Executive Director and Chief Finance Officer at Petralon Energy Limited, Adeola Akinrinmade, speaks about the motive behind the creation of the Future Leaders Programe and how it has enhanced technology innovation among students of tertiary institutions in developing special skills that will foster educational excellence for national development. Emma Okonji presents the excerpts:
How will you describe the Future Leaders Program (FLP) and what was the motivation for its creation?
The Future Leaders Program (FLP) is an initiative launched by Petralon Energy Limited aimed at nurturing emerging talent from Nigeria's top universities renowned for their Science, Technology, Engineering and Mathematics (STEM) programs, including the University of Port Harcourt, Federal University of Petroleum Resources - Effurun, University of Benin, University of Uyo, University of Ibadan, and my Great alma mater Obafemi Awolowo University, Ile-Ife. Our program seeks to foster educational excellence, develop leadership skills early on, promote innovative thinking, and encourage a progressive mindset in promising young Nigerians by supporting their learning journeys and equipping them with the technical and soft skills required to thrive in a dynamic energy landscape.
Petralon recognises the importance of investing in the next generation of leaders to ensure Nigeria can fully harness its energy resources sustainably. We launched the FLP as a strong advocate for shaping the future of energy in Nigeria and indeed Africa by developing local talent in a way that transcends traditional boundaries, ensuring that young talent is groomed, nurtured, and guided into becoming thought-leaders who will drive Nigeria's energy sector to new heights in the years to come.
Why did Petralon choose to champion STEM students through its FLP program and what does Petralon hope to achieve through the program?
STEM, which stands for Science, Technology, Engineering, and Mathemetics, remains a crucial foundation for economic development, especially in Nigeria, given its wealth of natural resources. However, we are alarmingly behind in progressing STEM by developing the talent and providing the platforms needed to achieve the much-needed development on the continent. It is estimated that more than 2.5 million engineers with special skills are needed in sub-Saharan Africa to address its developmental challenges. In Nigeria, where over two-third of the population are youths, the future of STEM-related sectors and the country's development at large depends on the success of these young people.
We also recognise that the energy landscape is evolving, with new technologies and methodologies emerging. The sector's sustainable evolution relies on the inclusion of individuals capable of driving it forward. A recent study shows that only 28 per cent of the developing Distributed Renewable Energy (DRE) sector consists of youth, indicating that future leaders are already being excluded from critical future solutions. Common barriers faced by youth in STEM include limited access to strategic roles, inadequate resources, underrepresentation, and marginal capacity-building opportunities.
At Petralon, we are acutely aware of the talent gap in building a sustainable pipeline of energy leaders capable of offering bold, transformational leadership in the face of future challenges. By championing STEM students, Petralon aims to address this gap. We will contribute to the sustainable development of Nigeria's energy sector by building a strong pipeline of future energy leaders. Through the FLP, we go beyond providing financial support; we invest in the participants' personal and professional growth, equipping them with leadership traits from an early stage in their development.
What impact do you expect the FLP to have on Nigeria's energy sector, particularly in nurturing young talent?
At Petralon, our operating principles are driven by values such as Excellence,
Entrepreneurship, and Agility. These principles are not just words or corporate catch phrases, they are principles, which I also personally live by; they guide how we operate daily and the initiatives we lead and support. The FLP program exemplifies this as it is geared towards creating long-term partnerships to nurture high-potential young talent, promoting excellence by motivating participants to reach their full potential, and by providing the necessary resources to enable talent to focus on developing an Entrepreneurial and Agile way of thinking that embodies innovation, bold decision-making, resourcefulness and distinguished leadership from a young age.
By supporting these youth, we hope to remove the barriers some of which I mentioned previously which they would ordinarily face and thus enable them to instead fully focus on harnessing promising and budding traits as they develop into the future leaders of the sector.
The future of energy in Nigeria is only going to be as good as those who lead it. We believe there is no better way to play a role in strengthening the sector and creating a resilient and sustainable energy sector than to invest in the very future leaders of the sector. As indigenous players in the energy space with a 10-year track-record that continues to inspire, we have persevered through it all in our pursuit of achieving our commercial and developmental interests. Our highs, lows, achievements, failures and rebounds in the sector are all testament to our growth, experience and the knowledge that we have harnessed in developing a sustainable, Nigerian firm that is able to meaningfully contribute to developing the sector.
When I reflect on what it is that has set us apart and what it is that keeps us going in a space where many have tried but most have been unsuccessful, I land on one true differentiator our people. I believe and hope that through the FLP we can impart some of our learnings and experiences to future generations, hopefully scaling some of what I believe have led to our successes and achievements.
What challenges do you foresee in developing future leaders in STEM, and how does the FLP plan to overcome them?
The key challenges in developing future leaders in STEM in Nigeria include limited access to quality education, a lack of mentorship opportunities, and low levels of female representation across STEM subjects. Additionally, financial constraints and a lack of infrastructure in many educational institutions hinder the practical training needed to excel in STEM fields.
By partnering with academic institutions, and offering access to internship placements in the industry, the program will ensure participants have access to quality resources, hands- on experience, and mentorship from seasoned professionals, the FLP will also provide financial support. Petralon is fully committed, through the FLP, to developing leaders who possess the character, grit, resilience, and excellence required to achieve their full potential and to contribute to the growth of STEM.
Why is it important for Petralon to take into consideration female representation in STEM, and how does the FLP address this?
Having navigated the Nigerian oil and gas sector for over a decade, I find that 14 years ago I was the only woman at an Operating Committee Meeting (OCM) and 14 years later, I am still frequently the only woman in meetings in the energy industry, it is proof of the great dearth of women at the table and in the pipeline; I have witnessed firsthand the critical need for increased female representation in our energy industry. The current statistics are sobering, as women make up a mere 18 per cent of Nigeria's oil and gas workforce. This imbalance becomes even more pronounced when we look at technical and leadership roles, where women account for less than 10 per cent of positions across Africa's energy sector. These figures aren't just abstract numbers; they represent a significant untapped potential in our industry.
Throughout my career, I have observed how gender diversity brings fresh perspectives and innovative solutions to complex challenges.
The Future Leader Program (FLP) intends to address this significant loss of value by tapping into a vast, underutilised pool of human capital. Studies show that gender-diverse teams are 27 per cent more likely to outperform their peers in both profitability and value creation. We are therefore shining a bright light on our female awardees that have already demonstrated a capacity for excellence, so that their success will attract younger girls who are at decision points on career choices into STEM.
How does Petralon intend to ensure that the young talent they are supporting are able to have the impact intended by the FLP?
Petralon plans to assess students throughout the program for potential internship placements in the industry. This hands-on experience will provide valuable exposure to the energy industry and offer participants a chance to apply their knowledge in real-world scenarios, while learning from the Petralon experience first-hand.
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FLP is intentionally termed 'Program' as it is intended to go beyond financial support and internships, to providing one on one mentorship designed to empower graduates to become self-starters, equipping them with the skills and confidence to secure job opportunities or even step out on their own as entrepreneurs.
We initiated this mentorship at the award ceremony whereby I spent time with the candidates getting to know each one of them and understand their individual and very diverse journey up till here, sharing my own experiences. I look forward to future engagements and a multitude of questions. The goal is to inspire future leaders to disrupt and innovate within Nigeria's energy sector, driving sustainable growth and long-term development.
What would your message be to this year's FLP beneficiaries and to those who aspire to be future FLP beneficiaries or contributors to STEM in Nigeria?
"The man who moves a mountain begins by carrying away small stones." The challenges ahead may sometimes seem like mountains--significant and, at times, seemingly insurmountable. My decade long journey at Petralon, and the Petralon story itself, is a testament to the ability to overcome adversity and significant challenges by resilience and God's Grace. It is not beyond us to build, develop, and revolutionise, but we must dare ourselves to do so and believe nothing is impossible to him or her who dares.
To the current participants of the FLP, thank you for taking the first steps of carrying away the small stones. You have shown your commitment to nurturing your potential, and at Petralon, we are encouraged by the future of the sector through your dedication to learning and the pursuit of excellence.
To aspiring participants and contributors to the sector, we encourage you to use each day to identify the small stones you can begin to carry away. In doing so, you can join Petralon's mission of developing bold, multi-talented, innovative, and ethical leaders who will champion STEM into the future.
I want to use this interview opportunity to thank all stakeholders who have helped realised our ambition to contribute to developing leadership in the sector.
