Phone +234 1 2774920, 2774921, 2774922, 2719811, 2719812, 2719813
AddressSt Nicholas House, (10th, 12th & 13th Floors), Catholic Mission Street, Lagos, Nigeria.
Victor Samuel is a Senior Associate and a member of the firm’s banking and finance, energy, projects and infrastructure teams. He advises international and local clients on structuring and financing diverse infrastructure projects; syndicated lending transactions; and debt restructuring.
He is instrumental in advising the sponsors of an independent power project in a ring-fenced area of Aba, Abia State, in connection with the debt restructuring of a facility provided by a syndicate of Nigerian lenders and various investors.
Victor was a crucial part of the team that advised Daystar Power Group in connection with a multimillion-dollar debt financing from Sunfunder Inc. for the expansion of its solar power projects for commercial and industrial energy users. He also recently advised the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH on its Nigerian Energy Support Programme, which involves providing legal advisory services regarding the Nigerian electricity supply industry, as well as fostering investments in the renewable energy, energy-efficiency and rural electrification sectors in Nigeria.
UUBO is proud to announce that our senior associate, Victor Samuel, has been ranked as “Rising Star” in the 31st edition of the IFLR1000 ’s jurisdiction rankings for Nigeria.
Victor has been recognised for his work in Banking.
To learn more about Victor’s work at UUBO, please visit uubo.org
Advising Sahara Energy Group on the phased project construction, financing and development of a 530MW power infrastructure in an East African country;
Advised LADOL Integrated Logistics on the installation of a medium voltage and high voltage underground electricity distribution network on the company’s Free Trade Zone base;
Advised Daystar Power Group in connection with the USD 4 million debt financing from Sunfunder Inc. for the expansion of its solar power projects in Nigeria;
Advised Waltersmith Petroman Oil Limited on the development of its proposed 300 MW power project at Obigwe, Imo State;
Advising Sahara Energy Group, a leading energy company in connection with the restructuring of loan facilities worth an aggregated US$723,000,000.00, aimed at mitigating the impact of the devaluation of the Naira on its business;
Advising IFC on its proposed loan of the Naira equivalent of USD 50 million to the Lagos State Government (Borrower) for financing the development, construction, and rehabilitation of two Quality Bus Corridors to be implemented by Lagos Metropolitan Area Transport Authority;
Advised Geometric Power on the restructuring of the construction finance facility provided for the development of the Geometric IPP project in Aba, Abia State. His role involved negotiating the completion EPC contract in respect of the power plant being constructed by the project developer;
Advised CrossBoundary Energy on its entry into the Nigerian energy market to finance, install, own and operate solar power projects across Nigeria;
Advised the International Finance Corporation in connection with a loan of up to US$100,000,000 to Zenith Bank PLC; Advised the International Finance Corporation in connection with a loan of up to US$50,000,000 to Access Bank PLC;
Advised the Nigerian Energy Support Programme, commissioned by the German Government on the facilitation and implementation of mini-grid projects across various states in Nigeria;
Advised the International Finance Corporation on Nigerian law issues in connection with a loan of up to US$125,000,000 to First Bank of Nigeria Limited;
Advised Rand Merchant Bank and Africa Finance Corporation on Nigerian law issues in connection with a loan of US$95,000,000 to MTN Nigeria Communications PLC;
Advised Stanbic IBTC Bank PLC, as Lender’s counsel, with respect to an USD 11.3 million medium term loan facility advanced for the refinancing of a residential real estate development in Durunmi, Abuja;
Advised CEC Africa Investments Limited on project structures for its participation in the Eligible Customer sphere, under the Eligible Customers Regulations;
Advised Consolidated Infrastructure Group Ltd. on due diligence and project structuring for its investment in the development of an 8.5 MW dual fuel power project in Delta State;
Advising a leading oil and gas company on the debt restructuring of US$1.83 billion Senior Secured Medium-Term Acquisition Facility provided to the company by a syndicate of onshore and offshore lenders;
Advised Falcon Kinetics Limited on the Construction of the Civil and Structural Works for the development of a 4,000MT LPG Bulk Gas Storage Facility and Jetty Project at Rumuolumeni, Saipem/Aker Base Road, Port Harcourt, Rivers State, Nigeria;
Advised LADOL Integrated Logistics on its development of a 24 MW gas power plant for the generation of power within the LADOL Free Zone through an isolated urban Independent Electricity Distribution Network;
Advising a leading tech-enabled healthcare investment company in Nigeria’s health sector that specialises in healthcare PPP infrastructure projects across Africa in its intended collaboration with the Ghanian government for the purpose of financing, procuring, and deploying diagnostic facilities for use in the essential areas of radiology and pathology across hospitals in Ghana under a public, private partnership and build, operate and transfer arrangement;
Advising a consortium in its intended collaboration with one of the State Governments in Nigeria for the purpose of financing, construction, and development a 110 kilometers circular road in the State in order to improve traffic flow under a public, private partnership and build, operate and transfer arrangement.
UUBO’s Energy and Projects team have advised Geometric Power Limited in connection with (1) the US$50 million new debt funding provided by African Export and Import Bank (“Afrexim Bank”), (2) the debt restructuring of a facility of more than USD 500 million provided by three Nigerian lenders to Geometric Power Aba Limited (an affiliate of Geometric Power Limited), (3) the Aba Integrated Power Project (“Aba IPP”), and (4) the investment in the Aba Power Plant Project by equity investors who provided an aggregate amount of USD 19 million in new equity funding.
The Aba IPP is the most impactful and significant power sector project closing following the conclusion of the Azura transaction in 2015 and the power sector privatization in 2013. It is an integrated power island that has its own generation assets and its own distribution assets to serve a population of approximately 2 million people within 9 Local Government Areas in Abia State.
The transaction will lead to the creation of the 12th electricity distribution company in Nigeria and the establishment of a fully integrated utility by Geometric Group, having its own distribution network, an embedded generation facility and a dedicated 27-kilometre pipeline that will supply natural gas to the power plant. The BPE handed over the Aba IPP to Geometric today, Wednesday, 16th February 2022.
The UUBO team was led by Energy and Projects Partners Nicholas Okafor and Onyinye Okafor, with support from Amina Ibrahim (Managing Associate), Victor Samuel (Senior Associate), as well as Chisom Okolie, Maryam Salami, Uchechukwu Ajala, Oluwatobi Akintayo, Godson Iwuozo and Opeyemi Adeshina (Associates).
For more information about UUBO, its teams and our full-service offerings, including in Power, Projects and Infrastructure, please contact us at firstname.lastname@example.org.
Lagos State is the chief commercial and financial center of Nigeria, however, the state’s productivity is threatened by an inadequate transportation system to cater to its dense population of over 22 million people, heavy traffic and associated carbon pollution.
Udo Udoma & Belo-Osagie is delighted to have advised International Finance Corporation (“IFC”) on its sustainable loan of the Naira equivalent of USD 50 million to the Lagos State Government for financing the development, construction, and rehabilitation of two Quality Bus Corridors totaling 8 kilometers to be implemented by Lagos Metropolitan Area Transport Authority. In line with sustainable development goals, this impact investment aims to provide a sustainable transportation system in the megacity, ease the pressure on road traffic, and drastically reduce carbon emissions. The transaction also marks IFC’s first financing to a sub-national in Nigeria as part of its objective to achieve sustainable growth in developing countries.
The team was led by partners Nicholas Okafor, Yinka Edu, Onyinye Okafor, Joseph Eimunjeze and included Victor Samuel, Pamela Onah, Chisom Okolie and Maryam Salami.