Sepha Energies Limited has called for improved access to sustainable financing for indigenous oil and gas companies, warning that inadequate local funding remains one of the biggest obstacles to expanding Nigeria’s local content ambitions.

The Managing Director and Chief Executive Officer of Sepha Energies, Sandra Ekpe Agho, made the call at the 49th Nigeria Annual International Conference and Exhibition (NAICE 2026) of the Society of Petroleum Engineers (SPE) Nigeria Council in Lagos.

She said the company’s growth over the past year showed that indigenous firms can deliver world-class services when given the right opportunities and financial support.

Agho said the company has executed more than 30 upstream oil and gas projects in the last 12 months, with over 10 additional projects in the pipeline. She added that Sepha Energies is currently delivering multiple service lines across four project locations while doubling its workforce from 25 to 50 professionals since its transition from Noranova Resources.

According to her, the company’s breakthrough came with the award of a 2,000-horsepower, 10,000 PSI land drilling contract, which strengthened clients’ confidence in its technical and operational capacity.

She said: “The opportunity became much more than a contract. It became a vote of confidence in our competence. That confidence opened the doors to financing, strategic partnerships, asset acquisition, employment opportunities and greater capacity to serve the industry,” she said.

She said the confidence of clients and financial institutions enabled Sepha Energies to invest in key drilling assets, including a 2,000-horsepower, 10,000 PSI land rig, a 460-horsepower workover unit and access to a 3,000-horsepower, 15,000 PSI swamp drilling rig that can be mobilised into Nigeria within three months.

Agho said the company’s progress demonstrates what indigenous companies can achieve when entrusted with major industry opportunities but stressed that access to finance remains a major challenge.

“We cannot build indigenous capacity without indigenous capital. If local content is to reach its full potential, indigenous service companies must have access to sustainable financing that enables us to invest, innovate and compete globally,” she said.

She also disclosed that Sepha Energies had supported several Nigerian marginal field operators to achieve first oil production without demanding upfront payment, describing the approach as a demonstration of trust and collaboration aimed at growing the country’s upstream sector.

According to her, the partnerships have shown that operators, service companies, financial institutions and government agencies can work together to drive industry growth and create shared value.

Reflecting on leading one of Nigeria’s few women-owned and women-led oil and gas servicing companies, Agho said the greatest challenge was not gender but getting the first opportunity to prove capability.

Agho commended the Nigerian Content Development and Monitoring Board (NCDMB) for policies that continue to deepen local content and support indigenous companies. She equally appreciated SPE Nigeria Council for providing a platform for local firms to showcase their capabilities.

Looking ahead, she said Sepha Energies would continue to expand partnerships with global original equipment manufacturers, introduce advanced technologies into Nigeria, invest in strategic upstream assets and support the country’s energy security goals.

She maintained that Nigeria’s energy future would depend on stronger collaboration among government, financial institutions, indigenous companies, technology providers and investors.