ASABA, Delta State — Leading economists, industry experts, policymakers, and traditional leaders gathered in Asaba over the weekend for a high-level colloquium marking the 70th birthday of renowned Nigerian political economist and management expert, Professor Pat Utomi. The event focused on strategies to reduce poverty in Nigeria and across Africa, with speakers highlighting investment opportunities in the oil and gas industry as a pathway to economic growth.
Organised by the Centre for Values in Leadership, the gathering brought together stakeholders from the petroleum sector, academia, government, religious institutions, and business communities. Discussions centred on economic reform, youth empowerment, and the need for Nigerians to take advantage of opportunities within key sectors of the economy.
Among the dignitaries present were the Obi of Onitsha, His Majesty Obi Alfred Achebe; Labour Party’s 2023 presidential candidate, Peter Obi; Founder and Group Managing Director of Rainoil Limited, Dr Gabriel Ogbechie; and respected petroleum industry leaders including Dr Austin Avuru, Deacon Chris Iyovwaye, and Chief Lemon Kpea. The event also attracted academics, political leaders, and operators from Nigeria’s upstream and downstream oil sectors.
The colloquium was themed “Overcoming Poverty in Africa: Did We Get It Wrong? What Next?” and featured panel discussions addressing Africa’s economic challenges, job creation strategies, and the role of entrepreneurship in national development.
Speaking during the event, Professor Utomi said he deliberately hosted part of his 70th birthday activities in Delta State to give young people access to knowledge about business and employment opportunities in the oil industry. He explained that the lecture series aimed to expose youths to practical opportunities that could help them build sustainable careers.
Utomi stressed that empowering young Nigerians with economic knowledge is essential to reducing poverty and unemployment. Reflecting on his life at 70, he attributed his achievements to the grace of God and the support of individuals who have contributed to his journey.
During a panel session on opportunities in the oil and gas sector, industry stakeholders examined investment prospects and operational challenges, drawing comparisons between Nigeria and Ghana’s petroleum industries.
Dr Gabriel Ogbechie, a production engineer and GMD of Rainoil with nearly three decades of industry experience, described the oil and gas sector as lucrative and full of opportunities for Nigerians. He advised aspiring investors to consider starting with downstream operations, which he described as the most accessible entry point into the industry.
Ogbechie also highlighted the increasing participation of Nigerian-owned companies in the downstream sector, noting that while international oil companies once dominated distribution, local entrepreneurs now control a significant portion of the market, with only a few foreign players such as Total still active.
Isaac Balami, spokesperson for the planning committee, described the event as a celebration of Professor Utomi’s leadership legacy and contributions to national development. He praised Utomi’s work in mentorship, ethical leadership, and his impact through the Centre for Values in Leadership.
The celebration concluded in Ibusa, Delta State, where supporters gathered at a Catholic Church for a thanksgiving mass in honour of Utomi’s 70th birthday. Organisers said the insights from the colloquium would continue to influence economic discussions and encourage Nigerians, particularly young people, to explore business opportunities within strategic sectors like oil and gas.
