Chairman and Group Chief Executive Officer of PANA Holdings, Dr. Daere Afonya Akobo, has said indigenous companies are central to securing Nigeria’s industrial future, noting that national development will increasingly depend on local capacity, technology ownership, and execution excellence.

He stated this in Lagos at the 2026 Energy Times Awards where industry leaders from across the power and petroleum sectors gathered to discuss emerging trends in local content development and recognise excellence in Nigeria’s energy industry.

A major highlight of the event was the emergence of PANA Holdings as the Local Content Company of the Year.

The award, selected by a panel of industry experts and the Energy Times editorial board, was received by the Chairman and Group Chief Executive Officer, Dr. Daere Afonya Akobo.

Other notable winners at the event included Egbin Power Plc, which emerged as Electricity Company of the Year, and MOMAS Group, recognised for Innovative and Technology Leadership.

Akobo said the recognition reflects a growing shift in Nigeria’s energy landscape from basic participation by local firms to deeper ownership of technology, execution systems, and industrial capabilities.

Speaking on the significance of the award, he said the true strength of any nation lies not in its natural mineral resources but in its ability to convert them into sustainable value through disciplined execution and strong indigenous capacity.

He noted that building competitive local institutions remains critical to long-term industrial growth, particularly in sectors such as oil and gas, power, and infrastructure.

Industry analysts say companies adopting integrated models that merge technical delivery with institutional capability building are increasingly defining Nigeria’s local content trajectory.

This approach aligns with national objectives to reduce import dependence, retain value within the economy, and develop globally competitive expertise.

The firm operates as an integrated industrial platform with interests spanning engineering services, advisory, technology, and workforce development.

Through its subsidiaries, the group delivers solutions across oil and gas, power, and industrial infrastructure, combining project execution with systems development and human capital advancement.