Society
Erotic workout: How Gym Instructors, Patrons Use The Gyms For Intimate Affairs……….
Published
1 year agoon
In this feature, we write on how the thriving fitness culture in the country has provided a cover for men and women to engage in intimate affairs, sometimes leading to sexual harassment the gyms
Isaac Madu’s legs swayed in excitement as he chugged on his smoothie and relished the taste of grilled chicken set before him.
His light brown eyes dimmed each time he laughed; his fingers intermittently fondling his long thick beard as he leered at some ladies who passed by the pub at Surulere, Lagos.
Madu, a 29-year-old native of Orlu, Imo State, works part-time as a gym instructor at a fitness centre on Lagos Island.
He cut the picture of a Hollywood hunk, with his fitting black shirt and trousers which made his bulging caramel arms, well-toned and muscular thighs quite apparent.
The graduate of International Relations waxed eloquently with our correspondent about how his profession regularly brings him in touch with enlightened people, a privilege he admitted had changed his outlook on life.
However, there is often a salacious, even lewd currency of exchange that often takes place with certain learners – some of whom he unashamedly admits are married women.
“I am not a bad guy and I don’t go all out seeking to have sex with my clients,” Madu told us with a wry smile on his face.
“I respect boundaries and understand what unwanted sexual solicitations can bring. But in my profession – shall I say the location too plays a big part – there are women who come to the gym not just to be fit but also to fulfil their sexual needs.
“Such ladies come to the gym because they are bored with their relationships or marriage; they want some spice in the bedroom. They want someone younger and athletic to take them to new dimensions, if you get my drift. Gym instructors like us are their easy choice because they come under the guise of the desire to be fit.
“One of them always described her husband as ‘old and fat,’ and, maybe as a reflex, she didn’t hide her motive for coming to our gym from day one.”
When our correspondent asked for more details, Madu initially declined and looked around carefully to be sure no one was eavesdropping.
“The devil is in the details,” he said with a giggle, as he brought out his phone which had been beeping in order to respond to his messages.
After a while, he continued, “There was this Lekki babe who registered and started coming to our gym. And as an instructor, it’s my job to figure out what is the best way forward from wherever you are starting and I like motivating people I work with.
“I told her to start slowly on one of the treadmills which she struggled with it for a while. So, I was always there to guide her. From there, I began to see just how beautiful she is, her curves and contours were well set. But I tried hard to focus on my work and not give her undue attention.”
He dived into the details.
“One day, while taking her through some deep stretches and beginner-friendly exercises, she looked at me in the eye with a seductive smile and smacked her lips. I caught the code but there were other people in the gym so I acted like nothing happened. But from that day on, we would give each other lusty eye contact even when I am with another guest.
“I would make her bend over while my hands supported her and put pressure on her lower back, and as she writhed in pain it would send a rush of blood down my system. It became a routine. I deliberately wanted to take things slow with her.”
From there, Madu told this reporter in graphic detail what started out as a workout session but eventually became a full-blown sizzling sexual affair.
“Sometimes, she came to the gym in the evenings and we would start right there if no one is around. There are times we use a hotel and sometimes she spent the night at my house. Our affair lasted for more than a year until she relocated out of the country. She is now married,” he added.
Thriving fitness culture
There has been a burgeoning global awareness of the need for stable physical and mental health, and Nigeria is not left behind in this regard.
More citizens, both young and old, have adopted different regular exercises to keep their bodies and mind in good shape. Also, organisations encourage their staff to engage in physical activity to stay healthy.
In Nigeria, many fitness centres or studios have sprung up, especially in the major cities and highbrow areas, and like magnets, they attract enlightened citizens who have a high consciousness of physical fitness and can afford it.
The thriving fitness culture has created a viable space for fitness enthusiasts to work as trainers, helping women who feel insecure about their physique and weight as well as men who hit the gym in order to regain their confidence.
A biomedical scientist, Nnaemeka Duru, told our correspondent that going to the gym was one of the best things to happen to his body.
He explained, “I used to be physically flabby and had low self esteem but since I hit the gym and have been consistent in going, I now feel good about myself and my body confidence has increased. Working out is one of the best things I did for my body.
“Within a few months of workout, I notice I have greater stamina and better self esteem. I learnt that physical exercises naturally boost testosterone and I must say, even in the other room, the story has changed.”
Another fitness enthusiast, Emmanuella Mnena, described it as a lifestyle that more people need to adopt in order to improve their well-being.
“When I started out in the gym, I would wake up the following day with body aches and I almost gave up but the gym instructor was very patient, always encouraging me, telling me ‘no pain, no gain’. That motivated me to continue and now, I see it as a health-boosting lifestyle that more people need to adopt,” she said.
Commenting on the benefits of physical exercise, a physiologist, Ifeolouwa Ojo, told Saturday PUNCH that regular exercise helps to lower the risk of developing chronic conditions including diabetes, heart disease, and some types of cancer.
He said, “Exercise is a crucial component of a healthy lifestyle, and engaging in regular physical activity has several advantages. The beneficial effects of exercise on cardiovascular health are among its most important advantages.
“Regular exercise can assist to increase blood flow, lower blood pressure and lower the risk of heart disease. Furthermore, it may be helpful in boosting muscular strength and stamina, which can enhance overall physical performance and lower the chance of injury.
“Exercise can be good for your physical and emotional health in addition to being physically beneficial. Regular exercise has been shown to lessen the signs of depression and anxiety, boost mood and encourage sound sleep. In addition, it can help in lowering stress levels, which may have a big effect on general well-being.”
He stressed that a healthy lifestyle must include regular exercise, which everybody could benefit from.
He added, “Regular physical activity has numerous advantages and is a crucial component of a healthy lifestyle. It can help to strengthen and sustain muscles, increase energy levels and lower the chance of developing chronic conditions.
“Increased energy and decreased weariness are two additional advantages of exercising. Regular exercise can assist metabolism, which can result in more energy and better overall health.”
Gym sexpreneurs
We learnt that monthly registration for gyms in Lagos falls between N15,000 to N80,000, depending on the location, fitness regime involved and the type of facilities available.
Some fitness enthusiasts, however, tend to spend more money to hire personal trainers and fitness coaches to meet their specific workout needs.
A number of gym trainers are professionals who are often reached by clients through mutual contacts or social media, while the others work part-time as club bouncers, personal escorts and ‘hook up’ guys.
The Cambridge Dictionary defines hook up, as “to begin a romantic or sexual relationship with someone.”
On a broader perspective, hook up culture is one that accepts and encourages casual sex encounters, including one-night stands and other related activities, without necessarily including emotional intimacy, bonding or a committed relationship.
Far from leading clandestine lives, many Nigerian hook-up men and women meet their clients via social media or are mediated through an adult agency.
A ‘hook up’ bouncer and gym trainer whose Instagram name is Donatus (surname withheld) admitted to our correspondent that he receives much patronage across several states from both women and men.
He stated, “I am a fitness trainer and I work as a bouncer. I tend to meet more beautiful and high-class women when I am doing my bouncer job than in the gym. You know, in clubs and parties, these women openly approach me and tell me they want me. They could send their drivers to give me their contact or they give me personally.
“It is a matter of negotiation. We talk about what they desire and we get busy; we are adults. Transactional sex is nothing to be ashamed of, except in a hypocritical society like ours. Some men too approach me, though some just admire my body and keep it moving.”
When our correspondent inquired if he also has sexual liaisons with ladies who come to his gym, he added that it could come with conditions.
He stated, “If I like her and she really wants us to have fun, fine, we do it. There is usually no transaction involved. But if she is wealthy and she can afford my service, I am game. There are women who actually come to the gym to find men that will satisfy them and we do satisfy them, even with threesomes sometimes.
“I’m not ashamed of what I do. See, I worked so hard on this body for me to be giving it away to just anybody for free. It’s not easy to become a bodybuilder. It takes years of workout and taking supplements to reach this point and now it gets me gigs too.”
A mother of two, who gave her name as Anike, disclosed that some women do form cliques when they go to the gym to hunt for sex partners.
She stated, “Those who do these things might not tell you but I can tell you that it happens. I used to visit a gym in Isolo area of Lagos where a woman was the ringleader of women who were there to look for sex partners under the guise of workout. They go after young men who come to the gym and only those who know this will know.
“When these women saw that I wasn’t joining them in their prostitution, they began to display antagonism towards me and I had to stop going to that gym.”
Reacting to the trend of those who use gyms as an avenue for sexual affairs, Ojo stressed that exercise improves people’s sexual appeal.
He added, “Some could contend that the main reason individuals go to the gym is to find partners for sex when it comes to gym culture. While it’s true that some people might use the gym as a networking opportunity, it’s crucial to keep in mind that exercise offers numerous advantages beyond just improved health and sex appeal.
“Additionally, it has advantageous impacts on mental health, including lowering stress and anxiety, boosting mood and facilitating better sleep. It’s crucial to keep in mind that the advantages of exercise go well beyond only physical beauty or sexual appeal, even though some individuals may use the gym as a way to meet new people.”
Married men differ
Our correspondent inquired from several married men whether they would allow their wives to go to the gym or have a personal trainer.
While some men saw no problem in the idea, others raised their objected to it.
A civil servant and father of three, Mr Damilare Olalekan, said, “I won’t allow my wife to go to the gym. I have seen some social media videos of how some of these men inappropriately touch women, in the name of training and I can’t allow such a thing.
“There are home exercises that she can do and there are female personal trainers and wellness therapists she could consult.”
Similarly, a clothier, Ahmed Ojomo, told Saturday PUNCH that as a Muslim, his religion frowns on men physically touching other men’s wives.
“My religion frowns on a man touching other men’s women, and some of the things these women wear to the gym are too revealing. The men attending to them are not made of wood,” he said.
Conversely, an architect and father of two, Mr Deji Alatiba, said there was nothing wrong with the idea.
He stated, “I registered my wife in a gym because I want her to be physically fit and burn off excess calories and we even workout together. It is a matter of perception and emotional security. If men could have no problem going to the gym, why should women be barred?
“If you don’t trust your partner, then you can devise a means of physical exercise that works for both of you, but if there is trust and true love in a marriage, you won’t be bothering your head with all of that.”
Buttressing Alatiba’s view, a data analyst, Prince Njoku, said, “Unless there is a gym where I am credibly sure that women are being sexually harassed or my wife has given me reasons to doubt her fidelity, she can get registered at any gym.”
Meanwhile, a fitness instructor, Osaze Innocent, described the reports of sexual liaisons in gyms as being rooted in a wrong but widely held misconception about gym trainers.
He said, “The allegation that ‘no one gets free sex than a gym instructor’ is a lie and a misconception that needs to be challenged because this is how a narrative gains a life of its own when repeatedly used without being countered.
“Yes, some gym instructors do sleep with female learners, just as we have some lecturers who sleep with their students, but that doesn’t mean it happens everywhere or even ethical. Many of us are in serious relationships and we respect our partners not to sleep around.
“I know I can’t speak for everyone, but personally I don’t know any gym instructor who sleeps with their learners, though I won’t say such things don’t happen. People get these ideas from porn materials and from there they start making general claims that are false.
“Like so many other professions, some unscrupulous people with impure motives come into the sector, but people like these need to be stopped and if non-consensual, be made to face the consequences.
“I once had a client whose husband always called on the phone to monitor her movements whenever she was in the gym because of this widely believed misconception. These are issues we all need to speak against.”
In his reaction, a psychologist, Kolawole Afolabi, explained that more Nigerians need to have a full understanding of sexual addiction.
He added, “Although there are no available data that can be referenced, it would seem that some of these men and women who have turned fitness centres into sexual trysts might actually be suffering from sex addiction. This is a disorder that is now recognised by the World Health Organisation and is defined as “a persistent pattern of failure to control intense, repetitive sexual impulses or urges resulting in repetitive sexual behaviour.
“Symptoms of sex addiction may include repetitive sexual activities becoming a central focus of the person’s life to the point of neglecting health and personal care or other interests, activities, and responsibilities; numerous unsuccessful efforts to significantly reduce repetitive sexual behaviour; and continued repetitive sexual behaviour despite adverse consequences or deriving little or no satisfaction from it.
“So, we should be alert to the possibilities that individuals who indulge in repetitive sexual acts in public places, without regard for the consequences, might be sex addicts. They would need to see a professional counsellor and go through therapy.”
Sexual harassment
While there are some women who seek sexual affairs in the gym, on the flip side other women decry the rate of harassment that comes from men in fitness centres.
According to Collins Dictionary, harassment is a behaviour that is intended to trouble or annoy someone. Similarly, sexual harassment is defined as any unwanted sexual behaviour that makes someone feel upset, scared, offended, or humiliated.
A study published in Women’s Health magazine indicated that two in three British women avoid exercising at the gym, 45 per cent choose to go with a friend, and four per cent go with a partner because “men make them feel uncomfortable.”
For instance, a banker, Bolanle Arowolo, bemoaned how she was groped by a man while working out at a gym.
She narrated her experience, “I was at a fitness centre which I used for a while. That day, I was working on my glutes and from behind me, I suddenly felt a hand grip me around my waist. I initially thought it was my instructor, only to turn around to see this creepy man who should be in his late 40s lustfully smiling at me.
“I was so shocked that I couldn’t even chastise him. He even leaned over and said ‘Fine girl.’ I just stopped whatever I was doing, went to change my clothes, walked up to him and hissed loudly at him and I walked out. I could hear him laughing as I stepped out.”
A media consultant, Omolola Bello, told our correspondent that women do feel uncomfortable when men glare at their bodies or laugh at them while working out.
She said, “I don’t feel comfortable going to the gym if there are many men there because I know they will be glaring at my backside while I’m working out and that disturbs my energy.
“This is not something that is uniquely my experience, I know several women that will tell you the same. Apart from the fact that it’s rude, some men are in the habit of catcalling you or following you because you are in the gym with them.
“Some will even be making a jest of you and poking fun at you as it happened to me. These kinds of unwelcome remarks towards women are disrespectful and yes, they qualify as harassment.”
A Gender Studies for Men survey asked respondents if they thought women wearing tight and skimpy clothing at the gym is a form of sexual harassment of men.
It is interesting to note that about 83 per cent of respondents said they saw it as sexual harassment while 17 per cent dissented, describing it as women’s empowerment.
In February, videos with hashtags such as #GymCreep and #GymWeirdo became viral on TikTok and garnered more than 100 million views.
The terms were used to describe male gym-goers staring at or approaching women who were trying to have a workout. Based on the comments, many people could relate to the uncomfortable situation.
However, some social media users suggested that men were unfairly targeted by the videos, and there was criticism of people filming without permission.
Decrying the rate of sexual harassment in Nigeria, a legal practitioner and founder of Emeka Chinenye and Co., Mrs Chinenye Emeka, explained to Saturday PUNCH that such unwarranted acts could be verbal or physical and could also happen in a workplace or within a community.
She stated, “Sexual harassment is an illegal act punishable under Nigerian laws, however many women are timid to complain of sexual harassment because of fear and shame. Sexual harassment at any level has negative emotional, physical and psychological health effects on the victim such as anger, fear, depression, shame, humiliation, loss of control, etc.
“Section 360 of the Criminal Code provides that any person who unlawfully and incidentally assaults a woman or girl is guilty of a misdemeanour and is liable to imprisonment for two years.
“Other authorities that protect the interest of women include the Nigerian Constitution, the Sexual Offences Act Bill of 2013 and the Violence Against Persons Provision (Prohibition) Act 2015.”
Highlighting steps that could be taken by individuals being sexually harassed at the gym, Chinenye urged them to document their evidence and seek legal assistance.
She added, “You can confront the person because someone might be harassing you sexually not knowing that they are committing an offence. In such a situation, let the person know of the offence and warn them not to repeat such act.
“If the offence continues after confrontation, start documenting your evidence to build your case. Report to the appropriate authority of the police with a trusted supportive close person like a family member and engage legal assistance.”
Saturday Punch
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Society
EFCC grants ex-Delta gov, Okowa, bail over alleged N1.3trn fraud
Published
7 hours agoon
November 7, 2024
The Port Harcourt zonal command of the Economic and Financial Crimes Commission (EFCC) has granted administrative bail to Dr. Ifeanyi Okowa, a former governor of Delta State for alleged diversion of N1.3 trillion 13% derivation fund from the federation account between 2015 and 2023.
Society Reporters reports that Okowa was arrested on Monday, November 4, 2024, in Port Harcourt, Rivers State, when he reported at the Port Harcourt Directorate of the EFCC on the invitation of investigators handling his matter.
We reliably gathered that the former governor left the facility of the anti-graft agency at about 9 pm Wednesday night.
According to the source: “He left the facility at about 9 pm yesterday (Wednesday).
“Okowa is expected to return soon to provide documents and answer more questions before the matter will be charged to court”.
The former governor was alleged to have failed to render accounts of the 13% derivation funds as well as another N40 billion he allegedly claimed he used to acquire shares in UTM Floating Liquefied Natural Gas.
Specifically, Okowa allegedly bought shares worth N40 billion in one of the major banks in the country representing 8% equity to float the offshore LNG. The funds were alleged to be used for other purposes, including acquiring estates in Abuja and Asaba in Delta state.
Society
Ifechukwude Okonjo: Man convicted of theft in US emerges traditional ruler in Nigeria
Published
1 day agoon
November 6, 2024When Ifechukwude Okonjo emerged as the Obi of Ogwashi-Uku in Delta State in September 2019, there was no indication that he had been convicted of a crime in the US.
Ogwa-Uku is a community in Anaocha South Local Government Area of Delta State, Nigeria’s South-South.
Mr Okonjo succeeded his father, Chukuka Okonjo, a professor whose death was announced on 13 September 2019.
Findings by PREMIUM TIMES showed that he was crowned days after the death of his father.
Conviction in the US
According to court documents obtained by PREMIUM TIMES, Mr Okonjo was convicted of theft in April 1997 at the Circuit Court for Montgomery County, State of Maryland, in the US.
The court documents showed that his younger brother, Onyema Okonjo, was also convicted of a similar offence on 23 January 1998.
Charges, arraignment and trial
Mr Okonjo was first criminally indicted on 20 April 1995 and summoned to appear before a judge the following day.
After initially failing to make his appearance on 12 August 1995, he finally showed up at the court on 14 July of this same year.
He was initially charged with theft and conspiracy to commit the crime with his younger brother, Onyema.
Specifically, the first count charge indicated that Mr Okonjo stole “assorted computers and computer peripheral equipment, the property of Digital Equipment Corporation, having the value of $300 or greater” between 23 January 1995 and 24 March 1995 in Montgomery County, Maryland.
According to the court document, the offence violated Article 27, Section 342 of the Annotated Code of Maryland and was against the peace, government, and dignity of the US state.
He was released on bail on “personal recognisance” after paying a $2,500 bail bond.
Then unemployed and single, Mr Okonjo resided with his elder sister, Ngozi Okonjo, at 7004 West Greenvale Parkway, Chary Chase, MD 20815, in the US.
Ngozi Okonjo, now popularly known as Ngozi Okonjo-Iweala, has been the director-general of the World Trade Organisation since March 2021.
At the time of the trial, Mr Okonjo was 30 and had lived in the US for nine years. He is now 57.
His brother, Onyema, was criminally indicted by the court on 18 October 1996, and a bench warrant was issued against him the same day.
By then, Onyema was 28 years old and married; he is now 55. He made his first court appearance on 14 November 1997.
His charge indicated that he committed the crime of theft and conspiracy between 28 October 1993 and 24 March 1995 in Montgomery County, Maryland.
According to the court documents, he claimed to be homeless at the time.
Like his brother, Onyema was released on bail on “personal recognisance.”
Mr Okonjo and Onyema were told that the condition of their release was that they should appear in court during sittings or their bail bond would be forfeited.
They were also told that failure to surrender themselves within 30 days after the bail forfeiture might cause them to be further charged, fined and/or imprisoned.
Sentencing
Mr Okonjo and Onyema, after their bail, separately failed to appear before the court on hearing and trial dates, forfeited their bail bonds and also “willfully” failed to surrender themselves within 30 days after the forfeiture, according to the court documents.
One of the documents indicated that Onyema left the US after being granted bail.
The court then separately charged and found Mr Okonjo and Onyema guilty of failing to surrender themselves within 30 days of their bail forfeiture.
Consequently, the court, on 29 April 1997, sentenced Mr Okonjo to six months imprisonment.
For the first count of theft of assorted computers worth $300, the court also sentenced Mr Okonjo to one-year imprisonment beginning from 4 April 1997, when the judgment was delivered.
The court documents did not indicate if the sentences were to run concurrently.
Similarly, the court, on 23 January 1998, sentenced Onyema to 57 days imprisonment.
It is unclear if Mr Okonjo and Onyema served their jail terms in the US or ran back to Nigeria, given that they had jumped bail before their conviction.
Honoured in Nigeria
In 2019, after their father’s death, Mr Okonjo and Onyema joined other princes in the contest for the traditional stool of the Ogwashi-Uku Community.
The community residents were unaware that the duo had been convicted of theft in the US.
After the contest, Mr Okonjo emerged as the community’s traditional ruler and was crowned days later.
He is now the Obi of Ogwashi-Uku, the highest traditional authority in the community.
Petition to the SSS
The conviction of Mr Okonjo and Onyema im the US became public knowledge after some community members obtained certified true copies of the court judgment.
Some members of the community subsequently petitioned the Delta State Government and the State Security Service (SSS) and accused Mr Okonjo of engaging in land grabbing, illegal arms dealings, harassment of indigenes, and formation of armed militia groups, among others.
The petition to the SSS, dated 4 October 2024 and addressed to the SSS director-general, was authored by F.O. Okolie, a law firm, on behalf of some community members.
The community members on whose authority the petition was authored included Chiedu Enwenwa, Hyacinth Okolie, Ellen Adigwe and Bruce Ugo Emordi.
In the petition, the community members claimed that Mr Okonjo, Onyema and others recruited some unnamed gunmen from South-east Nigeria into the community’s vigilante security outfit.
They alleged that the recruited gunmen were being used to forcefully take over people’s landed property and also to commit violent crimes such as kidnapping and murder.
They also claimed that the duo and others were using police operatives to intimidate community members, alleging that the issue had earlier been reported to the police authorities in Nigeria and that no action had been taken.
They expressed fear that, given the current tension, the community was on the verge of being thrown into war and a breakdown of law and order.
The community members, in the petition, appealed to the SSS to investigate all the community vigilante groups and palace guards as well as the alleged kidnap and murder of some indigenes of the community.
They also called for an investigation into Mr Okonjo’s alleged “illegitimate dealings in prohibited firearms” allegedly imported into the community by gunmen.
Palace speaks
On 31 October, a PREMIUM TIMES reporter contacted Ifeakanachukwu Emordi, Mr Okonjo’s palace secretary, to seek to speak with the traditional ruler about the allegations.
After dismissing Mr Okonjo’s conviction for theft as untrue, Mr Emordi promised to get the traditional ruler to speak with our reporter on the phone.
Minutes later, Onyema phoned our reporter and claimed, without evidence, that the petitioners were not representatives of Ogwashi-Uku.
Regarding the allegations of land grabbing, he claimed that all lands in Ogwashi-Uku are held in trust by the traditional ruler in accordance with the community’s traditions and customs.
“That’s our land tenure system. Obi doesn’t have to grab any land that is under his custody,” he said.
He said the SSS should be allowed to investigate the allegation of recruiting gunmen into the community’s vigilante groups and harassment of indigenes.
When quizzed about the conviction of the traditional ruler in the US, he responded, “We are not aware of that.”
Our reporter again requested to speak with the traditional ruler. Onyema promised to inform the traditional ruler and revert. But he did not get back to the reporter.
When contacted again on 6 November, nearly a week after, he claimed Mr Okonjo was busy and not available to speak on the issues.
Onyema said he might get another person to respond before the end of the week if the traditional ruler remained unavailable.
When our reporter informed him that court documents shows that he too was convicted in the US, Onyema retorted, “I can’t speak to all of these issues.”
“We will get back to you to try to clear the air as far as any of these issues are concerned,” he added.
Commission of enquiry
In response to the petition, the Delta State Government set up a commission of enquiry to investigate the allegations against the traditional ruler, particularly on land-related issues.
The commission is expected to begin a public hearing on Thursday and conclude it on 20 November 2024, according to an announcement from the Secretary to the commission, Gabriel Eze-Owenz, a lawyer.
SEE COURT DOCUMENT BELOW
SOURCE: PREMIUM TIMES
Society
OANDO WINS ‘DEAL OF THE YEAR’ AWARD AT AFRICA ENERGY WEEK 2024
Published
1 day agoon
November 6, 2024
Oando Plc, Africa’s leading energy solutions provider listed on the Nigerian Stock Exchange (NGX) and Johannesburg Stock Exchange (JSE) is pleased to announce that the Company has emerged winner of the ‘Deal of the Year’ award at Africa Energy Week (AEW) 2024.
The Africa Energy Chamber (AEC), the organisers of the annual week-long oil and gas conference, hosted and recognised different stakeholders at a Gala and Award night held at the Cape Town International Conference Centre (CITCC), on Tuesday, 5 November, 2024.
In a category comprising other high-profile deals in the sector and across Africa, Oando won the award in recognition of the Company’s recently completed landmark $783 million acquisition of the Nigerian Agip Oil Company (NAOC) from the Italian Energy firm Eni on 22 August, 2024.
This acquisition, 10 years in the making since Oando’s initial entry into the ConocoPhillips/NAOC/NNPC Joint Venture (JV) in 2014 when the Company acquired ConocoPhillips Nigeria business, doubled the company’s stake in the JV to 40% and operator of the assets.
In receiving the award, the Company’s Group Chief Executive, Wale Tinubu, remarked “We are delighted and honoured to receive the ‘Deal of the Year’ award from Africa Energy Week. It’s been a remarkable year on many fronts. First, we marked our 30th anniversary as a business, then concluded our strategic plan to acquire our second IOC in a decade, Nigerian Agip Oil Company (NAOC) and step up to the role of operator.
“This award is more than just an accolade for a successful deal closure; it represents a public acknowledgement of the culmination of 30 years of grit, hard work, resilience, and sheer belief in our vision. It is a testament to my belief that with the #HumansOfOando, impossible is nothing. I’d like to thank the dream team, the #HumansOfOando, our financiers, and partners for their belief and role in making this award a reality.”
The acquisition is the culmination of a decade of preparation, strategic planning, and unwavering commitment to a vision of becoming Africa’s first indigenous International Oil Company.
It is a testament to the organisation’s 30-year journey spanning the entire energy value chain, with consistent and deliberate actions at each stage that have led to the advancement of indigenous participation in the industry.
The Deal of the Year award “recognises the most transformative and impactful deal in the energy sector – honouring excellence in negotiation, strategic alignment, innovation and collaboration – and celebrates deals that drive advancements in energy and economic growth.”
With this year’s AEW theme of “Invest in Africa Energies: Energy Growth Through an Enabling Environment”, the AEC, through the AEW Awards 2024, recognised other persons, International (IOCs) and National Oil Companies (NOCs) across the continent through awards in 10 categories.
Tinubu at the event also delivered a key note address with the topic, Transforming Africa’s Oil and Gas landscape through strategic Merger and Acqusition.
During the address he noted that indigenous companies contribute approximately 30% of the country’s crude oil production and hold around 40% of the total oil reserves. Additionally, they account for 60% of the country’s gas production and approximately 32% of gas reserves. This data underscores the growing significance of local players in the African oil and gas sector.
He also highlighted improvements in the business environment, citing the improved Ease of Doing Business driven by recent reforms that have attracted increased investments in energy. Tinubu pointed to the successful Implementation of the Petroleum Industry Act (PIA), which has established a regulatory framework that enhances transparency and boosts investor confidence.
Tinubu’s remarks included a call for enhanced collaboration among policymakers, investors, and oil and gas companies to foster the growth of indigenous firms through supportive regulations, financing access, and technology transfer. He urged stakeholders to focus on leveraging M&As to diversify and expand capabilities within the sector while emphasizing the need to strengthen Africa’s institutional and financing capacity for local firms.
As Oando continues on its growth trajectory, Tinubu’s insights served as a powerful reminder of the strategic importance of indigenous companies in Africa’s energy transformation and the collective effort required to drive sustainable development across the continent.
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Society4 years ago
Just In: Covid-19: Socialite Bolu Akin-Olugbade passed on at Paelon Covid Centre, Ikeja.
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Society4 years ago
IMO PCC COMMISSIONER, WILLY AMADI IN VIRAL THREESOME SEX VIDEO SCANDAL
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News and Report6 years ago
Stanbic IBTC In Trouble As Supreme Court Orders Bank To Pay Customer ₦2.5Billion
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News and Report7 years ago
Delta 2019: Gov. Okowa’s ambition cripples Asaba Airport upgrade…. • As ULO Construction Company pulls out • Okowa allegedly diverts N1.5Bn budgeted for the project
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News and Report7 years ago
More Queen’s College pupils take ill…• Parents call for prosecution of ex-principal
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News and Report6 years ago
GTBank Releases 2018 Full Year Audited Results …….. Reports Profit before Tax of ₦215.6 Billion
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News and Report6 years ago
GTBank Releases H1 2018 Audited Results, Reports Profit Before Tax Of ₦109.6 Billion