Energy
Revelations On The “Unseen Hands” Fighting Dangote Refinery: A Deep Dive
In 2022, the Nigerian National Petroleum Corporation (NNPC) announced the acquisition of OVH Energy, a subsidiary of Oando, which operates Oando filling stations.
This move was intended to integrate OVH Energy with NNPC Limited, the entity responsible for downstream operations, including refining, marketing, and distribution of petroleum products.
However, new revelations suggest a different narrative, one that has significant implications for the Nigerian oil industry.
In reality, it appears OVH Energy, rather than being acquired, has taken control of NNPC Retail.
Following the merger, Huub Stokman, formerly the CEO of OVH, assumed the role of Managing Director of NNPC Retail, replacing the Nigerian MD, Margret Okadigbo.
This change has raised concerns among NNPC insiders, with one key official describing the transaction as “the worst possible acquisition deal ever.”
Barely a month after President Bola Ahmed Tinubu took office in June 2023, OVH Energy began to assert its dominance over NNPC Limited’s operations. An investigation by Premium Times, which included interviews with key NNPC personnel, confirmed that OVH Energy now effectively controls NNPC Retail.
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Despite the controversy, NNPC Managing Director Mele Kyari defended the merger, citing an all-time high profit of N18.4 billion attributed to the deal with OVH Energy.
However, this financial success story is contradicted by NNPC’s subsequent actions.
In September 2023, it was revealed that the NNPC had borrowed $1.036 billion to acquire a mere 7.2% stake in the Dangote Refinery, far short of the 20% initially agreed upon. Kyari later admitted that NNPC lacked the funds to purchase the remaining 12.8% of the shares, despite the previous claims of high profits.
Moreover, NNPC is now seeking to borrow an additional $2 billion for undisclosed purposes, raising further suspicions of financial mismanagement. This situation has led to a fierce conflict between Dangote and NNPC over the Dangote Refinery.
Amidst this turmoil, the role of Oando and its CEO, Wale Tinubu, has come under scrutiny.
Wale Tinubu, who is President Bola Ahmed Tinubu’s nephew and long-time business associate, has a history of controversial business dealings. Their partnership dates back to 2002, when Bola Tinubu, as Governor of Lagos, established Alpha-Beta, a company that has been accused of being a conduit for siphoning funds.
These developments have led to widespread allegations of corruption and cronyism, with many pointing fingers at the highest levels of government. As the battle over the Dangote Refinery intensifies, it is clear that the power dynamics within Nigeria’s oil industry are shifting, driven by unseen hands and questionable deals.
The implications of these revelations are far-reaching, potentially affecting Nigeria’s economic stability and public trust in its institutions. As more details emerge, the true extent of the “unseen hands” fighting for control of the Dangote Refinery will undoubtedly become clearer, raising critical questions about governance and accountability in Nigeria.
Energy
Minister of Power, Adelabu Champions Mini-Grids Amid Northern Power Crisis
In the wake of a prolonged power crisis impacting Northern Nigeria, Minister of Power Adebayo Adelabu visited the Zawaciki 1MWp mini-grid project in Kano, underscoring the potential of decentralized renewable energy solutions to alleviate regional power shortages.
The project, operated by Bagaja Renewables, provides daytime electricity to the Gida Dubu community, offering a vital source of power as the region faces widespread blackouts.
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Sadiq Zakari, Managing Director of Bagaja Renewables, welcomed the Minister to the facility and highlighted the critical timing of the visit.
“Bagaja Renewables had the distinct honor of welcoming the Honorable Minister of Power to the Zawaciki 1MWp interconnected mini-grid,” Zakari said.
“This visit comes at a critical time, as Northern Nigeria endures a prolonged blackout, underscoring the urgent need for alternative power solutions.
The Zawaciki mini-grid has been instrumental during this crisis, providing at least 9 hours of daytime electricity to the Gida Dubu community, demonstrating the potential of renewable energy in addressing the region’s energy needs.”
Minister Adelabu praised the Zawaciki project as a model for interconnected mini-grids nationwide, noting its role as a sustainable solution for communities grappling with unreliable power supply.
“The Honorable Minister expressed admiration for the Zawaciki project, recognizing it as a viable proof of concept for interconnected mini-grids across Nigeria,” Zakari stated.
“He emphasized the importance of such initiatives and called on state governors and other key stakeholders to support efforts to decentralize and strengthen the nation’s power infrastructure.
By backing projects like Zawaciki, stakeholders can play an instrumental role in reducing reliance on the national grid and ensuring a more stable power supply for local communities.”
Zakari underscored the transformative potential of private-sector renewable energy projects in Nigeria’s power landscape.
He said, “As we have witnessed here at Zawaciki, private-sector-driven renewable energy solutions can transform Nigeria’s energy landscape. With the right policies and support, we can empower communities and enhance energy resilience, even in times of national power instability.”
In addition to the Zawaciki project, Bagaja Renewables is developing several renewable energy initiatives across Northern Nigeria. Among these are:
Barhim Estate, Katsina: A residential power initiative aimed at expanding energy access for households in the region.
Kura-Karfi Commercial Cluster, Kano: Focused on delivering clean and reliable power to commercial areas, this project aims to support local businesses and stimulate economic growth.
Kafin Hausa, Jigawa: With site fencing completed, Bagaja Renewables is preparing to begin technical design and engineering work for a mini-grid in Kafin Hausa, slated to start construction soon.
Zakari said, “These projects represent Bagaja Renewables’ unwavering commitment to building a resilient, decentralized, and renewable-powered energy future across Northern Nigeria.
“Bagaja Renewables is dedicated to collaborating with the government and stakeholders to scale up renewable energy solutions that will support communities, industries, and essential services.
“We believe that decentralized power generation is the future for Nigeria, and we are eager to contribute to a sustainable, reliable, and inclusive energy system for all.” he added
Energy
Power Restored In Four Northern States After 10-Day Blackout
Power has been restored across Plateau, Bauchi, Gombe, and Benue States, bringing relief to residents who endured a 10-day blackout.
The Jos Electricity Distribution Company confirmed that electricity was reinstated around 7:20 p.m. on Wednesday, prompting celebrations in Jos, the Plateau State capital, and other affected areas.
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The prolonged outage was caused by the tripping of a major 330kV transmission line between Benue and Enugu states, leaving several northern states without power.
The blackout severely impacted daily life and economic activities, with residents expressing frustration over the disruption to businesses, healthcare services, and personal livelihoods.
In response, President Bola Tinubu took swift action, summoning Minister of Power Adebayo Adelabu and National Security Adviser Nuhu Ribadu to address the crisis.
Presidential Adviser Bayo Onanuga disclosed on Monday that President Tinubu directed the Ministry of Power and relevant agencies to expedite restoration efforts.
“President Tinubu is deeply concerned about the reports of vandalism and deliberate destruction of essential power infrastructure,” Onanuga said in a statement.
“The President has tasked TCN engineers with bringing immediate relief to the affected states and implementing a long-term solution to prevent future outages.”
Energy
Nigerian Power Supply: FGN Nears PPI Completion
The Federal Government of Nigeria Power Company (FGN Power Company) has announced significant progress in the pilot phase of the Presidential Power Initiative (PPI), which is set to revolutionize the nation’s electricity transmission landscape.
The initiative, in partnership with Siemens, aims to enhance the country’s power infrastructure through the deployment of advanced technology and equipment.
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Kenny Anuwe, the Managing Director and CEO of FGN Power Company, revealed that the installation and commissioning of eight power transformers across key locations are now complete.
The transformers have been successfully deployed in Ajah, Maryland, Apo, Okene, Ihovbor, Amukpe, Potiskum, and Birnin Kebbi, resulting in a notable increase in the transmission wheeling capacity by 569.6 megawatts (MW).
In addition to the transformers, three mobile substations are operational in Ajah, Jebba, and Kawnar Dangora, further boosting the transmission capacity by an additional 151.2 MW.
Anuwe emphasized that these enhancements are pivotal in addressing the energy needs of the country and supporting economic growth.
Looking ahead, Anuwe stated that the transmission network will be augmented by an impressive 720.8 MW, with plans to commission the remaining equipment to deliver at least another 500 MW by the end of 2024.
This strategic initiative is expected to significantly improve power distribution and reliability, marking a transformative step towards a more robust energy sector in Nigeria.