Energy: Nigeria Needs Transformational Leader To Fix Sector – Prof Omowunmi Iledare
•••Says “Energy Is Critical For Sustainable Prosperity
•By Oyeniyi Awojoodu, Ibadan
IBADAN – The Emeritus Professor in Petroleum Economics, Professor Omowunmi Iledare has said that Nigeria as a country need a transformational leader to fix the power sector right.
Speaking in Ibadan on Wednesday, during the 2nd edition of annual lecture series of Dr Diran Fawibe, held at the CBN Building, Faculty of Economics, University of Ibadan, Prof Omowunmi Iledare who was the guest speaker at the event noted that energy is critical for sustainable prosperity, stressing that if energy is disrupted in a rapid manner the consequences could be very dire and it will take a transformational mindset to make sure we do the right thing.
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Speaking on the theme of the event, “Disrupting The Energy Landscape In Nigeria”, Professor Omowunmi, “If you look at the petroleum industry act there are three institutions that are critical for the future of oil and gas industry. One is regulation, commercial institutions then the minister which is actually a designation for the policy institution that is the weakest leg in the oil and gas industry and the president has only ministers of state not a substantive minister and that makes that ministry of petroleum very weak in proposing the type of policy that will take the oil and gas sector to the next level.”
“It is not the regulator or NNPC, it is the minister of petroleum that is actually the owner of the oil and gas industry in Nigeria in terms of policy then who is formulating the policy.”
“You need a transformational leadership, not transactional. A transactional leadership mindset you will never get what you get in Singapore when are new leader comes it doesn’t matter what the previous leaders have done the new leaders with new agenda.”
“A transactional leadership mindset does not have a shared vision but a transformation leadership mindset is anchored on shared vision you don’t need to execute it and that is the biggest challenge we have in Nigeria we don’t build on each other’s initiatives even within the university system, a new vice chancellor comes, goes a new direction that would not take us to the next level and within this energy environment and economic nexus it is a relationship you can not decouple whether you like it or not so you must guard it with respect to everything that you do.”
“There are three important things to keep in mind, which are technology, economics and public policy. Public policy requires good governance, transparency and accountability we are not there yet with what we call the public policy perception Nigeria is very low but we can improve with expect to technology.”
“Our University system has been degraded to the extent that they are not moving in the right directions in respect to disruption we need technological innovation and it begins from the university system which currently the universities is not equipped to be able to develop and when it comes to economics it is about investment.”
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“People do not invest in energy matter for corporate social responsibility the purpose of investing to develop energy for this nexus should not be decoupled, is to get reward, is about earning power of investment and it’s more or less like the alternative is there anywhere, I’m going to take money to where that will give me better reward and if the energy sector is not going to give me the type of reward I have because of the vandalism why should I go there, I invest to get money.” Professor Omowunmi said.
In his words, the Honouree, Dr Diran Fawibe, maintained that over the years I’ve always believed that the academia and the industry must collaborate for sustainable growth in any economy.
He said, “If you look at developed country of the world their universities use to be a center of which help them to develop in terms of research and development and also providing the industry working hand in hand to implement some of the things in the university when you look at some of the products that are being used all over the developed countries they are products of universities research that were generated.”
“So, Universities and industries must collaborate for development, it is only in our county here where we just establish universities without thinking properly on how to integrate these two areas for our development, so that we don’t have any cordial relationship we establish universities for educational purpose to teach and educate our children but the purpose of universities goes beyond that the industries must also work and fund the educational system because the industry make use of the products of the universities.”
“Government can not fund universities alone, industry must participate effectively, we know the challenges government face in this country the revenue at the moment is draining. When you pass through the gate of the universities in the 60s you know the quality, you know the standards and how they are able to concentrate on their studies.They are looking at the government to be able to sustain the quality of education but that may not happen, that is why the industries must come together to help the universities one way or the other.”
“So my objective is to bring the universities and industries together, so we can see the areas we can assist where by way of funding, research and development or providing something assistance in development of infrastructure through this kind of dialogue to advance growth and development of our country.” Diran said.
In his remarks, The chairman of the event, Mr Mutiu Sunmonu, siad “it is very important for Nigeria, policy makers, industries, professionals and academics to have a full understanding about energy transition and I’m so pleased that we are addressing energy disruption from the position of fact and science.”
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“We need to look at capital that can be deployed to starting some of this things, energy sources in a way that could make it afford to ordinary people in the country.” He said.