Mohammed Shosanya

The Advisory Board of The Nigeria Prize for Science has named Eni Oko, Olajide Otitoju, and Meihong Wang as the winners of the 2024 edition of the Prize.

They were recognised for their pioneering work on “Process Intensification Technology for Greenhouse Emission Control in Power Generation and Industry for Sustainable Fuel Production (PIC-FUEL)”.

At a press conference on Monday, the Board disclosed the importance of the 2024 competition theme, “Innovations and Technologies for Reducing the Effect of Climate Change,” which underscored the need for urgent solutions to environmental challenges.

According to the Chairman of the Advisory Board, Professor Barth Nnaji, the innovation could significantly reduce harmful emissions from power plants and factories while creating cleaner, greener fuels.

Eni Oko is a Senior Lecturer (Associate Professor) in Chemical Engineering at Newcastle University, U.K., while Olajide Otitoju is a Research Associate at the University of Sheffield, U.K. Meihong Wang, is a Professor of Process and Energy Systems Engineering, specialising in Carbon Capture, Utilization, and Storage (CCUS) at the University of Sheffield, UK.

Professor Wang is winning the Prize for the second time after his 2019 win with Dr. Mathew Aneke with their work on Carbon Capture, Carbon Utilization, Biomass Gasification and Energy Storage for Power Generation.

In his remarks earlier in the press conference, Mr. Andy Odeh, NLNG’s General Manager, External Relations and Sustainable Development, lauded The Nigeria Prize for Science and its sister awards, The Nigeria Prize for Literature and The Nigeria Prize for Literary Criticism, for making a significant impact on the science and literary development in the country in the last 20 years.

He thanked the Advisory Board for their dedication and exceptional contributions to the Prize’s integrity and elevation to international standards. He also paid tribute to former board members and science committees, honouring the late Prof. Umaru Shehu, the first Chairman of the Prize’s committee, who was instrumental in conceptualising the Prize and establishing its foundational values of integrity, transparency, and steadfastness.

Explaining the significance of the groundbreaking work by the three scientists, Prof. Nnaji stated that the PIC-FUEL technology worked by capturing CO2 emissions directly from industrial sources such as power plants, cement factories, and refineries. He said the emissions are passed through a unit called the Rotating Packed Bed (RPB), where CO2 is absorbed using a solvent and the absorbed CO2 is then converted into methanol through a reaction with hydrogen in an electrolyser machine. The methanol can then be directly blended with diesel or sold as a product.

“Imagine if every time a factory or power plant released CO2, instead of harmful gases escaping into the atmosphere, those gases were captured, transformed, and repurposed into cleaner, more sustainable fuels. That is exactly what PIC-FUEL does. This revolutionary approach could cut emissions by 40%, significantly reducing Nigeria’s carbon footprint and helping the country achieve its 2060 net-zero goals without expensive government subsidies. PIC-FUEL implementation will fully decarbonise the power and industrial sectors and deliver up to 20% decarbonisation of diesel-fueled transportation and household/SME electricity generators through the supply of cleaner diesel.

“The technology doesn’t just ensure cleaner air; it also offers significant economic benefits. It could reduce the cost of cutting down emissions by 30-40%, translating to considerable reductions in the national budgetary requirement for implementing the Nigerian Energy Transition Plan, equivalent to $120-140 billion, and achieving the 2060 net zero target. Additionally, by producing cleaner diesel locally, the country could save up to $500 million annually in foreign exchange, strengthening the local economy and stabilising the Naira.

He disclosed that the proof of concept of the winning work has been established in the U.K. and Norway.

A panel of judges reached this year’s decision made up of three distinguished Professors in relevant areas of science: Prof. Francisca Nneka Okeke (Chairman), Prof. Saminu Abdulrahman Ibrahim, and Prof. Grace Oloukoi.

Other members of the Advisory Board are Chief Dr Nike Akande, a two-time minister and former President of Lagos Chamber of Commerce and Industry; and Professor Yusuf Abubakar, a professor of Animal Breeding and Quantitative Genetics and the Coordinator of Agriculture Group, R & D Standing Committee, at the Tertiary Education Trust Fund.

LAPO Founder Bags NSC Award

Mohammed Shosanya

Dr. Godwin Ehigiamusoe, Founder of LAPO Microfinance Bank (LAPO MfB), a premium microfinance institution, has been honoured with the “Distinguished Service Award” by the Nigerian Economic Society.

He bagged the award during the 65th Annual Conference of the Nigerian Economic Society in Abuja,a statement said.

According to the statement,with a legacy spanning over 30 years, Dr. Ehigiamusoe has dedicated his career to building institutions that empower low-income households and support the growth of micro, small, and medium enterprises (MSMEs) across the country.

His visionary leadership has led to the establishment of mutually reinforcing social and economic structures that have transformed the lives of countless Nigerians,the statement quoted.

This prestigious honour underscores Dr. Ehigiamusoe’s significant contributions to Nigeria’s economic development, particularly in the areas of financial inclusion and poverty alleviation.

The “Distinguished Service Award” by the Nigerian Economic Society is a testament to Dr. Ehigiamusoe’s unwavering commitment to social and economic development. His work through LAPO has not only provided financial services to those in need but has also created sustainable opportunities for individuals and businesses to thrive.

Speaking,the President of the Nigerian Economic Society, Professor Adeola Adenikinju, highlighted that Dr. Ehigiamusoe’s leadership in establishing LAPO MfB and his commitment to social justice have set a high standard in the microfinance sector.

Expressing his gratitude for the honour, Dr. Ehigiamusoe reaffirmed his commitment to advancing economic development through innovative financial solutions.

He stated, “This award is a testament to the collective efforts of the LAPO team and our unwavering commitment to making a difference in the lives of Nigerians. I dedicate this recognition to the millions of hardworking individuals who inspire us to continue our mission of poverty alleviation and financial empowerment.”

Under Dr. Ehigiamusoe’s visionary leadership, LAPO MfB has become one of Nigeria’s leading microfinance institutions, empowering millions of Nigerians through access to financial services, capacity-building programs, and community development initiatives.

His work has not only transformed the microfinance sector but has also significantly contributed to national economic growth by fostering entrepreneurship and financial independence among low-income earners.

Transcorp Power Plc Names Christopher Ezeafulukwe As Non-Executive Director

Mohammed Shosanya

Transcorp Power Plc has appointex Mr. Christopher Ezeafulukwe has been appointed as a Non-Executive Director.

The appointment has been approved by the Nigerian Electricity Regulatory Commission, in accordance with the provisions of the Companies and Allied Matters Act 2020 and the Articles of Association of Transcorp Power Plc,a statement said.

According to the statement,Mr. Ezeafulukwe is a highly accomplished professional with over 20 years of executive management experience spanning multiple sectors, including power, oil and gas, financial services, legal services, and corporate governance.

He currently serves as the Managing Director/CEO of Transcorp Energy Limited.

Prior to this, he held the position of Managing Director/CEO of Abuja Electricity Distribution Plc and previously served as the Managing Director/CEO of Transcorp Power Limited (now Transcorp Power Plc). Mr. Ezeafulukwe also held the role of Executive Director, Legal and Business Development, at Transnational Corporation Plc.

His academic credentials are equally impressive, holding an LL.B degree from the University of Lagos, a B.L. from the Nigerian Law School, and an LL.M from the University of Lagos.

He further advanced his education with a second LL.M in Energy, Environmental & Natural Resources Law from the University of Houston, Texas. Mr. Ezeafulukwe is also an alumnus of both the Lagos Business School and IESE Business School in Barcelona, Spain.

Mr. Ezeafulukwe is a respected member of several professional bodies,including the Association of International Petroleum Negotiators, the Nigerian Bar Association (NBA), the Institute of Chartered Secretaries & Administrators of Nigeria (ICSAN), and he is a past member of the Executive Council of the Association of Power Generation Companies.

Shell Nigeria Harvests Awards At SPE Confab

Mohammed Shosanya

Shell Companies in Nigeria (SCiN) won the coveted Best Exhibitor award at the 2024 Nigeria Annual International Conference and Exhibition of the Society of Petroleum Engineers (SPE) held in Lagos recently.

This is in addition to seven trophies won by employees.

The Shell exhibition combined educative posters with learning sessions for engineering students as well as free medical services where hundreds of conference participants received check-up and drugs.

SPE International President Terry Palisch, and Chairman of the Nigeria Council Salahudeen Tahir,who jointly presented the award described Shell as a leading light in the oil and gas industry, providing valuable support particularly to indigenous companies. Asset Development and Subsurface Manager for the Shell Petroleum Development Company, Oladipo Ashafa and the Shell team received the award on behalf of SCiN.

Ashafa said the award was “a reward for professional & technical excellence.” He added: “We recognise that, being an industry leader, puts on us enormous responsibility and we have continued to rethink and reshape our strategies in a manner that brings optimal value to Nigeria, our partners and the local service industry.”

For the individual categories, Ngozi Okonkwo won the Bernard Oboarekpe Drilling & Completions Award and Best New Member Recruiter; Olalekan Balogun won the Prof. Michael Onyekonwu Reservoir Description and Dynamics Award; Femi Obakhena won the ‘Prof. Chi Ikoku Production and Operations Award; Oladipo Ashafa won the 2024 Industry Young Executive Award and Chairman’s Medallion and Magdalene Umoh who was the 2024 Conference Chairman also got the Chairman’s Medallion.

SNEPCo Managing Director, Elohor Aiboni congratulated the Shell team for the successful participation, and thanked SPE for “providing a platform for companies to showcase their contributions to the industry and for professionals to exchange ideas.”

Shell companies in Nigeria,had earlier in the year emerged Best Exhibitor at the 7th edition of the Nigeria International Energy Summit in Abuja.

It also won the International Oil Company of the Year 2024 Award at the 8th Sub-Saharan Africa International Petroleum Exhibition and Conference (SAIPEC) in Lagos organised by the Petroleum Technology Association of Nigeria (PETAN).

New Pencom Boss, Omolola,Assumes Duty

Mohammed Shosanya

The new Director-General of the
National Pension Commission,PENCOM,Omolola Oloworaran,has assumed duties at the Commission,to serve
in acting capacity pending her confirmation by the Senate, in line with the provisions of Section 26 (1) of the Pension Reform Act 2014.

She is poised to explore new frontiers in the implementation of the Contributory Pension Scheme (CPS) by sustaining pension assets on the growth trajectory, ensuring increased CPS membership and
supporting coverage expansion initiatives,a statement said on Wednesday.

The statement quoted that the new boss of the commission,is committed to the expeditious payment of retirement benefits while deepening the pension investment horizon for enhanced returns to contributors and
retirees.

A Fellow of the Association of Chartered Certified Accountants
(ACCA), Omolola brings to PenCom over 20 years of experience in the
financial services industry.

“She is an accounting graduate from the University of Ilorin and holds a Master of Business Administration (MBA) degree from the Manchester Business School. She has worked extensively in renowned investment and commercial banks in Nigeria until her current appointment”,the statement added.

Mahmood Emerges UK Varsity’s Global Student

Mohammed Shosanya

A Nigerian youth, Abdullahi Mahmood has emerged as the Global Student of the Year at the University Academy 92 (UA92) in the United Kingdom after clinching First Class Honours in Computer Science.

Celebrating the graduating Class of 2024, co-founder Gary Neville in an nspirational speech implored them to continue to represent the university with outstanding feats in the global community.

He stated that the impressive wins from the students made it a day to remember.
He also announced Mahmood’s feat at the event.

“Special shout out to our students for their prize wins: Global Student of the Year Abdullahi Mahmood from Nigeria for outstanding academic achievement.

“Joint winner of Student of the Year – Wendy Huyen Do from Vietnam chosen by her UA92 peers for her contribution to student life. We can’t wait to find out what our students do with their Lancaster University degrees,” noted Neville.

In his remarks, Mahmood who could not contain his excitement said, “I’m excited to share that I’ve graduated from University Academy 92 (UA92) with a First Class Honours degree in Computer Science! This journey wouldn’t have been possible without the incredible support system I had around me. A massive thank you goes out to the staff at UA92 who challenged and inspired me every step of the way. A huge shoutout to my classmates who were a source of inspiration and constant encouragement throughout our academic journey.

“To my surprise, I was also awarded the Global Student of the Year award during the ceremony. I’m still incredibly humbled by this recognition,” said Mahmood.

The young Nigerian has gained professional knowledge in machine learning, web development, and data science.

“These are just the tip of the iceberg for me. I’m eager to learn and grow, so if you’re looking for someone passionate about the future of technology, feel free to reach out!”

Shell Nigeria MD,Win NIPR,Heritage Foundation Awards

Mohammed Shosanya

The Managing Director of the Shell Petroleum Development Company of Nigeria Limited, and Country Chair, Shell Companies in Nigeria, Osagie Okunbor,has been recognised for his invaluable contributions to the Nigerian energy sector and his service to humanity.

He received the Award for Exemplary Leadership and Service to Humanity from a Lagos-based NGO, Heritage for Life Foundation, at a ceremony held in Lagos.

A Director of the Foundation, and former Deputy Governor, Central Bank of Nigeria, Tunde Lemo, handed out the award which he said was instituted to promote “moral qualities and attitudes pivotal to the growth of a stable and functional society” by recognising individuals who exbibit the virtues.

Okunbor said: “I’m pleased at this recognition which calls for greater commitment to the highest standards of leadership and service to humanity. With the support of my colleagues and other stakeholders, I hope to continue to contribute to the development of our country.”

The award from the foundation was the second bestowed on the longest serving Country Chair of Shell companies in Nigeria in the past month.

At the 60th anniversary of the Nigerian Institute of Public Relations, Okunbor was conferred with the Diamond Ambassador of Brand Nigeria as part of NIPR’s Diamond Jubilee National Awards.

Presenting the award, the NIPR President and Chairman of Council, Dr. Ike Neliaku, noted that Okunbor earned the award having demonstrated exceptional leadership as Chairman of the largest energy company in Nigeria that had made significant contributions to the socio-economic development of Nigeria in more than seven decades.

Okunbor’s contributions to the energy sector are the highlights of a career in Shell which has seen him serve in Nigeria, the UK, Brunei and the Netherlands before his appointment as Managing Director, SPDC and Country Chair in 2015.

In May, the executive council of the Nigerian Gas Association recognised Okunbor for outstanding contributions towards the advancement of Nigeria’s gas sector.

BCG Names Aly-Khan Jamal MD,Partner In Nigeria’s Office

 Mohammed Shosanya
 Boston Consulting Group (BCG), a global leader in management consulting has announced the appointment of Aly-Khan Jamal as a Managing Director and Partner in its Nigeria office.
Jamal focuses on principle investors and private equity (PIPE), social impact, and climate and sustainability work,a statement said on Tuesday.
The statement quoted that Aly-Khan Jamal,has experience with clients across the development finance space, commercial banks, institutional investors, private equity, and catalytic impact investors.
According to the statement,in his new role Jamal will focus on supporting financial institutions and investors to attain sustainable success, long-term returns, and measurable impact.
 His focus will be on addressing financing gaps across Africa while meeting the continent’s climate, sustainability, and social impact goals.
Before BCG, Jamal worked for Dalberg Global Development Advisors, a strategy and policy advisory firm dedicated to global development and innovation. Jamal holds a master’s degree in economics from McGill University and a bachelor’s degree in politics, philosophy, and economics from the University of Oxford.
“Africa faces substantial financing gaps in commercial and socio-economic needs,” said Jamal. “We need public and private capital to come together to address this. BCG offers unique expertise across development and commercial finance to help meet these challenges, and I am excited to join and build on this work.”
Tolu Oyekan, Managing Director and Partner and Office Leader at BCG Nigeria said about the appointment: “Adding Aly-Khan to our leadership team bolsters our local expertise and aligns with the potential we see within Nigeria and in Africa. At BCG, our vision is to work with our clients to contribute meaningfully and unlock the potential of Africa.”
BCG also announced additional appointments in the region: Jacqueline Foster-Mutungu as Managing Director and Partner in Johannesburg, South Africa; and Nabil Mikou and Badr Choufari as Managing Directors and Partners in Casablanca, Morocco.
Founded in 1963, and with offices in over 50 countries, BCG’s diverse, global team comprising of 30 000 plus people bring deep industry and functional expertise and a range of perspectives that provide clients with management consulting solutions.
 Through its transformational approach aimed at helping all stakeholders, BCG empowers organisations to grow, build sustainable competitive advantage and drive positive societal impact.
Access Bank Emerges IFC‘s Best Trade Partner Bank West Africa

Mohammed Shosanya

Access Bank has been recognised as the ‘Best Trade Partner Bank West Africa 2024’ by the International Finance Corporation (IFC).

The award was presented at the Global Trade Partners Meeting (GTPM), held recently, in Barcelona, Spain,a statement said on Monday,adding that the development highlights Access Bank’s outstanding performance and commitment to fostering trade finance across the continent.

The GTPM, organised by the IFC, is one of the most significant events in the global trade finance industry, and is known for its unique footprint due to IFC’s extensive reach and client base in emerging markets.

The 2024 event marked the 20th anniversary of IFC’s Global Trade Finance Program and attracted a record number of delegates, featuring prominent speakers and panellists, who provided valuable insights into the global trade landscape.

 

Seyi Kumapayi,Executive Director, African Subsidiaries at Access Bank, said, “We are honoured to receive this award from IFC, which is a testament to our relentless efforts in leveraging our extensive network across Africa to scale trade opportunities between the continent and the rest of the world. Access Bank remains committed to facilitating trade that drives economic growth and prosperity for our stakeholders and the regions we serve.”

 

According to the statement,representing Access Bank at the GTPM were Sunmbo Olatunji, Group Head, Treasury; Tosin Olatunji, Group Head, Corporate Operations; Seun Olufeko, Group Head Project and Structured Finance, Corporate and Investment Banking Division (CIBD); Oluchukwu Kalu, Team Member PSF, CIBD; and Rowly Isioro, Head, Trade and Global Transaction Banking (Africa). Isioro also participated in a panel discussion titled ‘IFC: 20 Years in Trade, Partnerships and Perspectives.’

 

Speaking on the panel, he addressed the importance of building resilient trade finance systems in emerging markets and how the IFC Global Trade Finance Programme has evolved over the years, from IFC providing guarantees for letters of credit to accommodate other trade instruments like promissory notes and green trade or climate-friendly transactions.

“Africa is ripe for partnerships that can drive substantial economic growth,” Isioro said.

 

“At Access Bank, we are dedicated to developing innovative solutions that tackle the unique challenges faced by African businesses, such as currency volatility and regulatory complexities. y

“By strengthening our trade finance infrastructure, and by leaning on the interconnectivity of our subsidiaries – strategically spread across Africa’s key trade blocs – we aim to facilitate smoother trade flows and empower our clients to seize global opportunities effectively,” he added.

 

The GTPM Barcelona 2024 featured a three-day programme that saw contributions from internationally renowned speakers such as Marc Auboin, Counsellor at the World Trade Organisation; Alexia Boutin-Somnolet, Lenders’ Solution Leader at Marsh; Gonzalo Gortázar, Chief Executive Officer of CaixaBank, Spain; Nathalie Louat, Global Director, Trade and Supply Chain Finance at IFC; and Paolo Mauro, Director of the Economic and Market Research Department at IFC, amongst others.

The event,which was sponsored by Access Bank, CaixaBank, amongst other, concluded with a Gala Awards Dinner celebrating the 20th anniversary of IFC’s Global Trade Finance Programme and honouring its high-performing trade finance partners.

Komolafe,NUPRC Boss Emerges Champion Newspapers’ Most Outstanding Regulator

Mohammed Shosanya

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Chief Executive, Engr. Gbenga Komolafe has won the Champion Newspapers’ Most Outstanding Regulator of the Year Award.

He was conferred with the honour during the newspaper’s annual awards ceremony held at the Eko Hotels & Suites in Victoria Island, Lagos.

Conferring the award on Komolafe,the Chairman, Manufacturers Association of Nigeria (MAN), South East Zone ,Lady Ada Chukwudozie said the awardee has distinguished himself as an exceptional Nigerian for his invaluable contribution to Nigeria’s economic development, especially in the nation’s oil and gas sector.

She noted that Komolafe is driving sustainable economic growth and development of the country and has consistently demonstrated his dedication to fostering a conducive environment for responsible exploration and production activities.

She described NUPRC as a model to other regulatory bodies in Nigeria and Africa, for its outstanding service delivery and economic growth enhancement.

Responding, Komolafe who was represented at the ceremony by NUPRC, Regional Director Lagos, Dr Paul Osu said the award will spur him to do more for the nation’s oil and gas industry.

In her remarks ,the Group Managing Director/Editor-in-Chief of Champion Newspapers Limited, Dr. Mrs Nwadiuto Iheakanwa, lauded the commission for its promotion of sustainable value creation from Nigeria’s Petroleum Resources for shared prosperity.

Dr Iheakanwa stated that NUPRC has become an embodiment of care, providing solutions channeled toward increasing and sustaining wealth.

“Particularly outstanding is the energy and vibrancy exuded by the brand through your firm’s commitment to creating an enabling environment for healthy competition among operators in the industry as well as ensuring the promotion of a sustainable value creation from Nigeria’s Petroleum Resources for shared wealth”,Iheakanwa added.