AS we celebrate the 70th birthday of Professor Anthony Olusegun Adegbulugbe on Wednesday April 2, 2025, we need to note that we are honouring a remarkable individual who has left an indelible mark in the academia and industry. Not many scholars have successfully migrated from the classroom to the boardroom as an investor, like Adegbulugbe. He has curiously done so in the likeness of the iconic Jim Simons – (James Harris Simons (April 25,1938 – May 10, 2024), an American mathematician who did well as a hedge fund manager, investor and philanthropist. The Cambridge Massachusetts born investor, Simons did his bachelor’s degree in Mathematics at the Massachusetts Institute of Technology, did his M.Sc, PhD at the University of California, Berkeley.
The Oswald Veblen laureate and founder of Renaissance Technologies developed the Chern-Simons form (with Shiing-Shen Chern), and contributed to the development of string theory of providing a theoretical framework to combine geometry and topology with quantum field theory. In 1994, Simons and his wife, Marilyn, founded the Simons Foundation to support research in mathematic and fundamental sciences. At the time of his death in May, 2024, Simons’ net worth was estimated to be $31.4 billion, making him the 55th richest person in the world.
It is clear enough that Professor Adegbulugbe has borrowed from the brilliance of the scholar and investment guru, Simons who began too from MIT where he (Adegbulugbe obtained his D.SC in Nuclear Materials Engineering.
It is also clear that the scholar has imbibed the Simons’ effect as a scholar and a successful investor in the cognitive discipline that made him a contributor to the UN Intergovernmental Panel on Climate Change Assessment Reports, which won for the IPCC the 2007 Nobel Peace Prize along with former Vice President, United States, Al Gore.
Evidence in the mix here…
On Tuesday March 18, 2025, the day emergency rule was imposed on Rivers state, the Minister of State Petroleum Resources (Gas), Rt. Hon. Ekperikpe Ekpo, commissioned the first Otakikpo LPG Extraction Plant and 20Mw Gas-to-Power Project on behalf of the President, Asiwaju Bola Ahmed Tinubu. The special pioneer energy project is the brainchild of the First Otakikpo Midstream Limited, chaired and managed by the distinguished scholar, Anthony Adegbulugbe, a professor of Nuclear Materials Engineering/Energy Management System his family, relations, colleagues and even national leaders will be celebrating (on Wednesday April 2, 2025) at 70.
Ekpo who commissioned the 12 Million Standard Cubic Feet (mmscf) LPG Extraction Plant and the 20 Mega Watts Gas to power plant built by the Otakikpo joint venture (comprising Green Energy International Limited, the Operator and Lekoil, the Technical Partner of Otakikpo field PML 11, Rivers State said the government of President Bola Tinubu was elated by the development. Just like Jim Simons, the scholar has become a significant investor whose investment along the value chain, will certainly supply electricity to various communities for the first time in the areas of operations.
Born in Ibadan on April 2,1955, Adegbulugbe whose parents hail from Ondo town in Ondo state, had his secondary education at Loyola College, Ibadan where he passed with Distinction. He then moved on to the University of Ife now OAU where he studied Electrical /Electronic Engineering and he graduated with B.sc (Hon) in Electrical Engineering (First Class) with a Grade Point Average (GPA) of 5.0 on a scale of 5.0 in June 1976, a feat only few have matched. For his postgraduate education, he bagged a university scholarship to the Massachusetts Institute of Technology (MIT), Cambridge, Mass: U.S.A and obtained a D.SC. in Nuclear Materials Engineering, minor programme in Energy Planning and Management in June 1981.
His career:
After his first Job as Pupil Engineer, at NEPA later PHCN in 1976-1977, he crossed over to the Academia as a Graduate Assistant, later Senior Research Lecturer of the Obafemi Awolowo University Centre for Energy Research & Development from 1977 where he rose not only rose to become a Professor of Energy Management and Planning but was its Director /Chief Executive for a record of 13 years. He was a much sought after academic all over the world for his profound intellectual contributions in the area of Energy policy, planning and climate change. He was therefore on several national and international assignments such as member and chairman Sub-Committee on Information Technology, Expert Group on Technology Transfer (EGTT), United Nations Framework Convention on Climate Change (UNFCCC).
Bonn, Germany, 2001-2004.Member, Scientific Advisory Panel, RISO National Laboratory, UNEP Collaborating Centre for Energy and Environment, Denmark, 2000-present. Lead Author, Special Intergovernmental Panel on Climate Change (IPCC), Report on CO2 Capture and Storage, WMO and UNEP, 2002-present. Coordinating Lead Author on Energy Supply, Fourth Technical Assessment Report of the Intergovernmental Panel on Climate Change (IPCC), WMO and UNEP, 2004-present. Lead Author on Energy Efficiency, Third Technical Assessment Report of the Intergovernmental Panel on Climate Change (IPCC), WMO and UNEP, 2000.Member, Energy Committee, World Federation of Engineering Organisation (WFEO).1990-1992.Member of Various Review Teams, GHG Inventory from the Energy Sector of USA, UK, Latvia, Ireland, Bulgaria, UNFCCC .2000-2003.Consultant, Energy Sector Management Programme (ESMAP) Study for Nigeria; World Bank 1993.
He also served as Consultant, Energy and Environment Interaction in Nigeria; African Development Bank, 1996,Project Coordinator, Energy Master-Plan for Development – Nigeria; EEC/EDF funded project, 1989-1993,Principal Investigator, Sectoral Perspective Studies on Energy and Hydrocarbon Resources; National Planning Commission, 1992,Consultant, Development of Forecasting Methodology for Petroleum Products; NNPC, 1988,Consultant, Energy Audit Study for Kaduna and Warri Refineries; NNPC, 1989,Principal Investigator, Assessment of Energy Issues and Strategic Agenda in West and Central Africa; World Energy Council, 1992,Principal Investigator, Long-Term Energy Scenario for Nigeria, Lawrence Berkeley Laboratory, California USA., 1990,Consultant, Nigeria First Communication to the UNFCCC; Federal Ministry of Environment, 1998-2000,Project Director, Greenhouse Gases Emission Reduction in Nigeria: He also served as a Member, Expert Group on Technology transfer (EGTT), United Nations Framework Convention on Climate Change (UNFCCC), Bonn, Germany, 2001 – 2004, Member, Inter-Ministerial Committee for the Review of the Draft National Energy Policy 2002,Member, Ogun State Technical Committee on Oil, Energy and Mineral Resources 2003 – 2007; Member, Nigeria Delegation/Negotiation Team to Conference of the Parties (COP) 7, 8 & 9, United Nations Framework Convention on Climate Change (UNFCCC) 1999-2002 ,Member, Technical Advisory Committee, Energy Commission of Nigeria 1992-2000, 2000-present ,Member, Nigeria National Committee, World Energy Council from 1994.
Prof Adegbulugbe has been involved in the development of Universities at the highest governing level such as Member, Governing Council, Obafemi Awolowo University, Ile-Ife, 1997 – 1999, Member Governing council of the University of Abuja 2012-2015, member Board of Trustees, Joseph Ayo Babalola University (JABU), Arakeji; Member Federal Government Visitation Panel to Federal Polytechnic, 2013 National Service.
What is more significant, when the nation was hunting for solutions to critical challenges in the power sector, President Olusegun Obasanjo in 2005 appointed Adegbulugbe as his Presidential Adviser on Energy Matters. He at the same time was made Chairman Gas-to-Power Project, a World Bank project designed to prepare a workable interface between the power, the oil and gas sectors. The administration had then realised the need for the development of gas to drive the Power sector as a way of solving the Energy problem. Behold, Adegbulugbe came to the rescue with a series of policy initiatives that would have made Gas available for the power turbines, which Nigeria invested billions of dollars in bringing to Nigeria.
In addition to his portfolio as Special Adviser to the President, Adegbulugbe was a Member, Economic Management Team, Member of Presidential Council on Mambilla Hydro Project, Alternate Chairman, Nigerian Nuclear Regulatory Authority, Chairman, National Multi-sectoral Energy Access Committee. Meanwhile, at a conference on Energy Access for ECOWAS in the Gambia, he was elected as Chairman, ECOWAS Regional Multi-sectorial Committee on Energy Access after a powerful presentation on how to empower the rural communities for economic development using small-scale energy support through renewable energy.
Perhaps it needs be noted his spirited effort to revive the then moribund Nigeria Atomic Energy Commission, which he saw as a veritable source of coordinating efforts to use nuclear reactors for power generation for the country. To him as a nuclear expert, Atomic Energy also offers a good source of power in spite of fears over its possible negative uses. Indeed he led the Nigerian Delegation to the International Atomic Energy Agency conference in 2006 where Nigeria was re-admitted into the fold.
Anthony as a scholar and an entrepreneur:
The restless MIT-trained engineer who is always obsessed with seeking creative solutions to Nigeria’s challenges, was not satisfied as an academic professing theoretical solutions to the energy conundrum Nigeria found itself. So, he sought for an opportunity where his ideas on climate change and zero gas flares in the oil and gas sector could be implemented. Providence brought him an opportunity through the decision of the Federal Government to implement a pilot project of the World-Bank propelled small scale gas utilisation project, whereby Green Energy International Ltd, of which he was prime mover, was granted the Operatorship of the Otakikpo field in OML 11, based in River state, to implement practically a zero-gas-flare field.
In this field, all products in the value chain particularly gas will be utilised for gas to power and Liquefied Petroleum Gas (LPG) otherwise known as cooking gas. The field under 24 months was brought into production of 6000 barrels of oil per day, a feat, which is a record in the industry. That small asset is becoming a reference point in marginal field operations with its recently approved one million capacity onshore terminal, 40,000 barrels per day processing facility and 20km export pipeline, among other projects.
Leadership and entrepreneurship:
As the Chairman of Green Energy Ltd., Adegbulugbe has brought his expertise and vision to the forefront of the renewable energy sector. His leadership has been instrumental in driving innovation and sustainability in the industry. Through his work, he has demonstrated that business and environmental stewardship can go hand-in-hand.
He is a member of prestigious professional bodies, including the Nigerian Society of Engineers(NSE), Knowledge Networks for Sustainable Energy in Africa (KNSEA), the International Association of Energy Economists (IAEE), and the Africa Energy Policy Research Network (AFREPREN). Awards and recognitions:Doctorate degree (Honoris Causa) of Afe Babalola University, Ado Ekiti (ABUAD) – 2017; Best graduating student Obafemi Awolowo University – 1976; Special Alumni Merit Award – 2003; Presidential Special Merit Award from the Nigerian Society of Engineers – 1992; American Nuclear Society his outstanding research papers in the field of Nuclear Materials; African Peace Man of the Year – 2023; FUPRE Excellence in Leadership and Corporate Integrity Award – 2021…
Servant leader in the vineyard…
One sterling attribute in the life of the genius is that despite his strings of achievement in several areas of endeavour, he exudes uncommon humility and friendliness, which endears him to all. He is eager to help people in need through his philanthropy, quite like the role model, Jim Simons.
The significant scholar is also called Barnabas, described in the ancient word as “a good man, full of Holy Spirit and of faith”. Despite his busy schedules, Adegbulugbe, has been quite active as a fulltime Pastor of the Christ Apostolic Church (CAC). He has just been named Chairman of the District Coordinating Council (DCC) for All-Saints District of the church. Adegbulugbe sees his service to God as his own thanks offering for the amazing grace he has enjoyed from God.
Let’s therefore pump 70 metric tonnes of cheers to the scholar and investor who has demonstrated to the intellectual powers and people of the world that first-class scholars too can trigger significant business success in their areas of cognitive discipline.
- Oloja is former editor of The Guardian newspaper and his column, Inside Stuff, runs on the back page of the newspaper on Sundays. The column appears on News Point Nigeria newspaper on Mondays.