Transcorp Group Champions Nigeria’s Energy Future at the 2024 Nigeria Energy Summit

AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

At the recently concluded 2024 Nigeria Energy Summit, Transcorp Group reaffirmed its leadership in shaping the future of Nigeria’s energy sector, with two of its key executives driving the conversation on building infrastructure for gas-to-power projects. 

Vincent Ozoude, MD/CEO of Transafam Power Limited, and Christopher Ezeafulukwe, MD/CEO of Transcorp Energy Limited, were at the forefront of discussions aimed at tackling the critical challenges and opportunities for Nigeria’s gas sector, alongside Dr. Joy Ogaji, MD/CEO of the Association of Power Generation Companies (APGC).

The session was moderated by Gbemisola Abiola-Ige, Head of Risk Management & Portfolio Optimization at Nigeria LNG Limited.

The summit highlighted the growing importance of gas in Nigeria’s energy mix and the urgent need to address infrastructure gaps, funding issues, and security concerns to unlock the country’s gas-to-power potential fully. The panel focused on how strategic investments and partnerships, driven by both public and private sectors, can pave the way for a more robust energy future.

Addressing Key Risks: Funding, Security, and Market Volatility
During the panel, Christopher Ezeafulukwe emphasized that Nigeria must find homegrown solutions to secure funding for gas-to-power projects in an era where fossil fuel investments are declining globally.

He highlighted the concept of Africapitalism, which calls on African nations to take charge of their own development through partnerships that prioritize local growth and long-term sustainability. “We cannot rely solely on external funding. Africa must lead in building its infrastructure by leveraging both the private and public sectors,” Ezeafulukwe said.

Vincent Ozoude highlighted the persistent security risks in Nigeria’s oil and gas regions, noting that traditional methods of policing infrastructure are no longer sufficient. He advocated for a more strategic, intelligence-driven approach that includes local operators in the solution, thus formalizing and leveraging their skills to safeguard critical infrastructure.

Both leaders also pointed out the market risks plaguing Nigeria’s gas-to-power sector, particularly inefficiencies in the electricity market and the slow pace of industrialization. They stressed the need for the power sector to transition to bilateral contracts, which would stabilize demand and unlock growth potential for the gas sector.

Gas: The Bridge to Nigeria’s Energy Future
A recurring theme during the session was the crucial role that gas plays in Nigeria’s path towards energy sufficiency. Ezeafulukwe reminded attendees that gas currently powers 70% of the national grid, making it the backbone of Nigeria’s energy supply.

He noted that even as renewables gain traction, gas-fired plants will remain essential for maintaining stability in the country’s power generation. With Nigeria ranking third in Africa in terms of gas reserves, the country has a unique opportunity to harness this resource to fuel its economic growth and industrial development.

Vincent Ozoude added that addressing infrastructure gaps is crucial to realizing this potential. He specifically pointed to the delayed OB3 pipeline, designed to link Nigeria’s eastern and western gas markets, as a key project that must be prioritized.

“We have the reserves, but we lack the infrastructure to connect gas-rich areas to demand centres. This inefficiency is holding us back from achieving energy sufficiency,” Ozoude explained.

A Call for Policy Re-evaluation and Immediate Action
The discussion ended with a call to revisit Nigeria’s Gas Master Plan and the Decade of Gas initiative. While these policies were developed with the right objectives, the panel agreed that they require reevaluation to reflect current realities. The leaders emphasized that addressing infrastructure gaps, improving security measures, and adopting modern market frameworks are critical to positioning Nigeria as a true gas powerhouse.

For Transcorp Group, the message is clear: gas-to-power is more than an energy solution—it is a driver of economic transformation. By investing in strategic infrastructure and partnerships, the Group is committed to playing a central role in transforming Nigeria’s energy landscape and contributing to long-term value creation for the country and its people.

As Transcorp Energy and Transafam Power, subsidiaries of Transcorp Group, continue to lead the charge, their efforts will ensure that Nigeria maximizes its gas potential, fueling industrial growth, job creation, and sustainable development.

GOVERNOR ODODO FLAGS OFF 20KM OBAJANA-URO-AKU RURAL ROAD

HAMZAT ACHIMOGU LOKOJA

SPONSORED BY: H&H

Kogi State Governor, Ahmed Usman Ododo has flagged off construction of the 20KM Obajana-Uro-Aku rural road linking parts of Lokoja and Adavi local government areas.

The project is part of interventions by the Rural Access and Agricultural Marketing Project (RAAMP) supported by the World Bank Group and other stakeholders in the agricultural development value chain and it is the first phase of the over 65KM network of rural roads in the state intended create access to farms, farming communities and markets to ensure food security in the state.

Governor Ododo who performed the Flag-off at a ceremony in Apata near Obajana emphasized the pivotal role of rural roads in the development agenda of his administration, adding that the rural roads will not only enhance transportation but also serve as catalyst for rural economic growth and food security in the state.

He noted that the roads will also provide access and connectivity to farmers and traders as part of his administration’s broader strategy to enhance rural development and bring governance closer to people in local communities.

While appealing to benefiting communities to take ownership of the project, Governor Ododo gave a stern warning to contractors handling the project not to divert project funds, urging them to demonstrate high level of integrity and professionalism in project delivery.

On his part, the State Commissioner for Rural and Energy Development, Engineer Abdulmutalib Mohammed said the project is meant to benefit farmers especially by reducing cost of transportation and accessibility for both farmers and traders in the state.

In his remarks, the National Co-ordinator of RAAMP, Engineer Aminu Bodinga represented by Mrs Joy Amadi commended Governor Ododo for his unwavering commitment to rural development which she noted would enhance connectivity and access to markets, social services and opportunities that were previously out of reach by rural dwellers.

Similarly, the State Coordinator of the project, Sheidu Obansa says the network of rural roads will expose the communities to opportunities and promote agricultural development in the state.

Speaking on the development, the Olu of Oworo, Muhammed Adoga Baiyerohi who commended Governor Ododo on the road project, noted that the project will enhance agricultural development and will also reduce vehicular traffic along Obajana road.

Other traditional rulers who spoke on the development commended Governor Ododo for the initiative to help rural dwellers who are mostly farmers and traders in the state.

AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

Prominent Africans and Nigerians have confirmed their participation in the Realnews 12th Anniversary Lecture on Tuesday, November 19, at the Sheraton Hotel starting at 10 am. 

They include Ms. Beatrice Eyong, UN Women’s Country Representative; Karim El Aynaoui, Executive President, Policy Center for the New South, Rabat, Morocco; Mrs. Hadiza Bala Usman, Special Adviser to the President of Nigeria on Policy & Coordination and Head, Central Delivery Coordination and Engr. Shehu Tijjani, Managing Director, Amal Technologies Ltd.

Ms. Eyong, a Cameronian national, will chair the lecture that will be delivered by Ambassador Prof. Ibrahim Agboola Gambari, former chief of staff of former President Muhammadu Buhari and former Permanent Representative of Nigeria at the United Nations. She will also moderate the discussion session featuring Bala Usman who doubles as a special guest and discussant along with Tijanni.  El Aynaoui will also keynote the Lecture. 

In her acceptance message dated September 10, 2024, Eyong, who has  has over 35 years professional working experience in the international organisations in promoting gender equality and women’s empowerment, said: “I intend to attend the lecture….” She holds a Master of Science degree in Agricultural Extension from the University of Reading, United Kingdom; a Diploma in Women, Extension workers and Agriculture from the Larenstein International Agricultural College – Deventer, the Netherlands; and a Diploma in Integrated Rural Development, from the Pan African Institute for Development West Africa, Buea – Cameroon.

Also, El Aynaoui from Morocco, emailed on May 10, 2024, stating: “Thank you very much for your very kind invitation which I accept gladly.

 I am very honored”. He is also executive vice-president of Mohammed VI Polytechnic University and Dean of its Humanities, Economics, and Social Sciences Cluster, and an economist. From 2005 to 2012, he worked at the Central Bank of Morocco where he held the position of Director of Economics, Statistics, and International Relations. 

At the Central Bank of Morocco, he was in charge of the Research Department and equally a member of the Governor’s Cabinet. Previously, he worked for eight years at the World Bank as an Economist for its regional units in the Middle East and North Africa, and Africa. 

Karim El Aynaoui has published books and journal articles on macroeconomic issues in developing countries.  

On her part, Bala Usman, who has a Bachelor’s degree in Business Administration and Master’s degree in Development Studies from the University of Leeds, UK, sent a message on July 13, 2024, stating: “I will be there and I have sent to my team to schedule”. Bala Usman was the former managing director of the Nigerian Ports Authority (NPA), an activist and a politician.

Similarly, Tijjani, described as a technologist, innovator, visionary leader and entrepreneur dedicated to transforming Nigeria’s technological landscape, said in his message: “Thank you for the honour.

I shall be in attendance by the grace of God.” Tijjani is a First Class graduate in Information Technology and Business Information Systems from Middlesex University with a background in hardware and firmware engineering.

The Management of Realnews Magazine and Publications Limited, publishers of Realnews Magazine Online, had announced the lecture would be on “Africa in World Shifting Geopolitics: Matters Arising on Demography, Technology, Artificial Intelligence, Natural Resources”.

Maureen Chigbo, the publisher of Realnews, said there will be an induction of all the speakers into The Realnews Hall of Fame immediately after the Lecture. Chigbo explained that the Realnews Hall of Fame was established to honour only those who played key roles during the anniversary lectures. 

Realnews, a general interest magazine, is an online publication that thrives on investigative journalism. 

We have expertise in reporting the oil and gas sector with its attendant environmental challenges. We aim to unearth exclusive stories about real people and the challenges they face in their day-to-day activities. 

We do this bearing in mind that government can only act to influence the lives of people positively if they are aware of their true situation.

Hence, our objective is to use our investigative skills to ferret out information in the sectors we focus on and produce an unbiased report that will actually influence the government and decision-makers to take actions that will make society better.

Realnews is populated by seasoned journalists who believe strongly in the tenets and ethics of the profession. 

The online publication believes that journalism as the fourth Estate of the Realm can contribute its quota towards building a fair and just society where fundamental human rights are respected and citizens have the freedom to pursue their interests anywhere in the world without hindrance. 

Its editors have a combined experience of several decades in active journalism practice and are highly dedicated to serving humanity. Hence its motto: “For God and Humanity.”

Realnews Anniversary Lecture Series was established to commemorate the best minds in our society and to tap from them to enrich the discourse in our national development.

Realnews Anniversary Lecture Series was established to commemorate the best minds in our society and to tap from them to enrich the discourse in our national development.

The 11th Anniversary Lecture in 2023 on The Threats of Illicit Funds Flow to the African Economy was delivered by Dr. Edwin W. Harris Jr., Director-General, ECOWAS Inter-Governmental Action Group against Money Laundering in West Africa (GIABA). 

The 10th Anniversary lecture in 2022 on “Drug Abuse among Youths in Africa: Implication for Nigerian Economy and 2023 Elections” was delivered by Brig General Buba Marwa, Chairman, and Chief Executive Officer of the National Drug Law Enforcement Agency, NDLEA;  9th Anniversary Lecture of Realnews in 2021 was delivered by Engr. Simbi Kesiye Wabote, Executive Secretary of the Nigerian Content Development and Monitoring Board on “Nigeria in the Unfolding Integration of the African Market: The Oil and Gas Perspective”; 2020 Eighth Anniversary Lecture of Realnews was delivered by Boss Mustapha, Secretary to the Government of the Federation and Chairman of the Presidential Taskforce on COVID-19 on Managing COVID-19 Pandemic in Africa: The Nigeria Experience; Former President John Dramani Mahama of Ghana gave the 2019 Lecture on Beyond Politics: An Economic Narrative for West Africa while Prof. Mahmood Yakubu spoke on Political Transitions and Africa’s Economic Development: Preparations for Nigeria’s 2019 General Elections at the 2018 Lecture. The 2017 Fifth Anniversary Lecture on African Leadership in a Turbulent Era was delivered by Dr. Oby Ezekwesili, former minister of Education and former World Bank Vice President. 

The 2016 Fourth Anniversary Lecture on Security and National Development in Plural Democratic Society was delivered by Dr. Mohamed Ibn Chambas, former United Nations Secretary General’s Special Representative to West Africa and Sahel; the 2015 Realnews Third Anniversary Lecture was delivered by Professor Chukwuma Charles Soludo, former Governor of the Central Bank of Nigeria (CBN) on November 19, 2015, under the theme: It’s The Nigerian Economy, Stupid? The Second Realnews Anniversary Lecture on Nigerian Democracy: Getting it Right in 2014 was delivered by Professor Maurice Iwu, former Chairman of the Independent National Electoral Commission (INEC).