The CEO of Aradel Holdings Plc, a foremost indigenous oil firm, Mr. Adegbite Falade, has raised concerns about the shortage of manpower in Nigeria’s oil and gas sector.
Speaking during a panel session at the Energy CEO Forum on Thursday, Adegbite said the industry currently lacks the necessary talent to take over from the ageing workforce.
He added that this poses a major challenge for leaders like himself, who may “struggle to retire” due to the growing difficulty in finding suitable replacements for critical roles.
“Today, one of the greatest challenges we are facing in the industry is the shortage of manpower.
“If we don’t take care, people like us will struggle to retire. Because when we look back, we don’t see the funnel,” Falade said.
Nigeria, Africa’s largest oil-producing country, is currently undergoing a transition marked by the divestment of foreign oil companies, who are moving offshore and selling onshore assets to indigenous firms.
As a result, questions have emerged about whether these new players possess sufficient manpower, skills, and expertise to take over the operations previously handled by international oil giants such as Shell and ExxonMobil.
Currently, most executives and CEOs of local firms are former top employees of these international oil companies (IOCs).
While their expertise is not in doubt, as Adegbite pointed out, the issue of succession planning—who takes over next—remains a major concern in the sector.
This is further compounded by increasing reports of professionals in the oil and gas industry migrating abroad in search of better opportunities.
The resulting brain drain has affected the availability of scientists, engineers, technicians, and other essential personnel, according to some reports.
Institutions for talent sourcing
Meanwhile, the Aradel CEO stressed the need for the industry to focus on building institutions dedicated to talent sourcing and training for the oil and gas sector.
He added that indigenous firms must begin to invest in structured succession plans to ensure the sustainability and growth of the industry.
Adegbite said continued investment in partnerships and research and development (R&D) across major Nigerian universities is crucial to long-term success.
“One key area of collaboration is us coming back to fund and sponsor training institutions that continue to produce the talents for the future, that continue to invest in R&D in partnership with universities across the country, whose outcome will benefit the industry,” he said.
