Yemisi Izuora The Eko Electricity Distribution PLC (EKEDP) has announced a significant leadership transition as Transgrid Enerco takes over the board of EKEDP. The previous board by the previous majority shareholder, West Power and Gas Limited (WPG) led by Chairman Dere Otubu resigned today and gave way to the new board headed by Engr. (Dr.) Olubunmi Peters as Chairman, Prof. George Nwangwu, Faruk Aliyu, Kolapo Joseph and Rasheed Olaoluwa, while Ayo Gbeleyi remains as the Director representing the BPE on the board. In similar vein, Rekhiat Momoh steps down from her position as Chief Executive Officer. The new Board…
Author: orientalnewsng
Yemisi Izuora Oil major TotalEnergies has signed an agreement to sell its 10 per cent non-operated stake in the Nigerian onshore oil asset in Renaissance Joint Venture (JV). The choice of Vaaris,is as a result of failed sale move last year to Mauritius-based Chappal Energies. The deal includes stakes in three other licences producing mainly gas for Nigeria LNG, in which Total will retain full economic interest. Company registrations show Vaaris Resources JV CO Limited was incorporated in Nigeria on December 22, 2025. Total offered no further information on the new buyer, according to Reuters. Last year, the Nigerian Upstream Petroleum Regulatory…
Yemisi Izuora The Chairman of Dangote Industries Limited (DIL), Aliko Dangote, through his legal representative, has filed a formal corruption petition against former Managing Director of the Midstream Downstream Petroleum Regulatory Authority (NMDPRA), Farouk Ahmed, at the Economic and Financial Crimes Commission (EFCC). This move follows the withdrawal of the same petition from the Independent Corrupt Practices and Other Related Offences Commission (ICPC), a strategic decision aimed at accelerating the prosecution process. In the petition signed by Lead Counsel Dr. O.J. Onoja S.A.N, Dangote urged the EFCC to investigate allegations of abuse of office and corrupt enrichment against Mr. Ahmed…
THE family of Princess Nwamaka Mediatrix Chigbo, an Abuja-based lawyer, is saddened to announce her brutal death at the hands of still-to-be-identified kidnappers in the Nigerian Federal Capital Territory on Monday, 5th January 2026. Before her abduction, Barrister Nwamaka was on the phone with her sister Anthonia, who briefly interrupted the call to attend to a client. When she reverted, the barrister’s phone was still live, and Anthonia could hear her sister’s distress cry before the phone suddenly went dead and unreachable. Anthonia alerted her elder sister, Maureen Chigbo, and other family members, who called the lawyer’s number repeatedly to…
Officers from the Nigeria Customs Service (NCS) Apapa Area Command, in a landmark collaboration with the National Drug Law Enforcement Agency (NDLEA), delivered a significant blow to international drug trafficking networks by intercepting 30 slabs of high-grade cocaine totaling 30.1 kilograms. The contraband was meticulously concealed onboard the MV Aruna, a Marshall Islands-flagged general cargo vessel, at the bustling Greenview Terminal within Apapa Port, Lagos Nigeria’s premier maritime gateway. The operation unfolded on Friday, January 2, 2026, marking the very first working day of the new year. Acting on credible intelligence, joint teams conducted a thorough search of the…
The Board and Management of Sovereign Trust Insurance Plc STI have announced the appointment of Dr. Lucas A. Durojaiye as the new Managing Director/Chief Executive Officer (MD/CEO) of the Company, following the retirement of the immediate past MD/CEO, Mr. Olaotan Soyinka, in December 2025. Mr. Soyinka served the organization meritoriously for 27 years, including his last 10 years as Managing Director/Chief Executive Officer, during which he contributed to the growth and stability of the company. He has since formally exited the services of the underwriting firm. The appointment of Dr. Lucas A. Durojaiye has received the approval of the Board…
Yemisi Izuora Heirs Energies, has completed the acquisition of the entire 20.07 per cent equity stake (120.4 million ordinary shares) previously held by Maurel & Prom S.A. in Seplat Energy Plc (Seplat Energy) at a price of GBP3.05 pence per share, valuing the transaction at approximately US500 million. The acquisition represents a further milestone in Heirs Energies’ long-term strategy to strengthen indigenous participation in strategic assets and accelerate sustainable energy development and security for Nigeria and Africa. Commenting on the transaction, Tony Elumelu, Chairman of Heirs Energies, said: “This acquisition reflects our strong belief in Africa’s ability to own, develop, and…
Yemisi Izuora Key transformation is underway in Eko Electricity Distribution Company (EKEDC) following Transgrid Enerco Limited acquisition of a 60 per cent controlling interest in the company. The DisCo is expected to transit into a range of new deals that would involve infrastructure projects to achieve quality service delivery. The transaction which is valued at about N360 billion, was initially expected to close by April 2025, and was finalised on December 30, making it one of the largest privately negotiated takeovers in Nigeria’s electricity distribution sector since the 2013 privatisation. West Power & Gas Limited (WPG), the former core investor, had…
Uche Cecil Izuora Geometric Power, has experienced full gas supply after recent nationwide gas crisis that caused most Nigerians to celebrate Christmas without light. This fact was made known by the Southeast zone of the Electricity Consumers Association of Nigeria (ECAN). In a statement signed by the Southeastern ECAN chairman, Engr Joe Ubani, and the secretary, Comrade Chris Okpara, the association revealed that the 188MW Geometric Power Plant in the Osisioma Industrial Layout of Aba resumed full operations on Monday following normal natural gas supply from its partner, Heirs Energies Ltd. “We have it on good authority that two of…
Yemisi Izuora Aradel Holdings Plc, an indigenous integrated energy company, says its wholly-owned subsidiary, Aradel Energy Limited, has successfully completed the acquisition of an additional equity interest in ND Western Limited, following the fulfilment of all regulatory and contractual conditions precedent. The transaction, previously announced on 24th October 2025, involved the acquisition of a 40 per cent equity interest in NDW from Petrolin Trading Ltd. With the completion of the transaction, Aradel Energy Limited’s shareholding interest in NDW increased from 41.67 per cent to 81.67 per cen, and NDW has become a subsidiary of Aradel Energy Limited. The acquisition also…