By Ediri Ejoh

AXXELA Limited has completed and submitted a feasibility study to the Nigerian Gas Processing and Transportation Company, NGPTC, a subsidiary of the Nigerian National Petroleum Company, NNPC, to build an ELPS-Ibadan-Ilorin-Jebba (EIIJ) pipeline network across the Western and Central states of Nigeria.

The study was compiled by a US-based agency, Worley Parsons, and supported by counterpart funding from the United States Trade and Development Authority, USTDA. This is even as Oando Gas & Power Limited, OGP, the erstwhile midstream business subsidiary of Oando PLC announced the change of its corporate identity to Axxela Limited in a bid to renew its strategic growth plan.

NNPC

Speaking during the handover ceremony, Engr. Saidu Mohammed, NNPC Group Executive Director and Chief Operating Officer Gas & Power said: “This is a project we defined a long time ago and one we wish to implement. Now, it’s key we don’t lose sight of the low-hanging fruits, as we seek to provide gas to the country in keeping with the national plan.”

The proposed pipeline project was conceived as part of the Nigeria Gas Master Plan to improve power generation and distribution to major cities within Nigeria’s South-Western region. The pipeline is expected to commence in Ibadan, Oyo and run through the towns of Osogbo, Ogbomoso, Ilorin, Ado-Ekiti, and terminate in Jebba, Kwara State.

Also commenting during the submission ceremony, Axxela Chief Executive Officer, Bolaji Osunsanya stated: “We appreciate the active participation of all key stakeholders involved in the project, particularly the NNPC. The impetus for power-driven initiatives is underscored by the significance of this project, and its impact and scope are parallel with the Federal Government’s aspirations to improve the power situation. Ultimately, major demand centres will require more electricity to cater to the growing power requirements of industrial and commercial clusters.”

On the change of corporate identity, the company stated that the rebranding effort follows last year’s acquisition of a controlling equity stake in the business by Helios Investment Partners LLP (“Helios”), a premier Africa-focused private investment firm.