Connect with us

Business

African Energy Chamber (AEC) Sponsors Nigeria’s National Judicial Institute (NJI) Workshop on Petroleum Industry Act

Published

on

African Energy Chamber

The African Energy Chamber’s sponsorship of Nigeria’s National Judicial Institute’s workshop underscores its steadfast commitment to advocating for streamlined legal processes within Africa’s oil and gas sector

ABUJA, Nigeria, June 12, 2024/APO Group/ — 

The African Energy Chamber (AEC) (www.EnergyChamber.org) – the voice of the African energy sector – is sponsoring a workshop led by Nigeria’s National Judicial Institute (NJI). The workshop – held under the theme Innovations Under the Petroleum Industry Act 2021 and their Implications in Adjudication and in partnership with Investin234 Promotion Services Limited – aims to equip members of the Nigerian judiciary with comprehensive knowledge of the recent changes in the oil and gas sector brought about by the Petroleum Industry Act (PIA) of 2021. This initiative is essential for creating an enabling environment, ensuring the sanctity of contracts and restoring both investor and citizen confidence in Nigeria’s oil and gas industry.

The AEC’s sponsorship aligns with its strategic focus on promoting research and development in the petroleum and gas sectors. The workshop offers a platform for the Nigerian legal industry to enhance investor confidence, promote Nigerian content in oil and gas disputes, and provide valuable industry feedback to the judiciary. For the AEC, sponsoring this workshop is more than just a gesture of support; it is a strategic move to fortify the judicial framework that underpins the energy sector.

A well-informed judiciary not only ensures fair adjudication but also fosters an environment conducive to sustainable investment and equitable growth

The International Chamber of Commerce in Nigeria estimates that Africa loses billions of dollars annually to business arbitrations conducted abroad. This is due to delays in the court process and a lack of sector-specific knowledge among adjudicators, which hampers the Nigerian economy and undermines local content aspirations. The Petroleum Industry Act 2021 – a framework for the oil and gas industry – introduces major changes in fiscal requirements, regulatory frameworks and governance structures. For these changes to be effective, the judiciary must be well-versed in the new regulatory environment and its implications. The AEC believes a knowledgeable judiciary is crucial for resolving disputes efficiently within Nigeria and the rest of Africa, saving costs, enhancing investor confidence and promoting local content by keeping arbitration and its benefits within the country.

“A well-informed judiciary not only ensures fair adjudication but also fosters an environment conducive to sustainable investment and equitable growth,” states NJ Ayuk Executive Chairman of the AEC. “This collaborative effort between the energy sector and the judiciary not only strengthens the rule of law but also promotes transparency and accountability, essential pillars for fostering a thriving energy ecosystem in Nigeria and beyond.”

Bringing the judiciary up to speed with oil industry regulations is critical, especially in light of major developments such as Golar LNG’s recently launched FLNG project in the country. On June 10, the Nigerian National Petroleum Corporation signed a Project Development Agreement with LNG company Golar LNG for a FLNG facility offshore the Niger Delta. The project aims to monetize 400-500 million standard cubic feet per day (mmscf/d) of gas. Additionally, Nigeria recently commenced operations for three gas projects, including the expanded AHL Gas Processing Plant, the ANOH Gas Processing Plant and the 23.3km ANOH to Obiafu-Obrikom-Oben Custody Transfer Metering Station Gas Pipeline. These projects aim to collectively supply approximately 500 mmscf/d of gas to the domestic market, resulting in a 25% increase in gas supply.

Recently launched, Nigeria’s latest licensing round introduces 12 deep offshore and shallow water oil blocks, incorporating five blocks from the previous year’s round. Open for bidding until January 2025, the licensing round aims to attract both local and international explorers to the country’s acreage, with the overarching goal of expanding its reserve base and optimizing production.

In light of these initiatives, it is clear that judicial comprehension and adherence to regulations play a pivotal role. A robust legal framework ensures the fair allocation of licenses, transparent bidding processes, and the enforcement of contractual obligations. Moreover, regulations provide the necessary guidance for exploration activities, safeguarding environmental sustainability and ensuring compliance with industry standards.

Distributed by APO Group on behalf of African Energy Chamber.

Events

As global power structures shift, Invest Africa convenes The Africa Debate 2026 to redefine partnership in a changing world

Published

on

The Africa Debate 2026 will provide a platform for this essential, era-defining discussion, convening leaders to explore how Africa and its partners can build more balanced, resilient and sustainable models of cooperation

LONDON, United Kingdom, February 5, 2026/APO Group/ –As African economies assert greater agency in a rapidly evolving global order, Invest Africa (www.InvestAfrica.com) is delighted to announce The Africa Debate 2026, its flagship investment forum, taking place at the historic Guildhall in London on 3 June 2026.

Now in its 12th year, The Africa Debate has established itself as London’s premier platform for African investment dialogue since launching in 2014, convening over 800 global decision-makers annually to shape the future of trade, finance, investment, and development across the continent.

Under the theme “Redefining Partnership: Navigating a World in Transition”, this year’s forum will focus on Africa’s response to global economic realignment with greater agency, ambition and economic sovereignty.

The Africa Debate puts Africa’s priorities at the centre of the conversation, moving beyond traditional narratives to focus on ownership, resilience and long-term value creation.

“Volatility is not new to Africa. What is changing is the opportunity to respond with greater agency and ambition,” says Invest Africa CEO Chantelé Carrington.

“This year’s edition of The Africa Debate asks how we strengthen economic sovereignty — from access to capital and investment to financial and industrial policy — so African economies can take greater ownership of their growth. Success will be defined by how effectively we turn disruption into leverage and partnership into shared value.”

The Africa Debate 2026 will provide a platform for this essential, era-defining discussion, convening leaders to explore how Africa and its partners can build more balanced, resilient and sustainable models of cooperation.

Key challenges driving the debate

Core focus areas for this year’s edition of The Africa Debate include:

This year’s edition of The Africa Debate asks how we strengthen economic sovereignty — from access to capital and investment to financial and industrial policy

Global Realignment & New Partnerships

How shifting geopolitical and economic power structures are reshaping Africa’s global partnerships, trade dynamics and investment landscape.

Financing Africa’s Future

The growing need to reform the global financial architecture, new approaches to development finance, as well as the strengthening of market access and financial resilience of African economies in a changing global system.

Strategic Value Chains

Moving beyond primary exports to build local value chains in critical minerals for the green economy. Also addressing Africa’s energy access gap and mobilising investment in renewable and transitional energy systems.

Digital Transformation & Technology

Unlocking growth in fintech, AI and digital infrastructure to drive productivity, inclusion, and the next phase of Africa’s economic transformation.

The Africa Debate 2026 offers a unique platform for high-level dialogue, deal-making, and strategic engagement. Attendees will gain actionable insights from leading policymakers, investors and business leaders shaping Africa’s economic future, while building strategic partnerships that define the continent’s next growth phase.

Registration is now open (http://apo-opa.co/46b19gj).

Distributed by APO Group on behalf of Invest Africa.

Continue Reading

Business

Zion Adeoye terminated as Chief Executive Officer (CEO) of CLG due to serious personal and professional conduct violations

Published

on

After a thorough internal and external investigation, along with a disciplinary hearing chaired by Sbongiseni Dube, CLG (https://CLGglobal.com) has made the decision to terminate Zion Adeoye due to serious personal and professional conduct violations. This process adhered to the Code of Good Practice of the Labour Relations Act, ensuring fairness, transparency, and compliance with South African law.

Mr. Adeoye has been held accountable for several serious offenses, including:

  • Making malicious and defamatory statements against colleagues
  • Extortion
  • Intimidation
  • Fraud
  • Misuse of company funds
  • Theft and misappropriation of funds
  • Breach of fiduciary duty
  • Mismanagement

His actions are in direct contradiction to our firm’s core values. We do not approve of attorneys spending time in a Gentleman’s Club. CLG deeply regrets the impact this situation has had on our colleagues and continues to provide full support to those affected.

We want to express our gratitude to those who spoke up and to reassure everyone at the firm of our unwavering commitment to maintaining a respectful workplace. Misconduct of any kind is unacceptable and will be addressed decisively.

We recognize the seriousness of this matter and have referred it to the appropriate law enforcement, regulatory, and legal authorities in Nigeria, Mauritius, and South Africa. We kindly ask that the privacy of the third party involved be respected.

Distributed by APO Group on behalf of CLG.

 

Continue Reading

Business

The International Islamic Trade Finance Corporation (ITFC) Strengthens Partnership with the Republic of Djibouti through US$35 Million Financing Facility

Published

on

This facility forms part of the US$600 million, three-year Framework Agreement signed in May 2023 between ITFC and the Republic of Djibouti, reflecting the strong and growing partnership between both parties

JEDDAH, Saudi Arabia, February 5, 2026/APO Group/ –The International Islamic Trade Finance Corporation (ITFC) (https://www.ITFC-IDB.org), a member of the Islamic Development Bank (IsDB) Group, has signed a US$35 million sovereign financing facility with the Republic of Djibouti to support the development of the country’s bunkering services sector and strengthen its position as a strategic regional maritime and trade hub.

The facility was signed at the ITFC Headquarters in Jeddah by Eng. Adeeb Yousuf Al-Aama, Chief Executive Officer of ITFC, and H.E. Ilyas Moussa Dawaleh, Minister of Economy and Finance in charge of Industry of the Republic of Djibouti.

The financing facility is expected to contribute to Djibouti’s economic growth and revenue diversification by reinforcing the competitiveness and attractiveness of the Djibouti Port as a “one-stop port” offering comprehensive vessel-related services. With Red Sea Bunkering (RSB) as the Executing Agency, the facility will support the procurement of refined petroleum products, thus boosting RSB’s bunkering operations, enhancing revenue diversification, and consolidating Djibouti’s role as a key logistics and trading hub in the Horn of Africa and the wider region.

We look forward to deepening this partnership, creating new opportunities, and leveraging collaborative programs to advance key sectors and drive sustainable economic growth

Commenting on the signing, Eng. Adeeb Yousuf Al-Aama, CEO of ITFC, stated:

“This financing reflects ITFC’s continued commitment to supporting Djibouti’s strategic development priorities, particularly in strengthening energy security, port competitiveness, and trade facilitation. We are proud to deepen our partnership with the Republic of Djibouti and contribute to sustainable economic growth and regional integration.”

H.E. Ilyas Moussa Dawaleh, Minister of Economy and Finance in charge of Industry of the Republic of Djibouti, commented: “Today’s signing marks an important milestone in the development of Djibouti’s bunkering services and reflects our strong and valued partnership with ITFC, particularly in the oil and gas sector. This collaboration supports our ambition to position Djibouti as a regional hub for integrated maritime and logistics services. We look forward to deepening this partnership, creating new opportunities, and leveraging collaborative programs to advance key sectors and drive sustainable economic growth.”

This facility forms part of the US$600 million, three-year Framework Agreement signed in May 2023 between ITFC and the Republic of Djibouti, reflecting the strong and growing partnership between both parties.

Since its inception in 2008, ITFC and the Republic of Djibouti have maintained a strong partnership, with a total of US$1.8 billion approved primarily supporting the country’s energy sector and trade development objectives.

Distributed by APO Group on behalf of International Islamic Trade Finance Corporation (ITFC).

Continue Reading

Trending

Exit mobile version