Nigerian oilman Wale Tinubu gets lifetime award at Africa Energy Week as local champions gain spotlight

Wale Tinubu, the chief executive of Nigeria’s Oando Plc, received the Lifetime Achievement Award at the 2025 Africa Energy Week conference in Cape Town, highlighting the growing clout of African-owned energy firms in shaping the region’s supply.

The Africa Energy Chamber, which organizes the annual gathering of ministers, investors and operators, said Tinubu was honored for decades of work in building Oando from a fuel distributor into an integrated energy group and for “advancing Africa’s energy security through indigenous enterprise.”

From downstream trader to integrated group

Tinubu, 57, has led Oando since 2001, steering the company’s shift from a downstream oil distributor into a group spanning upstream exploration, gas and power, and trading.

His push to expand into production and infrastructure has come through asset purchases from international majors and through home-grown partnerships. The strategy helped make Oando one of a handful of African-owned companies with significant upstream exposure in the Gulf of Guinea.

The chamber said his track record of guiding the company through price swings, policy shifts and capital-market scrutiny set him apart as a “leader able to turn volatility into opportunity.”

Significance for African energy policy

By highlighting Tinubu’s role, the award signals a renewed focus on local champions in an industry still dominated by global multinationals.

In a brief acceptance speech, Tinubu called the honor “an acknowledgment of what African entrepreneurs can achieve when they combine vision with persistence.” He also urged governments and investors to prioritize domestic capacity in exploration and production, saying “energy security must be built at home.”

Industry analysts said the recognition could bolster Oando’s brand at a time when African producers are seeking capital for new projects amid the global shift toward lower-carbon energy.

Challenges remain in a shifting energy landscape

Oando still faces headwinds, including financing constraints, regulatory uncertainty in Nigeria’s oil sector and mounting pressure to accelerate investments in cleaner energy.

Tinubu said after the ceremony that the company will keep pursuing upstream growth while gradually expanding into gas and renewables to stay competitive.

The lifetime award adds to Tinubu’s reputation as one of the most prominent figures in African energy, but also underscores the responsibility he carries as the industry navigates a transition toward more sustainable sources.