Nigeria's Industrial Future Depends on Indigenous Capacity, Firm Declares
Dr. Daere Afonya Akobo, Chairman and Group Chief Executive Officer of PANA Holdings, has asserted that indigenous companies are pivotal to securing Nigeria's industrial future. He emphasized that national development will increasingly rely on local capacity, technology ownership, and execution excellence. This statement was made in Lagos during the 2026 Energy Times Awards, where industry leaders from the power and petroleum sectors convened to discuss emerging trends in local content development and honor excellence in Nigeria's energy industry.
PANA Holdings Honored as Local Content Company of the Year
A key highlight of the event was the recognition of PANA Holdings as the Local Content Company of the Year. The award, chosen by a panel of industry experts and the Energy Times editorial board, was accepted by Dr. Akobo. Other notable awardees included Egbin Power Plc, named Electricity Company of the Year, and MOMAS Group, acknowledged for Innovative and Technology Leadership.
Dr. Akobo explained that this award signifies a significant shift in Nigeria's energy landscape, moving from basic participation by local firms to deeper ownership of technology, execution systems, and industrial capabilities. He stressed that the true strength of any nation lies not in its natural mineral resources but in its ability to transform them into sustainable value through disciplined execution and robust indigenous capacity.
Building Competitive Local Institutions for Growth
He further noted that developing competitive local institutions is crucial for long-term industrial growth, particularly in sectors such as oil and gas, power, and infrastructure. Industry analysts observe that companies adopting integrated models, which combine technical delivery with institutional capability building, are increasingly shaping Nigeria's local content trajectory. This approach supports national goals to reduce import dependence, retain economic value, and cultivate globally competitive expertise.
PANA Holdings operates as an integrated industrial platform with interests in engineering services, advisory, technology, and workforce development. Through its subsidiaries, the group provides solutions across oil and gas, power, and industrial infrastructure, integrating project execution with systems development and human capital advancement.
