Society
THE LIFE AND TIMES OF SOCIETY HIGH CHIEF (DR.) O. B. LULU-BRIGGS (1930-2018)
Published
5 years agoon
Once in every generation, and to a particular people, God sends that one person who comes along with refreshing energy, impacts us so affectionately; uplifts our spirits, energizes our bones and inspires us to grander ideals beyond ourselves before bowing out at the given moment, quietly, but with grace just like the saints marching on to glory!
The life and times of High Chief Dr O. B. Lulu Briggs OON, DCF, DSSRS; the Iniikeiroari the fifth of Kalabari Kingdom and Paramount Head of Oruwari Briggs House of Abonnema evokes the very essence of divine mandate, the core and call of true humanity, the priceless worth of celestial benevolence and the sheer beauty of purified compassion etched in unfailing love to all and sundry, crested with abiding devotion to God Almighty and furnished with unfettered flow of abundance; not just of earthly wealth and splendour but of enduring values and life itself. He came, he saw and conquered. He had it all.
Opuda, as he is fondly called, meant so many things to so many people. To some, he was the quintessential Kalabari chief, entrepreneur and a national statesman. To others, he was a repository of prodigious resources and a philanthropist par excellence. And yet to others, he was a citizen of the world. But in all, he epitomized hard work, love and enduring service to humanity.
In 1930, God in His benevolence bequeathed to mankind a unique gift in the person of young O. B. Lulu-Briggs. His earthly life started like an epic drama. He was the only surviving son of his parents. Death robbed him of his father, Pa Benson Lulu-Briggs when he was barely 9 years of age. He found succour under the prayerful and steady guidance of his grandmother, Agbani and his mother, the elegant Madam Rachael Kioba Harrison Lawson, a matriarch, whose life of resourcefulness and generosity influenced young Olu Benson immensely.
High Chief’s humble beginning belied his descent from the royal lineage of Opuda Young Briggs Iniikeiroari, Oruwari II, founder and defender of Abonnema. His pedigree manifested in his towering physique, pleasant handsomeness, imposing appearance and a regal gait that never failed to command attention wherever he went.
In pursuit of the Golden Fleece, young Olu started his primary school in Abonnema. Education would later take him to Calabar and Jos. Opuda’s strong determination to succeed in life and his motivation to acquire qualitative education and exposure galvanised him to focus on private learning to get his academic qualifications and later went to the United Kingdom for advanced studies. This strong will to succeed marked him out and elevated him even among his contemporaries.
Opuda commenced his working life as a clerk at the Mandilas and Karabaris. It was his career with the Nigerian Ports Authority, NPA, from 1955 that demonstrated how great he was going to become. By sheer dint of hard work and with God’s favour on his side, he had a meteoric rise through the ranks to principal Industrial Relations Officer. He served as secretary of NPA’s workers’ Union for seven years and chairman of the Maritime Trade Union Federation, Eastern Port from 1968-1971.
In these positions, he successfully performed the delicate and impressive balancing act of championing the cause of workers while ensuring that they performed to mutually agreed standards of productivity. By the time he voluntarily retired in April 1978, he had risen to the position of Head Industrial Relations, in the Eastern Port of Nigeria. At the time it was practically unheard of for a Nigerian to attain such an exalted position and resign voluntarily. But Lulu was no ordinary person, his ambition was lofty and his stage on earth was broader than what NPA could offer, and so he left to continue on his ambition of selfless service to other men.
“All the world is a stage and we all play different parts and exit. But there are men like Opuda who have many major parts to play and by God’s grace play all successfully”.
The desire to affect the cause of national politics for the better informed Opuda’s purposeful venture into partisan politics at the onset of the second republic. He was one of the founding fathers of the then ruling party, The National Party of Nigeria, NPN and served as national vice- chairman for Rivers State from 1979-1980 and later, the deputy national chairman of the party from 1980-1983. In this capacity, he played the politics of equity and fairness founded on protecting the rights of the minorities in an indivisible Nigeria.
Opuda was blessed with immense business savvy, His success in business predates his political days. Soon after he left public service he set up a chain of businesses. They included Lubrik Nigeria Limited, Ludal Nigeria Limited, Rachael Hotels Limited, Krakrama Investment Limited and Rachael Holdings. When in the early 1990s the federal government of Nigeria deregulated the upstream sector of the Nigerian oil industry, Opuda in his usual determined manner pioneered the indigenous foray into the erstwhile expatriate-dominated hydrocarbon exploration and production sector of the Nigerian economy when he incorporated Moni Pulo Ltd, an oil and gas company in 1992.
He was among the few Nigerians that were awarded oil prospecting licences at the time. His desire to build a global standard indigenous organisation propelled him to delve into the very volatile and risky business of actual exploration and production. This was at a time most awardees sold off their oil prospecting licences to foreign concerns for immediate gains. The company has since carved out a niche for itself as a world-class company of note, employing and empowering many Nigerian professionals long before the Nigerian content act made it mandatory.
“The highest form of worship is the worship of unselfish Christian worship; The highest form of praise is the sound of consecrated feet seeking out the lost and helpless”, BILLY GRAHAM.
As a receiver of divine abundance, Opuda elevated philanthropy to the status of an admirable art form, giving credence to the adage that givers never lack. As a true citizen of the world Opuda’s philanthropy had no limits. To formalise the process and to ensure objectivity, Opuda and his beloved wife, Dr. Mrs. Seinye O. B. Lulu-Briggs in 2001 founded the O. B. Lulu-Briggs Foundation, a not-for-profit charity dedicated to uplifting lives and reaching the unreached with the milk of human kindness. For nearly 2 decades with Opuda as the Foundation’s Grand Benefactor, had been active in five thematic areas. These are Care For Life, Education and Scholarships, Free Medical Mission, Micro-Credit and Entrepreneurship and Access to Portable Water and Sanitation. The Foundation remains active today in the safe hands of his beloved wife and continues to impact lives across the Niger Delta.
The O. B. Lulu-Briggs Foundation gives daily care to the aged and infirm in rural communities by providing them with food and medicine for as long as they live. It has a functional recreation centre for the elderly in Abonnema, furnished with modern facilities where previously homebound and ignored senior citizens now interact daily, receive nutritious meals twice daily and medical attention. A second recreational home was also built in Egbema town Abua, Rivers State. For the many homeless and abandoned elderly, the O. B. Lulu-Briggs Foundation provides succour by building decent homes for them.
Through the Free Medical Missions of the foundation, Opuda provided free health care services to over 150,000 persons across 4 states of the Niger Delta. Such medical Services cover free consultation, free drugs, ophthalmic treatment with fee eyeglasses and surgeries of all kinds. In addition to routinely organising lectures on Prostrate Cancer and conducting free PSA tests, the foundation sponsors many people with special health challenges for treatment in hospitals within and outside Nigeria. The most recent is the free Uterine Fibroid and after-care service offered to 100 indigent women in partnership with the Rivers State University Teaching Hospital and the University of Port Harcourt Teaching Hospital.
Opuda’s imprint on education was equally massive. Through the O. B. Lulu-Briggs Foundation, he awarded countless scholarships at Primary, secondary and Tertiary levels to indigent and deserving students including overseas post-graduate scholarships. He built and equipped science laboratories to encourage children in the Niger Delta to gain interest and proficiency in the sciences. He endowed academic chairs in Petroleum Geo-sciences in the University of Port Harcourt and in the University of Texas, USA. He also built and equipped a health centre at the University of Port Harcourt, Hostel blocks in the Niger Delta University, Bayelsa state, and sponsored research in Parkinson’s disease in Rochester Research Institute in Lebanon and New York. From 2009 till date, the O. B. Lulu-Briggs Foundation provides annual grants and Laptops to law students of Rivers origin to enable them to attend and participate fully in the Nigerian Law School.
Through the Micro Finance and Empowerment programme of the Foundation, Opuda empowered women and youths in rural communities by setting up Small and Medium Scale Enterprises (SMEs). He boosted existing businesses with the provision of financial resources and requisite training and made them competitive. He further granted organised cooperatives access to interest-free revolving loans. Over a thousand lives have been impacted so far.
The lack of ready access to safe drinking water in most rural communities and the attendant prevalence of diseases such as Cholera, Dysentery, Intestinal and other Worm infestations caught the attention of the high chief. By his benevolence communities had clean, safe and quality drinking water. Sanitary conditions in Port Harcourt and Degema prisons were uplifted with the construction of multi-functional boreholes with multiple pumps and two septic tanks.
In recognition of his selfless service to humanity, two international service organisations, Rotary International and Lions Club International at various times honoured him. Opuda and his wife humbly wore their pins as Paul Harris Fellows and major donors of rotary international. In 2003 the federal government of Nigeria decorated him with the national honour of the Officer of the Order of the Niger, OON. He held the key to the city of Houston, Texas, as an honorary citizen. The University of Port Harcourt and Rivers State University in 2006 and 2011 respectively awarded him the Degrees of Doctor of Science Honoris Causa. From the sublime Riverine community of Krakrama in Rivers State to the rocky hills of Ijero Ekiti, he received numerous titles: SE-BRAMABO, OPOMULERO, HIGH CHIE KE EFIK EBURUTU,
EBUBE DIKE, EFUN ALAYE and many more titles. As a peacemaker and promoter of Kalabari culture and tradition, Opuda in 2006 led the Oruwari Briggs House of Abonnema to reconcile and reintegrate with the Abonnema council of chiefs, a feat that brought much-needed peace to Abonnema, The Amayanabo of Kalabari and Kalabari Sekobiri in recognition of this and his numerous contributions to society, in the same year honoured him and his wife at a grand reception ceremony.
Other awards bestowed on him were the Defender of Christian Faith (DCF) by communion of Pentecostal Bishops, Golden Jubilee Petroleum award, Opobo International Boat Race Man-of-the year Award. He is a recipient of Thisday Newspaper Lifetime Achievement Award and The Silverbird Extraordinary Achievement Award 2016. On 15th March 2018 in the same year of his passing, the African independent television honoured him with a Lifetime Achievement Award for Outstanding Achievement in Philanthropy.
In an unprecedented show of respect for his lineage and with a deep understanding of the importance of knowing and honouring one’s forebears, Opuda in 2005 organised a week-long centennial celebration in honour of the achievements of his great grandfather, Young Briggs Iniikeiroari, Oruwari II. Between 20th and 26th December 2005, Opuda brought together an unprecedented number of the sons and daughters of Briggs, both within Nigeria and in the diaspora to participate in the series of events that drew an assemblage of guests to Abonnema. The rich culture and tradition of the people was on display as well as a re-telling of the story of the history of the people so that they do not forget the ties that bind them so closely together.
The Holy Bible instructs us to honour our parents so that our days will be long. In their lifetimes Opuda respected his parents as much as he could and when in his later years the opportunity came to honour their memories, he demonstrated what dutiful children should do as memorials to their parents. Between the 19th and 25th of March 2007, he celebrated the 30th memorial of his mother, Madam Rachael Kioba Harrison Lawson. The magnitude and colour of the events made Buguma the host city a tourist destination of some sort.
April 2008 was yet another date with history as it afforded Opuda the opportunity to fulfil a life-long yearning to ensure the homecoming of his father, Pa Benson Lulu-Briggs, who passed on and was buried in faraway soil in Emekuku. In view of Papa’s royal lineage, nothing short of a royal burial in his home soil would suffice. The ceremony was as grandiose as it was meaningful; passing on the message to those present that it was never too late to honour one’s parents within one’s abilities.
A lover of devotional hymns, he devoted a large proportion of his resources to the service of the church. At the time most churches were struggling with using traditional music to minister to troubled souls, Opuda acquired Pipe organs hitherto found only in the like of West Minster Abbey, England and distributed them to various churches. Apart from providing regular financial assistance to churches, he assisted in the building of church projects all over Nigeria, like the Bishops Court at Ijero Ekiti, the building and equipping of our saviour’s Hospital, Port Harcourt and a modern school, the Anglican Girls Secondary School in Sama, Rivers State.
Opuda in his later life committed himself to evangelism using the platform of the O. B. Lulu-Briggs Campaign for Christ to spread the Word to Chiefs and Royal fathers of Rivers state.
Opuda’s commitment, love and care for his family was profound. In his wife and confidant Dr. (Mrs.) Seinye O. B. Lulu-Briggs, he had the proverbial helpmeet, his missing rib. She helped to give expression and actualisation to his great vision of transforming lives and society. To Seinye, her husband was a unique and totally one-of-a-kind unrepeatable human being. Her favourite verse that describes him is found in the book of the Songs of Solomon, Chapter 2:3-4 “Like an Apple tree among the trees of the woods. So is my beloved among the sons. I sat down in his shade with great delight, And his fruit was sweet to my taste. He brought me to the banqueting house and his banner over me was love”.
On the 27th of December 2018 the great man, High Chief Dr O. B. Lulu-Briggs passed on to glory at the golden age of 88, shortly after arriving Accra Ghana for his annual vacation with his wife.
The curtain was drawn on his long full illustrious life. There is no continent in the world he did not visit. Troubled with extreme arthritis that kept him wheelchair-bound in his later years, he remained very active, hosting and attending social and traditional functions, evangelizing and travelling around the world regularly. There was never a dull moment with him. He remained Chairman/Chief Executive Officer of Moni Pulo Limited, the oil production company he founded.
Since his passing there has been an overflowing outpouring of condolences from all walks of life. Each sector of society has turned up to pay respect to a man whose benevolence knew no bounds. Both the high and low have nothing but endearing words for the remarkable life that he lived.
In truth, the choicest of words are not enough to describe his legendary frame. Tributes are too weak and no eulogy can sufficiently capture what High Chief Dr. O. B. Lulu-Briggs was to mankind. He was a man who has done great things and has left indelible marks on the sands of time.
According to High Chief O. B. Lulu-Briggs (2015) “You cannot always control the cards that life deals you and you must stand up and play your best possible hand.”
As Opuda sojourns to glory, we who are left with precious memories from our interactions with him are minded to shine our own lights as brightly as he did to make our worlds a beautiful place for all.
First published in pmnewsnigeria.com, December 27, 2019
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Society
EFCC grants ex-Delta gov, Okowa, bail over alleged N1.3trn fraud
Published
1 day 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
2 days 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
2 days 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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