Fatona: Human Capital Development Biggest Challenge for Local Oil Firms

Peter Uzoho 

Foremost petroleum geologist and Chairman of Renaissance Africa Energy Company Limited, Dr Layi Fatona has described human capital development as the biggest single challenge to Nigerian independent oil and gas companies, explaining that the petroleum industry does not recruit from the streets.

Fatona therefore asserted that human capital development must be the strongest platform for petroleum industry development, pointing at the urgent need to meet the country’s growing appetite for energy consumption.

Fatona stated this during a Fireside Chat  organised by Oida Energy Group at the recent Nigerian International Conference and Exhibition of the Society of Petroleum Engineers (SPE) Nigeria in Lagos.

With crew change becoming imminent in the Nigerian petroleum industry, he noted that it has become urgent for independent players to prepare for greater roles in meeting Africa’s long term energy needs.

As capacity growth strategies for sustainable petroleum industry operations may necessarily entail forging partnerships that focus on goals, Fatona advocated integrating upstream and downstream operations, developing human capital and evolving creative funding strategies.