Ogbemi Ofuya to Take Over as New Group CEO of Axella Group

Ogbemi Ofuya is set to take over as the new Group Chief Executive Officer of Axxella Group, a leading energy infrastructure company in the natural gas sector across sub-Saharan Africa

Ofuya succeeds Bolaji Osunsanya, the company’s pioneer CEO, who is retiring after more than 20 years of exemplary service.

The Company statement announcing the new appointment reads in part “We are pleased to announce a significant leadership transition.

“After more than two decades of exceptional leadership, Bolaji Osunsanya, our pioneering CEO, is retiring, and we are thrilled to welcome Ogbemi Ofuya as our new Group Chief Executive Officer.”

Axxela Group

Founded in 2000 as Gaslink Nigeria Limited,  following a rebranding, Axxela Group emerged as one of Nigeria’s first private-sector developers of natural gas distribution.

The company was established by Helios Investment Partners LLP and Sojitz Corporation to address the growing demand for cleaner energy solutions in Nigeria.

The company began operations in 2001 with the construction of a gas pipeline spanning Agidingbi, ACME road, Oba Akran, and its environs with the first gas delivered to Cadbury Nigeria.

Africa’s Gas Distribution Market

The gas supply market in Africa has grown over the years due to the growing demand for widespread renewable and cleaner energy across Africa and the continent’s rich gas reserves.

There has however been inadequate pipelines to transport gas across the African continent which has created a gap in the gas supply market that numerous companies have taken advantage of.

Companies like the Nigeria LNG Limited (NLNG), Kosmos Energy are major players in the gas supply market across West Africa while the West African Gas Pipeline (WAGP) stands in the gap to regulate gas suppliers across West Africa by connecting countries with gas supply like Nigeria to those in need of it.

This initiative of the WAGP is what Axxela has tapped into to become the first private company engaged in gas distribution across West Africa.

Ogbemi Ofuya as Axxela CEO

Ogbemi Ofuya is expected to fully step into the role of Group Chief Executive Officer (GCEO) at the end of the year having been a Partner at Helios Investment Partners and a non-executive director at Axxela for many years.

Ogbemi has two decades of experience in the oil and gas, energy infrastructure, and power sectors. With a proven track record in driving growth through strategic investments and M&A across African markets. He led Helios’ acquisition of Oando’s interest in Axxela. Osuya also has a strong background in the execution of M&A, debt, and equity transactions at Goldman Sachs International.

He holds an MBA from London Business School as a Mo Ibrahim Scholar and a BEng in Civil Engineering from the University of Benin, Nigeria, and has worked for prominent global organizations such as ExxonMobil and Standard Chartered, where he held senior project management and strategy roles.

Speaking on his appointment Ogbemi said “I am honored to have been appointed by the board to lead this great organization at such a pivotal time.

“Axxela has evolved into an integrated energy solutions company over the years, and it is a privilege to build on the exceptional foundation established by Bolaji and his team.

“I am committed to driving the company forward and further strengthening our position as a leader in the energy sector as we navigate the opportunities ahead.”

What Next?

Ogbemi Ofuya will officially assume his role as Group CEO at the end of December 2024. Under his leadership, Axxela aims to build on its legacy of innovation and growth while continuing its mission to deliver sustainable energy solutions across sub-Saharan Africa.

Moving forward, Osunsanya would transition into a Non-Executive Director role while Ofuya would be at the helm as the Group’s CEO.

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