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Deep-Dive Report: The $1.2 Billion Handover — How Chappal Energies Bought Equinor Out of Nigeria, Ran Out of Money, and Ended Up Owned by the Shareholder Who Reported Its Founder



Deep-Dive Report: The $1.2 Billion Handover — How Chappal Energies Bought Equinor Out of Nigeria, Ran Out of Money, and Ended Up Owned by the Shareholder Who Reported Its Founder

































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In December 2024 Chappal Energies paid up to $1.2 billion for Equinor’s entire Nigerian business. Less than two years later its founder is in custody, a minority shareholder holds 86 per cent after a $100 million rescue, and the lesson for every Nigerian independent is about financing, not ambition.

Deep-Dive Report: The $1.2 Billion Handover — How Chappal Energies Bought Equinor Out of Nigeria, Ran Out of Money, and Ended Up Owned by the Shareholder Who Reported Its Founder

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