Olaniwun Ajayi LP

Power & Infrastructure

Deputy Managing Partner

Wolemi Esan SAN, is the firm's deputy managing partner. He routinely advises on all aspects of the development, privatization, acquisition, financing and operation of power and infrastructure assets. He also supports clients on a wide variety of complex commercial transactions (including corporate financings, mergers and acquisitions) across the broad spectrum of the Nigerian economy.

Wolemi, who has been described by as “…the one who can identify issues,” and praised for his “breadth of knowledge and ability to think very commercially”, is well regarded as a multi-specialist with broad-based experience in corporate and commercial law. He is ranked as a leading lawyer in Nigeria by the top independent legal directories, including Chambers Global, IFLR 1000 and Legal 500.

A Jeremy Bentham legal scholar with an MBA from Durham Business School, Durham University, Wolemi also occasionally undertakes pro bono criminal defense work for indigent accused persons.

MBA, Durham Business School, Durham University

LL.M, University College London

BL, Nigerian Law School

LL.B, Lagos State University

Wolemi is the firm’s deputy managing partner, and the head of our Power and Infrastructure practice group. He is a highly experienced lawyer with significant expertise and a wealth of knowledge in project development. He has a particular focus on handling the full spectrum of power, infrastructure, and mining asset matters, including   acquisition and financing. He is skilled in advising across the broad spectrum of the Nigerian economy and is a trusted advisor in highly challenging finance transactions.

Wolemi’s recent highlights include:

·       Representing Lenders including Access Bank Plc., African Export-Import Bank, First City Monument Bank Limited, et al., in relation to the restructuring of a number of facilities granted to Nestoil Limited by the Lenders, under bilateral and syndicated loan arrangements for the acquisition of an interest.

He is regarded as a thought leader and routinely provides expert opinion on financing issues and policies arising within the Nigerian financing sphere.  He has an exceptionally strong reputation in the market, has a sheer value of the big tickets transactions in the industry. He recently led team that advised FG Gold Limited in connection with a $55 Million mezzanine financing agreement entered into with the Africa Finance Corporation, which is aimed at providing financing support for the construction of the Baomahun Gold Mine, the first commercial gold mine in Sierra Leone. He regularly advises the Federal Government, various State Governments, agencies, statutory corporations, ministries, and parastatals including the Asset Management Corporation of Nigeria, Nigeria Sovereign Investment Authority,  supranationals and development finance institutions, including International Finance Corporation, Proparco the Agence Française de Dévelopement African Development Bank, African Finance Corporation, Africa Export and Import Bank as well as the Securities and Exchange Commission and the Nigerian Stock Exchange, in highly sensitive commercial transactions.

Representing Lenders including Access Bank Plc., African Export-Import Bank, First City Monument Bank Limited, et al., in relation to the restructuring of a number of facilities granted to Nestoil Limited by the Lenders, under bilateral and syndicated loan arrangements for the acquisition of an interest. leading the team advising BUA Cement Plc on the grant of a US$ 500,000,000.00 (Five Hundred Million United States Dollars) term loan by International Finance Corporation and other Senior Lenders (including Africa Finance Corporation, African Development Bank and DEG) for the expansion of BUA Cement Plc’s integrated cement plant from 2.0 million tons per annum to 8.0 million tons per annum, procuring of quarrying equipment and the construction of 120 MW of captive gas-fired power plants and 10 MW of renewable energy plants; leading the team advising Standard Bank South Africa (the Lender) in connection with a US$10,000,000 (ten million US Dollars) debt financing to Engie Afrique SAS for the expansion of its renewable energy offerings within Eastern and Western Africa (CONFIDENTIAL);

Representing Lenders including First Bank of Nigeria Limited, Union Bank of Nigeria Plc, Union Bank UK Plc, and First City Monument Bank Limited et al., in connection with the restructuring of a c. USD371 million term facility granted to Accugas Limited.