Financial Energy Review
…..by Ben Ndubuwa…..
Axxela Limited, a leading gas and power portfolio company in sub-Saharan Africa, has announced a major organisational restructuring aimed at accelerating growth, increasing market influence, and advancing its energy transition agenda across the continent. This restructuring, which introduces a group structure with Strategic Business Units (SBUs), marks a pivotal step in the company’s ongoing expansion and commitment to Nigeria’s energy future.
The reorganisation will see Axxela operate under a new structure, with each SBU led by an independently appointed Managing Director. This empowered leadership model is designed to drive each unit towards ambitious growth targets while strengthening Axxela’s overall position in the energy sector.
“We are on the right side of history, a pivotal moment in Africa, where we must elevate the importance of natural gas as a transition fuel and a driver of industrial growth across the continent,” said Ogbemi Ofuya, Axxela’s new Group Chief Executive Officer. “This restructuring positions us to deepen domestic gas utilisation, improve supply reliability, and strengthen our capacity to meet evolving market demands.”
Ofuya, who brings extensive experience from the oil and gas industry and private equity, is leading the transformation of Axxela, which has seen steady growth over the past two decades. He emphasized that the company’s focus is not only on aligning with Nigeria’s energy transition policy but also on fostering innovation and collaboration across the region. “The Federal Government’s energy transition agenda is more than just a policy shift; it is a catalyst for innovation, collaboration, and sustainable growth,” Ofuya added.
Under the new structure, Axxela’s subsidiaries will be aligned into five key business units:
- Gas Distribution will be headed by Kehinde Alabi, previously Chief Operating Officer, now appointed Managing Director of Gas Distribution.
- Gas Midstream Infrastructure will be led by Franklin Umole, who moves from Director of Business Development to Managing Director.
- Integrated Power will be overseen by Olufisayo Duduyemi, who was formerly the Chief Strategy & Services Officer.
- Regional Business will be led by Timothy Ononiwu, who will continue his role as Group CFO while taking on the new responsibility as Managing Director of Regional Business.
- Corporate Operations will be directed by Tuoyo Ejueyitchie, previously General Counsel and Company Secretary, who now assumes the role of Director of Corporate Operations.
According to Ofuya, Axxela’s ambition is clear: “As Nigeria accelerates efforts toward a cleaner and more efficient energy future, our goal is to bridge gas infrastructure gaps, build pipelines that unlock access to untapped industrial clusters, and expand our power development programs. By integrating backward along the value chain, we aim to serve the market better and deliver innovative energy solutions.”
The restructuring highlights Axxela’s commitment to not only advancing its business interests but also contributing to the region’s energy transformation. The company is confident that this strategic realignment will enable it to play a key role in shaping Africa’s sustainable energy future. With a strong leadership team in place, Axxela is poised to continue growing during this transition and beyond.
