Julius Rone Hypes Nigeria’s Investment Potential at Africa Energy Week

The Managing Director and Chief Executive Officer of UTM Offshore Limited (UTMOL), Mr Julius Rone, has reaffirmed Nigeria’s position as one of Africa’s most promising destinations for energy investment, citing growing incentives and strong government commitment to sector reforms.

Speaking at the just-concluded Africa Energy Week in Cape Town, South Africa, Rone joined other global executives in a high-level panel session on Liquefied Natural Gas (LNG), where he shared insights on Nigeria’s upcoming Floating Liquefied Natural Gas (FLNG) project and its potential to transform the nation’s gas landscape.

‘Africa is a beautiful bride for investment’

Rone, who has earned the nickname Gas King of Africa in industry circles, described Africa as a “beautiful bride” brimming with untapped natural wealth. He called for strategic partnerships that would allow African nations to harness their God-given resources for sustainable development.

“Africa is a beautiful bride for the world to invest in,” Rone said. “We have the resources, and we must be allowed to develop them. This is why we gather every year for Africa Energy Week — to discuss how to make our continent attractive to investors.”

Rone stressed that Nigeria, in particular, is offering robust incentives and a high return on investment (ROI) for foreign and local investors in the energy sector.

Tinubu’s push for global energy partnerships

The UTMOL boss commended President Bola Ahmed Tinubu for his commitment to repositioning Nigeria as an energy investment hub. He praised the President’s global investment drives and policy incentives that have begun attracting renewed interest in the country’s oil and gas sector.

“The President has been travelling globally to galvanise investors and ensure the oil and gas industry is fully developed,” Rone noted. “We are already seeing results — the Brazilian national oil company is returning to Nigeria to explore deep offshore opportunities.”

He also acknowledged the Nigerian National Petroleum Company Limited (NNPC) for its swift action in implementing the President’s directive to expand the nation’s gas infrastructure.

Rone singled out Mr Bayo Ojulari and his team at NNPC for their “strong leadership and collaboration with the private sector.”

UTMOL’s landmark FLNG project nears key milestone

Rone revealed that UTM Offshore Limited is close to sealing a gas supply agreement with SEPLAT Energy, a move he described as a “game changer” for the Nigerian gas industry.

“SEPLAT has been fully cooperative,” he said. “We’ve advanced negotiations, and within the next two weeks, we expect to sign the gas supply agreement. This will mark a major step toward developing Nigeria’s first floating LNG facility.”

The planned FLNG facility is expected to boost gas exports, create thousands of jobs, and position Nigeria as a key LNG supplier to global markets.

Nigeria opens new pathways for energy collaboration

Beyond the panel sessions, Rone also engaged with international investors and regional energy leaders, emphasising that Nigeria has now opened new pathways for collaboration across the gas value chain.

He reiterated UTMOL’s commitment to driving Nigeria’s energy transition agenda, adding that the private sector has a crucial role to play in unlocking the continent’s vast energy potential.

“This is Nigeria’s moment,” Rone concluded. “With the right policies, partnerships, and projects, Africa can power not just itself, but the world.”

Driving Nigeria's energy future and global innovation

Legit.ng earlier reported that for Julius Rone, the dynamic boss of UTM Offshore Limited (UTMOL), the past 13 years have been a testament to visionary leadership and relentless pursuit of excellence in Nigeria's vibrant oil and gas industry.

Since venturing into this critical sector with a clear and ambitious vision, Rone has achieved remarkable feats, establishing himself as a formidable force and earning the admiration of his peers and competitors alike.

A native of Delta State, Rone solidified his preeminence in the industry by launching the country's first floating liquefied natural gas (FLNG) facility.

Source: Legit.ng