Afreximbank provided a landmark $750 million financing partnership to Heirs Energies Limited in December 2025 to boost Nigeria’s domestic energy capacity. Heirs Energies — the upstream oil and gas company controlled by Tony Elumelu — holds operatorship of OML 17 in the Niger Delta (acquired from Shell in 2021 for $533m). The $750m facility supports production growth and infrastructure development across Heirs Energies’ upstream portfolio.
Capital Details
Market Significance
One of the largest single upstream energy financing facilities provided to a Nigerian indigenous oil company. Supports Tony Elumelu's vision of African-owned upstream oil and gas replacing departing IOCs.
Risk / Considerations
OML 17 in the Niger Delta faces community relations, pipeline security and operational risk. Heirs Energies' operational track record on OML 17 since 2021 is still being established.
What Happens Next
Production ramp-up at OML 17 and associated infrastructure development.
Commercial Opportunity
OML 17 production growth creates oilfield services, pipeline, and logistics procurement opportunities in the Niger Delta.