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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.

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Rising Terror Attacks, Unrescued Schoolchildren Expose Failure of Security Leadership; Govt. Must Stop Playing Politics With Lives of Nigerians — HURIWA

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By George Mgbeleke

The Human Rights Writers Association of Nigeria (HURIWA) expresses profound outrage and disappointment over the continued deterioration of security across the country, particularly the inability of the Federal Government and the affected state governments to secure the rescue of schoolchildren abducted from schools in Oyo and Borno States more than a month after they were taken away by terrorists and criminal elements.

In a statement signed by National Coordinator, HURIWA,Comrade Emmanuel Nnadozie Onwubiko,the continued captivity of these innocent children is a national tragedy, a humanitarian emergency, and a damning verdict on the effectiveness of Nigeria’s security architecture. It is heartbreaking that while parents, relatives and concerned Nigerians agonize daily over the fate of these young victims, those entrusted with the responsibility of safeguarding lives and property appear unable to provide reassuring answers or tangible results.

HURIWA is particularly disturbed that despite the alarming escalation of terrorist attacks, kidnappings, mass killings and violent assaults on communities across several parts of the country, the response of government has largely been characterized by official statements, public relations exercises and political rhetoric rather than visible and measurable outcomes.

The association notes that the abduction of schoolchildren has become one of the most disturbing manifestations of Nigeria’s security crisis. Schools, which ought to be safe environments for learning and child development, have increasingly become soft targets for terrorists and criminal gangs. The inability of government to rescue the abducted children from Oyo and Borno States within a reasonable period sends a dangerous signal that criminal elements can operate with impunity while innocent citizens remain vulnerable.

HURIWA recalls that since the inception of the current administration, Nigeria has witnessed repeated incidents of terrorist attacks, banditry, kidnappings for ransom, attacks on farming communities, assaults on security formations, and violent incursions into rural settlements. Thousands of Nigerians have either lost their lives, sustained injuries, been displaced from their homes or suffered economic ruin as a direct consequence of the worsening insecurity.

Yet, despite these disturbing realities, not a single top security official has been held accountable for the repeated operational failures that have enabled terrorists and criminal gangs to continue their reign of terror. In functional democracies, persistent security failures attract consequences. Unfortunately, in Nigeria, accountability appears to be the missing link in the nation’s counterterrorism and internal security framework.

HURIWA maintains that no counterterrorism strategy can succeed when there is no clear mechanism for measuring performance, identifying failures and imposing consequences where necessary. Security leadership must be judged not by promises and speeches but by outcomes. The continued escalation of attacks and the inability to rescue abducted schoolchildren raise legitimate concerns about the effectiveness of the current security management structure.

The association therefore challenges the Federal Government to provide Nigerians with a comprehensive and transparent account of the security situation across the country. Government must disclose the number of citizens killed, kidnapped, injured and displaced by terrorists, bandits and other violent criminal groups since the present administration assumed office. Such information is essential for public accountability and informed national discourse.

HURIWA also calls on the National Assembly to intensify its oversight responsibilities over the security sector. The legislature must ensure that funds appropriated for defence, intelligence gathering and internal security are effectively utilized and that security agencies are delivering value for the enormous public resources allocated to them.

Furthermore, the association urges governors, particularly in states affected by insecurity, to stop treating security as the exclusive responsibility of the Federal Government. State authorities must strengthen intelligence gathering, community engagement and collaboration with federal security agencies to prevent further attacks and facilitate the rescue of abducted persons.

HURIWA warns against attempts by government officials to politicize the security crisis or suppress legitimate public concerns. Insecurity is not a partisan issue. The lives of innocent Nigerians should never become subjects of political calculations or propaganda. What citizens demand are concrete actions, transparent leadership and demonstrable results.

The association is particularly worried that the growing frequency of kidnappings is gradually transforming parts of the country into what may be described as a deadly ransom economy, where criminal enterprises thrive on the inability of government to effectively deter, apprehend and prosecute perpetrators. This dangerous trend threatens national stability, undermines public confidence and weakens Nigeria’s international reputation.

HURIWA therefore demands the immediate intensification of efforts to rescue all abducted schoolchildren and other victims currently in captivity. The Federal Government must deploy every available technological, intelligence and operational resource to secure their safe return. Families of the victims deserve regular updates, while Nigerians deserve to know that government is treating the matter with the seriousness it requires.

The association further calls for a comprehensive review of the nation’s security architecture, the establishment of clear performance benchmarks for security chiefs, and the institutionalization of accountability measures for operational failures. The protection of lives and property remains the primary constitutional responsibility of government, and no administration can claim success while citizens live in fear and schoolchildren remain in the hands of terrorists.

Nigeria cannot continue to normalize mass abductions, terrorist attacks and widespread insecurity. The time for excuses has passed. The time for decisive, transparent and accountable leadership is now.

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Appeal Court halts deregistration of ADC, four other parties, faults High Court judgment

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By Our Correspondent

To calm tension and fear among opposition supporters arising from Federal High Court threat to deregister some political parties ahead of 2027 election,the Court of Appeal in Abuja has ordered a stay of execution of a Federal High Court judgment that directed the deregistration of five political parties, including the African Democratic Congress (ADC), describing the lower court’s action as a grave violation of judicial hierarchy.

In a strongly worded ruling, the appellate court suspended the enforcement of the judgment delivered by Justice Peter Lifu, which had ordered the deregistration of the ADC, Action Peoples Party (APP), Action Alliance (AA), Accord Party (AP), and Zenith Labour Party (ZLP).

The appellate panel held that Justice Lifu proceeded to hear and determine the matter despite an existing order of the Court of Appeal and while issues relating to the case were still pending before it.

According to the justices, the trial judge’s conduct amounted to a direct affront to the authority of the appellate court and undermined the constitutional hierarchy of courts.

The court described the development as “the highest form of judicial impertinence,” noting that the Supreme Court had previously condemned similar conduct and characterized it as judicial rascality.

The appellate court further stated that courts must safeguard the integrity of the judicial system and ensure strict adherence to the principle that lower courts are bound by the orders and decisions of superior courts.

It stressed that the Court of Appeal possesses supervisory authority over lower courts and cannot allow its orders to be disregarded.

“The decision of the lower court to proceed with the judgment despite the express order of this court is a brazen violation of the hierarchy of courts and the provisions of the 1999 Constitution,” the appellate court held.

The panel added that it was duty-bound to invoke its powers to protect the authority of the judiciary and ensure compliance with its directives.

Consequently, it granted the application seeking a stay of execution and ordered that the enforcement of Justice Lifu’s judgment be suspended pending the determination of the appeal.

“The application for stay of execution is hereby granted. The enforcement of the judgment is stayed,” the court ruled.

Justice Lifu had earlier directed the Independent National Electoral Commission (INEC) to deregister the five political parties on the grounds that they failed to satisfy constitutional requirements necessary for their continued existence and participation in Nigeria’s electoral process.

The ruling, if implemented, would have removed the ADC, APP, AA, AP and ZLP from the list of recognised political parties eligible to participate in future elections.

However, with the Court of Appeal’s latest intervention, the status of the affected parties remains preserved pending the final resolution of the legal dispute.

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Bayelsa Govt Resolves Twon-Brass Leadership Tussle … Tasks Communities on Functional Constitutions

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Bayelsa State Deputy Governor, Dr. Peter Akpe flanked by leadership of the five communities i

By David Owei,Bayelsa

The Bayelsa State Government has resolved the lingering leadership tussle in Twon-Brass Kingdom, following its intervention and agreement by the feuding parties to immediately withdraw all ongoing court cases concerning the conflict.

It also directed all government-recognized communities to run their affairs based on constitutions that are in line with the provisions of the state Community Administration and Chieftaincy Law to ensure effective leadership at the grassroots level.

The Deputy Governor, Dr. Peter Akpe, who made this known at a meeting with the leadership of the five communities in Twon-Brass Kingdom and other top government officials at Government House ,Yenagoa, on Wednesday, urged the people to complement government’s effort in maintaining the prevailing peace in the state.

Highlighting the key resolutions reached at the meeting, Dr Peter Akpe, noted that although all the five paramount rulers have equal powers, one of them would play the role of a coordinator for a maximum period of one year to avoid leadership vacuum in the Kingdom.

The Deputy Governor, who stressed that the coordinating arrangement will persist pending the enthronement of a new Amanyanabo, announced the appointment of Chief Beinmo Rufus-Spiff as the Coordinating Amadabo for the next one year with effect from Wednesday 17th June, 2026.

He also announced the setting up of a five-man constitution drafting committee, which has one nominee each from the five communities with Chief Claudius Kune-Igoni of Kemmer-Ama as its Chairman.

Members of the Committee which has eight weeks to complete its assignment include Chief Sisei Eke-Spiff Samuel of Ada-Ama, Chief James Sokari (Cameron-Ama), Chief Randy Sobogboma (Shidi-Ama) and Chief Bio Gbeghasa of Sambo-Ama.

Dr Akpe, who appreciated all the parties for their calm and mature disposition throughout the meeting, urged the paramount rulers and other critical stakeholders of Twon-Brass to always see themselves as “brothers from one large family” and for the progress of their kingdom.

His words: “On the issue of leadership, the 5 Amadabos have equal powers but at particular times like the situation the Kingdom is into now, there will be need for a coordinating Amadabo.

“That coordination does not give the coordinator any exclusive powers. You are just a coordinator among equals for a tenure maximum of one year as agreed. But if a King is not enthroned, there will be another coordinator who will be elected a month to the expiration of the one year tenure.

“We also agreed that the Amadabo of Cameron-Ama should start the coordinating process beginning from today (17th June, 2026). He will be in the saddle coordinating the affairs of the kingdom on all the issues including the finances and give report to the Amadabos once a month.

“All court cases should also be withdrawn. And finally, we resolved that Twon-Brass needs a constitution as a matter of urgency. Consequently, a 5-member constitution drafting committee has been set up with nominations from each of the Amadabos.”

The Bayelsa Number Two Man also emphasized the need for communities to have functional constitutions to make for effective administration and minimize conflicts in the various communities in accordance with the peace and security maintenance agenda of the Governor Douye Diri-led prosperity government.

According to him, the absence of written and functional constitutions in the local communities give room for unnecessary bickerings and leadership tussles, which often result in communal crises.

He said, “We have proposed in the Community Administration Bill that is before the House of Assembly now, and one of the clauses is the clause that all communities recognized by the state government should have a constitution.

“We have also created a provision for fourth class stools, as long as you are recognized by government as a community in the state, you must have a constitution. Everything in a community’s constitution must be in tandem with the State Chieftaincy Law and should not go ultra vires. That will also help to administer our communities effectively.”

Those who made presentations at the meeting include the paramount ruler of Sambo-Ama, Chief Ralph Sambo; that of Ada-Ama, Chief Serena Dokubo-Spiff, and their Cameron-Ama counterpart, Chief Beinmo Rufus-Spiff.

Others are Chief Oton Efebo-Shidi and Chief Israel Sunny Goli, the paramount of rulers of Shidi-Ama and Kemmer-Ama, respectively.

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