodele emphasised the importance of enacting reforms to streamline energy processes, instigate a fundamental shift in mindset, and enhance collaboration and collective responsibility in transitioning to a renewable energy future.

Muyiwa Oni, Head of Equity Research, West Africa, at Standard Bank, emphasised Nigeria’s economic diversification and growth potential despite challenges. He highlighted opportunities for forward-looking businesses and stressed the need for excellent connectivity between businesses and untapped markets. The session also provided insights from an industry expert from Mozambique.

Edson Machel, Head of Energy and Infrastructure Finance, Investment Banking at Standard Bank, Mozambique, highlighted Mozambique’s significant reliance on renewable energy sources, which account for over 95 per cent of its energy. However, he pointed out the challenge of scaling these resources to meet the nation’s rapidly growing demands, which hinders sustainable development and energy security.

The dynamic panel discussion featured insights from industry leaders in the renewable and non-renewable energy sector including Dr. Tayo Adiatu, Managing Director and CEO, Tulcan Energy Resources; Mr. Gabriel Ogbechie, Group Managing Director, Rainoil Limited; Engr. Wole Ogunsanya, FNSE, CEO, Geoplex Drillteq Limited; Mr Ola Olabinjo, Managing Director and CEO, Skystone Finance Company Limited; Mr Hakeem Shagaya, CEO, Asolar Limited; Alhaji Abba Aliyu, Managing Director, Rural Electrification Agency (REA); Mr Damola Adeyemi, Senior Business Development Manager, West Africa Region, Odyssey Energy Limited; Mr Omotayo Hassan, Head Renewable Energy, TotalEnergies Marketing Nigeria PLC. These industry leaders and experts shared key insights on strategic ways to meet the energy demand in Nigeria in 2024 and beyond

The Stanbic IBTC Bank Energy and Infrastructure Breakfast Session was more than just a meeting of minds; it was a strategic move towards catalysing the sustainable development of Nigeria’s energy sector. The event underscored the Bank’s commitment to supporting Nigeria’s economic progress through discussions, presentations, and collaborative efforts.

To learn about the organisation’s energy and infrastructure solutions, visit Business | Stanbic IBTC Bank. For business support, email SectorSolutions@stanbicibtc.com.