Peter Uzoho

Stakeholders in the Nigerian oil and gas sector joined Falcon Corporation Limited, one of Nigeria’s leading indigenous gas companies to celebrate the legacy, career, and leadership of the company’s Co-Founder and Pioneer Managing Director, Prof. Joseph Ezigbo, who retired after 31 years of distinguished service at Falcon.

At a special ceremony held in Lagos, recently, leaders from the oil and gas and banking sectors, colleagues, former students, family, and friends took turns to honour Ezigbo’s career marked by academic excellence, visionary leadership, and national impact.

Ezigbo, a former lecturer and Professor at the University of Nigeria, Nsukka (UNN), co-founded Falcon Corporation Limited with his wife, Audrey, in 1994.

Under his leadership, the company evolved into a respected force in Nigeria’s gas sector, delivering energy solutions that power homes, industries, and businesses nationwide.

Widely regarded as a “Gas Man to the Core,” Ezigbo has spent five decades excelling in both academia and business.

He holds a BSc from the University of Nigeria, Nsukka, a DIC and MSc from Imperial College London, and a PhD from the University of Salford, Manchester.

He taught for 25 years at the University of Nigeria, mentoring generations of students and serving in key leadership roles.

His contributions have earned him several honours, including Ernst & Young Entrepreneur of the Year West Africa (2014) and Anambra Man of the Year (2025).

Speaking at the event, Co-founder and Chief Executive Officer of Falcon Corporation Limited, Audrey Joe-Ezigbo described her husband’s leadership as transformative.

She noted that celebrating Prof. Ezigbo was “recognition of his years of service and the enduring standards he established — standards of excellence, accountability, and people-centred leadership that will continue to guide Falcon as it moves confidently into the next phase of our growth and transformation. His legacy is one that will remain a reference point for leadership within this organisation for years to come.”

At the event, a retired Nigerian career diplomat and former Ambassador to Mozambique, Ambassador Ozo Nwobu paid tribute to Prof. Ezigbo’s human-centred leadership.

He described him as a rare blend of professionalism and genuine connection, adding that his career demonstrates that true leadership is measured by lives touched and relationships built.

“Professor Ezigbo exemplifies leadership rooted in service, empathy, and integrity, leaving an imprint that extends far beyond titles and positions,” Nwobu said.

Others guests shared heartfelt tributes reflecting Ezigbo’s mentorship and influence across sectors, praising his ethical leadership and lasting contributions to Nigeria’s energy industry.

Beyond corporate and academic achievements, they said his philanthropy continues to create opportunities for young Nigerians.

Overall, the ceremony was a celebration of tenacity, integrity, and purpose, underscoring the enduring impact of Ezigbo’s work across academia, industry, and society.

According to the guests, his legacy stands as a lasting testament to leadership, service, and nation-building.

Peter Uzoho

TotalEnergies Marketing Nigeria Plc has launched the TotalEnergies Mobility Card Plus (TEMC+), a next-generation mobility and payment solution designed to deliver enhanced convenience, security and operational control for customers across Nigeria.

The product was officially unveiled in Lagos, with the company describing TEMC+ as a major upgrade aimed at meeting the evolving mobility and payment needs of both individual users and businesses.

According to the company, TEMC+ introduces a range of digitally enabled features, including secured online transactions, mobile application integration for real-time account monitoring, pre-authorisation to ensure accurate fuel dispensing, instant SMS alerts for fleet managers, virtual card functionality, and instant card updates with on-the-spot fund reallocation for prepaid accounts.

With these capabilities, TotalEnergies said TEMC+ establishes a new standard in mobility card services, offering improved transparency, stronger security architecture and greater efficiency in fleet and payment management.

Speaking at the launch, the Managing Director of TotalEnergies Marketing Nigeria Plc, Dr Samba Seye said the introduction of TEMC+ reflects the company’s long-standing commitment to innovation and customer-centric solutions.

“TEMC+ is more than just a mobility card; it is a technology-driven platform designed to simplify operations and enhance customer experience.

“With this solution, we are delivering greater convenience, control and security to both individual customers and businesses of all sizes,” Seye said.

He noted that the launch underscores TotalEnergies’ drive to align its mobility and payment solutions with the demands of the digital economy, adding that TEMC+ combines innovation, transparency and efficiency in one integrated platform.

Seye explained that the launch event featured live demonstrations of the card’s new capabilities, guided sessions on digital account management and direct engagement with mobility and payment experts to support customers through the transition process.

He further disclosed that the nationwide migration from existing mobility cards to the new TEMC+ platform is already underway and is expected to be completed by December 31, 2025.

TotalEnergies said the introduction of TEMC+ reinforces its broader vision of enhancing the mobility experience for Nigerians through reliable, secure and future-ready solutions that support everyday consumers as well as business operators across the country.

Peter Uzoho

The Sahara Group Foundation (SGF), the social impact arm of Sahara Group, has awarded over $130,000 to 20 outstanding African Extrapreneurs under its flagship Sahara Impact Fund (SIF) Cohort 4 and Making A Difference Around Africa (MADAA) initiatives.

Extrapreneurship is a developing concept that broadly refers to driving innovation by leveraging external collaboration and resources. It extends the traditional ideas of entrepreneurship (starting a new venture) and intrapreneurship (innovating within an existing company).

The awards were presented to the beneficiaries at the Foundation’s gala & award night held in Lagos, tagged, “A Night of Orchestral Conversations, Golden Moments, and the Quiet Magic That Happens When Brilliance Gathers Under One Roof”.

For nearly two decades, the Foundation has been a catalyst for sustainable development across Africa, investing in programmes that advance entrepreneurship, environmental stewardship, innovation, and community transformation.

The 2025 editions of the SIF and MADAA programmes were re-engineered in response to insights from previous cycles, which revealed a widening gap between early-stage innovation and market entry in Africa.

By deliberately aligning MADAA and SIF, the Foundation has built a streamlined innovation pipeline designed to eliminate barriers, strengthen capacity, and ensure sustainability well beyond the life of the grants.

“Our focus goes beyond disbursing grants,” Programme Supervisor, Sahara Group Foundation, David Ayinde, said during the Awards and Gala Night.

In her remarks, Director, Sahara Group Foundation, Chidilim Menakaya, said: “We have built a capacity development and business advisory framework that equip our Extrapreneurs with business intelligence, financial strategy, governance discipline, and commercial readiness to scale their solutions sustainably across African markets.

“By reinventing the Sahara Impact Fund and elevating the MADAA programme, we are closing the loop between discovery, support, and scale,”

She noted that these enhancements reflect the foundation’s commitment to identifying high-potential changemakers and innovators, equipping them with the right skills, and creating real pathways for them to grow sustainable solutions.

“Ultimately, this integrated approach ensures that promising Extrapreneurs have a clear, structured, and fully supported route to delivering measurable impact across their communities”,
Menakaya.

Charging the awardees to embrace resilience, discipline, and innovation in their businesses, Executive Director, Sahara Group,
Dr Kola Adesina, said these attributes will help African Extrapreneurs achieve “transformative impact across the continent with the added incentive of scaling their businesses for global competitiveness.”

Also speaking, Executive Director, Sahara Group, Ade Odunsi, said, “Sahara started out with the mindset of Extrapreneurship. Your businesses must have unique value propositions that can continually be reengineered for more impact through innovation.”

The 2025 programme cycle attracted over 2,000 applications from across Africa, demonstrating the depth of innovation on the continent.

A rigorous selection process shortlisted about 300 innovators for an intensive Capacity Building Workshop delivered by Sahara Group experts. The sessions covered business strategy and sustainability, governance and regulatory compliance, brand positioning and communications, commercial and stakeholder management, and legal, financial, and tax advisory processes.

20 high-potential Extrapreneurs were eventually selected for the ������Ƶ Advisory Bootcamp and Sahara M.A.D Den in Lagos, Nigeria, ultimately receiving grants for their businesses.

The recipients of $10,000 included Chinwendu Augustina Nweke of Bridge Merchant Enterprise (Nigeria); Elvis Kadhama of Essymart Africa ������Ƶ Link Limited (Uganda); Violet Awo Amoabeng of Skin Gourmet (Ghana); Tracey Shiundu of FunKe Science (Kenya); Salma Medhat of Hiryo (Egypt); Anita Nsiah Donkor of Timoya Farms (Ghana); Dr. Sisay Abebe of KMS ETH Health Trading S.C (Ethiopia); Kedumetse Liphi of Ked-LiphiBw (Botswana); Ernest Mongezi Majenge of The Wheelchair Doctor (South Africa); and Joan Rukundo Nalubega of Uganics Repellents Ltd (Uganda).

$5,000 grants were awarded to Eunice Adewale of Smokeless Briqs Energy Solutions (Nigeria); Henry Danwawo Lamba of Schrödinger Technologie Ltd (Nigeria); Johnson Obute of Maximus Recycling Solutions (Nigeria); Abraham Ugbenja Iborchan of PureLube Limited (Ghana); and Brian Okeyo of Nawiri Organics (Kenya).

The $1,000 grant recipients included Jide Ayegbusi of EdGo Technology Ltd (Nigeria); David Ssembajjwe of Camelot Agroecology Farm Ltd (Uganda); Mojola Ola of Gridcrux Energy Solutions (Nigeria); Abiodun Quadri of Zerosmoke Ventures (Nigeria); and Fasanya Samuel Akinpelumi of Poshfil Polish Products Ltd (Nigeria).

Peter Uzoho

Sahara Group Foundation, the corporate social impact arm of Sahara Group, has launched its 16th Sahara Go-Recycling Hub in Lekki, Lagos State, reaffirming its commitment to sustainable waste management, environmental protection, and community empowerment.

The new hub, strategically located in Lekki, expands the Foundation’s recycling footprint and builds on the success of 15 existing hubs across Lagos.

Notably, it is the first Sahara Go-Recycling Hub to feature a solar-powered Reverse Vending Machine (RVM), a significant step toward integrating clean energy and technology into community recycling solutions.

The Sahara Go-Recycling initiative promotes a circular economy by reducing waste, enhancing resource recovery, and empowering residents with opportunities to earn income from recyclables.

Speaking at the unveiling, Director, Sahara Group Foundation, Chidilim Menakaya, said: “The launch of the Lekki Go-Recycling Hub goes beyond environmental responsibility, it represents a new path for innovation, economic opportunity, and community resilience.

“By integrating clean energy solutions like the solar-powered Reverse Vending Machine, we are demonstrating how innovation can strengthen environmental responsibility while improving quality of life. This hub is a testament to what is possible when we combine commitment with action, and it sets the stage for even greater impact across the communities we serve.”

Reiterating Sahara Group Foundation’s vision, Menakaya added the Sahara Go Recycling project was creating a ripple effect across Lagos, enabling households and communities to see value in responsible waste management.

Through strategic partnerships, she said the foundation and partners were amplifying impact and building sustainable ecosystems for future generations.

“At Sahara Group Foundation, we believe in EXTRApreneurship, building sustainable ecosystems through collaborations that inspire change. With Ijede now part of our network, we are one step closer to a truly circular economy in Nigeria,” she concluded.

The event was attended by Executive Director of Sahara Group,
Moroti Adedoyin-Adeyinka; Director, Downstream Africa, Sahara Group, Sahara Group Foundation Board Trustees, Asharami Synergy Management team, executives and representatives of Sahara Group, Asharami Synergy, Egbin Power Plc, as well as other dignitaries, traditional leaders and community members.

In her remarks, Adedoyin-Adeyinka said, “The success of the Lekki Sahara Go-Recycling Hub is a powerful reminder that sustainable change happens when communities, technology, and purpose come together. This hub is not just collecting recyclables, it is inspiring new habits, creating economic value, and proving that cleaner, greener cities are possible when we all play our part. We are proud of what this hub represents and even more excited about the impact it will continue to make across Lagos and beyond.”

Managing Director, Sahara Power Group, Dr Anthony Youdeowei, commended the collaboration between Sahara Group Foundation, Asharami Synergy, the Sahara Group 2025 Graduate Management Trainees, and Eco Barter, describing the hub as reflective of their belief that sustainability must be practical, accessible, and community driven.

Representing the 2025 Sahara Group Graduate Management Trainees, Elushade Oluwatumininu stated that as Graduate Management Trainees, being part of the Lekki Go-Recycling Hub project through our PSCR project has been a meaningful way to live out Sahara’s sustainability values.

“Seeing the hub’s impact from promoting recycling habits to empowering the community, reinforces how small actions can drive real change. We’re proud to be part of this initiative.”

Since its inception, the Sahara Go Recycling Initiative has collected over 650 tonnes of recyclable waste and facilitated payouts exceeding N55 million to beneficiaries.

The programme has positively impacted more than 1200 households, creating alternative income streams, supporting livelihoods, and reinforcing environmental sustainability.

Chief Executive Officer of Eco Barter, Rita Idehai, added: “Our partnership with the Sahara Group Foundation on the Lekki Go-Recycling Hub demonstrates the power of collaboration in accelerating sustainable change. Together, we are creating a system that rewards responsible disposal, supports local livelihoods, and brings technology-driven recycling closer to the community. We are proud to work with a partner that shares our vision for a cleaner, smarter, and more circular future for Lagos.”

Sahara Group Foundation plans to expand the Go Recycling Initiative to more communities in Lagos and across Africa, reinforcing its mission of “Building Sustainable Communities through EXTRApreneurship.”

Peter Uzoho

The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has renewed the federal government’s commitment to unlocking wider financial and institutional support for indigenous oil and gas service companies, citing the success of Tamrose Limited and the Nigerian Content Intervention Fund (NCI Fund) as a strong demonstration of what structured, accessible support can achieve.

Speaking last Thursday at a landmark stakeholder event held at the Nigerian Content Development and Monitoring Board (NCDMB) Headquarters in Yenagoa, tagged, “Celebrating Growth and Impact”, the minister commended Tamrose, an indigenous oil service company, for its financial discipline and operational growth following the full repayment of its $10 million NCI Fund facility.

Lokpobiri noted that the company’s progress underscores the importance of expanding support mechanisms to enable more Nigerian-owned companies to scale capacity and deepen their participation in the country’s offshore and marine logistics sector.

The minister said, “Over 70 companies have accessed the NCI Fund, yet only 21 have fully repaid their loans — and Tamrose is one of them. Their achievement reflects the very purpose for which the Fund was created: to strengthen local capacity and empower Nigerian service companies to compete at home and across Africa.

“Through this support, Tamrose has not only grown its operations but expanded beyond Nigeria’s shores, increasing its fleet from four vessels to fifteen, creating jobs for Nigerians, and setting a clear benchmark for operational excellence.

“As Minister and Chairman of NCDMB, our commitment is to continue fostering this kind of growth by ensuring that indigenous companies receive the support they need to scale, thrive, and deepen their contribution to the nation’s oil and gas sector.’’

Also speaking at the event, Executive Secretary of NCDMB, FelixOgbe, who was represented by the board’s General Manager, Capacity Development, Esueme Dan Kikile, described Tamrose as an example of the outcomes envisioned when indigenous firms apply discipline, capability, and innovation in their operations.

“Today is not just a celebration of one company; it is a reaffirmation of what is achievable through the Nigerian Content framework. Tamrose has shown strong leadership, financial fidelity, and accountability.

“Their growth—from a small operator to a major marine logistics service provider—is proof that the NCI Fund is working. This is why we will continue to support more credible Nigerian companies to access this fund and expand their capacity”, Ogbe stated

In his welcome address, Executive Chairman of Tamrose Limited, Mr. Ambrose Ovbiebo, expressed appreciation to the petroleum ministry, NCDMB, and the Bank of Industry (BOI) for their support.

He reiterated the company’s commitment to strengthening indigenous capacity in offshore marine logistics.

He Ovbiebo said, ‘’We are gathered here today using Tamrose as a point of contact, a convergence and amplification of the voices of all Nigerian entrepreneurs in the oil and gas sector and beyond. We are here to say loudly that Nigeria can work, and that indigenous Nigerian companies can scale and dominate Africa and indeed the world — with the right government and institutional support.

“In 2019, Tamrose accessed and secured a US $10 million facility through the NCI Fund. That singular support from NCDMB turned out to become not just pivotal, but a foundational catalyst that has propelled and continues to accelerate our growth and evolution as a company.

“Since then, our operations have grown from four vessels to fifteen active units, comprising ten security patrol vessels and five platform supply vessels — all purpose-built and carefully selected, to safely deliver our hallmark excellent services of reliability and efficiency. ‘’

The event themed “Celebration of Growth and Impact” hosted by Tamrose in collaboration NCDMB, brought together senior government officials, leaders of international and indigenous oil companies, financial institutions, traditional rulers, and other strategic partners.

Other high profile stakeholders present at the occasion included the Managing Director of BOI, Dr Olasupo Olusi; Director-General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr Dayo Mobereola;
former Deputy Governor of Bayelsa State; Real Admiral Gboribiogha Jonah (rtd); and representatives of Keystone Bank, ExxonMobil, First E&P, and Oriental Energy.

Over the years, Tamrose Limited has consistently demonstrated its commitment to indigenous capacity development, human capital growth, and community empowerment through a range of initiatives.

Since accessing the NCI Fund in 2019, the company has expanded its fleet from four to fifteen vessels — achieving about 300 per cent fleet growth and extending operations from Nigeria to Angola while proudly flying the Nigerian flag everywhere they go.

Tamrose has created nearly 250 direct jobs, supported over 600 indirect family livelihoods across the maritime ecosystem, and trained more than 100 cadets under the Tamrose Cadetship Training Scheme to international seafaring standards.

The company has also enhanced healthcare accessibility for its workforce, enrolling over 1,500 employees in HMOs, and significantly accelerated NCDMB’s goal of achieving 70 per cent local content by 2027.

Beyond business growth, these initiatives underscore Tamrose’s ongoing commitment to building a strong, skilled, and sustainable Nigerian maritime sector.

Peter Uzoho

The management of the Niger Delta Power Holding Company (NDPHC), has called on high-energy-consuming organizations to subscribe to its Eligible Customer Programme (ECP) to enable them to purchase electricity directly from NDPHC and other Generation Companies.

NDPHC explained that the Eligible Customer Programme, initially launched in 2017 and updated in 2024, provides an avenue for industrial and commercial customers to access stable, reliable, and affordable electricity supply.

Under the Programme, eligible customers can access between 6, 10 and 20MW.
Once approved with a Power Purchase Agreement (PPA) and secure eligibility status, customers benefit from flexible pricing, negotiated energy tariffs, and improved supply reliability.

With more than 2,000MW of stranded power capacity, NDPHC is intensifying efforts to optimize its generation assets by selling power directly to bulk users. The Company sees the initiative as a key step towards addressing its liquidity challenges and promoting industrial growth.

The Managing Director/Chief Executive Officer of NDPHC, Engr. Jennifer Adighije, described the Programme as a strategic pathway to deepen Nigeria’s industrial competitiveness.

“The Eligible Customer framework is designed to strengthen Nigeria’s industrial growth by guaranteeing efficient, reliable, and affordable electricity directly from our plants to businesses

“Phoenix Steel Mills is a clear demonstration of how stable power translates into higher productivity, cost savings, and stronger value chains for the economy”, Adighije stated.

She noted that the success of early participants in the scheme has reinforced NDPHC’s commitment to expanding the initiative to more industrial clusters across the country.

Companies currently benefiting from NDPHC’s Eligible Customer Programme include Phoenix Steel Mills, among others.

Peter Uzoho

Rifugio Communications Limited, a leading Nigerian electronics retail and enterprise solution provider, has celebrated its phenomenal growth, technological innovation, and resilience which it recorded over the last 10 years of its establishment and operation.

With eyes now set for more growth and new wins in the next chapter of its journey, Rifugio has also reaffirmed its commitment to expanding across other countries in Africa.

Speaking at the company’s 10th anniversary celebration in Lagos, the Founder of Rifugio, Dr. Kayode Thomas, described the anniversary as a day of reflection and celebration, while highlighting the company’s remarkable growth trajectory since its establishment in 2015.

Reflecting on the company’s journey, Thomas acknowledged the challenges faced over the past decade, including the impact of naira devaluation and the COVID-19 pandemic, which disrupted consumer purchasing power.

“The naira devaluation hit retailers hard, making devices expensive and slowing sales. During the pandemic, people couldn’t buy as much, but later realised the need for better devices for virtual meetings — and business picked up again,” he said.

According to him, the company’s confidence to keep expanding despite economic challenges comes from Africa’s large youth population and growing appetite for technology.

“Our vision is to be present in every state and eventually across Africa. We’re already in Lagos, Oyo, Abuja, and Kaduna, but our eyes are set on expanding further — into other regions where the demand for quality technology is strong.

“Ironically, what discourages others is what gives me confidence. Africa’s potential is enormous — the people are here, the demand is here, and we must keep creating jobs and opportunities”, Thomas stated.

He said Rifugio was formed with a vision to be a leading electronics retail and enterprise solution provider in Nigeria, adding that from a humble beginning with one outlet in Lekki, they have grown phenomenally to over 24 outlets and still expanding.

“We’ve survived 10 years in a challenging market. By God’s grace, in the next 10, we’ll not just be in every state in Nigeria, but across Africa — empowering people and redefining the electronics retail experience,” he said.

Peter Uzoho 

Consumers of electricity have urged the new distribution firms in Lagos State – IE Energy Lagos Limited and Excel Distribution Company Limited to prioritise improvement in billing and collection efficiency to enable them raise more revenue and reduce the illiquidity issues in the Nigerian Electricity Supply Industry (NESI).

The consumers also urged the new utility companies which took over from the existing Ikeja Electric Plc (IE) and Eko Electricity Distribution Company Plc (EKEDC) to increase investment in network upgrade and metering system, adding that why striving to ramp up revenue, they must ensure improvement in power supply and general service to customers. 

The President, Nigeria Electricity Consumer Protection Network, Mr. Kunle Olubiyo, made the demands during an exclusive chat with ������Ƶ.

Last week, the Lagos State Electricity Regulatory Commission (LASERC) issued distribution licences to Excel Distribution Company Limited and IE Energy Lagos Limited, marking their takeover from Eko and Ikeja Electric Plc, respectively.

The development signals a major milestone in the implementation of the Lagos State Electricity Policy and the expansion of a competitive electricity market in the state.

The LASERC Chairman, Abimbola Odubiyi, handed over the licences to the new operators, a development that brought the existence of Eko Disco and Ikeja Electric to an end in the Lagos electricity market.

Odubiyi described the move as “another defining moment in Lagos’ journey towards a reliable and sustainable electricity market,” stressing that the Commission would continue to uphold independence, transparency, and service to Lagosians.

LASERC’s Chief Executive Officer, Dr. Fouad Animashaun, said the issuance of the licences underscores the state’s commitment to enabling private sector participation.

“By expanding competition, Lagosians can look forward to better access, improved reliability, and affordable electricity supply,” he said.

Responding to the emergence of new successor Discos in Lagos, Olubiyo described it as “a welcome development”, adding that the expectation of the public was for the new distribution licensees to take care of the day-to-day business of power distribution and ensure radical scaling up of collection and billing efficiency.

“The emphasis is on the commercial component, which is improving on collection efficiency and billing efficiency.”

However,  while the new Discos seek to increase their revenue and become more buoyant, Olubiyo urged them to prioritise upscaling efficiency in service delivery and customer satisfaction. 

He said most of the existing network do not have the requisite equipment, a situation he noted demands greater attention to investment in infrastructure.

Peter Uzoho

Nigerian energy solutions provider, Smart Energies, has declared expansion of its business from mass deployment of clean cooking gas to innovative renewable energy solutions designed to transform access, affordability and sustainability across Nigeria’s energy landscape.

In its new expansion programme, the company stated that it has rolled out electric motorcycles, solar-powered charging stations, cooking gas subsidy cards, and new mobile app that put clean and affordable energy at the fingertips of households and communities.

The company is currently calling for partnership with government, development agencies, investors and corporate entities to forge strong collaboration in generating the required thrust to scale energy access and adoption.

Chief Executive Officer of Smart Energies, Dr Yinka Opeke, stated that the company’s business expansion was part of its growth strategy, adding that Smart Energies was redefining energy access by combining innovation, inclusivity, and social impact.

The company has been in the frontline of driving government’s penetration programmes for deepening the domestic market for mass deployment of various specifications of gas for cooking, commercial and other purposes.

All the company’s programmes are designed to enhance easy switch from inefficient traditional energy forms through sponsored programmes that target the less privileged segments of the society.

Under the prevailing business expansion programme, Opeke stated that Smart Energies has incorporated renewable energy and electric vehicles in an innovative business plan that solidly places the company in clean energy pitch.

With the launch of electric motorcycles, she said, Smart Energies is empowering Nigerians, from delivery riders to entrepreneurs, to adopt clean mobility without the barrier of upfront costs.

She explained that the company is prioritizing affordability and flexibility for riders by offering daily, weekly, and monthly rentals, alongside lease-to-own programs spanning three months, six months, and one year.

To consolidate on gains recorded so far in its ongoing campaigns for promotion of cooking gas in Nigerian homes, the company stated that it has now introduced prepaid subsidy cards for cooking gas.

Opeke pointed out that Smart Energies introduced the digital transaction solutions to subsidize cooking gas and allow families access to clean cooking fuel at discounted rates and in an efficient and transparent subsidy deployment process.

She added that the subsidy programme was conceived upon recognizing the economic pressures facing households.

“This innovation is critical in preventing communities from reverting to firewood and other harmful fuels due to rising costs. By making clean energy more affordable, Smart Energies is helping protect health, preserve the environment, and ensure energy equity,” she stated.

“Our mission is not just to power homes and businesses; it’s to empower communities,” Opeke added.

Explaining the company’s position in the clean energy terrain, Opeke stated that Smart Energies operates with Environmental, Social, and Governance (ESG) principles at its core.

She added that the company’s initiatives align with the United Nations Sustainable Development Goals (SDGs).

She pointed at the SDG 7 which advocates for affordable and clean energy; adding that the company is expanding access to clean cooking gas, solar, and EV solutions.

She also pointed at SDG 9 which emphasizes industry, innovation, and infrastructure; stating that Smart Energies is building resilient, future-focused infrastructure.

The Central Bank of Nigeria (CBN) will inaugurate the Governor’s Annual Lecture Series on Friday, October 3, 2025, at the Honeywell Auditorium, Lagos ������Ƶ School, Pan-Atlantic University.

Themed “Next Generation Leadership in Monetary Policy and Nation Building,” the lecture marks the launch of a flagship platform under the CBN Governor’s Knowledge Acceleration & Thought Leadership Initiative. The series is designed to strengthen dialogue between the Bank and thought leaders across academia, business, policy, and civil society.

This inaugural edition coincides with the second anniversary of Team Cardoso’s leadership at the CBN, a milestone reflecting reforms that have stabilized the naira, improved key economic indicators, and restored international investor confidence in Nigeria’s economy.

The platform will convene policymakers, industry leaders, academics, and students from leading tertiary institutions, highlighting the central role of monetary policy in driving stability, growth, and nation-building.

The choice of Lagos ������Ƶ School as the inaugural host reflects its reputation as a hub for leadership and policy innovation, offering an environment that bridges theory and practice and encourages rigorous debate.

Through this initiative, the CBN underscores its commitment not only to safeguarding Nigeria’s macroeconomic stability but also to investing in the next generation of leaders who will sustain and build on today’s progress.

•UUBO, IFC, Shell counsel developers on bankability, profitability of business

Peter Uzoho

The renewable energy sector in Nigeria, particularly solar, which is the most popular in the country, has been projected to witness a gale of mergers and acquisitions (M&A) in the coming years in order to consolidate and unlock the kind of financing required to scale their business, execute bigger projects, and increase their service offerings.

Solar developers have also praised the recent improvement in the macroeconomic environment in Nigeria, saying positive indicators such as the exchange rate stability has brought some comfort to the solar space, thus making solar cheaper than other sources of electricity.

However, energy finance and infrastructure specialists at the Udo Udoma & Bello Osagie (UUBO), the International Finance Corporation (IFC), and Shell Energy Nigeria, among others, have advised renewable energy developers and operators on the need to always structure their projects in a way that makes them more bankable and profitable to potential investors and financiers.

Moderating a panel at the UUBO Energy and Infrastructure Breakfast Session 2.0, held in Lagos, with the theme: “Powering Nigeria: Financing and Scaling Renewable Energy”, Senior Associate at UUBO, Chisom Okolie, stressed the need for solar companies to have an organised system within their organisation to make it easier for investors to believe in them as a serious-minded business.

Okolie, whose session was on “Unlocking Capital Flows: Innovative Structures for Renewable Energy Finance,” observed that one of the challenges within the renewable energy sector was the proliferation of companies that operate in small-scale silos.

She stated that this may lead to companies coming into partnerships through mergers and acquisitions for the consolidation of capital and expansion of business.

“One thing that I see is that we have a lot of renewable energy companies operating in small-scale silos. So, I think that in the future, what may happen is that there may be a lot of M&A activities, which is an acquisition of different companies, coming together to pull themselves together to become one big organisation.

“In that way, you would scale operations and also cover a lot of business. So, it’s something that I see waiting for us in the future and could happen,” she stated.

Okolie added that solar developers seeking external funding must simplify their  financial process such as being able to provide information regarding the flow of funds from generation to distribution and also endeavour to pay back their debts, noting that that is one of the key areas investors look out for in potential investors.

Contributing, Principal Investment Officer at IFC, Mr. Abiola Aina, revealed that banks have multiple layers of judging the viability of a project and its bankability.

He explained that the ability of the potential clients or customers to pay for the service being offered, readily tells the profitability of the project and gives investors the confidence to fund it.

According to him, simplifying the structure of a project, its financial flows, was key in attracting financing for projects.

“As long as there is enough money to pay for everyone in that chain, then a bank will look at that and say, look, I think I can finance this.

“But fundamentally, all we are trying to figure out is, if I invest money in this project, whether it is debt, whether it is equity, what is the probability that I will be able to pay it? That is it,” Aina said.

The Chief Financial Officer, Arnergy, James Fabola, who fielded questions on how solar firms should prepare their projects for investment readiness, observed that commercial viability used to be a major challenge facing the sector.

However, Fabola noted that recent improvements in Nigeria’s macroeconomic environment such as foreign exchange stability, has strengthened the value proposition for solar, pointing out that solar is now cheaper than some other energy sources.

“One thing the industry struggled with up until recently was the commercial viability. Obviously, recent macroeconomic events have strengthened the value proposition for solar.

“So solar is now cheaper than some other energy sources. I know that is debatable, but that’s our reality, and I’m sticking to that.

“But it’s clear that solar now makes sense a lot more than a few years ago, when it was either seen as a social good or for environmental benefits. So that helps greatly,” he stated.

Deal Delivery Lead at Shell Energy Nigeria, Mr. Afolabi Akinrogunde, advised renewable energy companies in Nigeria to strive to be an organised company with the right models, systems, and corporate governance structure.

He added that solar firms should be operating at a scale that enables them to secure financing as developers, pointing out that was also one challenge that exist in the renewable energy ecosystem.

Akinrogunde added that they must ensure they have their own personal funding to augment the one that is coming from external financing.

“There should be some level of skill in the game. So, you can’t be asking an investor to give you N10 billion when you don’t have one to N5 billion of your own money.

“That then gives the investor some level of certainty that you know what you’re doing,” he said.

Akinrogunde noted the existence of too many companies operating in the ecosystem, which makes it difficult to crowd finance into companies, saying there are different O&M systems, different OEMs, and different operating philosophies that make it difficult to operate at the level expected by financiers.

In her closing remarks, Partner at UUBO,

Ms. Adeola Sunmola, expressed confidence that the discussions and ideas generated at the session would inspire meaningful actions and collaborations that would help drive Nigeria’s transition to a more sustainable energy future.

Peter Uzoho 

In commemoration of World Literacy Day 2025, Heirs Energies Limited, Nigerian integrated energy company, and the World Literacy Foundation (WLF), a global non-profit dedicated to eradicating illiteracy,

have announced the launch of the Sun Books Literacy Initiative in Rivers State.

The initiative is expected to directly benefit more than 500 pupils at Central State Primary School, Omuohia-Igwuruta, and Umuebulu Primary School, Umuebulu, both located within Heirs Energies’ oil mining lease (OML) 17 host communities. 

Heirs Energies disclosed the launch in a statement issued yesterday, revealing that pupils will receive solar-powered Sun Books tablets, preloaded with culturally relevant, curriculum-aligned literacy content and interactive learning modules. 

Under the initiative, solar panels will also be installed in the schools to ensure uninterrupted power for the devices and classrooms, creating sustainable access to education in resource-limited environments.

Commenting on the initiative, Chief Executive Officer of Heirs Energies, Osa Igiehon reaffirmed the company’s long-term vision for community empowerment.

“As an integrated energy company, we know that renewable and sustainable energy must serve a greater purpose — building stronger, more resilient communities. Our investment in literacy is an investment in the next generation of leaders, innovators, and problem-solvers,” Igehon said. On his part, Chief Executive Officer of the World Literacy Foundation, Mr. Andrew Kay underscored the global significance of the collaboration.

Peter Uzoho

Heirs Energies, Africa’s leading indigenous-owned integrated energy company, has continues to amplify its commitment to energy sufficiency for Africa with a strong presence at two landmark events: the U.S.–Africa Energy Forum and the Namibia International Oil & Gas Conference 2025.

At both fora, Heirs Energies showcased its strategy of responsibly harnessing Africa’s vast natural resources to deliver energy security, drive industrialization, and create long-term shared prosperity.

At the USAEF in Houston, Texas, United States, Chief Executive Officer of Heirs Energies, Mr. Osa Igiehon joined global energy leaders and policymakers in high-level sessions examining the future of energy partnerships between the U.S. and Africa.

Speaking on Heirs Energies’ vision, Igiehon emphasized that: “Africa must define its energy future by leveraging both its abundant hydrocarbons and renewable resources. At Heirs Energies, we are committed to making energy sufficiency a reality for millions, while ensuring that sustainability, innovation, and local capacity building remain at the heart of our growth story.”

The forum provided a platform to strengthen dialogue with U.S. investors, technology providers, and government agencies on financing and innovation to accelerate Africa’s energy independence.

Following USAEF, Heirs Energies extended its strategic engagement to Namibia, one of Africa’s most exciting frontier markets for oil and gas. Igiehon participated in a high-profile panel session alongside international and regional operators, sharing perspectives on building responsible and inclusive energy industries across Africa.

On Namibia’s future, he noted: “This visit marks the beginning of a long-term engagement, with many more interactions to come as we explore opportunities to contribute meaningfully to Namibia’s energy story.”

Heirs Energies’ presence underscored its role not just as a Nigerian operator, but as a pan-African energy company committed to delivering energy solutions that balance commercial viability with societal impact.

Both engagements reflected Heirs Energies’ anchoring philosophy of Africapitalism, championed by its Founder and Group Chairman, Tony Elumelu.

This philosophy asserts that the private sector must drive Africa’s development by investing in strategic sectors that create both economic prosperity and social wealth
Heirs Energies Limited is Africa’s leading indigenous-owned integrated energy company, committed to meeting Africa’s unique energy needs while aligning with global sustainability goals. 

Having a strong focus on innovation, environmental responsibility, and community development, Heirs Energies leads in the evolving energy landscape and contribute to a more prosperous Africa.

Peter Uzoho

As Namibia emerges Africa’s next major oil frontier, Chief Executive Officer of Heirs Energies Likited, Osa Igiehon will be taking a center stage at the Namibia Oil & Gas Conference (NOGC) 2025 to share the blueprint for building world-class African energy companies.

At the conference, Igiehon will headline the session – “The Making of an African Independent”, on 14th August, where he will be bringing hard-won insights from Heirs Energies’ transformation of Nigeria’s oil miming lease (OML) 17 into one of West Africa’s most successful indigenous-operated assets.

The session opens with an exclusive fireside chat between Igiehon and Dr. Clemens von Doderer of the Hanns Seidel Foundation Namibia, followed by a high-impact panel featuring industry heavyweights from Azule Energy, Rhino Resources Namibia, and the Gas Exporting Countries Forum.

The conversation tackles the real challenges: How do African independents compete with global majors? What does it take to build sustainable operations that deliver both profit and purpose? And why is local expertise the secret weapon for long-term success?

“We’re proving that African companies don’t just participate in the global energy market – we lead it. When you combine African innovation with world-class execution, you create something powerful”, Igiehon said.

Heirs Energies embodies the Africapitalism philosophy of its Group Chairman, Tony Elumelu, which is the belief that African private enterprise is the key to the continent’s transformation. From Nigeria to Namibia, the company is rewriting the playbook for what indigenous energy leadership looks like.

The timing couldn’t be more relevant. As Namibia’s Orange Basin attracts billions of dollars in international investment, the question isn’t whether African companies can compete? It’s how fast they can scale?

Heirs Energies Limited is one of Africa’s leading indigenous-owned integrated energy company, committed to meeting Africa’s unique energy needs while aligning with global sustainability goals. 

Having a strong focus on innovation, environmental responsibility, and community development, Heirs Energies leads in the evolving energy landscape and contributes to a more prosperous Africa.

Peter Uzoho 

Eterna Plc, a prominent Nigerian oil and gas downstream player has reported a strong financial turnaround for the fiscal year ended December 31, 2024, with  a 71 per cent increase in revenue, growing from N183.3 billion in 2023 to N313.6 billion in 2024, despite a volatile operating environment. 

The company disclosed these results at its 32nd Annual General Meeting (AGM), where shareholders also ratified important board appointments and strategic resolutions to support future growth.

It said gross profit rose by 136 per cent to N39.9 billion, while profit before tax stood at N4.48 billion, marking a significant recovery from the N11.9 billion pre-tax loss recorded in the previous year.

Shareholders at the AGM commended the company’s resilience and strategic direction, expressing confidence in the leadership team and its ability to drive sustainable growth in the evolving energy landscape.

Speaking during the meeting, Chairman of Eterna, Dr. Gabriel Ogbechie, highlighted the company’s performance as evidence of its operational discipline and strategic focus.

“Our 2024 performance is a direct result of decisive leadership, strong execution, and the unwavering commitment of our people. As we deepen our footprint across energy value chains, we remain guided by a strategy that prioritizes growth, resilience, and innovation,” he said.

Peter Uzoho 

Genesis Energy, a pan-African clean energy infrastructure development and asset management company has announced a strategic partnership with Global Citizen, an international advocacy organisation, as a campaign policy partner on its ‘Scaling Up Renewables in Africa Campaign’. 

The landmark agreement—formalised during an exclusive high-level event in London—underscores Genesis Energy’s commitment to the African energy sector by driving investment and policy change for cleaner communities, industries, and a sustainable future, while also supporting global efforts to attract investment in clean energy and bolster energy access.

Through this partnership, Genesis Energy and Global Citizen will collaborate on a unifying, energy-focused campaign that accelerates access to clean energy and amplifies climate solutions. 

Leveraging Global Citizen’s advocacy platform and extensive global network, the campaign will engage government leaders, donors, civil society, and private sector actors to mobilise resources and shape policy that enables a just energy transition in Africa.

Speaking on the significance of the partnership, Chairman and Chief Executive Officer of Genesis Energy, Mr. Akinwole II Omoboriowo, emphasized the company’s unwavering commitment to accelerating sustainable clean energy access and the company’s mission of “Lighting Up Africa One Community at a Time”. 

He remarked: “At GENESIS Energy, we believe clean, reliable energy is the foundation of economic growth, social progress, and environmental sustainability. Through our partnership with Global Citizen, we are raising awareness and championing clean energy’s vital role in closing Africa’s energy gap.”

Co-Founder and Chief Policy, Impact, and Global Affairs Officer, Global Citizen, Michael Sheldrick. stated, “Access to clean, reliable and affordable energy is essential to driving economic development and remains a critical lever in the global fight to eradicate extreme poverty.

“Together, with GENESIS Energy we’re committed to supporting an energy transition that delivers returns – creating jobs, scaling private capital, driving policy change and expanding access to reliable power for millions.”

Peter Uzoho 

Chairman of Geometric Power Limited and former Minister of Power, Prof. Barth Nnaji has called on the Nigerian Electricity Regulatory Commission (NERC)  and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to reconcile the worrying disparity in gas-to-power prices which is contributing to the challenge in gas supply to power generation companies (Gencos).

Nnaji made the call in Lagos while speaking at the Oriental News Nigeria 2025 Conference, with the theme: “Integrating Nigeria’s Gas Potential into Strategic Energy Transition Initiatives”.

Specifically, he urged NERC and NMDPRA to reconcile the gap between the regulated $2.42  per million British thermal units (MMBTU) domestic gas price for power generation and the prevailing market rate of $2.70 to $9.

He advocated a more realistic tariff framework that aligns with actual gas procurement costs for electricity Gencos.

Nnaji noted that while the official domestic gas price for power generation was formerly pegged at $2.42 per MMBtu, the NMDPRA revised this down to $2.13/MMBtu effective April 1, 2025. 

He, however, noted that in reality, Gencos often source gas from the open market where prices range from $2.70 to as high as $9/MMBtu, depending on supply constraints and contract terms.

“Because most electricity is generated using gas, sourcincos depend heavily on sourcing this gas from the open market, the disparity between the regulated and actual prices continues to strain the sector,” Nnaji said.

He warned that the pricing gap is worsening the liquidity challenge in the power sector, contributing significantly to the N1.1 trillion electricity subsidy recorded in the first half of 2025 and the N5 trillion debt owed Gencos by the federal government.

According to him, the gas-to-power benchmark being below market realities places an unsustainable burden on power producers.

He also emphasised the need for more cost-reflective electricity tariffs, explaining that the current pricing structure fails to cover the operational and maintenance costs of Gencos, particularly as many critical inputs are imported.

“The energy charge component of the power tariff must be able to cover the cost of maintaining the assets. If operators can’t recover expenses for operations and maintenance, which are often dollar-denominated, there will be recurring system failures.The regulator must continue to adjust the tariff in line with actual industry costs to ensure sustainability,” Nnaji stated.

Peter Uzoho 

Aradel Holdings Plc has been awarded the Best Equity Deal in Europe, Middle East, and Africa (EMEA) at the 2024 edition of the EMEA Finance Achievement Awards.

The recognition, according to the organisers, is because of the company’s Listing on the Nigerian Exchange (NGX).

The prestigious award was presented at the EMEA Finance Achievement Awards 2024 Charity Dinner, held recently in London  as part of the 17th edition of its annual Achievement Awards.

The organisers said the nominations were made by banks and their clients, from which pool of nominees, the EMEA Finance editorial team made their final selections in recognition of investment houses and capital market transactions that exemplify innovation, diligence, and outstanding performance across the EMEA region.

Aradel’s milestone listing on the Main Board of the Nigerian Exchange took place on the October 14, 2024 and marked a significant step in the company’s strategic vision to provide energy solutions that foster inclusive economic growth. 

The listing was in fulfilment of a long-standing promise made by the company’s founding fathers, to democratise access to the energy sector and contribute meaningfully to indigenous wealth creation and development.

Commenting on the award, Managing Director/Chief Executive Officer of Aradel Holdings Plc, Mr. Adegbite Falade, said: “It is a profound honour to receive this award on behalf of the Shareholders, Board, Management, and Staff of Aradel Holdings Plc. 

“This award acknowledges our remarkable transformation journey, outstanding performance and our significant contributions to the Nigerian economy. At Aradel, we remain committed to technical and operational excellence while focusing on creating sustainable growth and lasting positive impact for our shareholders, stakeholders, and our host communities.”

•Says company driving nation’s economic emancipation  

•650,000bpd facility relies on feedstock import from US due to shortage of domestic supply, Dangote complains

Peter Uzoho

The federal government’s Technical Committee on the One-Stop Shop (OSS) for the Naira-for-Crude initiative has lauded the $20 billion Dangote Petroleum Refinery and Petrochemicals, describing it as a symbol of industrial revolution in Nigeria.

The committee stated that the Aliko Dangote-owned world’s largest single train refinery was driving Nigeria’s economic emancipation. It described the facility as a breath of fresh air that was impacting virtually every sector of the economy.

A statement issued yesterday by Dangote Group said Coordinator of OSS Technical Committee, Mrs. Maureen Ogbonna, gave the commendation on Tuesday, when she led the delegation on a tour of the facility.

Ogbonna stated, “This refinery touches all our lives. There’s scarcely any sector unaffected. From pharmaceuticals to construction, food to plastics, this project is transformational.

“God has used the President of the Dangote Group to liberate Nigeria. I see this as the beginning of an industrial revolution.”

Stating that in line with President Bola Tinubu’s vision of achieving full domestic sufficiency in petroleum products and positioning Nigeria as a major global exporter, Ogbonna said the committee was committed to eliminating regulatory, operational and logistical barriers that hindered the smooth supply and sale of domestic crude oil and refined products in naira.

Reflecting on the scale and sophistication of the facility, Ogbonna, who had visited the facility during construction and more recently alongside the leadership of Nigerian Ports Authority (NPA), expressed delight at its execution.

She said, “It is truly mind blowing that one man could envision and execute such a project. As we toured the refinery, we thought we had seen everything until we reached the laboratory. That lab alone is an institution. I don’t know of any institution in Nigeria or even globally that boasts such a laboratory for petrochemical.”

Ogbonna urged Dangote to remain focused and undeterred by detractors, emphasising that the project is a global achievement, not a personal enterprise.

She stated, “We feel truly honoured to have been warmly received by the President of the Dangote Group and his team. My advice to him is: do not be discouraged by critics. He was never self-centred. Despite the obstacles, he was driven by a vision for Nigeria’s future, reaching far beyond Africa.”

In response, founder of the refinery and Africa’s richest man, Aliko Dangote, applauded the technical committee for its role in supporting the implementation of Tinubu’s laudable Naira-for-Crude initiative.

He commended the positive impact of the naira-for-crude swap deal on the Nigerian economy, saying it has led to a reduction in petroleum product prices, eased pressure on the dollar, and ensured the stability of the local currency, among others.

However, Dangote complained that due to shortage of domestic crude oil, the refinery had increasingly relied on imports from the United States to meet its needs in recent months.

Dangote stressed the importance of bold investment in strategic sectors as key to industrialisation, revealing that building the refinery requires extensive infrastructure development, including world-class, self-sufficient marine facility capable of accommodating the largest vessels globally. 

He assured the delegation of the refinery’s commitment to national development.

Designed to process a wide range of crude types, including African and Middle Eastern grades, as well as US Light Tight Oil, the refinery has the capacity to meet all of Nigeria’s domestic demand for petrol, diesel, kerosene, and aviation jet fuel, with a surplus available for export.

Peter Uzoho 

The Eko Electricity Distribution Company (EKEDC) has reaffirmed its dedication to enhancing service delivery through continuous investment in network infrastructure and workforce development.

Managing Director of EKEDC, Mrs. Rekhiat Momoh stated this during a customer engagement forum held at the company’s FESTAC ������Ƶ District.

The interactive session brought together EKEDC management and customers to address pressing concerns, including technical challenges, billing cycle issues, and delays in prepaid meter programming following a recent system upgrade.

Highlighting ongoing efforts to improve service, MomoMr.who was represented by the General Manager, Corporate Communications and Strategy, Mr. Babatunde Lasaki, outlined several recently completed projects, notably the installation of the new Chevron Feeder in Satellite Town under the FESTAC District.

He also shared EKEDC’s strategic plans to partner with independent power producers to increase electricity supply hours and gradually upgrade customers currently in lower service bands to higher bands in the near future.

During the engagement, customers were urged to report any illegal activity such as meter bypass and vandalism through the company’s official whistle-blower channels.

 The managing director emphasized that proactive community reporting is critical to curbing energy infractions and maintaining infrastructure integrity.

Reassuring customers of EKEDC’s commitment, she stated, “We remain focused on working closely with our communities to promptly address complaints and enhance the overall quality of life through reliable electricity supply “.

Peter Uzoho

Petralon 54 Limited, an indigenous exploration and production company assigned as sole operator of the Dawes-Island Field in Rivers State, and a subsidiary of Petralon Energy Limited, is set to boost Nigeria’s daily crude production with 2,500 barrels.

The company commenced the drilling of a second well in the Dawes-Island Field this month after the arrival of the OES Teamwork rig on the Dawes Island location from another successful operation.

With its expanded activities, Petralon is consolidating its position as a major player in the Nigerian upstream sector, and an operator with enormous capacity to create value for stakeholders.

“Drilling an oil well is an overwhelming task for any organization because of the logistics, and the investments required, but we are happy that our meticulous planning and efforts are met with good fortunes,” Founder & CEO, Petralon Energy Limited, Ahonsi Unuigbe, commented.

“We are emboldened to continue our economic ambassadorial role of creating value for our stakeholders – shareholders, investors, our host communities, indigenous oil servicing companies and regulators. As an entrepreneurial indigenous oil exploration and production company, we are open to new opportunities, and ready to advance the socio-economic good of the Nigerian nation,” Unuigbe added.

•Stakeholders hail NCDMB for growing local participation to 56% in 15 years 

•Board taps Radisson to manage its 5-start hotel by 2027 

•Diri canvasses PIA review, divestment deals to address concerns

•������Ƶ, ex-president, Dangote Refinery, Ogbeifun, Renaissance bag Nigerian Content awards

Peter Uzoho in Yenagoa

Former President Goodluck Jonathan has said the Nigerian Oil and Gas Industry Content Development (NOGGICD) Act 2010 was passed when the National Assembly was vibrant and truly an independent legislature.

Jonathan made the assertion Wednesday night after receiving the Nigerian Content Lifetime Achievement Award at the Champions of Nigerian Content Awards 2025.

The awards ceremony was part of the activities at the ongoing Nigerian Oil and Gas Opportunity Fair (NOGOF), being held in Yenagoa, the Bayelsa State capital.

������Ƶ, Nigerian’s newspaper of record, was also at the event awarded the Nigerian Content Media Organisation of the Year, in recognition of its sterling interpretative and investigative reporting of local content activities in the petroleum sector.

������Ƶ’s award was received by the newspaper’s energy reporter, Peter Uzoho.

Jonathan signed the Nigerian Content Bill into law in April 2010 and immediately saw to the establishment of the implementing agency, Nigerian Content Development and Monitoring Board (NCDMB).

The policy has since its introduction brought significant improvement in the upstream sector of the Nigerian oil and gas industry, with the growth of indigenous participation and in-country capacity. This has resulted in the current 56 per cent growth after 15 years, from a low of just five per cent local capacity utilisation.

Speaking on the occasion, Jonathan said he took the bold step to sign the bill into law to correct the mistake of the past and ensure Nigeria’s oil resources worked for the development of the country.

The former Nigerian leader, who told a story of his encounter with Ugandan President Yoweri Museveni, and the country’s attempt to avoid the mistakes of Nigeria in the management of its own oil industry, said experience inspired him to change the narrative in Nigeria’s oil sector through the Local Content Act.

Jonathan said Nigeria would have gone farther than where it is in terms of growth and value optimisation in the oil and gas industry if the country had laws designed to protect it at the inception of the industry.

He said, “I brought this story because I used to tell people that if at the beginning of the oil industry, we had laws designed to protect us, Nigeria would have gone farther than this. But we did not have that kind of law.”

Jonathan recalled that the first law that governed the Nigerian oil industry was the Mineral Ordinance of 1886, which he doubted if a Nigerian played any role in its development.

He added that the second law that governed the country’s oil industry was the Mineral Oil Ordinance of 1914, which came the year the country was amalgamated, and which, according to him, many Nigerians did not have knowledge of.

The former president maintained that the law that actually started the oil industry in Nigeria was the Petroleum Act of 1969, which came after the discovery of oil in commercial quantity at Oloibiri, Bayelsa State, and after the country’s independence in 1960.

Jonathan stated, “The next robust law was the Petroleum Industry Bill (PIB) that we worked on during my government, but luckily in 2021, it was passed into law.

“To me, today makes me quite happy remembering the journey of the Nigerian Content Development and Monitoring Board.

“Then, what is the story about the Nigerian content or the popularly called Local Content Law. I signed that law in April 2010. As at that time, I was acting President. Of course, you know the story of my becoming acting President. And so, people asked, so why the speed in signing that law?”

He explained that the Nigerian Content Bill originated in the National Assembly as a private-member bill rather than an executive bill, and by a patriotic Rivers State senator, Lee Maeba.

Jonathan said, “Actually, the bill was a private member bill. It was not an executive bill, and I must use this opportunity to commend people like Lee Maeba, a senator from Rivers State. He and other senators came up with the bill.

“So, when the minister of petroleum briefed me that there was such a bill going on in the National Assembly, I was quite pleased and I was just waiting for it, when I was acting President, that was 2010. And when the National Assembly came up with the bill, I hurriedly signed it and we quickly set up the monitoring board.”

He said his visit to China in 2000 as deputy governor in Bayelsa also made him to realise how long China had liberated itself from Western domination in their oil sector while Nigeria remained wholly dependent on Western equipment and materials for oil and gas activities.

Jonathan said, “ One thing that struck me was that the Western companies discovered oil in commercial quantity in Nigeria in Oloibiri in 1956. But the same Western companies discovered oil in commercial quantity in China in 1958, two years after.

“But as at 2000, most of the needs of the oil industry in China were manufactured locally. But in Nigeria, if any company needs a valve, they must go to their home county. If they need a pin, they must go home.

“So, sometimes, the companies will say, governor, deputy governor, we are investing $1 billion or $500 million in a project in your state. Then you ask yourself, what percentage of that half a billion or one billion really goes to impact the local economy? And you will see nothing, because nothing was being produced here.

“Maybe they hire labourers or small steel boats, which is probably $50 million. Every other thing is spent outside.”

The former president solicited that the organisers of the award should remember and recognise lawmakers that initiated the Local Content bill at the then National Assembly for their good work, especially Maeba. He said it was a time the federal legislature was vibrant.

Jonathan stated, “Let me plead that somebody like Lee Maeba, the originator of that bill, that group is also supposed to be recognised because they’ve done well.

“And that is the time the National Assembly was National Assembly.”

He added that it was a time the National Assembly was courageous enough to override the president’s veto of a bill, citing the Niger Delta Development Commission (NDDC) bill, which former President Olusegun Obasanjo had declined signing into law.

“I use this opportunity to commend Lee Maeba and his team,” Jonathan said.

He also commended the current Executive Secretary of NCDMB, Mr. Felix Ogbe, and his team for keeping the local content flag flying and for keeping the vision of the law intact. 

Jonathan lauded Ogbe’s predecessors that had performed creditably in bringing the policy to the current level.

He said, “I believe that with what you briefed us and what we hear, with the Nigerian Content Law being implemented, I think in the next few years, our activities in the oil industry will continue to improve.

“So, once again, let me thank you again for recognising us and giving us this honour, and those of us who received the award today will remain grateful and we thank you and we will continue to do our best for the country.”

Apart from Jonathan and ������Ƶ, other recipients of the Nigerian content awards included Dangote Refinery, which was recognised as the Downstream Operator of the Year; and Renaissance Africa Energy Company that won the International Upstream Operator of the Year.

Aradel Holdings Plc won the Nigerian Content Independent Upstream Operator of the Year; Nigeria Liquefied Natural Gas Limited (NLNG) bagged the Midstream Operator of the Year; Bank of Industry won the Financial Services Provider of the Year; and Dorman Long won the Indigenous Service Company of the Year. 

TechnipFMC was awarded the Nigerian Content International Service Company of the Year; Managing Director of Renaissance, Mr. Tony Attah, won the Nigerian Content Icon of the Year, while Managing Director of Starzs Gas Limited, Iroghama Ogbeifun, won the Nigerian Content Women in Leadership award for Promoting Women Empowerment.

Minister of State for Petroleum (Oil), Senator Heineken Lokpobiri, who spoke earlier at the opening ceremony of NOGOF, commended NCDMB for initiating programmes that promoted local content in the Nigerian oil and gas industry.

Lokpobiri described the biennial opportunity as a national platform that fostered catalytic investment opportunities cutting across the upstream, midstream and downstream areas of the Nigeria oil and gas industry.

The minister called on all participants at the event to go beyond conversations by initiating partnership and investment decisions that will shape the narrative of the industry and ultimately lead to increased oil and gas production and job creation for Nigerians.

In his keynote address, Executive Secretary of NCDMB, Ogbe, highlighted the significance of NOGOF 2025, saying it coincides with the 15 years of the NOGICD) Act 2010.

According to him, the event will showcase opportunities in the entire oil and gas value chain as well as enable local and foreign investors build synergies in the industry and provide shareholders with credible information on upcoming projects.

The executive secretary announced to the audience that the 5-star hotel being built by NCDMB at the Nigerian Content Tower in Yenagoa would be ready for use at the next NOGOF by 2027 and that the facility would be managed by Radisson.

In her goodwill message, Special Adviser to the President on Energy, Mrs. Olu Verheijen, said the current federal government was building an energy sector to benefit every Nigerian by driving industrialisation and creation of sustainable jobs.

Peter Uzoho

The Dangote Petroleum Refinery & Petrochemicals has reaffirmed that despite the fluctuations in global crude oil prices, it had consistently reduced the price of Premium Motor Spirit (PMS), commonly known as petrol, and would continue to do so in the interest of Nigeria.

The company made this known in a statement issued yesterday, which was signed by its Group Chief Branding and Communications Officer, Anthony Chiejina.

The Aliko Dangote-owned refinery said the decision to maintain price stability reflects its unwavering commitment to supporting the Nigerian economy and alleviating the burden on consumers from the increase in fuel prices by maintaining price stability.

The decision, Dangote said, underscored its dedication to providing affordable, reliable, and high-quality petroleum products without compromising operational efficiency and sustainability.

“Our approach aligns with the objectives of the Federal Government’s Nigeria First policy, which promotes the prioritisation of locally-produced goods and services.

“By refining petroleum products domestically at the world’s largest single-train refinery, we are proud to make a substantial contribution to Nigeria’s energy security, foreign exchange savings, and overall economic resilience—aligning with President Bola Tinubu’s Renewed Hope Agenda, which is focused on addressing the nation’s economic challenges and improving the well-being of Nigerians.

“We are immensely grateful to His Excellency, President Bola Tinubu for making this possible through the commendable Naira-for-Crude Initiative, which has enabled us to consistently reduce the price of petroleum products for the benefit of all Nigerians”, the company said.

The company assured all stakeholders—consumers, partners, and the government—of its continuous dedication to operational excellence and national service.

“Dangote Petroleum Refinery remains committed to ensuring that the benefits of our local refining capacity are fully realised and enjoyed by the Nigerian populace.

“We will continue to prioritise affordability, quality, and national interest in every facet of our work”, it added

Peter Uzoho in Lagos and Blessing Ibunge in Port Harcourt

Worried by continuous delays and frequent timeline misses on the completion of the ongoing rehabilitation of the three national refineries, namely the new Port Harcourt refinery, and the Warri and Kaduna refineries, the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has urged the federal government to establish timeliness on the project.

The association, which expressed concerns over the persistent delays in the completion of the projects by the Nigerian National Petroleum Company Limited (NNPC) and its contractors, called on President Bola Tinubu to intervene and set up a high-level facilitating panel.

PETROAN made the call yesterday in a statement signed by its National Public Relations Officer, Dr. Joseph Obele.

The group said that despite numerous assurances from the NNPC and its officials, the projects have suffered repeated setbacks, with completion deadlines being missed multiple times.

While the group acknowledged and applauded the commencement of the Old Port Harcourt refinery with the capacity of 60,000 barrels per day, it stressed the urgent need for commissioning, transparency, and accountability of the second Port Harcourt Refinery with the capacity of 210,000 barrels per day, the Warri refinery and the Kaduna Refinery.

PETROAN therefore demanded that the NNPC provide a specific and realistic timeline for the completion and commissioning of the refineries, especially the second Port Harcourt Refinery rehabilitation project.

The association argued that when completed, the second Port Harcourt refinery would serve the whole of system 2E, comprising about 13 states, adding that this will reduce the cost of logistics/transportation of petroleum products from Lagos to the system 2E areas.

It said the current cost of transportation was highly exorbitant and affects the affordability of petroleum products in System 2E areas, adding that Nigerians and stakeholders want to know the exact date of delivery of the revamp project.

The statement further read, “The Nigerian people deserve clarity on when they can expect the refineries to commence operations and contribute to alleviating the nation’s fuel scarcity challenges.

“We call on the relevant authorities to ensure that the NNPC adheres strictly to the contract timeline, once provided, and maintains regular communication with stakeholders on the project’s progress.

“Given the worrisome nature of these delays and their far-reaching implications for the nation’s economy and welfare, PETROAN calls on President Bola Tinubu to intervene by setting up a high-level facilitating panel.”

To identify bottlenecks, provide solutions, and ensure the project’s timely completion, the Billy Grillis Harry-led body also suggested that the panel should comprise relevant stakeholders, including representatives from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Nigerian Upstream Petroleum Regulatory Commission (NUPRC), NNPC, Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) and Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN).

Others suggested included the Major Energies Marketers Association of Nigeria (MEMAN), Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN), PETROAN, and other industry experts.

According to the statement, the National President of PETROAN, Harry, stated in Abuja while addressing newsmen that the commencement of operations at the 210,000 barrels per day capacity refinery at Alesa Eleme, the 125,000 barrels Warri refinery, and the 110,000 barrels per day Kaduna Refinery will improve Nigeria’s petroleum sufficiency and positively impact price stability.

However, he lamented that the project was running behind schedule.

“The continuous delay in the completion of the Port Harcourt Refinery rehabilitation project and other refinery projects is unacceptable, and Nigerians deserve to know when the projects will be completed. The huge amount borrowed for the projects should be a serious concern to all citizens, and we will demand accountability for every naira spent on this project,” the PETROAN president stated.

PETROAN commended Tinubu for appointing Bayo Ojulari as the Group Chief Executive Officer of NNPC, describing him as a round peg in a round hole.

The association called on the GCEO to see this glorious appointment as a call to national duty and put in his best to save the industry.

PETROAN noted that the current vacancy in the office of the Managing Director of the Port Harcourt Refinery could be a significant barrier to the project’s progress.

It recommended that the Group Chief Executive Officer of NNPC should appoint a substantive managing director for the Port Harcourt Refinery in the shortest possible time.

“This appointment would provide the necessary leadership and direction to drive the project forward and ensure its timely completion.

“The prolonged delay in the refinery’s completion not only undermines the nation’s efforts to achieve self-sufficiency in petroleum products but also exacerbates the economic hardship millions of Nigerians face.

“It is imperative that decisive action is taken to bring this project to fruition without further delay,” the statement concluded.

Meanwhile, the National President of PETROAN, Dr.Billy Gillis Harry, while speaking with journalists, stated that the commencement of operations at the 210,000 barrels capacity refinery at Alesa Eleme would improve Nigeria’s petroleum sufficiency and impact positively, price stability.

Harry lamented that the project was delaying beyond schedule, stressing that, “The continuous delay in the completion of the Port Harcourt Refinery rehabilitation project is unacceptable, and Nigerians deserve to know when the project will be completed.”

He said: “The huge amount borrowed for the project should be a serious concern to all citizens, and we will demand accountability for every naira spent on this project.”

Peter Uzoho

The federal government has begun moves to reform and revitalise Nigeria’s electricity distribution sector, starting with a pilot overhaul of two underperforming Distribution Companies (Discos).

The move followed a comprehensive assessment of systemic challenges plaguing the Discos, including governance gaps, infrastructure deficits, and commercial inefficiencies.

Minister of Power, Chief Adebayo Adelabu, disclosed the plan yesterday in Abuja after a meeting with the Japanese International Cooperation Agency (JICA), which presented a roadmap titled, “Revamping of the Distribution Sector in Nigeria.”

According to a statement by the minister’s Special Adviser on Strategic Communications and Media Relations, Mr.  Bolaji Tunji, the pilot scheme, slated to commence between May and August 2025, will target one Disco in the North and another in the South.

The scheme aimed to demonstrate a replicable model for operational turnaround, combining internal restructuring, external expertise, and federal oversight to achieve rapid improvements in service delivery.

JICA’s proposal emphasised reforming Discos “from within”, by integrating outside experts, strengthening leadership, and aligning government support with short-term results in pilot zones to lay the groundwork for long-term sector-wide transformation. 

Adelabu stressed the urgency of the intervention, stating, “We can no longer fold our hands and watch the inadequacies of DisCos whose performances fall short of expectations. This pilot is not optional – we will use regulatory authority to restructure underperforming Discos and compel compliance if necessary.”

He acknowledged persistent resistance to past reforms, but vowed to address both universal challenges – such as vandalism and governance – and region-specific issues, including cultural barriers hindering operations. 

Adelabu said key to the initiative was resolving the Discos’ inability to invest in infrastructure upgrades.

He stated, “Their lack of investment is not solely due to unwillingness but also a lack of incentives.

“Returns on infrastructure spending are not commensurate, so we must attract investors and franchise in viable and the not so viable areas to capable operators, so we can have a mix.”

He directed the Nigeria Electricity Regulatory Commission (NERC) to enforce franchising opportunities and ensure Discos’ cooperation, stating, “NERC must secure their buy-in. Past efforts failed due to resistance, but this time, we will be intentional and decisive.” 

The minister also highlighted the need for public education to clarify the roles of generation, transmission, and distribution entities.

“Many Nigerians still view the sector as a single entity. Educating consumers is critical to building trust and support for these reforms,” he added. 

JICA’s proposal, developed after the minister’s earlier visit to Japan’s energy market, underscored a “holistic approach” to revamping distribution, including proactive government-JICA collaboration and measurable milestones.

JICA’s Power Sector Policy Advisor to Nigeria, Takeshi Kikukawa, acknowledged during the presentation, “The goal is to deliver immediate results in pilot areas while creating a sustainable foundation for nationwide improvement.”

The Federal Ministry of Power and NERC will finalise pilot details in the coming months, prioritising Discos with acute operational deficits.

The initiative marks the most robust effort to date to resolve power distribution crisis, signalling a renewed push for accountability, investor confidence, and reliable electricity access.