The Chairman of Renaissance Energy Company Limited, Dr Layi Fatona, has urged Nigeria to strengthen resilience across its natural resource sectors.
In a statement issued by the company’s spokesperson, Mr Michael Adande, in Port Harcourt on Thursday, Fatona was speaking at a 61st Conference of the Nigerian Mining and Geosciences Society, held in Uyo, Akwa Ibom.
Represented by Renaissance’s Vice-President for Exploration, Mr Johnbosco Uche, Fatona called on government and industry leaders to diversify across oil, gas, and mineral resources.
He stated that Nigeria must prepare for changes in global energy markets, shifting energy geopolitics, and economic uncertainties.
“Infrastructure must be designed to withstand economic, environmental and security shocks,” he said.
He said that Nigeria’s current challenges and the future prospects must be built within the context of an accelerating global energy transition.
Fatona argued that improving efficiency across the resource value chain was essential for growth.
He called for the elimination of redundancies, reduction of cycle times, and the improvement of recovery rates.
He added that data‑driven decision‑making was central to unlocking efficiency and gains, saying that infrastructure remains a decisive enabler of value creation.
He further called for investment in transport systems, gas networks, and processing facilities, emphasising that such investments would boost production and reduce costs.
Fatona highlighted the transformative potential of emerging technologies, including digital subsurface modelling, artificial intelligence, and automation, in improving safety, efficiency and recovery.
“Nigeria must adopt modern technologies to remain competitive globally,” he said.
He commended President Bola Tinubu for issuing executive orders aimed at strengthening the operating environment in the natural resources sector.
“The reforms demonstrate a commitment to developing Nigeria’s resource sector and improving business conditions,” he said.
The Renaissance Chairman stated that Nigeria must harness its resources and human capital to drive its industrialisation agenda.
Fatona called for stronger collaboration between government and stakeholders to promote growth and economic diversification.
