Pertinent reasons have been adduced why the oil and gas businesses should leverage digital solutions to drive the growth and sustainability of the energy sector.
These reasons were given at the first edition of the Interswitch Energy Summit, held at the Oriental Hotel, Victoria Island, Lagos last week and was organized by Interswitch, a leading digital payment and commerce company.
During the event, Interswitch unveiled two new products designed to address prevailing issues within the Energy sector, enhance business development, and drive growth. The products include Forecourt Operations and Wet Stock management solutions.
Forecourt Automation and Wet Stock Management products focus on automating and optimizing wet stock operations, empowering oil and gas companies with enhanced capabilities for inventory management, sales tracking, and payment processing. The products will allow fuel station management to expand its network of retail stations and establish strategic partnerships with Oil Majors, thereby driving operational efficiency and profitability.
Also speaking at the event themed “Harnessing Digital Transformation in the Energy Sector’, Interswitch provided insights, strategies and robust opportunities for oil and gas businesses to thrive.
Delivering her opening remark, Chinyere Don-Okhuofu, Managing Director, Industry Ecosystems (Interswitch Indeco), said, “For decades, the Interswitch Group has been a beacon of innovation, spearheading digital transformation initiatives across the African continent. Interswitch Energy stands as a testament to our unwavering commitment to driving positive change and fostering prosperity on a nationwide scale.”
She further said, “With the introduction of our groundbreaking Forecourt Automation & Wet Stock Management solutions, we not only unveil products but usher in a new era of transformative growth. These innovations are more than mere tools; they are enablers of change, empowering enterprises within the energy sector with unprecedented capabilities to navigate the complexities of the modern energy landscape with agility and foresight.”
In his Keynote address, Prof. Joseph Ezigbo, Managing Director of Falcon Corporation Ltd, emphasized the need for energy companies to allocate resources for digitization initiatives accordingly to drive innovation and efficiency in the sector.
The event also featured a panel session, in which the panelists discussed how oil and gas businesses can leverage cutting-edge solutions to address the challenges in the energy sector.
The Interswitch Energy summit marks a pivotal moment in the journey towards a digitally empowered energy industry. Interswitch is committed to creating channels and platforms to foster innovation and drive positive change in the energy sector.