Nigerian firm signs major energy deal with Nexarka Group in London
By Patrick Odey
A Nigerian energy company, Sapphire and Carbuncle Energy Limited, has signed a Memorandum of Understanding with Nexarka Group Energy and Infrastructure Holdings in London as part of efforts to strengthen energy development and attract global investment into Nigeria’s energy sector.
The agreement follows the company’s recent incorporation in the United Kingdom, marking a strategic expansion aimed at enhancing its access to international capital and technical expertise.
In a statement issued in Uyo on Friday, the Managing Director/Chief Executive Officer, Mkposong Asuquo, said the dual milestone underscores the firm’s commitment to leveraging global partnerships to address Nigeria’s energy challenges and drive sustainable development.
He explained that the company’s entry into the UK market is designed to unlock new growth opportunities and deepen its capacity to deliver impactful energy solutions in Nigeria.
According to Asuquo, the MoU—signed at Sir Simon Milton Square in London—is expected to facilitate funding for mid-scale infrastructure projects, with potential investments running into several hundred million dollars, subject to project development phases.
“Our incorporation in the United Kingdom represents a defining step in our growth journey. It provides access to global capital, technical expertise, and strategic partnerships critical to transforming Nigeria’s energy landscape,” he said.
Asuquo noted that the company has already established a solid operational presence in Nigeria, gaining experience across the energy value chain, and is now positioning itself as a bridge between local opportunities and international investors.
He added that the partnership would foster collaboration with global stakeholders, focusing on energy infrastructure development, increased production capacity, and the deployment of innovative and sustainable energy solutions.
The CEO also called on UK-based multinationals, investors, and development institutions to explore opportunities in Nigeria’s energy sector.
“Nigeria presents immense opportunities in energy. We invite global partners to collaborate with us to unlock value, drive innovation, and deliver reliable energy solutions that will power economic growth,” he said.
With its expanding footprint in both Nigeria and the United Kingdom, the company aims to play a key role in advancing cross-border energy collaboration and delivering sustainable, scalable solutions for the country’s future.