Abuja, Nigeria | February 24, 2025 – Heirs Energies hosted its inaugural Petroleum Industry Leadership Dialogue at the iconic Transcorp Hilton Abuja, bringing together key stakeholders to chart Nigeria’s production growth success.
Heirs Energies, Africa’s fastest-growing indigenous integrated energy company and a subsidiary of Heirs Holdings, convened the high-level dialogue to discuss Nigeria’s oil production renaissance and future growth strategies. The forum exemplified the company’s commitment to Africapitalism – the private sector’s transformative role in driving Africa’s economic and social development through strategic, long-term investments hinged on partnership and collaboration.
Tony Elumelu, Founder and Chairman of Heirs Holdings and Chairman of Heirs Energies in his opening remarks reinforced Heirs Holdings’ vision of transforming Africa’s energy landscape through indigenous leadership and sustainable development.
Under this vision, Heirs Energies has rapidly grown its production from 27,000 to over 60,000 barrels per day of hydrocarbon.
Speaking at the forum, Minister of State for Petroleum Resources (Oil), Sen. Heineken Lokpobiri, applauded Heirs Energies for hosting this inaugural event, “Let me express our gratitude to Heirs Energies for providing this platform for meaningful industry engagement.”
The Minister announced Nigeria’s oil production had reached 1.8 million barrels per day in January 2025 and set an ambitious target of 2.5 million barrels per day for 2025.
He also reaffirmed the administration’s “drill or drop” policy to accelerate production growth.
NUPRC Chief Executive, Engr. Gbenga Komolafe, echoed similar sentiments, empahsising the dialogues significance in advancing the sectors objectives, “I thank Heirs Energies for this beautiful initiative of putting together this leadership dialogue as a commitment to achieving our national objective in the upstream sector.” He highlighted the surge in active drilling rigs to 38, with projections to reach 50 by March 2025.
First E&P’s CEO and OPEC Board of Governors Chairman for Nigeria, Ademola Adeyemi-Bero, commended the forum’s timing, noting “It’s apt. It’s early in the year and it’s about how we grow production. That’s why you see all of us participating.” He shared how indigenous operators have successfully increased production, citing his company’s achievement of 57,000 barrels per day from previously untapped fields.
Heirs Energies CEO, Osa Igiehon, reinforced this perspective, showcasing Heirs Energies’ impact in Nigeria’s onshore sector. “Our success at Heirs Energies demonstrates what’s possible in Nigeria’s onshore sector through brownfield excellence, robust security measures, and genuine community partnership,” he said. “By tripling our producing wells to about 100, we’ve shown how indigenous operators can efficiently unlock value while ensuring sustainable development of host communities.”
The dialogue affirmed Nigeria’s commitment to increasing production while maintaining environmental responsibility and leveraging gas as a transition fuel. The well-attended forum brought together key stakeholders in the oil and gas industry, including Executive Vice-President Upstream, NNPC Limited, Udobong Ntia; CEO of Seplat Energy, Roger Brown; MD of The Shell Petroleum Development Company of Nigeria Limited, Osagie Okunbor; Managing Director of Aradel Holdings, Adegbite Falade and industry veteran and founder of Platform Petroleum & Managing Director A.A Holdings, Austin Avuru, among others.
Heirs Energies Limited is Africa’s leading indigenous-owned integrated energy company, committed to meeting Africa’s unique energy needs while aligning with global sustainability goals. Having a strong focus on innovation, environmental responsibility, and community development, Heirs Energies leads in the evolving energy landscape and contributes to a more prosperous Africa.