By Adedapo Adesanya

The Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Mr Felix Ogbe, has been appointed to the Executive Board of the African Petroleum Producers’ Organization (APPO).

By the appointment, Mr Ogbe becomes Nigeria’s representative on the board of the 18-member continental body, which has its headquarters in Brazzaville, Republic of the Congo.

Mr Ogbe was picked for this role by the Minister of State for Petroleum Resources (Oil), Mr Heineken Lokpobiri, who doubles as the Chairman of the NCDMB Governing Council.

The notice of the Executive Secretary’s appointment was conveyed in a congratulatory letter signed by the Director of Support Services, APPO, Mrs Philomena Ikoko, on behalf of the Secretary General of the organization, Mr Omar Farouk Ibrahim.

She applauded the NCDMB boss on the confidence reposed in him by the Minister, expressing her belief that he would make immense contributions to the development of the African oil and gas industry.

She stated that Mr Ogbe is joining the Executive Board of APPO at a challenging time for the oil and gas industry, especially in Africa.

“Your appointment is a major call to duty for Nigeria and the continent. The secretariat will give you the support you will need to make a success of your assignment,” she noted.

NCDMB played key roles in catalyzing the operations of APPO and the development of local content in the African continent, providing institutional support and mentorship to several oil producing countries in their formulation of local content policies.

NCDMB initiated the African Local Content Roundtable (ALCR) and hosted the inaugural edition at Yenagoa, Bayelsa state, in June 2021, which was attended by key officials of APPO and other oil industry players.

The idea for the Africa Energy Bank was mooted by NCDMB’s officials at the event, as one of the strategies that would accelerate the growth of the African oil and gas industry and deepen local content.

The board also collaborated with APPO to host subsequent editions of the ALCR including the 2023 edition held at Abuja.

The Africa Energy Bank, which APPO is setting up at Abuja is aimed at pooling financial resources needed to fund big-ticket oil and gas projects across the continent, and bridge funding challenges currently impeding the development of the sector.

According to the APPO Secretary General, the Africa Energy Bank seeks to fund oil and gas projects across economies in Africa, helping to plug critical financing gaps that exist through the continent’s overreliance on financiers from the West.

Each APPO member country is expected to raise $83 million with an objective of raising $5 billion capital for the establishment of the bank.

It was revealed recently that Nigeria, Angola and Ghana have contributed their share capital. The trio’s contributions represent 44 per cent of the minimum capital that is required from oil producing countries in the continent.

By Adedapo Adesanya

The board of Dangote Sugar Refinery Plc has appointed its Independent Non-Executive Director, Mr Arnold Ekpe, as the new chairman following the retirement of Mr Aliko Dangote as the head of the company after 20 years.

A statement from the organisation on Thursday disclosed that the retirement of the founder of the company takes effect from Monday, June 16, 2025.

The notice signed by the company’s secretary, Ms Temitope Hassan, revealed that Mr Dangote, who is the richest man in Africa, has been at the helm of his sugar business leadership since 2005.

The businessman is credited with steering Dangote Sugar into a market leader in Nigeria’s sugar industry, overseeing major expansion projects and strengthening corporate governance.

“In line with the principles of good corporate governance and succession planning, Dangote Sugar Refinery Plc hereby announces the retirement of our esteemed Chairman of the Board of Directors of the Company, Alhaji Aliko Dangote (GCON), effective June 16, 2025,” the statement read.

Mr Dangote owns stakes in businesses, including food, cement, energy, and plastics among others.

The statement noted that under his leadership, the firm implemented key Backward Integration Projects in Adamawa, Taraba, and Nasarawa States to improve local sugar production and reduce import dependence.

“Following a rigorous selection and transition process, the Board is pleased to announce the appointment of Mr Arnold Ekpe, Independent Non-Executive Director as the new Chairman of Dangote Sugar Refinery Plc. effective 16th June 2025,” the statement added.

Mr Ekpe is a seasoned banker and former group CEO of Ecobank, with extensive boardroom and leadership experience across sectors.

“We welcome Mr Ekpe to his new role and look forward to the next chapter in our Company’s journey under his leadership. We also express our deep appreciation to Aliko Dangote for his years of exemplary service and unwavering commitment to excellence,” the statement concluded.

By Modupe Gbadeyanka

The Director General of the Nigeria Employers’ Consultative Association (NECA) has been elected into the executive council of Business Africa.

The platform is the leading continental voice of employers and private sector organisations across Africa, with headquarters in Nairobi, Kenya.

It serves as a vital platform for promoting private sector development and regional business integration, while also representing African business interests at regional and international forums, including the African Union (AU) and the International Labour Organization (ILO).

The group is also the umbrella organization representing the interests of the private sector in Africa, serving as a key platform for dialogue between African businesses, governments, and international partners, advocating for policies that promote economic growth, regional integration, and sustainable development.

At the General Assembly of Business Africa on Tuesday, June 10, 2025, at the United Nations Office in Geneva, Switzerland, Mr Oyerinde promised to foster Africa’s economic growth and regional integration.

“I am deeply honoured and humbled to be elected to the Executive Council of Business Africa. This is a critical time for Africa’s economic trajectory, and I am eager to contribute to an organization that is so dedicated to empowering our continent’s businesses and unlocking its immense potential.

“I look forward to collaborating with fellow council members to advance policies that foster innovation, attract investment, and create widespread and inclusive prosperity,” the Nigerian stated.

Mr Oyerinde brings a wealth of experience and a proven track record in private sector advocacy, business linkages, sustainable development, digital transformation, regional economic cooperation, investment/trade promotions and leading initiatives focused on empowering SMEs across the continent.

He joins a distinguished group of business leaders from across the continent, that are providing strategic oversight to Business Africa’s efforts in promoting sustainable enterprise development, decent work, job creation, competitive business landscape and economic integration and renaissance across Africa.