KEY POINTS
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NIPCO’s 19 percent stake in Savannah Energy deepens Kansagra’s energy footprint.
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Savannah Energy supplies gas to major Nigerian power plants.
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The Kansagra family continues expanding across energy and hospitality.
NIPCO Plc, the Nigerian downstream energy group controlled by Indian billionaire Ramesh Kansagra, is acquiring about 19 percent of London-listed Savannah Energy Plc. The purchase marks a significant expansion of the Kansagra family’s energy interests across West Africa and strengthens its presence in Nigeria’s growing gas sector.
Savannah Energy confirmed that the investment includes a combination of primary subscription and secondary market share purchases worth around £28.7 million. Upon completion, NIPCO will hold about 19.4 percent of Savannah’s enlarged share capital. The transaction follows Savannah’s recent fundraising and operational updates, as it prioritises domestic gas supply through its Accugas midstream business.
NIPCO deepens foothold in Savannah Energy
Savannah’s Accugas network delivers gas to a large portion of Nigeria’s thermal power generation, supplying around 200 million standard cubic feet per day through a 260-kilometre pipeline system. By taking a strategic stake in the company, NIPCO and the Kansagra family gain exposure to cash flows spanning upstream and midstream gas operations at a time when Nigeria is accelerating domestic gas utilisation.
NIPCO is owned by Purebond Ltd, an investment firm led by Ramesh Shantilal Kansagra and family members. The Kansagras sit on the boards of both NIPCO and its affiliate, 11 Plc, formerly known as Mobil Oil Nigeria. Corporate filings in the UK show that Purebond is wholly owned by Solai Holdings, another vehicle controlled by the family.
Savannah Energy stake expands Kansagra portfolio
The family’s business interests stretch beyond the energy sector. In 2022, a Kansagra-controlled entity, 22 Hospitality Ltd, acquired a 66.13 percent controlling interest in Capital Hotels Plc, the parent company of the former Sheraton Abuja, now rebranded as Abuja Continental Hotel. According to Billionaire Africa, following the acquisition, Ramesh Kansagra assumed the chairmanship of Capital Hotels and appointed a new board, which includes family representatives.
Beyond energy and hospitality, the Kansagra family also owns Kavango Resources Plc, a Southern Africa-based mining company focused on gold production and metals exploration. The latest NIPCO-Savannah Energy deal reinforces their strategy of diversifying holdings across sectors with long-term growth potential.
The acquisition highlights the family’s confidence in Nigeria’s gas industry as demand for cleaner energy continues to climb, supported by policy reforms and government-backed infrastructure projects.
