Falcon Corporation Limited, an indigenous player in Nigeria’s energy and gas sector, has announced that Energy& LLP, a subsidiary of EverCorp Industries, has acquired an equity stake in the Corporation. This follows BKM & S Konsult Limited’s divestment of its equity holding, which Energy& LLP has now purchased.
The investment by Energy& LLP reflects the Company’s conviction in the long-term fundamentals of Nigeria’s gas sector and the critical need for resilient indigenous players that can build the infrastructure required to power industrialisation, strengthen energy security and support the nation’s transition to more efficient energy sources.
Speaking on the transaction, Co-Founder and Deputy Managing Director of Falcon Corporation, Mrs. Audrey Joe-Ezigbo, described the partnership as “a timely and strategic step that reinforces Falcon Corporation’s long-term vision to deepen its investments across the gas value chain while maintaining its strong indigenous footprint.”
She added that with this investment, Falcon Corporation is positioned to expand its gas pipeline and distribution networks for industrial customers, accelerate development of its large-scale LPG storage and jetty facility in Rivers State, improve supply reliability, operational efficiency and safety across its gas assets, and accelerate growth across its core business areas.
The Founder and Managing Director of Falcon Corporation, Prof. Joe Ezigbo, expressed his satisfaction with the successful close of the transaction, noting that “this partnership represents more than a financial investment; it is a strategic alignment that supports Nigeria’s goal of increasing domestic gas utilisation and delivering cleaner, more affordable energy to industries and households; and aligns with Falcon Corporation’s broader ambition to build a resilient, future-ready energy enterprise.” He added that the collaboration with Energy& LLP will enable Falcon to leverage new synergies and deliver even greater value to its customers, partners, and the industry at large.
The Chief Financial Officer, Falcon Corporation, Nelson Walter, described the experience as both exciting and rigorous. He noted that “the successful transaction provides Falcon with additional capital to accelerate its growth plans and further strengthen its position within Nigeria’s gas value chain.”
Similarly, Chief Strategy Officer of EverCorp Industries, Tsola Barrow, said: “Energy& LLP’s investment in Falcon Corporation reflects our commitment to building businesses that have real impact on national development. Gas is central to Nigeria’s industrial growth and its transition to cleaner and more efficient energy sources. Falcon Corporation has demonstrated consistent leadership and resilience for more than three decades. Supporting its next phase of expansion is aligned with our philosophy of building and backing companies that strengthen infrastructure, deepen energy access and create long term economic value”.
All contractual obligations and regulatory requirements relating to the transaction have been satisfied, including approvals from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and the Federal Competition and Consumer Protection Commission (FCCPC).
Vetiva Advisory Services acted as Financial Advisers while Detail Solicitors served as Legal Counsel to Falcon Corporation and Templars acted as Solicitors to Energy& LLP for the transaction.
This investment signals the continued attractiveness of Nigeria’s gas sector and reaffirms Falcon Corporation’s position as a trusted and forward-looking indigenous energy company poised for the next phase of growth.
Founded by Professor Joe Ezigbo and Mrs. Audrey Joe-Ezigbo, Falcon Corporation operates in pipeline gas infrastructure, Natural Gas sourcing and supply, and Liquefied Petroleum Gas (LPG) storage, sales and distribution and has consistently demonstrated resilience and leadership within Nigeria’s energy landscape for over 31 years.

• Nigeria conducts grid synchronisation test connecting 15 countries for four hours

The Ministry of Power yesterday said despite the availability of 8,500MW transmission capacity in the Nigerian Electricity Supply Industry (NESI), low demand from the Distribution Companies (DisCos) has limited generation to 5,000MW, stalling 3,500MW.
As of July 17, 2025, the wheeling capacity was 5,500MW.
But the ministry disclosed its recent wheeling capacity in Abuja during a media briefing where it announced that Nigeria successfully conducted a grid synchronization test with 15 West African countries for four hours on November 8, 2025.
“Today, the minimum grid capacity we can even communicate is 8,500MW of capacity. If our generation reaches 8,000 MW today, the grid can comfortably and conveniently transmit it,” Adelabu said.
Besides, the Nigerian Independent System Operator (NISO), Market Operation Executive Director, Dr. Edmund Eje, explained that since electricity cannot be stored, the industry only generates energy based on demand.
His words: “The amount of energy generated is equal to the amount of energy that will be transmitted, and it is also equal to the amount of energy that is demanded by the distribution companies. It is simultaneously consumed.
“You don’t stall energy anywhere. The transmission capacity can carry 8,500MW, but it can only carry what can be consumed. Generators will not generate more than what will be consumed at the same time.”
On synchronization, he said the feat of successful synchronization will not affect the allocation of energy for domestic consumption.
Eje said that although there is a regulation that Nigeria allocates 600MW for bilateral trade, production constraints presently limit it to 360MW.
Adelabu, however, described the synchronization test success as a step towards the elimination of grid collapse from the industry, noting it means that there is confidence that the system is now resilient.
He described it as a landmark development in the evolution of West Africa’s electricity architecture.
He confirmed that on 8th November 2025, Nigeria successfully conducted a grid synchronisation test connecting the national electricity grid with the interconnected West African Power Pool (WAPP) system.
According to him, the exercise represents the first time in history that Nigeria has operated in a unified, stable, and fully harmonised configuration with the rest of the sub-region.
He clarified that while it is not yet a permanent synchronisation, the successful test clearly demonstrates that regional technical alignment is feasible and marks a major step toward eventual full integration.
Adelabu further noted that the synchronisation exercise, conducted between 05:04 a.m. and 09:04 a.m., involved the Nigerian grid which includes Niger Republic and parts of Benin and Togo and the rest of West Africa’s interconnected systems covering Ghana, Côte d’Ivoire, Burkina Faso, Liberia, Sierra Leone, Guinea, Senegal, The Gambia, Guinea Bissau, and Mali.
He said for four uninterrupted hours, power flowed seamlessly across national borders, operating at a single stable frequency and proving that West Africa is now technically capable of functioning as a unified power bloc.
He said the achievement ranks among the most significant milestones in the history of WAPP.
He said the test marks the first successful large-scale synchronisation attempt since 2007, when a short-lived trial lasted only seven minutes before failing.
Adelabu said Nigeria has made history with the successful synchronization of the national grid with the West African Power Pool interconnected system.
For four unbroken hours, according to him, electricity flowed from Nigeria and Niger into the entire West African sub-region covering Benin, Togo, Ghana, Côte d’Ivoire, Liberia, Sierra Leone, Guinea, Senegal, Mali, The Gambia, and Guinea-Bissau operating at a single, stabilized frequency.
Earlier at the NISO Maiden Stakeholders’ Engagement, the Managing Director, Engr. Abdul Mohammed said the milestone recorded with the synchronization milestone is more than a technical success, since it positions Nigeria as a regional power hub; opens new avenues for electricity trading; unlocks foreign exchange potential; and reinforces investor confidence in the emerging Nigerian electricity market.
According to him, a resilient electricity market requires more than engineering; it requires relationships.
He said it requires trust among service providers, trust between the market and regulators, trust between the government and operators, and, above all, trust from the Nigerian people.

By Grace Edet

Crude oil prices edged higher on Tuesday after a Ukrainian drone strike knocked out one of Russia’s largest refineries, disrupting 260,000 barrels per day (bpd) of processing capacity and raising fresh concerns over global supply stability as winter demand builds.
Brent crude was up 1.32 per cent at $65.05 per barrel at 9:00 WAT, with analysts warning that the outage could trigger further price increases in the coming days.
The Ryazan refinery, Russia’s fourth-largest and operated by Rosneft, has now been hit twice in less than a month as Ukraine escalates its long-range strike campaign. The latest attack halted the plant’s main crude distillation unit, which accounts for roughly 5 per y of Russia’s total refining capacity.
Industry sources told reporters that the refinery will remain shut until at least December 1, adding that “no product deliveries are expected before then,” while several secondary units have also been idled.

Prices Mixed Across the Energy Market

While Brent gained, WTI held steady at $60.90 per barrel, showing no change. Murban crude ticked up by 1.06 per cent to $66.46, whereas natural gas slipped 0.16 per cent to $4.368. Analysts say the muted price response masks rising anxiety beneath the surface.
“Market sentiment has turned cautious. If these outages persist or Moscow’s infrastructure comes under renewed fire, the supply picture could tighten very quickly,” an energy expert, Mustapha Shuaid said.

Winter Demand Meets Heightened Geopolitical Risk

The attack comes at a sensitive period, with temperatures dropping across Europe and Asia. Energy markets typically enter a high-demand phase from late November, making geopolitical disruptions more consequential.
Ukraine’s strategy has increasingly shifted toward high-impact targets. According to the Centre for European Policy Analysis, Kyiv is now focusing on “high-value refinery equipment like cracking units — assets that are harder to replace and more disruptive when damaged.”
Recent strikes have also hit terminals and export routes, including the strategic Novorossiysk port on the Black Sea.

Market Braces for Upside Risk

Although front-month prices remain relatively stable, traders say the underlying risk of a significant price upturn is rising. The outage at Ryazan, combined with the threat of additional strikes, could squeeze Russian product exports and rattle global supply chains.
“The next few weeks will be pivotal. Any escalation could be enough to disrupt balances and trigger a price rally, with spillover inflation risks for energy-dependent economies,” another analyst, Akin Owolabi told TheTrustNews.com.
With the Ryazan plant offline and Russia’s refining network increasingly exposed, the oil market enters the winter season on a fragile footing.