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Nigerian entrepreneurs access investment opportunities in Africa’s leading energy markets
Nigerian entrepreneurs access investment opportunities in Africa’s leading energy markets
By: Michael Mike
The Invest in African Energies roadshow in Lagos – organized by the African Energy Chamber (AEC) on June 25 – united more than 250 Nigerian entrepreneurs and investors interested in accessing opportunities in Africa’s oil and gas, and energy sectors.
Nigeria is home to the largest number of indigenous service companies, which meet over 75% of service demand from Nigeria’s oil and gas industry and are set to drive Nigeria’s upstream resurgence, as well as provide technical expertise to other African oil and gas markets.
The Invest in African Energies roadshow – preceding the African Energy Week: Invest in African Energy 2024 conference in Cape Town this November – served as a strategic platform for Nigerian companies to engage with stakeholders from other countries and explore regional and Pan-African expansion opportunities.
The AEC Senior Vice President, Verner Ayukegba said: “Nigerian companies have the financial strength and expertise to take advantage of opportunities across the energy sector in Africa. We at the African Energy Chamber encourage this and see it as a win for all involved”.
He reiterated the role of the AEC to attract investment across the entire value chain in Africa, and drive investment.
AEW: Invest in African Energy
www.aecweek.com is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy.
Participating in the roadshow was Africa Global Logistics – a major logistics and port operation player, recently awarded the contract to oversee operations at Namibia’s Walvis Baymultipurpose bulk terminal, which supports oil and gas activities like rig maintenance and repair work. Namibia is currently planning a $2.1-billion port expansion project to enable oil and gas development, creating further opportunities for Nigerian and global investors.
Within West Africa, Ivory Coast is also seeking upstream investment and technical expertise from established producers like Nigeria. The country made headlines earlier this year with Eni’s discovery of light oil and gas at the Murene-1X exploration well, estimated to hold potential resources of 1.5 billion barrels of oil equivalent. Eni’s previous discovery – the Baleine field – was fast-tracked into production last August and is set to reach 200,000 barrels per day by 2027, as well as represent the first net-zero emissions project in Africa.
“Today, the biggest investor in oil and gas in the African subcontinent is Eni. They are pumping about $6 billion into Ivory Coast, and they made a discovery,” stated Dr. Nosa Omorodion, SLB Executive Director, Nigeria and West Africa, at the roadshow.
Senegal and Mozambique also hold significant demand for Nigerian oil and gas services, as two of Africa’s fastest-growing LNG markets. In Nigeria, indigenous company BUA Group is spearheading the development of a 700-ton-per-day mini-LNG project, as it seeks to expand its portfolio into the energy sector and leverage its position as one of Africa’s largest food, mining, manufacturing and industrial conglomerates.
Meanwhile, Shoreline Energy International leads a diversified asset portfolio in Nigeria, Liberia, Ghana, Uganda and Angola, focusing on EPC services for the oil and gas industry, power generation solutions, construction and ICT infrastructure. The company’s tailored power solutions could be leveraged in new markets seeking energy security and sustainable energy development.
CEO of Shoreline Energy International, Kola Karim said;“Seeing different players in the oil and gas industry in the room only confirms the value of the AEC to the sector, while building the ecosystem to support the sector”.
Nigerian full-Stream Energy exploration and production company Adelaar Energy also participated in the roadshow, advocating for enhanced gender inclusivity and advancement of women within Africa’s energy industry. Operating in engineering, procurement, consultancy and services, the female-led company is seeking to empower female energy professionals in both mature and emerging markets through training and education, mentorship programs and coaching and sponsorship opportunities, among other gender equality initiatives.
“Seeing more women collaborating in the energy sector and not being afraid to join forces with the male-dominated industry, sharing their unique perspectives and expertise to drive innovation and progress. Together, they’re breaking down barriers, shattering glass ceilings, and creating a more inclusive and sustainable energy future for all,” said Grace Orife, Adelaar Energy CEO and AEC Board Member.
Nigerian entrepreneurs access investment opportunities in Africa’s leading energy markets
MAN OF THE YEAR Award By THISDAY Newspapers/ARISE Media Group
CELEBRATING PRESIDENT BOLA TINUBU
The President/Commander in Chief of the Armed Forces of the Federal Republic of Nigeria, His Excellency, Bola Tinubu, has been announced “MAN OF THE YEAR” by THISDAY Newspapers and ARISE News Board of Editors.
The prestigious recognition reaffirmed Mr. President’s exemplary leadership, visionary thinking, and unwavering commitment to transforming the country amid mounting economic and security challenges.
The awards organisers also noted that the President has marched on with courage and determination to change Nigeria for the better, and proven to be a leader who is driven more by convictions and taken decisions which are in the best interest of the nation.
To commemorate this milestone, THISDAY is unveiling a Special Edition on Monday, January 27, 2025, to afford the President’s
aides, friends, well-wishers, and associates the opportunity to share in the joy and pride that the award brings to Mr. President through placement of Congratulatory/Goodwill messages to honour the awardee among other award recipients.
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MAN OF THE YEAR Award By THISDAY Newspapers/ARISE Media Group
Nigeria Commiserates with Türkiye Over Devastating Fire Incident
By: Michael Mike
Nigerian government has commiserated with the government and people of Türkiye over the fire incident at the Grand Kartal Hotel in the Kartalkaya Ski Resort that resulted in the death of 66 persons injured over 50 others.
The condolence message was contained in a statement signed by the acting spokesperson of the federal ministry of foreign affairs, Kimiebi Ebienfa.
The statement read: “The Federal Republic of Nigeria wishes to express deep condolence to the Government and People of the Republic of Turkiye over the unfortunate fire incident at the Grand Kartal Hotel in the Kartalkaya Ski Resort.
“The fire, which claimed the lives of 66 persons and injured over 50 others in Bolu Province in Northwestern Turkiye, was reported to have started in the early hours of Tuesday 21st January 2025.
“The Federal Government of Nigeria sympathizes with the Government of the Republic of Turkiye and the families of the victims of the fire incident, and also wishes a speedy recovery of the injured.”
Nigeria Commiserates with Türkiye Over Devastating Fire Incident
Yobe’s Commitment To Agric. Development very Impressive -Islamic Development Bank
By: Mamman Mohammed
The Islamic Development Bank has expressed satisfaction with the preparedness of Yobe state government to partner the bank for an agricultural project.
Mr. Javed khan, Senior Agriculture Specialist of the Bank stated this at a courtesy call on Governor Mai Mala Buni CON, at the Government House, Damaturu.
Khan said the commitment of Yobe state government to meeting its obligations is quite impressive and encouraging.
Khan who led a team from the bank on assessment tour of the state to see for itself the documents developed and the preparations on ground for the project, said the team was convinced with government’s committment to the project.
“We were initially discouraged not to come to Yobe state citing insecurity but, we insisted on coming and are impressed with the peace and security, and the government’s commitment to the project.
“We are working towards a target in the next three months for the state to obtain approval from the bank for the project.
“The working synergy between our team and your team suggests that we will achieve our target within the stipulated time frame” Khan said.
Responding, Governor Buni commended the Bank for not listening to the enemies of progress of the state.
“l am glad you did not listen to them, some of whom have never been anywhere close to Yobe state but giving stories about what they don’t know.
“You are now here and you have seen things for yourselves and can tell the story better. We are ready for this partnership using agriculture to drive the economy of our state and the people.
“All the 17 local government areas in the state are now accessible and the people can access their farms and make this proposed project successful” Buni said.
The Governor explained the importance of agriculture to the people, adding “this project would guarantee food security and economic prosperity in our post insurgency recovery programme.
“The resilience exhibited by our people in embracing agriculture being their major preoccupation to rebuild their lives after the protracted insecurity is very encouraging and need to be supported” he said.
The Governor re-ephasized the readiness of his administration to partner the bank to make agricultural development in the state a huge success story.
Yobe’s Commitment To Agric. Development very Impressive -Islamic Development Bank
MAN OF THE YEAR Award By THISDAY Newspapers/ARISE Media Group
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