Renaissance Chair Advocates for Stricter Oversight in Mining and Energy Sectors
Dr Layi Fatona, the Chairman of Renaissance Africa Energy Company Limited, has issued a strong call for enhanced regulation within Nigeria's mining and energy sectors. He emphasized that inadequate oversight could jeopardize the nation's goals in the fast-changing global resource environment. Fatona delivered this message while accepting the prestigious NMGS/Shell Award at the 61st Annual International Conference of the Nigerian Mining and Geosciences Society, held in Uyo, Akwa Ibom State.
Honors and Recognition at the Conference
At the same event, Johnbosco Uche, Renaissance's Vice President for Exploration, was honored with the NMGS/Durotoye/COMEG Award. NMGS President Rose Ndong praised both awardees for their consistent contributions to advancing mining and geosciences in Nigeria. She highlighted that their efforts have not only spurred economic development but also reinforced professional standards across the industry.
Concerns Over Unqualified Practitioners and Enforcement
Fatona expressed deep concerns about the increasing number of unqualified practitioners and the weak enforcement of regulations in the sectors. He warned that these issues pose significant risks to environmental sustainability and could hinder long-term growth. "We are living in extraordinary times with the global energy transition accelerating and critical minerals becoming strategic assets. Nigeria must not be a spectator. We must be a strategic player and that requires competence, discipline and professional integrity," he stated.
Call for Professional Sovereignty and Expertise
He underscored the necessity of restoring what he termed "professional sovereignty", advocating that trained experts should lead industry practices while institutions ensure compliance with established standards. According to Fatona, investment alone is insufficient to drive sustainable growth without technical expertise and accountability.
Lessons from the Oil and Gas Industry
Drawing parallels with Nigeria's oil and gas sector, Fatona noted that while it has achieved a degree of maturity, it has also suffered from environmental degradation, governance failures, and diminished professional authority. He cautioned that the mining sector must learn from these mistakes to avoid similar pitfalls.
Company Commitment and Leadership
Tony Attah, Managing Director and Chief Executive Officer of Renaissance, commented that the awards reflect the company's dedication to shaping Nigeria's energy future. He added that Fatona's leadership continues to influence strategies for managing the nation's natural resources towards industrialization.
