A Nigerian energy company, Sapphire and Carbuncle Energy Limited, has signed a Memorandum of Understanding (MoU) 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.
The dual milestone reflects the company’s commitment to leveraging global partnerships to address Nigeria’s energy challenges and accelerate sustainable development across the sector.
According to the company’s Managing Director/Chief Executive Officer, Mr. Mkposong Asuquo, the company’s expansion into the UK is a strategic move designed to unlock new growth opportunities and deepen its capacity to deliver impactful energy solutions in Nigeria.’
”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 gives us access to global capital, technical expertise, and strategic partnerships that are critical to transforming Nigeria’s energy landscape,” he stated.
He emphasized that Sapphire and Carbuncle Energy Limited has already established a solid operational footprint in Nigeria over the past few years, gaining valuable experience across the energy value chain.
“We have built a strong foundation within Nigeria, and now we are extending our reach to position the company as a bridge between local opportunities and international investment,” Asuquo added.
The newly signed MoU is expected to catalyze collaboration with international stakeholders, focusing on energy infrastructure development, improved production capacity, and the deployment of innovative and sustainable energy solutions.
Asuquo, therefore, called on investors and partners and UK-based multinationals and global institutions to take advantage of emerging opportunities within Nigeria’s energy sector.
“Nigeria presents immense opportunities in energy, and we are inviting UK multinationals, investors, and development partners to collaborate with us. Together, we can unlock value, drive innovation, and deliver reliable energy solutions that will power economic growth,” he said.
Industry observers led by Dr. Roland Nalinesh noted that the company’s UK incorporation would significantly enhance investor confidence, providing a credible platform for international financing and partnerships.
With a growing footprint in both Nigeria and the United Kingdom, Sapphire and Carbuncle Energy Limited is positioning itself as a key driver of cross-border energy collaboration—committed to delivering sustainable, scalable, and impactful energy solutions for Nigeria’s future.
Reported by Mkposong Asuquo
