Eterna PLC MD, Olumide Adeosun, Spotlights Investment Prospects in Nigeria’s Downstream Energy Sector at NIES 2025
Abuja, Nigeria – The Managing Director and Chief Executive Officer of Eterna PLC, Olumide Adeosun, has outlined future investment opportunities in Nigeria’s downstream energy sector at the ongoing Nigeria International Energy Summit (NIES) 2025 in Abuja.
Speaking during a panel session on the downstream sector, Adeosun emphasized the critical role of safety and regulatory stability in attracting investments. He stressed that investors prioritize jurisdictions where the rule of law is upheld and safety protocols are non-negotiable.
“If an investor believes that the rule of law does not apply, or that safety principles are compromised in a jurisdiction, they will be hesitant to invest,” he stated.
Adeosun reflected on the sector’s trajectory, noting that modular refining and large-scale refining projects have historically been the primary focus for downstream investments. However, he highlighted that shifting energy consumption patterns and advancements in mobility are opening new frontiers for investment.
He identified Compressed Natural Gas (CNG) as a viable alternative fuel for commercial transportation, acknowledging its growing adoption. While electric vehicles (EVs) present significant potential, Adeosun pointed out that large-scale EV adoption is hampered by Nigeria’s power infrastructure limitations.
“The two-wheeler and three-wheeler commercial transport market consumes approximately 25 million liters of petrol daily, presenting a massive opportunity for electrification,” Adeosun revealed.
He called for investments in battery technology, solar-powered charging systems, and infrastructure, which could significantly reduce Nigeria’s reliance on petrol and enhance energy efficiency.
“There is a major investment opportunity in the electrification of commercial transport, particularly for those who have already invested in the necessary infrastructure,” he added.
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Adeosun reaffirmed Eterna PLC’s commitment to innovation, sustainability, and alternative energy solutions, urging stakeholders to embrace strategic investments that will shape the future of Nigeria’s downstream energy sector.
The panel session provided a platform for industry leaders to explore Nigeria’s evolving energy landscape, with discussions centered on the sector’s role in achieving energy transition goals and enhancing economic growth.
