BUSINESS
Nigeria Leads Africa as Top Upstream Investment Destination: The African Energy Chamber (AEC) Applauds Government’s Policy Reforms

Nigeria Leads Africa as Top Upstream Investment Destination: The African Energy Chamber (AEC) Applauds Government’s Policy Reforms
The African Energy Chamber commends Nigeria for its dedication to simplifying policies and facilitating market growth for global oil and gas investors in the country’s energy sector
Nigeria ranks as Africa’s leading destination for upstream oil and gas investment in 2024, research from market intelligence firm Wood Mackenzie shows. The country accounted for three out of four Final Investment Decisions (FIDs) announced by global oil and gas majors, totaling $13.5 billion.

The African Energy Chamber commends Nigeria for its dedication to simplifying policies and facilitating market growth for global oil and gas investors in the country’s energy sector
The FIDs announced within the Nigerian market included Shell’s $122 million investment in the Iseni Gas Project, TotalEnergies’ $566 million commitment to the Ubeta Gas Project and Shell’s approval of the Bonga North Tranche 1 project. The investments reflect Nigeria’s ongoing efforts to unlock its hydrocarbon potential through investor-friendly policies and strategic global partnerships.
The African Energy Chamber (AEC), as the voice of the African energy sector, congratulates Nigeria for the milestone. The Chamber commends the Nigerian government for its proactive legislations aimed at attracting foreign investments, streamlining project implementation and reducing bottlenecks.
In 2024, Nigeria introduced several initiatives to create a conducive environment for oil and gas investors, including new tax incentives aimed at attracting up to $10 billion in natural gas investments – offering tax relief for gas investors, reducing corporate income tax and extending capital allowance benefits – for deepwater gas projects.
Other policies include the Presidential Directive on Local Content Compliance Requirements, 2024 to address reduction in oil and gas investments caused by high operating costs compared to global markets. The Presidential Directive on Reduction of Petroleum Sector Contracting Costs and Timelines, 2024 reduces time spent to award contracts for oil and gas projects.
In addition to the directives, Nigeria also launched its 2024 oil and gas licensing round, offering 19 blocks for exploration, demonstrating its commitment to continued collaboration with local, regional and international partners. With this momentum, further FIDs are anticipated, including TotalEnergies’ expected $750 million commitment to the Ima Shallow Gas Project in 2025.
With 45% of the Nigerian population lacking access to electricity and affordable and reliable energy, the Chamber believes the FIDs and policies are a right step in driving the country’s universal energy access and socioeconomic development targets.
“Nigeria continues to set a benchmark for investor-friendly policies, leveraging its hydrocarbon potential and government initiatives to drive sustainable development,” states NJ Ayuk, Executive Chairman of the AEC, adding “The Chamber commends President Tinubu, Special Adviser to the President on Energy Olu Arowolo Verheijen and Nigerian energy stakeholders for fostering an environment that attracts global investments, contributing to energy poverty eradication, sustainable development and global energy market stability.”
The upcoming African Energy Week: Invest in African Energy 2025 conference – taking place from 29 September to 03 October – will hosts key Nigerian policymakers and energy stakeholders showcasing investment opportunities within Nigeria’s burgeoning oil and gas industry.
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Why Cozi Furniture Is The Best Place For Furniture Of Every Budget In Maryland

Furniture enhances a home’s beauty, as it tends not just to occupy space but to give it a look that exudes comfort. But there has always been a narrative that high-quality furniture comes with a high cost, as it is mostly for high-end users—this is not entirely true, as you can get furniture pieces within your budget without breaking the bank. One furniture store that is changing this narrative and making affordable, top-quality furniture available to the residents of Maryland, D.C., Virginia, and its environs is Cozi Furniture.
Who Is Cozi Furniture?
Cozi Furniture is the leading furniture store in the DMV area, offering quality home furniture at affordable prices. It has a physical store in New Carrollton, Maryland, and an online store where you can conveniently shop for your furniture products. These are furniture from reputable brands like Ashley Furniture, Crown Mark, and Coaster 22 Premium.

Why Cozi Furniture Is The Best Place For Furniture Of Every Budget In Maryland
Cozi Furniture offers bedroom sets, living room sets, mattresses, home office sets, dining room sets, entertainment sets, outdoor furniture, and accessories in various forms and styles.
What Makes Cozi Furniture The Best Furniture Store For Every Budget?
1. Affordable Prices
Cozi Furniture understands that budget is a top concern for many customers. Hence, it is committed to offering affordable prices on all the furniture pieces at its store. From sofas and loveseats to dining tables and bedroom sets, there is a wide range of furniture for every budget.
Notably, the furniture prices at Cozi Furniture are not what you can describe as “too good to be true” because all the products at the store are of high quality. Its furniture is made with top-quality materials and crafted with attention to detail, ensuring that every piece is stylish and durable. This makes Cozi Furniture the best place to buy furniture in Maryland.
2. Furniture Financing Program
In its bid to make high-quality furniture available to everybody, Cozi Furniture introduced a financing program called “Buy Now Pay Later” that allows you to get your preferred furniture and pay over 48 months with 0% interest. This means that you can purchase any furniture at the store without any down payment, with the opportunity to spread your payment across about four (4) years.
Therefore, you can get the furniture and pay monthly until you complete the payment. This flexible payment plan enables you to afford that comfy Warnerton Living Room Set or the 12-inch Ashley Hybrid King Mattress at the store.
3. Discounted Sales
Cozi Furniture is offering its furniture pieces at discounted prices. So you can save up to 23% on the furniture you buy from the store—both online and offline. For instance, the Mindanao Power Reclining Sofa that used to sell for $1,538 will be available for $1,183. This also applies to the Bolanburg Dining Set and other accessories at the store.
4. Return And Refund Policy
While Cozi Furniture upholds the sale and delivery of top-quality furniture, the company also has a return and refund plan in the event that you’re unsatisfied with the furniture delivered to you. Therefore, you can either request an exchange or ask for a refund. All these are to ensure the optimum satisfaction of its customers.
Cozi Furniture clearly understands the value of spending money on a product, which is why ensuring that the furniture gets a high-quality product in a good state is a greater priority.
Conclusion
Cozi Furniture is undoubtedly the ultimate destination for affordable, high-quality furniture in Maryland. The store is open to customers of every budget, and various features ensure that you create a beautiful and functional home.
Contact Cozi Furniture today to furnish your home with style and class.
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DealMakers AFRICA Recognizes Top Mergers, Acquisitions, and Dealmakers in West Africa

West Africa’s most significant mergers and acquisitions, along with the financial and legal advisers behind them, have been recognised in the recently released 2024 DealMakers AFRICA Annual Awards. The awards highlight transactions that have shaped the region’s corporate landscape, acknowledging the firms and individuals driving complex deals across industries.
The DealMakers AFRICA awards are determined primarily by objective criteria, assessing the value and number of transactions recorded. However, three categories—Deal of the Year, Private Equity Deal of the Year, and Individual DealMaker of the Year—are selected based on nominations from advisory firms. These are evaluated based on factors such as deal complexity, transformational impact, and potential value creation.

DealMakers AFRICA Recognizes Top Mergers, Acquisitions, and Dealmakers in West Africa
In the West Africa Deal of the Year category, four major transactions were shortlisted. These included Olam Agri’s acquisition of Avisen, Chappal Energies’ purchase of Equinor’s Nigerian business, Renaissance Africa Energy’s acquisition of Shell Petroleum Development Company of Nigeria, and the acquisition of Flour Mills by Excelsior Shipping. The winning deal in this category was the acquisition of Shell Petroleum Development Company by Renaissance Africa Energy, a transaction that aligns with Nigeria’s broader objective of increasing local participation in the energy sector. The deal saw ownership of critical onshore assets consolidated under a consortium of Nigerian companies, reinforcing local players’ roles in the industry. PwC Nigeria, Banwo & Ighodalo, Clifford Chance, White & Case, and G. Elias served as advisers on the transaction.
For the Private Equity Deal of the Year, three deals were in contention, including CardinalStone Partners’ exit from i-Fitness to Verod, Verod and its partners’ investment in Moniepoint, and Adenia Partners’ sale of Cresta Paints to Uhuru Investment Partners. The award was given to CardinalStone Partners for its exit from i-Fitness to Verod, a deal expected to drive i-Fitness’ next growth phase through Verod’s operational expertise and financial backing. The transaction was facilitated by Rand Merchant Bank Nigeria, CardinalStone Capital Partners, Udo Udoma & Belo-Osagie, and Olaniwun Ajayi.
The Individual DealMaker of the Year award, sponsored for the second consecutive year by PSG Capital, recognised five shortlisted professionals: Akinola Akinboboye of Deloitte, Ayotunde Owoigbe of Banwo & Ighodalo, Azeezah Muse-Sadiq of Banwo & Ighodalo, Daniel Adeoye of Verod, and Yewande Senbore of Olaniwun Ajayi. The award went to Daniel Adeoye, a partner at Verod, for his role in executing high-value transactions in the region.
Adenia Partners’ acquisition of Air Liquide subsidiaries across Africa was recognised with the DealMakers AFRICA Special Recognition award. The deal spanned 12 countries across three regions, with Adenia committing up to €30 million over the next five years to strengthen and expand the newly formed entity, Erium. The transaction was advised by Decrop Consulting, Asafo & Co, Fidal Avocats, Deloitte, DPGS & Alliance Partners, and ClassM.
The awards also acknowledged the top-performing financial and legal advisory firms in West Africa’s mergers and acquisitions landscape. PwC emerged as the leading financial adviser by deal value, followed by Rand Merchant Bank Nigeria, Citigroup Global Markets, and Treadstone Resource Partners. Rand Merchant Bank Nigeria and Stanbic IBTC Capital shared the top spot for financial advisory by deal activity.
Banwo & Ighodalo was named the top legal adviser by deal value, ahead of Clifford Chance, G. Elias, and White & Case. In terms of deal flow, Banwo & Ighodalo secured the top position, followed by Olaniwun Ajayi and Herbert Smith Freehills.
For equity transactions, Stanbic IBTC Capital was ranked the top financial adviser by transaction value, while Templars led as the top legal adviser in the same category. In debt transactions, Afreximbank ranked highest by value, while Olaniwun Ajayi led in legal advisory.
DealMakers AFRICA, which launched its awards in 2000 in South Africa and expanded to the rest of the continent in 2008, continues to highlight key transactions that shape African economies. The latest rankings reflect the growing sophistication of West Africa’s mergers and acquisitions landscape, as local and international firms navigate complex deals that are reshaping industries across the region.
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African Development Bank signs $45 million grant agreement with Chad for asphalting of the Kyabé-Mayo road section

The African Development Bank (www.AfDB.org) and the government of Chad have signed a grant agreement worth $44.9 million to finance the asphalting of the 49.5-kilometre Kyabé-Mayo section of the Kyabé-Singako road, including the construction of a 55-metre bridge.
The agreement was signed in N’Djamena on 19 February 2025 by Tahir Hamid Nguilin, Minister of State for Finance, Budget, Economy, Planning and International Cooperation, and Claude N’Kodia, the Bank’s Acting Representative in Chad. Several members of the Chadian government were also present, including the Minister for Infrastructure, Access-Improvement and Road Maintenance, Amir Idriss Kourda, and the Secretary of State for Finance and Budget, Ali Djadda Kampard. Also present was a delegation from the International Monetary Fund, led by its head of mission for Chad, Julien Reynaud,

African Development Bank signs $45 million grant agreement with Chad for asphalting of the Kyabé-Mayo road section
The funding will support one of the Chadian government’s key development objectives through strategic infrastructure improvement.
“The [Moyen-Chari] region, including Kyabé, Singako and Am Timan, has strong economic potential. It is Chad’s main agricultural basin and livestock area, rich in fish resources. Fish are supplied from Moyen-Chari to a large part of the country’s south and even to foreign markets,” stated Nguilin, also the Bank’s Governor for Chad.
The road project will open up southern and eastern regions of Chad, reduce vulnerability, and strengthen the resilience of local populations, especially women and young people. It will improve the transportation of goods and people between Kyabé and Singako by providing an all-weather road, facilitating the flow of agricultural and animal products from the rich areas of Moyen-Chari and Salamat to the consumer centers of Sarh, Moundou, N’Djamena and Abéché. It will also enhance accessibility to Moyen-Chari from neighboring Sudan.
The agreement paves the way for support from the Islamic Development Bank to finance the second section of the 205-kilometer Mayo-Singako-Am Timan at an estimated cost of $275.5 million.
“The African Development Bank is a strategic partner of Chad, particularly in the transport sector. The construction of the road section will reduce the overall cost of transport in Moyen-Chari […] and improve the living conditions of local people thanks to easier access to health and education facilities and to the country’s main consumer centers,” said N’Kodia.
The Kyabé-Mayo section of the Kyabé-Singako road is one of the missing links in the N’Djamena-Moundou-Sarh-Kyabé-
The African Development Bank Group remains a strategic financial partner for Chad, with its strategy paper focusing on two priority pillars: developing infrastructure to achieve strong and diversified economic growth and promoting good governance to increase the effectiveness of public action and the attractiveness of the economic environment.
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