Axxela
| Formerly | Oando Gas & Power Limited |
|---|---|
| Industry | Energy & Utilities |
| Founded | 2000 |
| Headquarters | Lagos, Nigeria |
Key people | Bolaji Osunsanya (CEO) |
| Products | Natural Gas, Power, Energy Infrastructure Development |
| Owner | Afrigaz Energie LLP Levene Energy PERSAND Limited Energy & LLP |
| Parent | BlueCore Gas InfraCo Limited |
| Website | www.axxelagroup.com |
Axxela (formerly Oando Gas & Power Limited) is a natural gas value chain company that processes natural gas, transmission and distribution, as well as power generation and distribution in Nigeria and West Africa.[1][2] It reported revenue of ₦188.1 billion (about $240-250 million 2023 USD) for fiscal year 2023.[3]
Based in Lagos, Nigeria,[4] it was acquired by Helios Investment Partners in 2019. When it was sold again seven years later, Helios held a 70% stake in the company, while the remaining 30% was owned by Sojitz Corporation.[5][6]
In January 2026, it was announced that BlueCore Gas InfraCo Limited had completed the acquisition of Axxela. BlueCore is a consortium formed by Afrigaz Energie LLP, Levene Energy Development Limited, and PERSAND Limited and Energy & LLP.[7][8]
Background
It is one of the first indigenous private sector-led developers of natural gas distribution in Nigeria, which serves over 200 industrial and commercial customers via a vast network of natural gas infrastructure.[9]
Axxela is the first privately owned, independent company registered gas shipper on the West African Gas Pipeline (WAGP)[10] and in 2021 received the Energy Leadership Excellence Award of the Decade from the African Institute for Leadership Excellence.[11][12]
References
- ^ Press, N. M. (2021-11-22). "Axxela announces its long-term Issuer and Issue ratings upgrade from BBB+ to A-(NG) with a Stable Outlook from GCR". Nairametrics. Retrieved 2023-06-18.
- ^ "How Axxela is transforming Nigerian industries with natural gas". www.worldfinance.com. Retrieved 2023-06-18.
- ^ AXXELA LIMITED 2024 Corporate Rating Review Report (PDF) (Report). p. 1. Retrieved 14 March 2026.
- ^ Asu, Femi (2019-12-05). "Gas critical to Nigeria, others' industrialisation — Axxela". Punch Newspapers. Retrieved 2023-06-18.
- ^ Releases, APO Press (2022-04-04). "Helios Investment Partners and Sojitz Corporation start collaborations in West African gas downstream businesses". The Guardian Nigeria News - Nigeria and World News. Retrieved 2023-06-18.
- ^ Shosanya, Mohammed (12 April 2022). "Japan Coys Explains Acquisition Of 25% Stake In Nigeria's Axxela". Independent. Lagos, Nigeria. Retrieved 2023-06-18.
- ^ "Helios Investment exits Axxela, sells 75% stake to international consortium". TheCable. Retrieved 2026-01-14.
- ^ "Levene Energy and BlueCore Consortium Complete $285 Million Acquisition of Nigeria's Axxela Gas". African Peace Magazine. Retrieved 2026-01-14.
- ^ Oladipo, Oladehinde (2019-04-05). "Axxela now 100% owned by Helios". Businessday NG. Retrieved 2023-06-18.
- ^ "Axxela Completes Another 18km Natural Gas Pipeline in South West Nigeria; Achieves First Gas to Rite Foods Factory in Ososa". Businessday NG. Retrieved 2023-06-18.
- ^ "Axxela receives Energy Leadership Excellence Prize of the Decade". The Guardian Nigeria News - Nigeria and World News. 2021-06-12. Retrieved 2023-06-18.
- ^ Report, Agency (2021-06-18). "Axxela wins leadership prize, pledges investment in energy". Punch Newspapers. Retrieved 2023-06-18.