Peter Uzoho      

Aradel Holdings Plc has delivered a significant first half in 2026, with group production rising 523 per cent to an average of 139,500 barrels of oil equivalent per day  (kboepd). 

The surge, driven by acquisitions and improved asset uptime, powered gross revenue up 577 per cent to N2.49 trillion and generated record operating cash flow that cut net debt by 70 per cent.  

In its unaudited results for the six months ended June 30, 2026, signed by the Chief Financial Officer, Adegbola Adesina, Aradel  highlighted how its enlarged portfolio is translating into scale, profitability and stronger cash generation.  

According to the report, average daily crude oil output rose 258 per cent to 55.6 kbopd from 15.5 kbopd in H1 2025. 

Gas production recorded the sharpest growth, climbing 1,121 per cent to 503.2 million standard cubic feet per day (mmscf/d) from 41.2 mmscf/d, supported by improved pipeline availability and sustained customer offtake. 

The company said total working-interest production for the period was 25.2 million barrels of oil equivalent (mmboe), compared to a much smaller base in the prior year.  

Aradel attributed the growth to integration of assets acquired in 2025 and to operational initiatives that reduced downtime across key fields.

The company said it also benefited from a firmer price environment, reporting an average realised price of $90.4 per barrel for crude and $2.08 per mmscf for gas during the half.  

It added that gross revenue rose to N2,491.5 billion from N368.1 billion in H1 2025 while gross profit jumped 782 per cent to N1.44 trillion

Peter Uzoho

Chevron Nigeria Limited (CNL) has called for stronger collaboration across  government, regulators and industry operators as the foundation for building a resilient oil and gas sector that can deliver growth, jobs and energy security for Nigeria.  

Speaking at the just-concluded 49th Nigerian Annual International Conference and Exhibition (NAICE) in Lagos, Managing Director of Chevron Nigeria Limited, Mr. Jim Swartz, said the scale of Nigeria鈥檚 opportunity means no one player can deliver it alone.  

鈥淐ollaboration is essential because no single company, institution, or stakeholder can address the opportunities and challenges of the intersector alone. And technology will remain a key driver of safer operations, stronger performance, and the future that we will deliver. For Nigeria, the opportunity is significant,鈥� Swartz said. 

Held under the theme 鈥淭hriving in the Evolving Global Energy Landscape: Collaborative Growth and Resilience,鈥� the conference focused on how Nigeria can compete for capital and sustain production amid global volatility.  

Swartz outlined four pillars he said will define a resilient energy future including continued investment, enabling long-term policies, competitive local capacity development, and strong partnerships.  

鈥淏uilding a resilient energy future requires continued investment, enabling policies that are resilient for the long-term, local capacity development that’s competitive and durable as well, and strong partnerships across governments, regulators, industry, and the technical community,鈥� he said.  

He traced Chevron鈥檚 footprint in the country to more than six decades, noting the company鈥檚 role in building the foundation of the industry and in developing technical capacity.  

Peter Uzoho

Nigeria鈥檚 plan to postpone a market-based gas pricing regime by up to two years is already drawing pushback from industry, with experts warning the delay risks stalling the development of the Non-associated Gas (NAG) fields critical to the country鈥檚 energy and industrial future.  

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) had said last week in Lagos that the transition to a willing buyer, willing seller framework will take effect in the next year or two as infrastructure expands and market access improves.  

Chief Executive of NMDPRA, Mr. Rabiu Umar, however, acknowledged the frustration of producers, but stated that: 鈥淲e haven’t reached that level of maturity.鈥� 

But speaking with 糖心视频, Group Chief Executive Officer of HSI Energies Limited and former Chairman of the Society of Petroleum Engineers (SPE), Mr. Chikezie Nwosu warned that the deferring transition to a market-based price regime will stall development of NAG fields in the country  

According to him, associated gas will continue to flow as long as oil is produced but the problem is reliability.  However, Nwosu argued that the associated gas production cannot be totally relied on because as oil production declines, the associated gas production will also be affected.

He explained that gas buyers need long-term certainty, adding that power plants, fertiliser factories and petrochemicals typically contract gas on 15 to 20-year bases, which cannot be delivered efficiently from associated gas alone.  

鈥淪o, if the pricing of gas is not on a willing buyer, willing seller basis and is regulated, it will not encourage the development of non-associated gas reservoirs. That’s where the challenge lies,鈥� Nwosu said.  

Also, geologist and Publisher of Africa Oil+Gas Magazine, Mr. Toyin Akinosho noted the tension between producers and the power sector, telling 糖心视频 that the gas producers are yearning for quick transition to a willing buyer, willing seller price regime while the power companies are strongly opposed to it.

鈥淭he producers want it quickly, but I can assure you that the electricity companies don’t want it at all. It’s the electricity lobby that is slowing it down,鈥� Akinosho said.  

Peter Uzoho

Major cooking gas offtakers made an excess N1,600 markup on every kilogramme of Liquefied Petroleum Gas (LPG) bought from Nigeria LNG Limited (NLNG), buying at N800 per kg and selling to Nigerians at N2,400 per kg during the scarcity that occurred in recent months, NLNG Limited has revealed.

It said that some of the offtakers were hoarding product at terminals and creating artificial scarcity, a practice that pushed prices far above regulatory benchmarks and inflicted hardship on households across the country.  

Managing Director and Chief Executive Officer, Mr. Adeleye Falade, disclosed this at the NLNG Facts & Figures Presentation in Lagos.  

鈥淲hat we found out is that a number of people who take products, they will put it in their terminal, and they are part of those that have created the artificial scarcity that has led to the price increase. When the product was being sold at N2,400 per kg in the market, guess how much they were lifting it from us? It was between N800 and N900 per kg,鈥�  Falade stated.

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) had recommended that after transportation costs, retail prices should not exceed N1,000 to N1,200 per kg.  

鈥淪o there’s also some distortion that happened on the sales side, which I know the regulators are working on right now to get control of it,鈥� Falade added.  

NLNG supplies LPG to the Nigerian market through its vessel, Alfred Temile. More than 15 terminal owners offtake the product as middlemen before selling in bulk to gas plant operators and independent petroleum marketers.  

The hoarding at terminal level, according to NLNG鈥檚 assessment by one of the big four consulting firms, meant product was not getting to retailers fast enough, tightening supply and inflating prices.  

In response, NLNG said it has changed its allocation strategy. 鈥淪o preference for us is not for those kinds of people, but those that can supply directly to the retailers,鈥� Falade said. The new ranked order prioritises offtakers with storage capacity and a proven direct-to-retail network.  

Despite the scarcity at retail level, Falade said NLNG did not have a problem around infrastructure or capability to move its product to the market. 

“That’s not a limitation for us… We sell all of our products. We actually have more demand than we’re able to sell. Our challenge was not that people were not able to take the product. Every cooking gas that we made, we had buyers,鈥� he said.  

He acknowledged industry-wide infrastructure deficits but said they have not reached the point of stranding NLNG鈥檚 output. 鈥淭here is an infrastructure deficit, but it hasn’t played itself to the point where we become stranded with the product that we have made. No, we haven’t seen it to that extent.鈥�  

Annual LPG consumption in Nigeria has grown to 1.8 million tons in 2026 from 1.5 million tons in 2023, underscoring rising dependence on cooking gas as households shift away from firewood and kerosene.  

To ease pressure on prices, NLNG said the completion of Train 7 will be the immediate game-changer.  The $5 billion project is progressing at Bonny Island in Rivers State with about 16,000 people working daily.  

The completion of the Train 7 is going to increase the company’s LNG capacity by 35 per centIt, taking it from 22 MTPA to 30 MTPA. Aside from LNG, the project will also increase NLNG’s LPG production by 50 per cent.

Last year NLNG supplied 500,000 tons of LPG to the domestic market. With Train 7 on stream, an additional 250,000 tons will be added annually, taking the total annual supply to 750,000 tons,鈥� the CEO said.

The extra volume is expected to improve availability and moderate the price volatility that has plagued the market in recent months.  

Falade said NMDPRA is already working to rein in the LPG market distortion with introduction of NLNG鈥檚 ranked offtaker system that is also designed to cut out middlemen who warehouse product instead of distributing it.  

Beyond LPG, NLNG said it is fast-tracking a 1.1 MTPA domestic LNG supply project targeted at industries and transport.  

The company had in June 2021 announced its plan to begin supplying LNG to the domestic market with an initial 1.1 million metric tons from July 2022. The company went ahead to sign an offtake agreement with three companies including  However, that project has been stalled.

Falade said the project remained on course.  鈥淲e do have a project already working around the domestic LNG supply… It hasn’t changed from the 1.1 MTPA that was declared at that point in time. We are behind on schedule, but we’re still working on it,鈥� Falade said.  

Peter Uzoho

Last Tuesday morning, at the Force Headquarters in Abuja, two gleaming buses rolled in, not on diesel, not on petrol, but on Compressed Natural Gas (CNG). It was indeed a remarkable day, as Sterling Oil Exploration and Energy Production Company Limited, (SEEPCO), one of the independent energy companies in Nigeria, was handing over the keys to the buses to the Nigeria Police Force.

The excited, grateful Inspector-General of Police (IGP) Olatunji Riliwan Disu, did the unveiling alongside Sterling Oil鈥檚 Managing Director and Chief Operating Officer, Mohit Barot.

Around them stood senior Force officers and a Sterling Oil delegation led by Head of 糖心视频 Development, Raj Bhargava, the company鈥檚 Public Relations Officer, and other executives.

For the Police, the donation is immediate and practical. IGP Disu described the buses as a welcome addition to the Force鈥檚 logistics capacity, saying they would improve personnel mobility and support officer welfare.

He also commended what he called the growing role of private-sector partnerships in strengthening the operational efficiency and service delivery of security institutions.

For Sterling Oil, it was about something bigger than vehicles.

Speaking at the event, Mr. Barot framed the gesture as an extension of the company鈥檚 sustainability philosophy. Rather than hand over conventional fuel vehicles, Sterling Oil chose CNG.

The reason, he explained, was simple: CNG burns more cleanly, emits significantly less carbon dioxide, nitrogen oxide and particulate matter, and costs considerably less to run. Those, he said, were the same benefits the company seeks for itself.

鈥淭his donation is more than a corporate gesture,鈥� Barot said. 鈥淚t reflects how cleaner transport and corporate sustainability can come together to support Nigeria’s public institutions, and it’s consistent with the standard we hold ourselves to across our own operations.鈥�

A company already running on gas, that standard is visible across Sterling Oil鈥檚 operations. The Abuja donation is not an isolated Corporate Social Responsibility (CSR) act. It is the latest chapter in a deliberate, company-wide shift toward cleaner energy.

Start with the fleet. Today, more than 90 percent of Sterling Oil鈥檚 heavy- and light-duty vehicles run on natural gas. The remaining few are slated to transition to CNG or electric vehicles. The company reports that this switch alone has cut annual carbon dioxide emissions by more than 39,000 tonnes and reduced diesel consumption by roughly 290,500 litres every month.

Then there is the water. In the Niger Delta, where oil spills have scarred rivers and wetlands for decades, Sterling Oil has completed a full upgrade of its 33-barge marine fleet to double-hull systems. It is an internationally recognised design meant to contain cargo even in an accident, directly reducing the risk of spills into fragile ecosystems.

On land and in communities, the impact is measured in litres saved. Through cleaner fuel initiatives, the company reports annual savings of more than 500,000 litres of Premium Motor Spirit (PMS) known by most Nigerians as petrol. The initiatives have benefited host communities and supported emergency electricity supply using natural gas.

The numbers on emissions are also moving as Sterling Oil has achieved an 18 percent reduction in routine gas flaring and has deployed methane leak-detection technology capable of cutting fugitive emissions by up to 80 percent.

The oil and gas producer has also put in place spill-response systems designed to contain incidents exceeding 300 barrels on both land and water.

Safety, too, is part of its story, as the company reports a 100 percent incident-free drilling record over the past five years, alongside full compliance with statutory dispersant regulations.

By giving the Police CNG buses instead of diesel alternatives, Sterling Oil is essentially exporting its fleet strategy. Lower emissions, lower running cost, same mobility.

For a security agency that moves personnel daily across Nigeria’s 36 states and Abuja, the savings on fuel and maintenance can be redirected to other operational needs, while the air quality benefit is a bonus for officers and the public.

IGP Disu鈥檚 remarks suggested the Force sees the value. Beyond thanking Sterling Oil, he pointed to a wider trend: companies stepping in to fill critical logistics gaps. In a period of tight budgets, such partnerships are becoming a lifeline for mobility, training and welfare.

Not tired of such gesture, Sterling Oil says this is not the end. The company intends to continue exploring partnerships that advance cleaner transport and environmental stewardship across the communities and institutions it works with. The police donation, Barot noted, is one part of a broader long-term sustainability agenda.

That agenda sits within Sterling Oil鈥檚 identity as an indigenous oil and gas company operating in Nigeria. Its stated commitment is to safe, responsible and increasingly cleaner energy operations across upstream, marine and logistics activities.

From cutting diesel by hundreds of thousands of litres a month, to double-hulling barges in the Delta, to putting CNG buses on the road for the Police, the message is consistent: cleaner is possible, and it can scale.

As the two new buses pulled out of Force Headquarters, they carried more than officers. They carried a proof point that in Nigeria鈥檚 energy transition, the private sector can help steer, one vehicle, one community, one partnership at a time.

Peter Uzoho

Sahara Group has called for a fundamental rethinking of how Africa approaches energy transition, infrastructure financing and energy journalism, urging stakeholders to embrace solutions that reflect the continent鈥檚 realities while building the partnerships, institutions and investments required for long-term development.

The call formed the central thrust of discussions at the third edition of Asharami Square, a Sahara Group thought leadership initiative held in Lagos under the theme:鈥淓nergising Africa鈥檚 Future: Legacy, Impact and Transformation.鈥�

In her opening remarks, Director, Governance and Sustainability, Sahara Group, Ejiro Gray, said the company鈥檚 Beyond XXX vision was rooted in looking ahead rather than dwelling on past accomplishments.

Gray noted that Africa鈥檚 energy future must be shaped by local realities and called for more balanced, evidence-based journalism capable of interrogating the complexities of energy transition, development and sustainability.

鈥淓ffective journalism should not only tell us what happened; it should help us understand why it matters, whose interests are affected and what perspectives are missing from the conversation”, she said.

Delivering the keynote address, Special Adviser to the President on Power Infrastructure, Sadiq Wanka highlighted the opportunities emerging within Nigeria鈥檚 electricity sector as reforms continue to open new pathways for investment.

鈥淭he issue is no longer technology. The real challenge is mobilising capital at scale, structuring bankable opportunities and creating an ecosystem that attracts long-term financing,” he said.

Wanka said reforms across the sector were creating opportunities in embedded generation, mini-grids, renewable energy, transmission infrastructure and industrial power solutions, while urging journalists to delve deeper into policy reforms, investment opportunities and implementation outcomes.

A panel session featuring the Director, Institute of Continuing Education, University of Lagos, Prof. Abigail Ogwezzy-Ndisika;
Chief Executive Officer of Lagos State Electricity Regulatory Commission (LASERC), Mrs Temitope George; Managing Director, Investment Banking, Chapel Hill Denham, Kemi Awodein; and moderated by the, Associate Editor, Africa, Argus Media,
Adebiyi Olusolape, explored the question on “Who is financing Africa鈥檚 energy future?”

The panelists agreed that Africa possesses significant pools of capital capable of supporting infrastructure development, but that unlocking investment requires stronger governance, investor confidence and better project preparation.

Speaking on journalism and accountability, Ogwezzy-Ndisika called for more rigorous and solutions-focused reporting.

鈥淓nergy reporting must go beyond headline events and announcements. Journalists need to ask deeper questions, examine the evidence and connect policy decisions to their impact on communities and everyday lives”, she said.

George emphasized the importance of investment readiness, noting that well-structured and thoroughly prepared projects are more likely to attract funding.

Drawing from her experience in infrastructure finance, Awodein underscored the role of governance in unlocking capital.

鈥淣igeria has demonstrated that domestic capital can finance transformational infrastructure at scale. The real differentiator is governance, transparency and a clear pathway to value creation”, she noted.

The event also featured the unveiling of the Asharami Square Energy Reporting Fellowship Judging Panel, reinforcing Sahara Group鈥檚 commitment to strengthening energy journalism and fostering more informed reporting on Africa鈥檚 energy future.

Speaking on the initiative, the Head, Corporate Communications, Sahara Group,
Bethel Obioma, said the Fellowship was designed to deepen journalists鈥� understanding of the technical, commercial, environmental and policy issues shaping the energy sector.

鈥淭hrough the Asharami Square Energy Reporting Fellowship, we are investing in the capacity of journalists to tell more solutions and evidence-based stories that reflect the realities, opportunities and challenges of Africa鈥檚 energy transition”, he said.

Obioma said the Fellowship aligns with Sahara Group鈥檚 Beyond XXX vision of investing in people and platforms that will help shape Africa鈥檚 future, adding that Prof Ogwezzy-Ndisika will serve as the lead assessor for the programme.

Since its launch in 2024, Asharami Square has continued to advance informed dialogue, strategic partnerships and practical solutions that support Africa鈥檚 evolving energy landscape and reinforce Sahara Group鈥檚 commitment to delivering impact beyond its first three decades.

Peter Uzoho

Nigeria will not attract the billions of dollars needed to develop gas infrastructure and accelerate supply to domestic market unless government and industry stakeholders fixed credible demand and credit risk, especially in the power sector.

Group Managing Director of Levene Energies Limited, Nneka Arowolo, stated this while speaking on a panel at the 2026 NOG Energy Week in Abuja on realizing future gas economies.

Arowolo stressed that Nigeria鈥檚 problem was not gas supply but bankable demand and payment discipline.

She told the session that while gas aggregators should handle pooling demand, aggregating supply, managing credit risk and coordinating logistics, sequencing and prioritizing the tasks were critical.

She explained that industry conversations had already established that supply was not the issue, noting that Nigeria has abundant gas reserves and ranked among the top 10 globally.

She argued that supply has to be underpinned by credible demand, insisting that producers would not commit billions of dollars to build facilities to produce and process gas for domestic delivery obligations without assurance that there is a sustainable and reliable off-taker at the end of the pipeline.

The Levene Energies GMD maintained that credible demand was essential to ensure that gas would be taken and paid for, so that production would not be shut in due to the inability to evacuate it. She added that creditworthiness was equally critical and has to be prioritized.

Referencing the Decade of Gas target of 12 billion cubic feet per day (bcf/d) by 2030, with 8 bcf/d projected for the power market, she questioned whether the sector had resolved its liquidity problems and creditworthiness issues.

She equally asked if customers could take the gas and whether transmission and grid capacity constraints had been removed.

Arowolo stressed that the industry needed to fix creditworthiness and all the constraints that would enable gas to reach end users on the demand side, warning that logistics and supply would be irrelevant if those issues were not addressed.

She said the focus should be on everything but sequenced, with demand and its associated constraints tackled before supply and logistics.

She profiled Levene Energies as a fully integrated energy firm that started in the downstream before backward integrating into the upstream. She noted that Levene is part owner of Falcon Corporation and also holds a 30 percent stake in Axxela.

With Axxela operating over 400 kilometers of pipeline as Nigeria鈥檚 biggest private gas distributor across Lagos, Ogun, Port Harcourt and into Togo, she said the priority was having an off-take market and developing demand at the end of the pipeline.

Arowolo explained that the company needed commercial and industrial customers who could take the gas and pay for it reliably.

On regulation, she emphasized that the body language of the regulator has to be clear and that the regulator has to be an enabler. She said investors would commit capital if the rules of the game were clear and the regulator did what it promised.

She called for a regulatory framework that will help investors mitigate risk, with a sure path where commitments and investments will be protected and stability guaranteed.

Other panelists corroborated her position as Falcon Corporation鈥檚 General Manager, Commercial, Olufemi Rufai agreed that the gas aggregator –Gas Aggregation Company of Nigeria (GACN) had performed well but was not capitalized to cover credit risk, particularly for the power sector.

Rufai said the industry has to be deliberate about the issue, adding that relevant government agencies needed to step up and fund the shortfall rather than leave the risk to market participants.

He warned that without a decisive solution, growth plans would be constrained, noting that most current volumes were driven by export projects which served as anchor demand while domestic supply remained complementary.

He stated that projects locked into the domestic market struggled to be economic without resolving the power sector liquidity problem.

A member of the Nigerian National Petroleum Company Limited (NNPC)鈥檚 Gas Master Plan Implementation Assurance Tean, Ekpei Ukam, said Nigeria does not have a resource issue but needed disciplined execution, integrated infrastructure development, bankable markets and a collaborative approach across the value chain.

Peter Uzoho

Stakeholders in the Nigerian oil and gas sector joined Falcon Corporation Limited, one of Nigeria鈥檚 leading indigenous gas companies to celebrate the legacy, career, and leadership of the company鈥檚 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鈥檚 gas sector, delivering energy solutions that power homes, industries, and businesses nationwide.

Widely regarded as a 鈥淕as Man to the Core,鈥� 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 鈥渞ecognition of his years of service and the enduring standards he established 鈥� 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鈥檚 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.

鈥淧rofessor Ezigbo exemplifies leadership rooted in service, empathy, and integrity, leaving an imprint that extends far beyond titles and positions,鈥� Nwobu said.

Others guests shared heartfelt tributes reflecting Ezigbo鈥檚 mentorship and influence across sectors, praising his ethical leadership and lasting contributions to Nigeria鈥檚 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鈥檚 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鈥檚 long-standing commitment to innovation and customer-centric solutions.

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

鈥淲ith this solution, we are delivering greater convenience, control and security to both individual customers and businesses of all sizes,鈥� Seye said.

He noted that the launch underscores TotalEnergies鈥� 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鈥檚 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.

鈥淥ur focus goes beyond disbursing grants,鈥� Programme Supervisor, Sahara Group Foundation, David Ayinde, said during the Awards and Gala Night.

In her remarks, Director, Sahara Group Foundation, Chidilim Menakaya, said: 鈥淲e 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.

鈥淏y reinventing the Sahara Impact Fund and elevating the MADAA programme, we are closing the loop between discovery, support, and scale,鈥�

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 鈥渢ransformative impact across the continent with the added incentive of scaling their businesses for global competitiveness.鈥�

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

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 糖心视频 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 糖心视频 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 Schr枚dinger 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鈥檚 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: 鈥淭he 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.鈥�

Reiterating Sahara Group Foundation鈥檚 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.

鈥淎t 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,鈥� 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, 鈥淭he 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.鈥�

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鈥檚 sustainability values.

“Seeing the hub鈥檚 impact from promoting recycling habits to empowering the community, reinforces how small actions can drive real change. We鈥檙e proud to be part of this initiative.鈥�

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: 鈥淥ur 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.鈥�

Sahara Group Foundation plans to expand the Go Recycling Initiative to more communities in Lagos and across Africa, reinforcing its mission of 鈥淏uilding Sustainable Communities through EXTRApreneurship.鈥�

Peter Uzoho

The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has renewed the federal government鈥檚 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鈥檚 progress underscores the importance of expanding support mechanisms to enable more Nigerian-owned companies to scale capacity and deepen their participation in the country鈥檚 offshore and marine logistics sector.

The minister said, 鈥淥ver 70 companies have accessed the NCI Fund, yet only 21 have fully repaid their loans 鈥� 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鈥檚 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鈥檚 oil and gas sector.鈥欌��

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.

鈥淭oday 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鈥攆rom a small operator to a major marine logistics service provider鈥攊s 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鈥檚 commitment to strengthening indigenous capacity in offshore marine logistics.

He Ovbiebo said, 鈥樷�橶e 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 鈥� 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 鈥� all purpose-built and carefully selected, to safely deliver our hallmark excellent services of reliability and efficiency. 鈥樷��

The event themed 鈥淐elebration of Growth and Impact鈥� 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 鈥� 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鈥檚 goal of achieving 70 per cent local content by 2027.

Beyond business growth, these initiatives underscore Tamrose鈥檚 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鈥檚 industrial competitiveness.

鈥淭he Eligible Customer framework is designed to strengthen Nigeria鈥檚 industrial growth by guaranteeing efficient, reliable, and affordable electricity directly from our plants to businesses

鈥淧hoenix 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鈥檚 commitment to expanding the initiative to more industrial clusters across the country.

Companies currently benefiting from NDPHC鈥檚 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鈥檚 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鈥檚 remarkable growth trajectory since its establishment in 2015.

Reflecting on the company鈥檚 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.

鈥淭he naira devaluation hit retailers hard, making devices expensive and slowing sales. During the pandemic, people couldn鈥檛 buy as much, but later realised the need for better devices for virtual meetings 鈥� and business picked up again,鈥� he said.

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

鈥淥ur vision is to be present in every state and eventually across Africa. We鈥檙e already in Lagos, Oyo, Abuja, and Kaduna, but our eyes are set on expanding further 鈥� into other regions where the demand for quality technology is strong.

“Ironically, what discourages others is what gives me confidence. Africa鈥檚 potential is enormous 鈥� 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.

鈥淲e鈥檝e survived 10 years in a challenging market. By God鈥檚 grace, in the next 10, we鈥檒l not just be in every state in Nigeria, but across Africa 鈥� empowering people and redefining the electronics retail experience,鈥� he said.

Peter Uzoho聽

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 糖心视频.

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 鈥渁nother defining moment in Lagos鈥� journey towards a reliable and sustainable electricity market,鈥� stressing that the Commission would continue to uphold independence, transparency, and service to Lagosians.

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

鈥淏y expanding competition, Lagosians can look forward to better access, improved reliability, and affordable electricity supply,鈥� 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.

鈥淭he emphasis is on the commercial component, which is improving on collection efficiency and billing efficiency.鈥�

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鈥檚 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鈥檚 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鈥檚 penetration programmes for deepening the domestic market for mass deployment of various specifications of gas for cooking, commercial and other purposes.

All the company鈥檚 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.

鈥淭his 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,鈥� she stated.

鈥淥ur mission is not just to power homes and businesses; it鈥檚 to empower communities,鈥� Opeke added.

Explaining the company鈥檚 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鈥檚 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鈥檚 Annual Lecture Series on Friday, October 3, 2025, at the Honeywell Auditorium, Lagos 糖心视频 School, Pan-Atlantic University.

Themed 鈥淣ext Generation Leadership in Monetary Policy and Nation Building,鈥� the lecture marks the launch of a flagship platform under the CBN Governor鈥檚 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鈥檚 leadership at the CBN, a milestone reflecting reforms that have stabilized the naira, improved key economic indicators, and restored international investor confidence in Nigeria鈥檚 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 糖心视频 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鈥檚 macroeconomic stability but also to investing in the next generation of leaders who will sustain and build on today鈥檚 progress.

鈥UBO, 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: 鈥淧owering Nigeria: Financing and Scaling Renewable Energy鈥�, 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 鈥淯nlocking Capital Flows: Innovative Structures for Renewable Energy Finance,鈥� 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.

鈥淥ne 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.

鈥淚n that way, you would scale operations and also cover a lot of business. So, it鈥檚 something that I see waiting for us in the future and could happen,鈥� 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.

鈥淎s 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.

鈥淏ut 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,鈥� 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鈥檚 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.

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

鈥淪o solar is now cheaper than some other energy sources. I know that is debatable, but that鈥檚 our reality, and I鈥檓 sticking to that.

鈥淏ut it鈥檚 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,鈥� 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.

鈥淭here should be some level of skill in the game. So, you can鈥檛 be asking an investor to give you N10 billion when you don鈥檛 have one to N5 billion of your own money.

鈥淭hat then gives the investor some level of certainty that you know what you鈥檙e doing,鈥� 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鈥檚 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鈥� 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鈥檚 long-term vision for community empowerment.

鈥淎s an integrated energy company, we know that renewable and sustainable energy must serve a greater purpose 鈥� building stronger, more resilient communities. Our investment in literacy is an investment in the next generation of leaders, innovators, and problem-solvers,鈥� 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鈥檚 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.鈥揂frica Energy Forum and the Namibia International Oil & Gas Conference 2025.

At both fora, Heirs Energies showcased its strategy of responsibly harnessing Africa鈥檚 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鈥� vision, Igiehon emphasized that: 鈥淎frica 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.鈥�

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

Following USAEF, Heirs Energies extended its strategic engagement to Namibia, one of Africa鈥檚 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鈥檚 future, he noted: 鈥淭his visit marks the beginning of a long-term engagement, with many more interactions to come as we explore opportunities to contribute meaningfully to Namibia鈥檚 energy story.鈥�

Heirs Energies鈥� 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鈥� anchoring philosophy of Africapitalism, championed by its Founder and Group Chairman, Tony Elumelu.

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

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 鈥� “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 鈥� 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鈥檚 leading indigenous-owned integrated energy company, committed to meeting Africa鈥檚 unique energy needs while aligning with global sustainability goals.鈥�

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鈥檚 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.

鈥淥ur 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,鈥� 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鈥攆ormalised during an exclusive high-level event in London鈥攗nderscores Genesis Energy鈥檚 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鈥檚 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鈥檚 unwavering commitment to accelerating sustainable clean energy access and the company鈥檚 mission of “Lighting Up Africa One Community at a Time鈥�. 

He remarked: 鈥淎t 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鈥檚 vital role in closing Africa鈥檚 energy gap.鈥�

Co-Founder and Chief Policy, Impact, and Global Affairs Officer, Global Citizen, Michael Sheldrick. stated, 鈥淎ccess 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.

鈥淭ogether, with GENESIS Energy we鈥檙e 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.鈥�

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.

鈥淏ecause 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,鈥� 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.

鈥淭he energy charge component of the power tariff must be able to cover the cost of maintaining the assets. If operators can鈥檛 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鈥檚 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鈥檚 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鈥檚 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鈥檚 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: 鈥淚t 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.鈥�