Law & Crime
Renaissance MD, Attah at Nigerian Content Lecture, Predicts Merger of Operators, Outlines Funding Instruments for Projects
By David Owei,Bayelsa
Managing Director of Renaissance Africa Energy Company Limited, Engr. Tony Attah has predicted that many indigenous oil and gas operators in Nigeria will within the next decade consolidate strategically and form consortiums to take advantage of emerging opportunities.
He delivered a presentation at the Nigerian Content Academy Lecture on Thursday, entitled “Finding Funds for Effective and Efficient Local Content Initiatives – IPPG Perspective,” and projected that “five big Nigerian independent oil companies will emerge in the next 10 years in Nigeria. The future of this industry and business in the world is about collaboration.”
He lauded the significant growth in the operational and funding capacities of indigenous operating companies, resulting in their successful acquisition and operation of fields recently divested by some international operating companies (IOCs).
He observed that “when IOCs leave matured basins in other climes, international independents take over from them. But Nigerian independents take over in Nigeria. That transition is showing value today. More than 50 percent of Nigerian crude oil production is associated with independents. I see a future where more Nigerian independents would have to consolidate. Renaissance here, Seplat is here. The consolidation would have to be among the others to create the other three or five.”
He shared insight on the successful formation of Renaissance Energy by a consortium of four Nigerian, and one international companies, namely ND Western Limited; Aradel Energy Limited; Waltersmith Petroleum Development Company Limited; First Exploration and Petroleum Development Limited; and Petrolin Trading Limited. He attributed the success of the deal to enduring collaboration, tenacity and ambition among the founding companies.
Engr. Attah, a former Managing Director of Nigeria LNG Limited and Shell Nigeria Exploration and Production Company (SNEPCo) also outlined veritable funding mechanisms which players in the African energy sector could deploy to navigate global funding and operational challenges.
He dwelt exhaustively on Capital Markets/Stock Exchange Listing; Private Equity and Eurobond; Strategic Partnerships/Joint Venture Structures and International Oil Company (IOC) Carry Arrangements; Prepayment/Offtake Financing, and Bank Facility.
He underscored the need for “Bankability Criteria,” under which he listed proven reserves, financial covenant (minimum coverage ratio over the loan life), governance and transparency, stable production profile, hedging strategy (robust hedging to protect against downside price risk), operator track record, and proven Health Safety and Environment (HSE), uptime, and production execution track record.
He disclosed that industry players need an operational mindset anchored on a creedal mantra – ABC (Ambition, Belief (in that Ambition) and Courage) – as they set about exploring the different funding mechanisms available. He noted that “finding a solution to funding gaps is a big opportunity in itself,” while encouraging industry players to ensure that their organisations have structure, guarantee, and system.
He advised all indigenous players to guard against weak business models, excessive focus on projected profits, and weak balance sheets. “Without structure, governance and ambition, nobody will finance you,” he stated.
The Renaissance CEO expressed appreciation for the emergence of the African Energy Bank, established by the African Petroleum Producers’ Organisation (APPO) and the African Export-Import Bank (Afreximbank), with significant financial backing by the Nigerian Content Development and Monitoring Board (NCDMB), but called for more of similar initiatives, stating that the Bank is yet to attain the level of financial capability to meet the continent’s industry funding requirements.
“Accelerating Africa’s energy financing is a challenge,” he noted, pointing out that “equity financing is not everything,” and that the industry operator has to be clear about what he is also bringing into the business. His belief is that Africa needs to do business with Africa.
Engr. Attah declared that local content in Nigeria is “no longer a policy aspiration; it is a capital execution challenge,” while urging indigenous players to embrace the ABC creed and work toward achieving targets for growth and expansion, bearing in mind that “without adequate funding, newly acquired assets will under-invest.” According to him, “You need the mindset of creating value; money will come,” as “capital follows value.”
In the Question-and-Answer segment, the former Director of the Nigerian Content Academy, Dr. Ama Ikuru, remarked that independents (indigenous upstream operators) have been remiss in fulfilling their obligations to their vendors, repeatedly failing to pay them when due. To that, Engr. Attah responded by advising independents against acts that would diminish their brand. He urged them to always fulfill contractual obligations. “Your business will not grow if you keep owing,” he warned.
The former Vice Chairman of the Petroleum Technology Association of Nigeria (PETAN) and Executive Chairman of Radial Circle Group, Engr. Ranti Omole, inquired what Renaissance and other successful Independents could do to boost prospects of growth among service companies. The Guest Lecturer assured of rewarding business engagements.
Professor Babs Oyeniyi, who participated from Edinburgh, United Kingdom, wondered why Nigeria’s oil and gas industry appears stuck with old, retired industry employees, continually inviting them to provide critical services. Engr. Attah attributed the trend, which he described as worldwide, to shifting interests and attention as youths today are moving into areas of Artificial Intelligence/Robotics, and fewer and fewer technically competent hands in the country.
Earlier in her opening remarks, the General Manager, Nigerian Content Academy, NCDMB, Ms. Doris Opuwari, had noted that funding constraints have for so long constituted barriers to growth and expansion among indigenous players in the industry, expressing hope that the Guest Lecturer of the day, Engr. Attah was eminently qualified to point the way forward.
In a goodwill message/closing remarks, the Director, Corporate Services, NCDMB, Dr. Abdulmalik Halilu, thanked Engr. Attah for a thoroughly researched and exhaustive work on the subject which he believed would be most beneficial to industry players. He also thanked the nearly 200 participants at the zoom event for their interest and sustained attention.
Law & Crime
Cooking Gas Price Surge: HURIWA Condemns Economic Cruelty, Says Uncontrolled Profiteering Violates Citizens’ Right to Life
By George Mgbeleke
The Human Rights Writers Association of Nigeria (HURIWA) expresses deep outrage and grave concern over the alarming escalation in the price of Liquefied Petroleum Gas (LPG), commonly known as cooking gas, which is now reportedly selling for as much as N2,000 per kilogram in many parts of Nigeria.
This disturbing development has pushed cooking gas beyond the reach of millions of ordinary citizens and has further worsened the already unbearable cost-of-living crisis confronting Nigerian households. It is unacceptable that in a nation blessed with abundant natural resources, citizens are being subjected to economic conditions that make basic survival increasingly difficult.
HURIWA strongly asserts that the astronomical rise in the price of cooking gas is not merely an economic issue but a fundamental human rights concern. The direct consequence of making essential household energy unaffordable is mass hunger, malnutrition, disease, and avoidable deaths among vulnerable populations. Families already struggling with rising food prices, transportation costs, electricity tariffs, and healthcare expenses are now being forced to choose between cooking their meals and meeting other basic necessities.
The association maintains that this situation offends the spirit and provisions of Chapter IV of the Constitution of the Federal Republic of Nigeria, particularly the fundamental right to life. While the Constitution places a solemn obligation on government to safeguard the lives and welfare of citizens, the prevailing atmosphere of unchecked price increases is producing the exact opposite effect.
A government that watches helplessly while essential commodities become inaccessible to the majority of citizens cannot claim to be fully discharging its constitutional and moral responsibilities. The right to life is not limited to protection from bullets and violent attacks; it also encompasses the obligation of the state to create conditions that make life sustainable and dignified. When citizens are pushed into extreme deprivation through unchecked economic hardship, the consequences are often fatal.
HURIWA is particularly alarmed by what appears to be the absence of effective regulatory intervention to curb the activities of profiteers who exploit citizens during periods of economic uncertainty. No serious democracy permits unrestrained profiteering at the expense of public welfare. Across the world, responsible governments deploy regulatory mechanisms, market interventions, strategic reserves, consumer protection frameworks, and anti-monopoly measures to prevent exploitative pricing of essential commodities.
It is therefore unacceptable that under the current administration, Nigerians are being left at the mercy of market forces and profit-driven actors whose actions are worsening poverty and deepening social misery. Government cannot continue to distance itself from the suffering of the people by attributing every hardship to market realities while citizens sink deeper into economic despair.
The Tinubu administration must immediately investigate the factors responsible for the outrageous increase in cooking gas prices and take urgent steps to stabilize the market. Regulatory agencies must be empowered to identify and sanction individuals and companies engaged in exploitative pricing practices. The government should also consider targeted interventions and fiscal measures capable of reducing the cost burden on consumers.
HURIWA warns that continued inaction could trigger wider social and humanitarian consequences, including increased dependence on firewood and charcoal, environmental degradation, worsening public health conditions, and greater hardship for already impoverished households.
The association reiterates that governance must ultimately be measured by its impact on the lives of citizens. Any economic policy or regulatory failure that results in widespread hunger, suffering, and preventable deaths cannot be justified under any democratic system.
Nigerians deserve a government that actively protects them from economic predators, safeguards their welfare, and upholds the constitutional guarantee of the right to life and human dignity.
Law & Crime
Eight suspected fake pastors arraigned in. Court in Anambra
By Our Correspondent
In a bid to rid the state of criminal activities, eight suspected fake pastors arrested from Onitsha, Awka and other parts of Anambra State were on Friday arraigned at the Anambra State High Court, Awka, the state capital
The eight pastors arraigned in court include, Peter Chukwu, Chinedu Egwuonwu, Bishop Emeka Nwankpa, Ebele Nnachukwu and Ekeleme Chris Ugochukwu
According to a government source, and media adviser to state Governor , Mr Ejimofor Opara the pastors who he described as fake pastors violated the 2025 Homeland Security Law.
The prosecution marks one of the most significant legal actions taken under the relatively new security legislation, which the state government says was enacted to tackle insecurity, fraudulent spiritual practices, and criminal networks operating under various disguises.
The defendants were brought before the court by operatives of Agunechemba, the state’s security outfit, in a case that is already attracting public attention across Anambra and beyond.
Leading the prosecution is the Attorney General and Commissioner for Justice, Tobechukwu Nweke (SAN), underscoring the significance the state government attaches to the matter.
The arraignment follows months of investigations and enforcement actions by state authorities targeting individuals accused of operating outside acceptable religious and social boundaries.
Recall that last year, some native doctors who were promoting get-rich-quick practices were also arrested. While some has been prosecuted and hailed, others are still undergoing trial.
.The latest court action comes against the backdrop of the Anambra State Government’s ongoing campaign to sanitize the religious and traditional sectors, which authorities claim have increasingly been infiltrated by individuals allegedly encouraging criminal behavior through deceptive spiritual practices.
Law & Crime
About seven SANs expected to grace 2026 NBA Law Week in Niger state
By Uthman-Baba Naseer,Minna
Not fewer than seven Senior Advocate Of Nigeria (SANs) are expected to participate at the Minna Branch of Nigerian Bar Association (NBA) 2026 Law week which commenced with special Juma’at prayers.
The Chairman organizing Committee of the Minna Branch NBA 2026, Law Week Mallam Mohammed Abdukadir Waziri Esq, disclosed this at a media briefing in Minna in preparation to the Law Week.

He stated that the a Week- long programme of the Law Week is dedicated to professional development, Knowledge sharing,networking and promotion of the ideals of the legal profession.
According to the organizing Committee Chairman,the Minna Branch of the NBA is set to host a variety of activities “ carefully designed to engage members of the Bar,deepen legal discourse and strengthen the bonds of fellowship within the legal community”.
The Bar week, with the theme “ Law,Governance and Politics: The role of the legal Profession in Advancing the rule of Law in Nigeria’s Democracy”, which will also discuss intellectual sessions, sporting engagements, social events and opportunies for interaction among legal practitioners and stakeholders.
He disclosed further,that members of branch will participate in Health Walk while the evening will feature a BBQ and indoor Games session at the High Court Complex while on Monday,the 8th of June, members will collect Law Week materials and the Chief of Niger State Justice Halima Ibrahim Abdulmalik will host members for Cocktail.
Abdukadir Waziri pointed that the event proper will formally be declared open on Tuesday,the 9th June 2026 with the Grand opening ceremony,which is expected to attract eminent members of the Bench,Bar government officials and other distinguished guests.
Speaking further,Waziri stated that keynote speaker will be a reknown legal luminary in the North Abdul Muhammad Rafindadi,a Senior Advocate of Nigeria ,while the Chief Judge of Niger State will chair the session and the Attor- General and Commissioner for Justice in Niger State will be host
While commending member local organizing Committee of the 2026 Minna Law Week, Abdukadir Waziri noted that the NBA Minna Branch remains Committed to advancing professional excellence,promoting continuos learning and fostering unity among members.
-
Politics1 year agoGov Okpebholo moves to end Cultism *Threatens action against leading cult groups *Vows to demolish more cult houses in Edo State
-
Politics9 months agoASUU-NDU protest against FG loans, unpaid salaries,Non-Implementation of agreements …..says loans is generational slavery
-
Business & Economy10 months agoPC-NCG Issues Disclaimer on Purported Nigerian Coast Guard National Orientation Exercise In Anambra State
-
Entertainment2 years agoJubilation galore as Parishioners of CKC Kurudu celebrate their cultural heritage ….FG should exploit our Cultural heritage to unite Nigerians-Rev Fr Dim
-
Sports4 months agoBayelsa-born ex-football star’s son, Opuama donates spike shoes to Athletics Association
-
General News2 years agoReps hold public hearing on FMC Ugwuaji Awkunanaw
-
Law & Crime11 months agoLegal practitioner raises alarm over threat to his life by CSP Muhammed Abdulkareem
-
General News2 years agoCelebration galore as UDA Successfully Elected New Exco ……I will digitalize processes that will raise UDA to greater height -Comr. Okejiri
