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Afreximbank Upsizes Reserve-based Lending Facility for Oando to $375m

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By Tony Obiechina, Abuja

African Export-Import Bank (Afreximbank) has successfully completed upsizing its reserve-based lending facility in favour of Oando Oil Limited to US$375 million.

The company’s pay down of the original US$525-million facility, secured in 2019, to US$100 million in 2024 created significant headroom for refinancing and enhancing Oando’s financial flexibility.

The upsizing, led by Afreximbank, with support from Mercuria Asia Resources PTE Limited (Mercuria), which marks a key milestone in Oando’s strategic capital management, will support Oando’s ambition to achieve production of 100,000 barrels of oil per day and 1.

5 billion cubic feet of gas per day by the end of 2029, effectively boosting Nigeria’s oil output and reinforcing the country’s position in the global energy market.

The upsizing is further expected to drive local economic growth by creating jobs, improving infrastructure, and fostering technological advancements in the oil and gas sector.

Commenting on the development, Group Chief Executive, Oando PLC and Executive Chairman, Oando Energy Resources, Wale Tinubu said: “We are pleased to have completed the upsizing of our RBL facility, a strategic milestone that reinforces our commitment as Operator of the Oando-NEPL JV to maximizing the value of our expanded asset portfolio. Our Joint Venture holds extensive reserves with the potential to generate over $11 billion in net cash flows to Oando over the assets’ life. This working capital facility is a critical enabler towards efficiently extracting and monetizing these resources.

“We appreciate the continued partnership of Afreximbank and Mercuria, whose unwavering support underscores their alignment with our long-term focus on maximizing production, optimizing asset performance, and delivering sustainable value to all stakeholders”.

In his own comments, Haytham Elmaayergi, Executive Vice President, Global Trade Bank, Afreximbank, described the transaction as a critical step in advancing Afreximbank’s strategy for promoting local content in Africa’s oil and gas sector.

“Afreximbank remains a longstanding financial partner to Oando PLC and its affiliates and has consistently supported the company’s growth and expansion initiatives.

“We are delighted that Mercuria, one of the world’s largest independent energy and commodities groups and one of our partners, has brought its global expertise and financial backing to the transaction, further strengthening Oando’s ability to execute its production growth strategy.”

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Ex-Agitators Condemns Sponsored Protest against PAP Administrator

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From Mike Tayese, Yenagoa

The Ex-Agitators comprising Phase 1,2,3 has emphatically condemned the recent protest by a sponsored group called “the Niger Delta Concerned Youths for Change”, which petitioned Dr Dennis Brutu Otuaro, the Administrator of the Presidential Amnesty Programme to the Economic and Financial Crimes Commission (EFCC) for corruption, favouritism and other crimes.

They said no doubt Nigeria operates a generally accepted constitution which stipulates rules and procedures, structure and powers, rights and freedoms and fundamental principles, which are binding on all citizens.
But In as much as it is the constitutional right of every Nigerian citizen to peaceful protest, the Niger Delta Ex-Agitators Forum (PHASE 1, 2, 3) notes that it has become worrisome and a source of concern to them when such privileges become a means to blackmail, spread falsehood or to embark on a campaign of calumny against a law-abiding citizen of the country like Dr Dennis Brutu OtuaroIn a communique issued on Thursday in Yenagoa and signed by General Alhaji Letugbene Vice Chairman (PAP Phase 3), General Emmanuel Satu Secretary-Abuja Chapter (PAP Phase 3) and General Asawana Lucky Leader (PAP Phase 1) said, “we make bold to say that since the Presidential Amnesty Programme was established by the late President Umaru Musa Yar’dua in 2009 till date, no appointee has been more attacked or blackmailed and castigated like the incumbent Administrator, Dr Dennis Brutu Otuaro.
The communique further said, Nigerians should not be deceived by what they hear or see from groups like this because the several protests and media attacks against Dr Dennis Brutu Otuaro, have become the favourite pastime of a few idle and confused individuals.According to them, they want Nigerians to know that Dr Dennis Brutu Otuaro’s only offense is that, upon his appointment into office, he cleared the rot in the system by stopping leakages and unwholesome practices being spearheaded by some former militant leaders whose fraudulent activities could have truncated the Amnesty Programme.

“There is no gainsaying that the only objective of the Niger Delta Concerned Youths for Change”, a sponsored group, is to blackmail and spread lies and evil propaganda against Dr Dennis Brutu Otuaro. This is why we are calling on all Nigerians to disregard the allegations because they are the figment of the imagination of this group being sponsored by a cabal of ex-militant leaders to tarnish and discredit Dr Dennis Brutu Otuaro’s indelible achievements and legacy.”As ex-agitators and beneficiaries of the Amnesty Programme, we will not mince words to say Dr Dennis Brutu Otuaro has exhibited transparency, accountability and prudent management of amnesty funds. It will interest you to know that an audit of the Amnesty Office some time ago showed he has managed funds prudently better than his predecessors. It’s a known fact that before his appointment, the Amnesty Office was characterized by unwholesome practices but since his appointment, the Amnesty Office has been sanitized and repositioned.”There are thirty thousand ex-agitators in the database of the Amnesty Programme and we are all paid our monthly stipend regularly and on time. This has, in no small measure, boosted the attainment of the core objective of the Presidential Amnesty Programme in line with President Bola Ahmed Tinubu’s eight point Renewed Hope Agenda.They said the success of the Amnesty Programme is hinged on Dr Dennis Brutu Otuaro’s commitment towards promoting peace and stability in the Niger Delta region. “He has criss-crossed the length and breadth of the region, speaking with governors, elder statesmen, opinion leaders, women and youth groups including beneficiaries of the Presidential Amnesty Programme. Thus, he has given all stakeholders a sense of belonging as we work together for the peace and stability of our region”.The group therefore call on the National Security Adviser, Mallam Nuhu Ribadu, the Inspector General of Police, Kayode Egbetokun, the Department of State Services and the EFCC to deal decisively with the “the Niger Delta Concerned Youths For Change” for unsubstantiated claims of corruption which amounts to defamation of character and misinformation to cause harm. “To act as a deterrent, the leaders of the group should be invited to provide evidence of their claims and if they fail to do so, convincingly, they should be prosecuted”.They unanimously pass a Vote of Confidence on him and urge him to continue to provide quality, assertive and responsive leadership.

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Tinubu Mourns Renowned Professor of Political Science, Elaigwu

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By James Samuel, Abuja

President Bola Tinubu has extended his heartfelt condolences to the family, friends and associates of the renowned Professor of Political Science and President of the Institute of Governance and Social Research (IGSR), Prof. Jonah Isawa Elaigwu, who passed away at the age of 77 on July 22.

In a statement by the Special Adviser to the President on Information & Strategy, Bayo Onanuga, the President also commiserated with the governments and people of Benue and Plateau states on the loss of the distinguished scholar, whose contributions to constitutional democracy, political economy, and federalism remain indelible.
Tinubu noted Prof. Elaigwu’s patriotism, loyalty, and dedication, which fueled his passion for research, teaching, and training over the course of five decades.
He served with distinction at Ahmadu Bello University, Zaria, and the University of Jos, and was a visiting professor at numerous universities worldwide.During his lifetime, Prof. Elaigwu served on several presidential committees and boards of educational institutions. He also provided consultancy services to federal and state governments, the National Assembly, and various state assemblies.He also provided policy guidance to multilateral institutions, including the World Bank, the United Nations Development Programme (UNDP) the United States Agency for International Development (USAID), the Centre for Development and Population Activities, the United Nations Centre for Human Settlements, the Department for International Development (DFID), and the British Council.Prof. Elaigwu authored numerous seminal papers on peacekeeping, human rights, politics, leadership, security, federalism, democracy, and good governance.Tinubu prays that Almighty God will grant the erudite scholar eternal rest and comfort his family.

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Adeleke Receives Outstanding Award in Environmental Health

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From Ayinde Akintade, Osogbo

Osun State Governor, Ademola Adeleke has been honoured with an award of “Outstanding Governor in the Field of Environmental Health” by the Environmental Health Officers Association of Nigeria (EHOAN), South-West Zone.The award was presented to Governor Adeleke at the 8th South-West Conference/Scientific Workshop, Osogbo 2025, which took place at the Leisure Spring Hotels, Osogbo.

The award recognizes Governor Ademola Adeleke’s exceptional leadership and unwavering commitment to environmental protection and sustainable development in Osun State.
The state Commissioner for Health, Barrister Jola Akintola, who received the award on the Governor’s behalf, said, “I am privileged and delighted to receive this award on behalf of the Osun State Governor, Sen.
Ademola Adeleke”.The Governor in his address said, “This recognition underscores the significant strides Osun State has made in environmental health conservation and sustainable practices as well as healthy living”.The Governor said his administration will continue to prioritize environmental health through strategic policies and innovative programs designed to meet the specific needs of the state.”We have advocated for comprehensive waste management reforms, ensuring that our urban and rural areas are cleaner and healthier while our administration has made substantial progress in enhancing waste management systems, alternative water supply (motorized boreholes). Initiatives such as the implementation of advanced waste collection mechanisms, collaborations with private waste management entities, and community based waste degradation programmes have significantly improved sanitation standards throughout the state”.In his opening address, President of the EHOAN South-West, Sanitarian Dr. Akinwumi Temitope, appealed to Governor Ademola Adeleke of the state in employing more Environmental Health Officers for them to fill up the vacancies in all the local government areas of the state.Sanitarian Akinwumi who described Adeleke as the most popular Governor in the country, commended his 5-integral action plan which has brought development revolution to the entire Osun State and for allowing Environmental Health Officers in Local Government areas of the state to supervised the drilling and installation of 664 motorized boreholes both first and second batches which was provided by the incumbent administration within the short period of Governor Adeleke’s assumption in office.

The South-West President of EHOAN, while enumerating some of his achievements said, they are able to inaugurate South-West EHOAN Council of Elders, purchase of land for building of EHOAN South-West Secretariat at Badeku, Ibadan, Oyo State and foundation laying among others.While delivering royal message, the Arole Oduduwa and Ooni of Ile-Ife, Oba Adeyeye Enitan Ogunwusi, Ojaja II ably represented by Oba Adekunle Adebowale described the environmental health officers as God sent towards protection of the people from untimely death, saying good environment will lead to healthy living.The State Head of Service, Samuel Ayanleye Aina who was represented by the Permanent Secretary, Ministry of Human Resources, charged the environmental health officers to be up and doing to their responsibilities and not relent towards making the entire Osun zero tolerance for dirty environment.The Conference was themed, “Circular Economy and Environmental Health Entrepreneurship: Pathways to innovations, Skills Development and National Growth”.The EHOAN 8th South-West Conference/Scientific Workshop in Osogbo brought together environmental health experts, policy makers and stakeholders to discuss and propose solutions to pressing environmental challenges at the global, national, State and local levels.

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