Axxela Limited, a prominent player in the sub-Saharan African gas and power sector, has embarked on a significant restructuring initiative designed to propel its growth trajectory and amplify its market influence. This strategic shift to a group structure underscores Axxela’s dedication to bolstering Nigeria’s energy transition agenda, enhancing customer value, and realizing its pan-African expansion ambitions. Over the past two decades, Axxela has meticulously nurtured its subsidiary businesses, fostering their development into robust and independent entities. This restructuring marks a pivotal next step in leveraging this established foundation to achieve even greater heights.
The newly implemented group structure comprises distinct strategic business units (SBUs) and a central group directorate. Empowering each SBU with independent leadership under a managing director is a key element of this transformation. This decentralized model aims to empower each business unit to pursue ambitious growth objectives, while simultaneously solidifying Axxela’s overall leadership position within the industry. The structure fosters agility, allowing each unit to respond effectively to specific market dynamics and opportunities. This streamlined approach ultimately strengthens Axxela’s collective market presence and impact.
The restructuring has also resulted in key leadership appointments within the newly established SBUs. Gas Distribution, a critical component of Axxela’s operations, is now helmed by Kehinde Alabi, the former Chief Operating Officer. Franklin Umole, previously Director of Business Development, takes the reins of Gas Midstream Infrastructure, focusing on the vital midstream segment of the gas value chain. Olufisayo Duduyemi, formerly Chief Strategy & Services Officer, will lead the Integrated Power business unit, highlighting Axxela’s commitment to power generation and distribution. Timothy Ononiwu assumes leadership of the Regional Business unit while concurrently serving as Group Chief Financial Officer, ensuring financial oversight across the expanded operations. Tuoyo Ejueyitchie, the former General Counsel and Company Secretary, will spearhead the Group’s Corporate Operations, providing legal and operational expertise to the newly formed group structure.
Leading this comprehensive reorganization is the new Group Chief Executive Officer, Ogbemi Ofuya. Ofuya brings a wealth of experience from the oil and gas industry, coupled with a strong private equity background gained at Helios Investment Partners. This combination positions him uniquely to navigate Axxela through this transformative phase, leveraging his industry insights and financial acumen to capitalize on emerging opportunities. Ofuya’s appointment underscores Axxela’s commitment to strategic leadership and its vision for future growth. His expertise is crucial in guiding the company’s strategic direction and ensuring the successful implementation of the new organizational structure.
Ofuya’s vision for Axxela emphasizes the strategic importance of natural gas as a transitional fuel in Africa’s evolving energy landscape. He sees the company playing a vital role in driving industrial growth across the continent by leveraging the abundant natural gas resources. This restructuring, according to Ofuya, strengthens Axxela’s ability to deepen domestic gas utilization, enhance supply reliability, and adapt to the ever-changing market demands. He sees Nigeria’s energy transition agenda not merely as a policy shift, but as a catalyst for innovation, collaboration, and sustainable economic growth. Under Ofuya’s leadership, Axxela aims to be at the forefront of this transition, providing innovative energy solutions and contributing to a cleaner and more efficient energy future for Nigeria.
Axxela’s strategic priorities under the new structure are clear: bridging gas infrastructure gaps, developing pipelines to access untapped industrial clusters, and expanding power development programs. By integrating backwards along the value chain, Axxela aims to enhance its market responsiveness and deliver innovative energy solutions customized to meet specific customer needs. This reorganization marks a bold step forward, reaffirming Axxela’s unwavering commitment to shaping Africa’s energy future. The company is confident that this strategic restructuring will not only sustain its current growth momentum but also position it for continued success in the evolving energy landscape. Axxela’s focus remains on driving transformative change within the African energy sector, building a sustainable energy future for the continent.
