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The Nigerian National Petroleum Corporation (NNPC) Inks Floating Liquefied Natural Gas (FLNG) Heads of Agreement with UTM Offshore

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Petroleum

The Nigerian National Petroleum Corporation signed a Heads of Agreement with UTM Offshore Limited for a 20% equity contribution of the NNPC in the UTM FLNG project, a milestone set to significantly improve access to gas-based cooking in the country

JOHANNESBURG, South Africa, July 20, 2023/APO Group/ — 

The Nigerian National Petroleum Corporation (NNPC) signed a Heads of Agreement with Nigerian oil and gas company UTM Offshore Limited for the UTM Floating Liquefied Natural Gas (FLNG) project – a planned FLNG vessel set to produce 176 million cubic feet of gas per day from the Yoho Field. The agreement lays out the terms of the NNPC’s 20% equity contribution of the FLNG project, and represents a milestone in advancing domestic gas utilization in Nigeria.

The African Energy Chamber (AEC) believes that this is a monumental step towards scaling up access to clean cooking solutions in Africa, with the project and agreement serving as a blueprint for other resource-rich countries across the continent. With the agreement, liquefied petroleum gas (LPG) will become increasingly accessible to the Nigerian market, thereby reducing costs of the product while improving health, environmental protection and employment across the country.

The agreement showcases the NNPC’s commitment to ensuring domestic gas resources reap tangible rewards for the local population. According to NNPC Group Managing Director Mele Kyari, “No matter the amount of reserves you have underground, if you haven’t brought it up to the surface, you have done nothing. This is why we are very interested in this project and we are going to do our own part to ensure its success. Be assured that NNPC is solidly behind this project.” (https://apo-opa.info/44RVGaT)

Nigeria has over 200 trillion cubic feet of proven gas reserves, resources which hold immense opportunities for the country and wider region

Signed at the NNPC headquartered in Abuja this week, the agreement serves as the next step towards finalizing this important project. The FLNG facility is expected to be complete by 2026, and comprises a turret mooring system, gas pre-treatment modules, Liquefied Natural Gas (LNG) production modules, living quarters, self-contained power generation and utilities alongside storage and offloading. Last year, UTM Offshore inked the Front-End Engineering and Design contract with Kellogg Brown and Root; Japan Gas Corporation; and Technip Energies.

According to Julius Rone, Group Managing Director of UTM Offshore, “Final Investment Decision is expected to be taken in the fourth quarter of 2023 with planned project start up in the fourth quarter of 2026. When completed, it will produce 1.7 million tons per annum of LNG and 300,000 metric tons of LPG which will be fully dedicated to the domestic market. The project is estimated to provide direct employment for 3,000 Nigerians and indirect employment for an additional 4,000 people. The LPG produced will help bring down the price of cooking gas, improve the socioeconomic wellbeing of Nigerians, reduce deforestation and carbon emissions.”

Rone believes that the agreement is a testament to the company’s commitment to advancing access to clean cooking solutions in the country. With the new agreement, the partners have formalized the domestic LPG components and have additionally secured the backing of one of the country’s biggest energy firms, the national oil company NNPC.

“The agreement signed between the NNPC and UTM Offshore is a testament to the commitment of the Nigerian government to advancing access to clean cooking solutions in Africa. Nigeria has over 200 trillion cubic feet of proven gas reserves, resources which hold immense opportunities for the country and wider region. Rather than continue with historic trends which would see African oil and gas exported as unprocessed hydrocarbons, both the NNPC and UTM Offshore have prioritized domestic consumption. This project is a milestone development for the country and the Chamber commends the efforts being undertaken by the project partners to get it off the ground,” states NJ Ayuk, Executive Chairman of the AEC.

Distributed by APO Group on behalf of African Energy Chamber

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

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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.

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

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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.

 

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

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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).

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