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Nigeria/France: Tony Elumelu – “The Central Bank has a mandate”

In depth
This article is part of the dossier: Nigeria/France: Le Nouveau Chapitre

By Nicholas Norbrook
Posted on Monday, 28 June 2021 14:30, updated on Wednesday, 8 September 2021 12:48

Nigerian entrepreneur Tony Elumelu
Nigerian entrepreneur Tony Elumelu photo: Bruno Levy)

Tony Elumelu is slowly linking up the composite parts of his business empire. The latest example: his recent oil field purchase, set to supply gas to a power plant in the Niger Delta.

Elumelu’s integrated energy play is taking shape: his January 2021 acquisition of OML 17 has been hooked up to his 966MW Afam power plant in Rivers State, acquired in November 2020.

“The next thing is for my gas cooker at home to be connected to OML 17,” Elumelu says. The addition of Afam brings generation capacity for Heirs Holdings up to 1,936MW, including the Ughelli power plant in Delta State.

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