BY SAM OTUONYE
The Managing Director and Chief Executive Officer of Renaissance Africa Energy Company, Dr. Tony Attah has pledged the company’s commitment to fighting energy poverty across Nigeria and Africa.
Renaissance Energy is the firm that recently acquired the assets of Shell, a company that had operated in Nigeria’s oil and gas sector for over 60 years.
At a courtesy visit to the Minister of State for Petroleum Resources, Senator Heineken Lokpobiri, Dr. Attah emphasized that energy poverty is a major challenge on the continent, with over 600 million Africans lacking access to power.
“There’s no industrialized country that isn’t energy secure,” he said. “Our goal is to change the narrative from energy poverty to energy prosperity, starting from Nigeria. As he says energy poverty is directly tied to economic poverty.”
Dr. Attah stated that Renaissance is not just taking over Shell’s assets, but aiming to do better for Nigeria. “Shell did a lot, but it’s time Nigerians take the center stage.”
He explained that Renaissance is not replacing Shell, but rather building on its foundation with a clear goal of becoming Africa’s leading energy company. “Our ambition goes beyond Nigeria. We are here to create energy security and industrialization for Africa, starting from home.”
On the issue of divestments, Dr. Attah described the transition from Shell as a new era. “Taking over from a company that operated for over 60 years is no small task, but it’s an opportunity to lead practically and deliver real value.”
In his response, the Minister of Petroleum Lokpobiri reiterated the government’s position on divestments, describing them as a global investment practice.
“If you want to attract investment, you must allow divestment,” he said. “Nigeria cannot be an exception. The capacity of Renaissance to acquire Shell’s assets is something the whole country should be proud of.”
The Minister stressed that the time of waiting for decisions from foreign headquarters is over. “Now, decisions will be made in Lagos, Abuja, or the Niger Delta. Nigerians built Shell’s success in this country, and now it’s time for Nigerian companies to lead.”
He assured Renaissance of the government’s full support and called for a clear roadmap from the new operators. “The expectations are high, and Nigerians want to see visible changes soon. The government’s role is to create the best environment for your success, because the success of Renaissance will attract more investment into Nigeria.”
Renaissance Africa Energy Company, an indigenous oil and gas consortium, recently completed the acquisition of the Shell Petroleum Development Company of Nigeria (SPDC), following the receipt of regulatory approval. With this acquisition, Renaissance takes over SPDC’s onshore assets in Nigeria, which include oil and gas fields spread across the Niger Delta region.
The Renaissance consortium is made up of several key players in the energy sector, including ND Western Limited, Aradel Holdings Plc, FIRST Exploration and Petroleum Development Company Limited, Waltersmith Group, and Petrolin, an international energy firm.