Axxela Limited

Formerly Oando Gas & Power Limited, Axxela Limited is the pioneer private sector developer of natural gas distribution in Nigeria. [1]

In 2000, the company commenced its first phase of pipeline construction in Ikeja under its subsidiary, Gaslink Nigeria and has continued to grow its pipeline network coverage across the Greater Lagos area.  [2]

Axxela also developed gas-to-power projects such as the Akute Power Plant in 2015 designed to supply electricity to Lagos Water Corporation, and Alausa Independent Power Plant which supplies electricity to the Lagos State Secretariat and its environs.

Axxela Group currently supplies its natural gas offerings across Nigeria and West Africa through its subsidiaries.[3] Axxela is a designated member and first non-affiliated independent natural gas shipper on the West African Gas Pipeline (WAGP). Also, a member of the West African Power Pool (WAPP) [4].

In December 2016, Helios Investment Partners LLP, an African focused private equity firm acquired a 75% equity stake in the company and eventually took full ownership by 2019 [5] changing its corporate identity and brand name to Axxela.

In 2022, Sojitz Corporation a Japanese investment and trading company acquired a 25% stake in Axxela, their first significant equity investment in Africa [6].

References

1. Helios acquired an interest in Oando Gas and Power, the midstream subsidiary of Oando PLC
2. Nigeria: Gaslink Stakes N3bn for Pipeline Expansion
3. Helios/Vitol consortium to acquire majority stake in Oando’s downstream businesses
4. Helios acquires Oando’s stake to take full ownership of Axxela Limited
5. How Axxela is transforming Nigerian industries with natural gas | World Finance
6. Axxela signs gas transportation agreement with WAGP
7. West Africa’s pipeline connection
8. Japanese firm enters Nigeria's gas business, buys 25% percent stake in Axxela
9. Helios Investment Partners and Sojitz Corporation start collaborations in West African gas downstream businesses

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