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Nigeria’s Cross River State second to commence construction of its Special Agro-Industrial Processing Zone

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African Development Bank

The African Development Bank Group has committed $934 million to SAPZs in 11 African countries

Nigeria’s Cross River State became the second to mark construction of a Special Agro-Industrial Processing Zone after the country’s Vice President Kashim Shettima and African Development Bank (www.AfDB.org) President Dr. Akinwumi Adesina broke ground at the project site on Thursday 10 April.

The SAPZ aims to tackle food insecurity, enhance local production, and position Nigeria as a food export leader by leveraging Cross River’s ports and research assets to boost global trade, reduce food imports, and drive prosperity through the agro-industrialization of crops like cocoa and cassava.

The groundbreaking in Cross River follows that of Kaduna (http://apo-opa.co/42Mquvu) which took place few days earlier. Six other states – Kano, Kwara, Imo, Ogun, Oyo, and the Federal Capital Territory – are included in Phase 1 of the $538 million SAPZ program, with plans to expand to the remaining 28 states this year pending the African Development Bank’s Executive Board approval for Phase 2 funding.

Shettima emphasized the project’s priority and need for national collaboration: “The SAPZ program has been recognized as a national priority for food security in Nigeria.” He noted, “There is no better time than now for the federal and state governments, development partners, the private sector, and our communities to work hand in hand to ensure the success of the SAPZ project.”

Adesina celebrated the milestone, saying, “Today is a big day for Nigeria,” and added, “The Special Agro-Industrial Processing Zones is bringing good news to Nigeria, State Governments and Local Governments. Good news to farmers, agribusinesses, and all rural areas of Nigeria. Good news of jobs, wealth, and prosperity with agriculture as a business.

“With the abundant arable land, cheap labor and vast agro-ecological areas, Nigeria should not be importing food,” said Adesina who was accompanied by his wife Grace Yemisi Adesina.

The Bank Group president highlighted Cross River’s export potential: “Bakasi deep seaport will turn the state into a logistics hub in Nigeria and the Gulf of Guinea, enabling trade with Cameroon, Equatorial Guinea, and Guinea Bissau.”

Bakasi deep seaport will turn the state into a logistics hub in Nigeria and the Gulf of Guinea, enabling trade with Cameroon, Equatorial Guinea, and Guinea Bissau

The 130-hectare Agro-Industrial Hub in Adiabo will leverage the Calabar Sea Port, Bakassi Deep Sea Port, a 23 kVA power plant in Tinapa, and a 630 kVA Calabar Power Plant. Its Agricultural Transformation Centre, supported by the Cocoa Research Institute of Nigeria and the University of Calabar, lies less than 45 minutes from Ikom, Etung, and Boki, boosting cocoa production for global markets.

Governor Bassey Otu outlined the state’s vision, saying, “For us in Cross River State, the establishment of clusters of smallholder farmers focused on staple and cash crops such as rice, cassava, millet, cocoa, and oil palm is a vital step toward agro-industrialization.”

“These initiatives are aimed at strengthening food security, diversifying our state’s economy toward export-oriented agriculture, and boosting our GDP,” added Governor Otu, saying the state should expect to see a big difference in two years.

The African Development Bank Group is investing $210 million, including $50 million from its Africa Growing Together Fund. The Islamic Development Bank is contributing $150 million, the International Fund for Agricultural Development is contributing $100 million, the Green Climate Fund is contributing $60 million, and the government is contributing $18 million.

Speaking during the occasion, the International Fund for Agricultural Development’s Country Director, Dede Ekoue, noted that the SAPZ will build on the Livelihood Improvement Family Enterprises in the Niger Delta (LIFE-ND) project which has empowered 26,000 youth and women agripreneurs in the Niger Delta, including 4,000 in Cross River, with plans to scale to 100,000 by 2028.

The Minister of Agriculture and Food Security, Abubakar Kyari, said, “The SAPZ program is a powerful catalyst for economic growth and import substitution. By investing in agro-processing development, we are investing in the future of our communities.”

The African Development Bank Group has committed $934 million to SAPZs in 11 African countries. The 2024 Africa Investment Forum (http://apo-opa.co/42eqx33), held in Morocco, recorded $2.2 billion in investor interest for 28 Nigerian states, which make up the second phase of the project.

Adesina explained that with the Special Agro-Industrial Processing Zones, Nigeria will reduce food imports, conserve foreign exchange, expand local production and processing of food and agricultural commodities, strengthen the Naira, and attract significant private investment into the development of agricultural value chains.

The Special Agro-Industrial Processing Zones will also revive and transform rural economies and create millions of jobs.

Adesina was accompanied by the African Development Bank Vice President for Agriculture, Human and Social Development Dr Beth Dunford, the Director General for Nigeria Dr Abdul Kamara, Prof Oyebanji Oyelaran-Oyeyinka, Senior Special Adviser on Industrialisation, Director Richard Ofori-Mante, Director of the Agricultural Finance and Rural Development Department, and Dr Yusuf Kabir, National Coordinator for SAPZ, Nigeria.

Distributed by APO Group on behalf of African Development Bank Group (AfDB).

Business

Liberia to Preview Next Oil & Gas Licensing Round Strategy at Houston Investor Day

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The Liberia Petroleum Regulatory Authority will host operators, investors and partners in Houston on August 19 to preview future licensing opportunities and showcase the exploration potential of its offshore basins

HOUSTON, United States of America, August 7, 2026/APO Group/ –The Liberia Petroleum Regulatory Authority (LPRA) will present its strategy for the country’s next offshore licensing round at Liberia Investor Day Houston on August 19, bringing together international exploration companies, investors, service providers and energy leaders to discuss the next phase of Liberia’s upstream development.

Hosted in partnership with Energy Capital & Power, the event will provide a platform for the LPRA, led by Director General Hon. Marilyn T. Logan, to outline Liberia’s regulatory framework, investment priorities and plans to attract new participation across the country’s offshore sector. Discussions will focus on upcoming licensing opportunities, exploration prospects and the subsurface data supporting future investment decisions.

Liberia’s offshore sector is entering a new phase of exploration activity, with renewed international participation and a growing pipeline of opportunities. Following the award and ratification of eight Production Sharing Contracts in 2025, Liberia has re-established itself as a frontier exploration destination, with international operators advancing work programs designed to further evaluate the country’s petroleum potential. TotalEnergies is progressing exploration activities that include offshore geochemical surveys, 3D seismic acquisition and seabed mapping, while Oranto Petroleum has also signed contracts to explore Liberia’s offshore.

At the Liberia Investor Day Houston, the LPRA will provide industry stakeholders with insight into the priorities shaping the next licensing round, including the anticipated process, qualification requirements, available acreage and access to technical data. The engagement will give prospective investors a clearer view of Liberia’s exploration landscape and the opportunities emerging across its offshore basins.

The event will also facilitate direct dialogue between LPRA and the global upstream community, connecting companies with policymakers and industry stakeholders involved in shaping Liberia’s next chapter of petroleum development.

As exploration companies continue to seek new frontier opportunities, Liberia Investor Day Houston will highlight the role of regulatory certainty, data availability and strategic partnerships in unlocking long-term investment across Liberia’s offshore sector.

Registration is now open for attendees. Companies interested in Liberia’s emerging offshore opportunities are invited to join LPRA, investors and upstream leaders in Houston for insights into the country’s licensing strategy and exploration outlook. For more information contact info@energycapitalpower.com.

Distributed by APO Group on behalf of Energy Capital & Power.

 

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Beyond Stabroek: Guyana’s Offshore Basin Attracts New Wave of Exploration Investment

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Etu Energias

As ExxonMobil advances appraisal activity in Stabroek and new operators target frontier acreage, Guyana is attracting global capital and building a diversified offshore portfolio designed to sustain long-term growth

GEORGETOWN, Guyana, August 7, 2026/APO Group/ –Guyana’s transformation into one of the world’s fastest-growing oil producers is entering a new phase, with a growing network of IOCs expanding exploration activity across the country’s offshore basin. Beyond the landmark discoveries that first put Guyana on the global energy map, new drilling campaigns and licensing partnerships are creating a broader exploration ecosystem designed to support long-term production growth.

At the center of this momentum is ExxonMobil’s continued exploration and appraisal activity in the prolific Stabroek Block. The company has submitted a proposal for a 35-well exploration and appraisal drilling campaign, expected to run from 2028 through 2033, pending regulatory approval. The program would build on more than 30 commercial discoveries already made in the block, with drilling activity focused on evaluating new prospects and appraising existing discoveries to support future development opportunities.

Exploration activity is also extending into Guyana’s frontier acreage, with ExxonMobil advancing drilling operations at the deepwater Canje Block. The company has deployed the Noble Stena Carron drillship for exploration activity, highlighting continued industry interest in evaluating Guyana’s underexplored offshore potential beyond the established Stabroek Block.

Guyana’s strong exploration outlook comes as the country’s economy continues to benefit from rapid oil sector expansion, with hydrocarbons expected to remain a key driver of exports, government revenues and economic growth. As production scales up, attracting additional investment across exploration, services and infrastructure will be critical to supporting the next phase of development.

That momentum is being reinforced through partnerships established under Guyana’s 2023 offshore licensing round. A consortium comprising TotalEnergies, QatarEnergy and Petronas is advancing exploration activities in Block S4 under a five-year production sharing agreement signed with the government in late 2025. The award represents one of the first major outcomes of the licensing round and demonstrates continued international confidence in Guyana’s offshore resource potential.

Beyond the largest operators, a diverse group of companies is also expanding activity across Guyana’s offshore basin. Eco Atlantic is advancing exploration at the Orinduik Block; CGX Energy and Frontera Energy are progressing work in the Corentyne Block; Occidental is evaluating opportunities in the Roraima Block; while Ratio Guyana and Cataleya Energy hold interests in the Kaieteur Block. Together, these partnerships are broadening Guyana’s exploration landscape, increasing competition for acreage and creating opportunities for future discoveries.

As Guyana transitions from an emerging producer to a global energy hub, the next challenge will be converting exploration success into sustainable investment, local value creation and regional growth. These opportunities will be explored at Caribbean Energy Week 2027, held under the theme “Unlocking the Caribbean Energy Corridor: Oil, Gas, LNG & Investment for a New Global Hub.” Bringing together governments, IOCs, investors and technology providers, the event will examine how Guyana’s expanding partnerships can accelerate offshore development, strengthen regional energy cooperation and attract the capital needed to support the Caribbean’s evolving energy landscape.

Distributed by APO Group on behalf of Energy Capital & Power.

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Energy Capital & Power Establishes London Entity, Expanding Global Platform for Energy and Mining Events

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Energy

The move strengthens ECP’s presence in the UK and Europe, and its ability to connect African and South American markets with global investors

LONDON, United Kingdom, August 6, 2026/APO Group/ –International events company Energy Capital & Power (ECP) (www.EnergyCapitalPower.com) has officially established its UK entity in London, marking a milestone in the company’s growth strategy and reinforcing its ability to deliver world-class energy and mining events and campaigns in the UK and Europe.

By establishing a presence in a key hub like London – the pre-eminent energy and mining finance center – ECP actively shapes the global energy conversation. The expansion positions ECP to better serve clients, partners and investors seeking to develop business opportunities between Africa, Europe, the Americas and energy markets worldwide.

Opening our UK company brings ECP closer to key investors in the global energy finance capital

The milestone comes as ECP strengthens its reach through a series of investment platforms that connect global capital to energy and mining projects. These include the Venezuela Energy Week London Showcase on July 30 – with over 300 delegates registered – and the annual Invest in African Energy Forum, held in Paris as the premier event connecting global investors to Africa’s energy transformation.

ECP hosts high level summits and investor conferences in leading energy and minerals producing countries in Africa and South America, including: Venezuela Energy Week; Angola Oil & Gas; MSGBC Oil, Gas & Power; African Mining Week; Libya Energy & Economic Summit; Congo Energy & Investment Forum; South Sudan Oil & Power; and Caribbean Energy Week. The company has hosted investor forums and supported licensing round roadshows in Houston, London and Paris since 2016.

“Opening our UK company brings ECP closer to key investors in the global energy finance capital,” states CEO James Chester. “Having a permanent presence in London further cements our footprint in Europe, enabling us to fulfil our mission to bring minerals and energy investment to diverse global markets.”

With teams located across Africa, Europe and the Americas, ECP has long-facilitated strategic engagement, market intelligence and industry convening, uniting investors with leading energy and mining projects.

Distributed by APO Group on behalf of Energy Capital & Power.

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