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Technology investment and industry collaboration crucial for energy sector growth, says Coleman CEO
via Punch Nigeria8 min read
George Onafowokan, Managing Director and Chief Executive Officer of Coleman Technical Industries Limited, emphasized the need for increased technology investment and stronger collaboration across the oil and gas value chain. Speaking at the 25th NOG Energy Week Conference and Exhibition in Lagos, Onafowokan highlighted technology as a defining force in the global energy industry, transforming manufacturing from labor-intensive to technology-driven through automation and digital systems. He noted that Coleman's investment in technology has enabled local manufacturing of specialized products previously imported, citing the rapid design and production of a Variable Frequency Drive cable for an international oil company. Onafowokan stressed that while technology adoption can be costly, its long-term value is immense, leading to improved efficiency, increased productivity, and enhanced competitiveness. He urged stakeholders to invest in Manufacturing Execution Systems and collaborative initiatives to reduce technology adoption costs and encouraged organizations to integrate technology development into their corporate social responsibility programs to strengthen Nigeria鈥檚 industrial ecosystem.
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This summary was AI-generated from a story originally published by Punch Nigeria.
The North East Stakeholders Forum for Sustainable Development has praised President Bola Tinubu for approving an N80 billion fund for flood control interventions across Nigeria. The forum, in a statement signed by National Chairman Murtala Jalingo and Secretary-General Danladi Bawa, described the intervention as timely and crucial for mitigating flood impacts in vulnerable communities, especially with warnings of increased flood risks due to persistent rainfall. They expressed confidence that the funds would be judiciously utilized to address the threat of flash floods. The group also commended Abubakar Yelwa, Managing Director of the Hydroelectric Power Producing Areas Development Commission HYPPADEC, for his proactive measures and commitment to service delivery. They highlighted HYPPADEC's annual flood preparedness campaigns and various intervention projects in Gombe and Taraba states, including the provision of life jackets, operational boats, solar streetlights, boreholes, desilting of drainages, construction of classrooms, and support for indigent students. The forum noted that HYPPADEC, under Yelwa, has focused on improving residents' lives rather than solely on institutional development. This commendation comes as Nigerian authorities warn of severe flooding risks in low-lying and flood-prone areas due to heavy rainfall.
Nigerian economic managers, industry leaders, development partners, and business figures convened in Lagos for the 14th BusinessDay CEO Forum Nigeria 2026, themed 'From Stability to Shared Prosperity.' The event focused on transforming Nigeria's macroeconomic stability into inclusive economic growth through sustained reforms, increased private sector investment, and enhanced coordination between fiscal and monetary authorities. The Governor of the Central Bank of Nigeria, Olayemi Cardoso, and the Coordinating Minister of the Economy and Minister of Finance, Dr Taiwo Oyedele, assured investors of Nigeria's new phase of economic stability. Frank Aigbogun, Publisher and Editor-in-Chief of BusinessDay, highlighted the forum's role in policy dialogue and commended the CBN for its Central Bank of the Year Award. Dr Oyedele stated that Nigeria has successfully navigated the difficult phase of restoring macroeconomic stability and must now focus on converting these gains into inclusive prosperity. He outlined three pillars for the government's economic agenda: improving productivity, optimizing public revenue, and promoting inclusion. The government aims to measure shared prosperity through reductions in multidimensional poverty, growth in real income per capita, and declining inequality, reaffirming its commitment to building a $1 trillion economy by 2030. Dr Oyedele also noted the impact of tax reforms, including free registration for 250,000 businesses and financial support throug
Dr. Abiodun Oluseye, Rector of the Ogun State Institute of Technology OGITECH, Igbesa, reflected on the institution's 20-year journey, highlighting its growth from 52 students and two departments to over 10,000 students across 38 departments and 51 courses. He emphasized his administration's focus on development, staff welfare, and infrastructure, including modern classrooms, a new library, and a laboratory complex. Dr. Oluseye also detailed the establishment of a robotics and innovation center, where students assemble and fly drones, and the institution's commitment to providing value-added certificates alongside traditional diplomas. He stressed the importance of technical education for national development, advocating for more polytechnics and increased funding, while addressing challenges like discrimination against polytechnic graduates and land encroachment. The Rector praised the National Education Loan Fund NELFUND for its positive impact on student access to education, noting that about 200 OGITECH students have benefited, with 400 more on a waiting list. He also mentioned OGITECH's use of e-voting for student elections and a mobile application for timetables and communication, showcasing its ICT-based approach. Dr. Oluseye affirmed the institution's zero-tolerance policy against anti-social vices and lecturer misconduct, ensuring a safe and conducive learning environment.