The Director General Energy Commission of Nigeria receives Representatives from Curtis

Representatives from Curtis, a renowned International Law Firm with Headquarters in New York known for their expertise in the sole representation of sovereign States in high stakes investor - State arbitration whose range of Clients, includes governments and state-owned companies, multinational corporations, and financial institutions, money managers, etc and some of their partners led by Mr. Marc Hammerson came to Energy Commission of Nigeria for a collaborative discussion with the Director General Dr Mustapha Abdullahi and his team.

Marc Hammerson in his presentation said the Company has a long history of thirty (30) years of dealings with Nigeria in the Energy sector, he spoke about their interests in Renewable Energy (RE) business and their capacity in law representation, Mr J. A. Waverley in buttressing the above points said that their law firm in the UK connects Nigeria with those who have the interests to work with Nigeria in their RE activities, citing that an investor asked him to identify the actual priorities and how to engage with Nigeria reiterating on the RE specific projects, insisting he can bring his physicist friend from the University of Cambridge to look into the RE activities.

Marc on the other hand mentioned that the Oil Companies want to reinvent themselves to RE Companies, reiterating that the investors in Oil and Gas are very willing to move from energy to RE , pointing out that a one billion dollar investment profile is on the ground.

The Director General in his response, appreciated their efforts and commitment, he gave a brief of the Commission, being the Government organ with the statutory mandate for strategic planning and coordination of National Policies in the field of energy in all its ramifications. He promised them of the Concept notes, informing them that the Commission serves as an advisor to the President on energy matters, having researchers who come up with policies on energy, focusing on clean energy, and that the President shows serious commitment on that.

The DG reiterated that the major challenge is getting serious and committed investors, pointing out that the reserve has changed only twice in ten (10) years. He posited that the Commission has all it takes to guide any investor coming in. He further reiterated that the President who is the Chairman of the Commission promised that the Country will move 50% of its electricity needs to RE, which he said will clean our ecosystem, and the Commission has come up with what it takes to establish that. The DG further reiterated the abundance of lithium, that there is ample market but the development is lacking due to dearth of serious investment even as all the framework, all the documents are in place. He informed them that the Tinubu led Administration is open to every model of investments and that the studies that are required are all done. He further informed them of our pilot scheme, citing the pilot project on hydrogen, the 10,000 metric Methanol Plant in collaboration with the Federal Ministry of Innovation, Science and Technology that will cost about two (2) billion dollars, which he said that any investor coming in will recoup their money back in a space of two (2) years.

Mr Marc Hammerson pointed out the risk factor, insisting that an investor wants to know where other risks can align to the government, investors and other stakeholders. He said, one of the issues with Nigeria is lack of transparency, or understanding of the International Market and risk allocation. Mr Deji one of their local partners pointed out that he would want to leave this conversation with a firm investment commitment.

The DG informed them of government incentives, that the President signed an Executive order with zero duties and there are so many policies in place to promote investments, which Mr Deji affirmed. The DG also informed them of some Agencies under the Federal Ministry of Finance that can come in when the discussion becomes more progressive, and that there are checks and balances involved.

The DG then proposed an extensive MOU to be prepared by the two teams.

The Director General Energy Commission of Nigeria, Dr Mustapha Abdullahi making his remarks.

Marc Hammerson the team lead of Curtis making his presentation.

The Director General Dr Mustapha Abdullahi in a round table discussion with the two teams.

The Director General Dr Mustapha Abdullahi in a group photogragh with the two teams.

The Director General Dr Mustapha Abdullahi (2L), J.A Waverley (L), Marc Hammerson (2R) and Wole Aboderin (R).