22.02.2018
Stella Duru
Stella Duru

Partner Banwo & Ighodalo – Nigeria

 

Stella Duru is one of three and the only female partner in the Energy Practice Group of Banwo & Ighodalo. Banwo & Ighodalo is a multidisciplinary firm, with a seven (7) man partnership and over forty (40) other lawyers, which provides first-class legal advice on numerous aspects of corporate and commercial Nigerian law. With her experience in project financing, Stella will typically lead teams involved in the financing of deals undertaken by oil, gas and power companies. She obtained a law degree from the University of Lagos, Nigeria; and was admitted into the Nigerian Bar on the 23rd of January 2001.

 

Stella is a member of the Nigerian Bar Association, International Bar Association (Section on Energy and Natural Resources Law), Association of International Petroleum Negotiators and has extensive experience in all of her core areas of practice. Since 2007, Stella has been leading the team that has been advising Brass LNG Limited, in relation to all aspects of the engineering, procurement, construction and installation portions of its multi-billion dollar greenfield liquefied natural gas project on Brass Island in Bayelsa State and has been single handedly negotiating the licensing agreement for the technology to be utilized in the project. She has been engaged in several of the power privatization transactions including, the US$121,800,000 financing of the acquisition of 60% of the issued shares of Abuja Electricity Distribution Company Limited by KANN Utility Company Limited, a special purpose vehicle of Copperbelt Energy Corporation PLC and XerXes Global Investments; the US$97,000,000 financing of North South Power Company Limited’s concession of the assets of Shiroro Hydro Electric Plc.; the debt financing to be procured from a syndicate of Nigerian banks by Taleveras Group of Companies for the acquisition of Afam Power Plc.; the successful bid to acquire majority equity stakes in Benin electricity distribution Plc. and also the bid to acquire Ikeja electricity distribution Plc by a consortium comprised of Vigeo Holdings Limited, Africa Finance Corporation Global Utilities Management Company Limited and their foreign partners. Stella is presently leading the initiative on renewable energy transactions in the firm and in this regard is currently advising a several international investors considering setting up renewable energy plants in Nigeria.

 

Other transactions Stella has been involved in, include advising the Dangote Group on its bid to acquire a 45% participating interest in OML 18 from The Shell Petroleum Development Company, Total E&P Nigeria Limited and Nigerian Agip Oil Company; advising Afrique Energie, a company operating out of Canada on its proposed acquisition of upstream oil and gas assets in Nigeria; advised Persianas Properties Limited and Persianas Nigeria Limited on a US$58,687,234.39 and US$ 21,835,127.39 facilities respectively granted to both Companies in connection with the extension of the Palms Shopping Mall located in Lekki, Lagos. The Palms Shopping Mall is the very first of its kind in Nigeria.

 

Stella has authored many articles in leading law publications and also delivered several presentations on diverse subjects, including a presentation titled “Renewable Energy Through the Ages – Legal and Regulatory” presented at the 2nd Annual REFSA Conference in Johannesburg, South Africa.

 

Her hobbies include watching movies, reading, traveling and participating in intellectual discourse. Stella is currently unmarried

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