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
NMDPRA Sets Digital Gas Distribution Licence Auction Date
With the completion of a nationwide gas-grid mapping exercise expected in October, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has revealed that the digital licensing round for gas distribution areas will happen before the end of 2026.
The Authority Chief Executive, Engr. Rabiu Umar, made the disclosure on Wednesday at the Gas Investment Forum 2026, themed “Positioning Nigeria as Africa’s Global Gas Powerhouse.”
Umar said applicants would bid for gas distribution licences in designated areas across the country under a process similar to the award of Oil Mining Licences (OMLs) in the upstream sector.
“Under the licensing round, applicants will bid for gas distribution licences in the gridded areas available across the country, in the same way licensees apply for Oil Mining Licences (OMLs) in the upstream sector,” he said.
READ ALSO: MT Asharami Ghana Delivers 5,000MT LPG Cargo to Ghana
He said the initiative was part of efforts to move Nigeria from a fragmented gas-access system to an open-access regime that would allow more participants to use existing infrastructure.
“Without infrastructure, reserves are potential. They will continue to have potential,” Umar said.
“With infrastructure, gas becomes productivity and national resilience, especially in the light of the global headwinds that we see.”
According to him, the country needs infrastructure capable of moving gas from wellheads to processing plants, power stations, industrial clusters, transport corridors, homes and export terminals.
Umar said the Federal Government’s Decade of Gas Initiative was serving as an “engine of execution”, while NMDPRA was accelerating licences and approvals for gas processing plants, pipelines, storage facilities, compressed natural gas (CNG) and liquefied natural gas (LNG) projects.
Energy
MT Asharami Ghana Delivers 5,000MT LPG Cargo to Ghana
As part of efforts to position Ghana as a strategic hub for regional energy trade, MT Asharami Ghana, a 40,000-cubic-metre Liquefied Petroleum Gas (LPG) carrier has delivered 5,000 metric tonnes of LPG in its maiden voyage to Ghana, thus boosting efforts to strengthen energy security, and LPG supply reliability.
Purpose-built to serve Ghana and neighbouring markets, MT Asharami Ghana forms part of Sahara Group’s integrated LPG infrastructure strategy across Africa.
Welcoming the vessel, Hon. Dr. John Abdulai Jinapor, Minister for Energy and Green Transition, described the arrival of MT Asharami Ghana as a major boost to Ghana’s clean energy ambitions.
“The arrival of MT Asharami Ghana represents a significant step forward in our quest to expand access to cleaner energy solutions for Ghanaians. As we work towards increasing LPG adoption across the country, investments like this are essential to strengthening supply reliability and achieving our clean cooking objectives.”
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The Minister said Ghana’s ambition of increasing LPG utilisation and improving energy security can only be achieved through strong partnerships between government and responsible private-sector investors.
“We commend Sahara Group for standing shoulder-to-shoulder with Ghana over the years in supporting our aspirations for energy security, economic growth and sustainable development. The success of our energy transition journey depends on credible and committed partners.”
According to Wale Ajibade, Executive Director, Sahara Group, the vessel represents far more than an investment in maritime infrastructure.
Ajibade noted that Ghana’s target of increasing LPG adoption in 50 per cent of households by 2030, up from about 30 per cent today, makes investments in supply infrastructure increasingly important.
“At Sahara, we see MT Asharami Ghana as a symbol of confidence in Ghana’s future and the country’s growing role in regional energy trade. It reflects our unwavering belief in Ghana’s immense potential and our determination to work alongside stakeholders to deliver sustainable energy solutions that improve lives, create opportunities and drive inclusive growth.”
He added that the vessel is part of a broader, integrated infrastructure strategy combining shipping, storage, and downstream distribution to strengthen Ghana’s LPG value chain.
Yaa Serwaa Alifo, Managing Director, Asharami Ghana, described the vessel’s arrival as the culmination of a vision and a bold statement of the company’s commitment to Ghana’s energy future.
“What we are celebrating here is the culmination of a vision and a bold statement of our commitment to Ghana’s energy future. Asharami Ghana will help ensure that homes, businesses and families across Ghana have reliable access to cleaner cooking fuel,” she said.
Alifo acknowledged the support of the Government of Ghana, the Ministry of Energy and Green Transition, the National Petroleum Authority, Sahara Group’s leadership, and all stakeholders whose collaboration helped bring the project to fruition.
As demand for LPG continues to grow across the sub-region, investments in marine infrastructure such as MT Asharami Ghana will become increasingly important in ensuring security of supply, operational efficiency, and sustainable economic growth.
Energy
NNPC Flaunts $800m Ima FID, as Affirmation of Upstream Viability
The $800 million Final Investment Decision (FID) on the Ima Gas Project (IGP) has been described as a landmark development that affirms the growing viability of Nigeria’s upstream gas sector.
The Nigerian National Petroleum Company Limited (NNPC Ltd) flaunted the project, located offshore in OMLs 112 and 117 and developed by AMNI International in partnership with TotalEnergies, noting that it will produce about 300 million standard cubic feet of gas per day at peak.
It added that the output will supply critical feedgas to the Nigeria LNG Limited in support of its Train 7 expansion, which will increase capacity at the Bonny Island plant from 22 million tons per annum to 30 Mtpa.
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This was detailed in a statement in which the state oil major stressed that the FID was enabled by the presidential directives of 2024, which provided fiscal incentives for non-associated gas, streamlined contracting and lowered development costs.
Group Chief Executive Officer, NNPC Ltd, Bayo Ojulari described it as “a decisive vote of confidence in Nigeria’s gas sector and in the bold reforms” that have created competitive terms and a predictable investment environment.
The NNPC Ltd also commended the collaboration between AMNI, TotalEnergies and the Nigerian financial sector, saying the model of indigenous operator, international partner and domestic capital is a template for future developments.
“NNPC reaffirms its commitment to work with government, regulators and industry partners to sustain investment momentum and deploy Nigeria’s gas resources for industrialisation, job creation and long-term prosperity,” the statement added.






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