Seplat Energy PLC, leading Nigerian independent energy company listed on both the Nigerian Exchange and the London Stock Exchange, says Nigeria’s sub-surface potentials could be largely optimized and oil/gas production levels increased if divestment and other related deals are expedited.
The CEO Seplat Energy, Mr. Roger Brown, said this at the 2024 NOG Energy Week Conference & Exhibition recently held in Abuja.
Mr. Brown, who spoke during a panel session dubbed ‘Defining the Regulatory Frameworks Required to Support the Capabilities of Independents and Incentivise Growth’ said success of Nigerian Independent energy companies will benefit Nigeria through oil revenues and the development of a domestic gas-to-power industry, thus helping to fund expansion into renewable energy to help Nigeria increase energy access and unlock its entrepreneurial population by providing reliable and affordable energy in accordance with the UN Sustainable Development Goals.
The Seplat Energy CEO said: “International Oil Companies (IOCs) will look to divest to credible local players, those with high levels of governance and accountability in their ESG efforts. Indigenous players also need strong balance sheets and credibility in international financial markets, because the assets they’re acquiring will doubtless need future development.
“Also, indigenous companies must commit to working with communities to maintain or increase Nigerian content, as Seplat Energy has been doing for many years.”
Speaking to the country’s energy aspirations, he said the independents will play a key role in realising the aspirations of the “Decade of Gas”, adding that strong governance framework is needed to support bankability of private sector direct participation/investment in this space.
Nigeria’s biggest decarbonisation priority is to end small-scale generation and get households and businesses onto a reliable national grid that uses our gas resources, lowers the cost of electricity and allows renewable energy to be developed and connected into a nationwide grid.
Seplat Energy is committed to ending routine flaring by the middle of next year and we urge all other producers to make this a priority.
Seplat Energy’s new ANOH gas plant can supply enough gas to support more than 1GW electricity on the grid and this can displace hundreds of thousands of home generators; so, it will reduce the cost of electricity and hopefully get rid of these expensive and highly polluting generators, which are just a huge drag on Nigeria’s economy and which create massive problems with carbon emissions.
Access Bank Appoints Uche Orji as Independent Non-Executive Director
AJAGBE ADEYEMI TESLIM
SPONSORED BY: H&H
Access Holdings Plc (‘the Company’) is pleased to announce the appointment of Mr. Uche Orji as an Independent Non-Executive Director of its flagship subsidiary, Access Bank Plc (‘the Bank’), effective from January 7, 2025, following the approval of the Central Bank of Nigeria (‘CBN’).
orji
This appointment reflects our commitment to enhancing our governance practices and ensuring a diverse and experienced board.
Mr. Orji is a renowned investment banking professional, information technology entrepreneur, and finance expert with three (3) decades of professional and board experience. He is the Co-founder and Partner of Titangate Capital Management, an equity firm that invests in deep-tech, enterprise software, semi-conductors, hardware, and artificial intelligence companies.
He is the Founder and Director of Vitesse Africa Limited, an investment advisory firm focused on African energy, technology and infrastructure sectors. He serves as an Executive Board member and investor in Ultrasafe AI, an artificial intelligence/IT development firm that maintains strategic collaborations with leading technology companies. He also sits on the Board of Private Infrastructure Development Group, London, and chairs the Risk Committee.
Previously, Mr. Orji served as the founding Managing Director and Chief Executive Officer of Nigeria Sovereign Investment Authority. He held positions as Managing Director and Senior Analyst at UBS Securities Limited New York and Managing Director and Head of European Technology/Semiconductor Equity Research at JP Morgan Securities, London. He also served as Executive Director/Portfolio Manager at Goldman Sachs Asset Management, London. Earlier in his career, he was Acting Financial Controller at Diamond Bank Limited and an Audit Trainee at Arthur Andersen & Co.
He holds a Bachelor of Engineering Degree in Chemical Engineering from the University of Port-Harcourt and a Master of Business Administration from Harvard Business School.
Commenting on the appointment, Mr. Paul Usoro, SAN, the Chairman of the Bank said:
“Mr. Orji has been appointed based on his exceptionally rich professional, academic, and corporate board experience which will be invaluable to the Bank as we continue to pursue our strategic objectives.
We are confident that his addition to the Board would further enrich the quality of our decision-making process, enabling us to deliver even greater value to our customers and stakeholders.
His appointment has been made in accordance with the Bank’s internal policies and has been notified to all relevant regulatory authorities underscoring our commitment to upholding the highest standards of corporate governance.
On behalf of the Board, Management and staff, I warmly welcome Mr. Orji to the Board and look forward to his contributions towards our goal of becoming one of the top 5 African Banks in the shortest possible time.”
Go and List Your Challenges, Lagos Speaker tells NANS Member During Courtesy Visit
AJAGBE ADEYEMI TESLIM
SPONSORED BY: H&H
The National Association of Nigerian Students (NANS), Lagos State University (LASU) branch, on Friday paid a courtesy visit on the Speaker of the Lagos State House of Assembly, Princess Mojisola Lasbat Meranda.
The student representatives said the visit was to congratulate Meranda over her emergence as Speaker of the State Assembly.
Meranda, an alumnus of LASU, was elected Speaker on January 13 after the removal of Mudashiru Obasa by the lawmakers over issues relating to alleged high-handedness and financial impropriety.
Describing her as a thoroughbred Lagosian, the chairman of NANS, Abdulraheem Azeez, used the opportunity to list some of the challenges faced by students in the university.
According to him, students have had to read in darkness as the Ikeja campus gets less than two hours of power supply daily.
Azeez also raised the need for the State to make available loans for indigent students as well as for the Assembly to provide opportunities for students to witness the plenary of the House.
Meranda, while thanking the students for the visit, urged them to always attend town-hall meetings in their constituencies where they can contribute and make their opinions known.
She further encouraged them to apply for the loans initiated by the government as done by students in other countries.
The Speaker requested the students to formally send their complaints in written forms to the House for action.
The Executive Chairman of the Economic and Financial Crimes Commission, EFCC, Mr. Ola Olukoyede charge members of the National Youth Service Corps, NYSC, to be change agents and strong resisting force against corruption.
He also enjoined them to be active foot soldiers and whistle-blowers or intelligence-gatherers against corruption.
Speaking on Thursday, January 30, 2025 at the NYSC Orientation Camp, Yikpata, Edu Local Government Area of Kwara State, Olukoyede said It is important for youths to realise that, these roles, if performed creditably, will bring up appreciable growth in the economy of our nation. He said that, “creative energies of youths will be maximised when corruption is brought to its knees.”
The EFCC boss whose address was delivered by the Head, Public Affairs Department, Ilorin Zonal Directorate of the EFCC, Ayodele Babatunde said that most of the problem confronting the country such as kidnapping, banditry, poor infrastructure, among others were connected to corruption. He added that all hands must be on the deck to tame the cankerworm.
Olukoyede encouraged the youths to embrace the virtues of hard work and shun fraudulent practices such as cybercrime noting that, “it’s profitable to earn dignity and fame through hard work and legit business.”
While calling on the youths to channel their potentials productively and shun crime, the EFCC Chair said that, “Yahoo-Yahoo is not a sustainable way of life.”
“There is no shortcut to wealth and fame. The fact that the rate of unemployment is high should not be an excuse to resort to crime. Act of criminality might deliver wealth in the short term but there will be misery and gnashing of teeth”, he said.