By: Arise news

The Group Chief Executive, Oando Plc, Wale Tinubu, has underscored the urgent need for Africa to strengthen indigenous financing, deepen regional cooperation, and leverage its vast natural resources to achieve sustainable development and energy sovereignty.

Speaking in a high-profile fireside chat with the Group Publisher and Managing Director, African Business at the Intra-African Trade Fair 2025 (IATF 2025), Omar Yedder, in Algeria, Tinubu reflected on his entrepreneurial journey while outlining bold prescriptions for Africa’s energy future.

Addressing a packed audience, Tinubu described entrepreneurship as “the art of surpassing challenges,” noting that Oando’s growth story has been defined by resilience, risk management, and innovation.

“Every day we face challenges, and our success is really defined by our capacity to anticipate tomorrow’s problems, manage risk, and create solutions” a statement by the company on Wednesday quoted him as saying.

A major theme of the conversation was financing, with Tinubu highlighting the significant transformation in Africa’s financial landscape over the past two decades, with local and regional banks playing a growing role in a sector once dominated by international lenders.

He singled out the African Export-Import Bank (Afreximbank) as a catalytic force, growing from a $1 billion institution to $7 billion in assets. “Institutions like Afreximbank have become real enablers, supporting African champions with the scale of financing once reserved for multinationals” he said.

Looking ahead, Tinubu threw his weight behind the planned African Energy Bank (AEB), calling it “critical” to ensuring the continent can fund its own energy transition while addressing energy poverty.

He argued that Africa must leverage its abundant oil and gas reserves, particularly natural gas as a transition fuel, to power homes, industries, and growth, stressing that “45 per cent of Africans do not have access to electricity.”

“You can’t expect people to focus on clean energy when they’re still struggling for survival. An African energy bank can pool capital, support indigenous champions, and create a new African renaissance” he noted.

On Nigeria’s domestic reforms, Tinubu expressed optimism about the economy following bold decisions by the current administration to float the naira and remove fuel subsidies. He described the moves as courageous steps that are already attracting foreign capital, boosting government revenue, and stabilizing markets. “We are extremely bullish about the future of Nigeria. All the indices are positive” he said.

Tinubu also spoke about Africa’s barriers to intra-continental trade, from restrictive visa regimes to lack of integrated payment systems, urging leaders to prioritise the “software of integration,” and citing ease of travel and cross-border payments as small but transformative steps.

“It is archaic that it’s easier to do business in Europe than within Africa. If we are truly serious about the Continental Free Trade Area, we must address these basics” he added.

Reflecting on Oando’s growth, Tinubu said the company’s ethos rests on audacity, resilience, and global standards. “We want to do the impossible. We benchmark ourselves against the best in the world, and we keep moving forward despite the challenges” he said.