By Emmanuel Okogba

PANA Holdings has reiterated its commitment to strengthening indigenous capacity in Nigeria’s energy sector.

Chairman and Group Chief Executive Officer of PANA Holdings, Daere Afonya-a Akobo, said this in Lagos after the company emerged as Local Content Company of the Year at the 2026 Energy Times Awards held in Lagos.

The company was recognised alongside other industry players for contributions to advancing local capacity development and innovation in Nigeria’s power and petroleum sectors.

Speaking on the significance of the award, Dr. Akobo who received the award on behalf of the company, note that the recognition highlights a growing shift in the Nigerian energy landscape from participation to ownership of technology, capabilities, and execution by local firms.

He said, “the greatest treasure of a nation is not its natural mineral endowments, but its capacity to enhance and add value through disciplined execution,” underscoring the importance of building indigenous capability as a foundation for long-term growth.

For years, local content in Nigeria was often viewed through the narrow lens of regulatory compliance or basic labor provision.

However, Akobo said the recognition of PANA Holdings reflects a more advanced interpretation of the Nigerian Oil and Gas Industry Content Development Act, one that prioritizes capability development, value creation, and long-term industrial competitiveness.

He explained that the strengthening of indigenous capacity is no longer just a policy objective; but a matter of national resilience.

“By localizing complex engineering processes and advancing data-driven operations, Nigeria reduces reliance on foreign technical expertise while addressing long-standing challenges such as capital flight within the energy sector.”

Industry analysts note that companies adopting integrated models that combine technical delivery with institutional capability development are increasingly shaping Nigeria’s local content landscape.

This approach aligns with broader national objectives to reduce reliance on imports, strengthen in-country value creation, and build globally competitive expertise.

“In recent years, PANA Holdings has strengthened its position as a diversified industrial and energy solutions group, delivering integrated capabilities across engineering, infrastructure, digital transformation, and human capital development.

“Through portfolio companies such as PE Energy, AKD Consulting, and PANA Academy, it executes projects, provides technical services, and builds systems that improve efficiency, enable industrial growth, and strengthen local capacity across key sectors,” Akobo said.

Other notable awardees included Egbin Power Plc (Electricity Company of the Year) and MOMAS Group (Innovative and Technology Leadership), collectively reflecting an industry increasingly driven by home-grown innovation, technical depth, and execution capability.