Business
Sahara Group Foundation Unveils Global Extrapreneurship Model
The social impact vehicle of energy conglomerate, Sahara Group, the Sahara Group Foundation (SGF), has unveiled its transformative Extrapreneurship strategy across Africa, Asia, Europe, and the Middle East.
Biztellers reports that the social impact strategy was aimed at driving integrated economic and community empowerment programs through collaborative partnerships and support for innovative as well as scalable business in the focus regions.
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Director, Governance and Sustainability, Sahara Group, Ejiro Gray, said in New York that the SGF had over the years implemented interventions focused on promoting the sustainable development goals, recording over two million beneficiaries across Sahara’s business locations.
According to Gray, the new strategy ensures the Foundation continues to actively drive the attainment of 11 of the 17 SDGs through “inclusive and progressive partnerships”.
“We are excited that with Extrapreneurship we can provide extra impetus to Africa’s march towards bringing sustainable development to African communities working through extrapreneurs, who through the support of Sahara Group Foundation can take their ideas and solutions to greater heights,” she said.
Similarly, Head of Programs at SGF, Chidilim Menakaya, expressed optimism that the EXTRApreneurship Strategy will promote economic growth in local communities through platforms that give entrepreneurs, social innovators, inventors, and small businesses access to honing their craft and scaling their businesses, “one community at a time”.
“Our Extrapreneurship model is designed to help Sahara Group Foundation play a key role as a bridge for economic empowerment and sustainable development by linking beneficiaries to sundry support platforms valued at 100 million USD, ultimately creating an ecosystem of collaborators working towards transforming Africa,” she said.
Menakaya noted that the SGF’s new model aims to prepare the entrepreneurial community for the future of work through the integration of artificial intelligence in the Extrapreneurship framework.
“These community entrepreneurs, or what we call EXTRApreneurs will not only drive forward thinking organizations but also empower ambidextrous individuals who are the backbone of the SME sector, a pivotal force for driving economic growth,” she added.
She revealed that the Extrapreneurship program would identify and support innovators, entrepreneurs, inventors and researchers who have developed proven sustainable products or solutions to everyday problems using locally available resources.
This will be done through financial, advisory and investment support as well as building business hubs within the community leveraging the business niche area of each community.
The SGF, she noted, will continue to drive its recycling initiative, an environmental sustainability and economic empowerment initiative that converts waste to wealth.
The Nigerian equities market closed Friday’s trading session on a negative note, with the All-Share Index declining by 0.38 per cent to close at 252,113.41 points.
According to the Nigerian Exchange Group’s Daily Market Snapshot for Friday, September 25, 2026, equity market capitalisation stood at ₦163.65 trillion, representing a 0.01 per cent decline.
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The fixed-income market capitalisation also fell by 0.01 per cent to ₦58.74 trillion, while the market capitalisation of Exchange-Traded Products (ETPs) declined by 2.15 per cent to ₦57.77 billion.
Meanwhile, the top five gainers were led by a stock that rose 10 per cent to close at ₦17.60, followed by CMFC, which gained 9.76 per cent to ₦3.26. Briscoe rose 9.74 per cent to ₦10.70, ABC Transport gained 9.68 per cent to ₦5.10, while Royal Exchange increased by 9.09 per cent to ₦1.08.
The figures were contained in the NGX Daily Market Snapshot released at the close of trading on Friday.
More than 100 Chinese original equipment manufacturers are being wooed for investment, technology and manufacturing capacity to aid growth in Nigeria’s oil and gas industry.
The Nigerian Content Development and Monitoring Board (NCDMB) made the disclosure through its Director, Project Certification and Authorisation Division and Senior Technical Adviser to the Executive Secretary, Austin Uzoka.
This was detailed in a statement issued by the Board which stated that Uzoka was representing the Executive Secretary, Felix Ogbe, at the 15th China Shale Oil and Gas Summit in Chengdu, China, where he made the disclosure.
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According to Ogbe, the board was seeking to move the relationship between Nigerian oil and gas operators and Chinese manufacturers beyond the conventional buyer-seller model to investment, manufacturing, technology transfer and integration into global supply chains.
He said the Nigerian Oil and Gas Content Development Act (NOGCDA) guaranteed patronage for oil and gas equipment manufacturing facilities established in Nigeria, adding that such investments could also provide access to opportunities across the Gulf of Guinea.
“We are looking beyond the traditional buyer-seller relationship. What can we build together? We want Chinese companies to see Nigeria not simply as a market for their products, but as a strategic investment destination, a platform for manufacturing and technology development, and a gateway to opportunities across the wider African market,” he said.
He highlighted the Nigerian Oil and Gas Park Scheme (NOGPS) as a platform for Chinese original equipment manufacturers to establish manufacturing, assembly and service operations in Nigeria.
He said the scheme would provide opportunities for technology transfer, technical arrangements and the integration of Nigerian businesses into the supply chains of Chinese companies.
The ES also identified China’s capabilities in manufacturing, engineering, technology and energy infrastructure as areas that could support Nigeria’s industrial development.
“China has developed tremendous capabilities in manufacturing, engineering, technology and energy infrastructure. We want to explore how those capabilities can be connected with the opportunities that exist in Nigeria, for mutual benefits,” he added.
Nigeria’s local content policy had evolved from increasing Nigerian participation in oil and gas projects to a broader industrial development agenda focused on manufacturing, technology ownership and global competitiveness, he pointed out.
“Nigeria’s local content journey has evolved significantly since the local content law was enacted in 2010. What began primarily as an effort to increase Nigerian participation in the oil and gas industry has developed into a broader industrial development agenda focused on building capabilities, deepening manufacturing, promoting technology ownership and positioning Nigerian businesses to compete within regional and global markets,” he observed.
The engagement formed part of Nigeria’s participation in the 15th China Shale Oil and Gas Summit, held from September 20 to 23 at the Chengdu Century City International Conference Centre.
The summit, themed ‘Empowering Efficient and Green Development via Intelligent Technologies, Innovating to Lead the Shale Oil and Gas Revolution’, provided a platform for Nigerian oil and gas stakeholders to showcase investment opportunities in manufacturing, technology and oil and gas services.
According to the NCDMB, several Chinese OEMs expressed interest in exploring business relationships with Nigerian companies and participating in the country’s growing oil and gas manufacturing ecosystem.
In her closing remarks, the General Manager, Midstream, PCAD, Ms Lekoma Phimia, urged stakeholders to build on the connections established at the session to develop commercially viable and sustainable business relationships.
The NCDMB also used the exhibition to provide prospective investors and industry players with information on Nigeria’s oil and gas sector, local content opportunities and avenues for establishing operations in the country.
The board said the Chengdu engagement was part of efforts to expand Nigeria’s international industrial connections and advance the objectives of the Nigerian Oil and Gas Industry Content Development Act (NOGICDA).
It added that its focus was to move the local content agenda from participation to capability, manufacturing, and ultimately technology ownership and regional competitiveness.
NIPCO Group has announced plans to develop a Floating Liquefied Natural Gas (FLNG) project in Nigeria, with the proposed development estimated to require more than $3bn in investment.
This statement was made at a press conference on Thursday by the Managing Director of NIPCO Group, Nagendra Verma, who said the proposed project would have an envisaged LNG production capacity of approximately three million tonnes per annum, subject to the outcome of feasibility studies, regulatory approvals and a final investment decision.
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Verma said the project, which would mark NIPCO’s entry into the Liquefied Natural Gas (LNG) sector, was being considered for locations in the Escravos area of Delta State and the Akwa Ibom region.
“This proposed development is envisaged to comprise an FLNG facility along with associated marine and export infrastructure with the potential to serve both the international LNG market and growing domestic LNG demand in Nigeria. The proposed project is presently envisaged to produce LNG unified LNG of approximately 3 million L per annum, 3 million metric tons per annum. The proposed development is expected to represent a significant investment currently estimated in excess of $3bn.
“The final location shall be determined subsequent to the ongoing feasibility study. We are looking at strategic locations that will facilitate access to upstream gas resources, LNG processing, marine transportation and both international and domestic markets,” he said.
According to him, NIPCO had been evaluating the proposed FLNG project for the past six to nine months and was currently undertaking preliminary technical, commercial and feasibility assessments.
“We are considering various development concepts, technology solutions, financing structures and commercial options with a view to establishing a technically robust and commercially sustainable project,” Verma said.
He said the proposed development would comprise an FLNG facility alongside associated marine and export infrastructure, with the potential to serve international LNG markets as well as Nigeria’s growing domestic gas demand.
“The project is presently envisaged to have an LNG production capacity of approximately three million tonnes per annum.
“However, this remains subject to the outcome of the ongoing feasibility and technical studies, project economics, regulatory approvals and final investment decisions,” he said.
Verma said NIPCO was also evaluating the shipping and logistics infrastructure required to support both export and domestic LNG supply.
The Managing Director said the ongoing assessment covers upstream gas supply and reserves, FLNG technology and configuration, LNG production capacity, marine and export infrastructure, domestic LNG supply opportunities, shipping and logistics requirements, project economics and financing structure.
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