A Review of the Nigerian Energy Industry

Nigeria: Ecobank Capital executes $1.5bn deal for SNPC


16 February 2015, Lagos – ECOBANK Capital- the investment banking subsidiary of Ecobank Transnational Incorporated said it closed a $1.5 billion landmark deal for Societe Nationale Des Petroles Du Congo (SNPC).

The Managing Director of Ecobank Capital, Moyo Kamgaing, who made the disclosure when the company hosted the maiden edition of the investment banking conference in Nigeria, said the deal was SNPC’s five-year capital expenditure programme.

He pointed out that Ecobank Capital is committed to providing innovative solutions for its clients and capable brokering deals of higher worth.

The conference, held at Eko Hotel in Lagos, which the theme: “Nigerian Economy- Navigating the Headwinds of Oil prices”, also brought together business and industry thought leaders to discuss the Nigerian economy and how to navigate through the current headwinds.

The event was attended by domestic and international investors, with the panel speakers including representatives from Helios Capital, Dangote Cement, Nedbank, Qatar National Bank and First-EPDC.

Experts from Ecobank Research reinforced the need for the Nigerian economy to diversify.

The bank’s team commended the current Agriculture Transformation Agenda and emphasised the need for Nigeria to continue in its value capture in key soft commodities’ value chain.

On the energy outlook, they harped on the need to recalibrate local crude oil funding dynamics.

The Group Executive, Corporate and Investment Bank, Charles Kie, also highlighted the strength of the economy despite the headwinds.

He stated that Ecobank is strategically positioned to provide the required support for industry players given the bank’s scale and industry experience.
*Chijioke Nelson – The Guardian

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