By Vera Osokpo
Stakeholders in Nigeria’s energy sector have welcomed the appointment of the Managing Director of Oando Energy Resources, Dr. Ainojie Alex Irune, to the governing board of the World Energy Council’s Nigerian Member Committee.
They described the appointment as a recognition of Irune’s experience in the indigenous energy industry and an opportunity for him to contribute to national and international discussions on the future of energy.
The governing board was inaugurated in Abuja on August 7, according to a statement issued on Tuesday. Abdulrazaq Isa, co-founder of Waltersmith Petroman Oil Limited, was appointed chairman, while Bala Wunti, a former Chief Health, Safety and Environment Officer of NNPC Limited, serves as chief executive of the committee.
Irune, who is also an Executive Director of Oando Plc, joins eight other members drawn from the energy industry, academia, government policy and the private sector. The members include Prof. Wumi Iledare, Dr. Mustapha Abdullahi, Mrs. Aisha Farida Katagum, Dr. Emmanuel Okon, Dr. Victor Ekpenyong and Dr. Imamuddeen Talba.
Nigeria became a member of the World Energy Council in April 1960, although its national participation later became inactive. The reconstituted committee is expected to provide a platform for Nigeria to contribute to global discussions on energy security, access, investment, policy and the transition to cleaner energy.
Irune’s appointment follows more than 10 years of involvement in Nigeria’s indigenous oil and gas industry. During that period, he participated in major acquisitions and helped oversee the expansion of Oando’s upstream operations.
A computer scientist by training, Irune holds a doctorate from the University of Nottingham. He began his professional career in the United Kingdom, working in technology and automotive research with companies such as Nissan, Honda and Jaguar Land Rover.
He later joined Oando, where he held positions in corporate communications, strategy and upstream operations as the company strengthened its presence in Nigeria’s petroleum industry.
In 2014, Oando completed the $1.5 billion acquisition of ConocoPhillips’ Nigerian upstream business. The transaction significantly expanded the company’s upstream portfolio, with Irune involved in the organisational transition that followed.
He later served as Oando’s Group Chief Strategy and Corporate Services Officer.
In 2024, Oando completed its $783 million acquisition of the Nigerian Agip Oil Company from Italian energy company Eni.
The transaction increased Oando’s participating interests in Oil Mining Leases 60 to 63 from 20 per cent to 40 per cent and substantially expanded its upstream operations.
As Managing Director of Oando Energy Resources, Irune led the completion of the acquisition, which marked a significant step in expanding indigenous ownership of Nigerian upstream assets.
His appointment to the World Energy Council committee comes at a time when Nigerian energy companies are assuming greater responsibility for assets previously operated by international oil companies.
That shift has increased the need for investment, technical expertise, operational efficiency and effective long-term asset management.
Irune has also participated in discussions on Africa’s energy transition, advocating policies that reflect the continent’s energy-access challenges and industrialisation needs.
He has highlighted the importance of natural gas to Africa’s development and called for greater participation by African companies in the value created from the continent’s natural resources.
The World Energy Council brings together national member committees from more than 100 countries and provides a platform for dialogue on the future of the global energy industry.
Irune will serve a two-year term on the Nigerian committee, working alongside policymakers, academics and industry executives to examine Nigeria’s energy priorities and contribute to international discussions on the sector.