LFTZ 150MW IPP PROJECT

Project Summary
⚫ Establishment of a 150MW Gas-Fired Independent Power Producer (“LFTZ
IPP”), which will be scalable to 450MW, along the Lekki axis and Lekki Free
Trade Zone where there will be tremendous growth over the next decade
⚫ Scanpower have signed a Memorandum of Agreement (“MoA”) with NNPC
Gas & Power Investment Company (“NGPIC”), a wholly owned subsidiary of
the Nigerian National Petroleum Corporation (“NNPC”) for the joint
PROJECT development of the LFTZ IPP project
DESCRIPTION ⚫ The joint development partnership with NGPIC will allow LFTZ IPP to benefit
from guaranteed gas feedstock and accessibility to the Federal Government
Gas Fund at the Central Bank of Nigeria
⚫ Siemens and Samsung Heavy Industries will act as OEM / technical partners
for the project
⚫ The total project cost is estimated to be about US$110MM

KEY
PARTNERSHIPS
 Board Members

⚫ Ernest Ndukwe OFR: He is the Chairman of Scanpower. Dr. Ernest Ndukwe is the Chairman of MTN
Nigeria Plc and former Executive Vice Chairman of the Nigerian Communication Commission (NCC). He
is credited with the success of the GSM Revolution in Nigeria. An astute administrator, highly respected in
business circles. He is now a frontline Consultant in the Power and Telecoms sectors

⚫ Mr. Olumide Oladapo: He is the Vice Chairman of Scanpower. He has varied interests in Oil Services,
Property Management and International trading. He has vast contacts and experience within the Nigerian
business circles. He is the Chairman & Managing Director of one of the major Import Finance and logistics
companies in Nigeria, with major and strategic international companies as clients. He serves on the board
of other notable companies

⚫ Mr. Laolu Akinkugbe: A former Director of Nigerian Bottling Company and former Executive Director of
Coca Cola International. He is a Past President of Nigerian American Chamber of Commerce. He is also a
former Board member of the American Business Council, Nigeria. He is a seasoned commercial diplomat
with vast contacts and knowledge of the Nigerian and International Business environment

⚫ Mr. Babatunde Savage: He is the former Chairman Diageo and Guinness PLC in Nigeria. A highly
successful and respected professional and manager of financial and human resources. He is a seasoned
chartered accountant by profession. He was recently appointed to the Board of Rand Merchant Bank of
Nigeria

⚫ Mr. Pekun Tomori: A consummate professional and expert in the Oil and Gas industry. An ex senior
official of Shell Nigeria with huge experience in the areas of Gas infrastructure, marine transportation,
supply chain logistics and petroleum products trading