Summary
Overview
Work History
Education
Skills
Websites
Accomplishments
Achievement - Presidential Advisory Committee - 2023 (Infrastructure Sub Committee)
Timeline
Generic
Musari A. Odunayo

Musari A. Odunayo

Lekki,Nigeria

Summary

Musari A. Odunayo is a Senior Manager in the Corporate Finance Unit at Axxela Limited, with over 13 years of experience in Mergers and Acquisitions (M&A), project finance, project development, financial modeling, valuation, financial analysis, deal structuring, budgeting, Public-Private Partnership, energy infrastructure development, FX Hedging/Management, Strategy and Corporate Planning, Taxation, Financial Reporting, Management, and Control. He is a practical financial modeler for oil, gas, and power infrastructure projects. He has collaborated extensively with the project development, sales, and engineering teams, as well as external stakeholders, to develop various energy infrastructure projects, including gas pipeline distribution networks, embedded and captive gas-to-power infrastructure projects, gas processing plants, and modular LNG and CNG projects. An individual who displays confidence in roles that require a high level of diligence, strong teamwork, and problem-solving skills, with dedication to achieving uncompromised quality of work. He is a graduate of Banking and Finance, a qualified Chartered Accountant (ACA), and a CFA Level 3 candidate. Apart from his personal achievements, Odunayo has created other impacts through leadership, mentoring, and training of junior colleagues ranging from analysts to senior officers in Axxela Limited and other organizations.

Overview

13
13
years of professional experience

Work History

Senior Manager, Corporate Finance

Axxela Limited (Formerly Oando Gas & Power Limited)
Victoria Island, Nigeria
01.2023 - Current
  • Secured FID, funding of over 120 km of natural gas distribution pipeline expansion network and executing the commercial strategy for the development of a new 6MW independent captive power plant
  • Structured and secured FID for a 12mmscfd capacity gas processing facility in the Niger-Delta region of the country
  • Key member of the team including the Africa Finance Corporation (AFC) involved in the structuring and development of a 150mmscfd gas processing plant in Ghana
  • Structured and developed the Lekki City Gate Financial Model which further enhanced capital recovery earnings to the Group
  • Achieved FID and project funding agreement
  • Established collaborative alliance with Upstream gas producer for gas supply and monetization opportunity and transferred to the Business Development team for advancement
  • Critical member of the team exploring the acquisition of majority stake in the carved-out power assets of a leading FMCG company in Nigeria
  • Spearheaded and structured development of pioneering AutoCNG plants nationwide in partnership with NNPC Gas Marketing Limited under the Presidential CNG Initiative, ensuring strategic capital allocation and risk mitigation for compressed natural gas (CNG) expansion in Nigeria, positioning Axxela as a leader in Nigeria’s alternative fuel transition.
  • Executed a Non-Deliverable Forward (NDF) hedge strategy that minimized potential valuation losses and FX risk exposure on a USD-denominated loan by approximately $37mn in 2023.
  • Developed and implemented the treasury investment framework and procedure, proactively investing excess cash leading to total earnings of $1.8MM within 15 months

Assistant Manager, Corporate Finance

Axxela Limited (Formerly Oando Gas & Power Limited)
Victoria Island, Nigeria
03.2018 - 12.2022
  • Negotiated and secured project intervention financing for various projects including, bank guarantee and SBLC, bid bonds and performance bonds worth over USD130mn
  • Actively involved in the structuring, debt sizing, forecasting, and coordination of issuing houses, solicitors, and regulators to deliver the circa N50bn (USD120mn) bond programme on capital market
  • Series 1 issue of N11.5bn (USD27mn) raised and oversubscribed at the peak of Covid-19 pandemic
  • Led the financial modelling and valuation of 25% economic divestment (USD65mn) to strategic investor
  • Collaborated with Rothschild & Co
  • To carry out the valuation of New Business Development (NBD) projects for contingent consideration
  • Developed and supported implementation of an investment framework to guide M&A and Divestments
  • Delivered Axxela Limited's first ever corporate/bond issue ratings with investment grade ratings of BBB+ (positive outlook)
  • Ratings now upgraded from BBB+ to A- and maintained for 3 consecutive years running
  • Achieved hedging of a USD64mn shareholder loan with Non-Deliverable Forward

Strategy & Planning Officer

Oando Gas and Power Limited
Victoria Island, Nigeria
07.2017 - 03.2018
  • Spearheaded a comprehensive corporate strategy revalidation exercise and developed a five-year medium term budget and business plan for the Group
  • The company achieved an impressive 30% revenue growth in the first three years of executing the plan
  • Reviewed business operations, data analysis, pricing models and development strategies to recommend process improvement opportunities
  • Re-designed the project forecast models to reduce budget preparation time by 30% in 4 months
  • Responsible for conducting variance analysis, identifying and explaining deviations between actual performance and financial forecasts for executive management and board reports.

Finance Officer

Oando Gas and Power Limited (now Axxela Limited)
Victoria Island, Nigeria
12.2011 - 07.2017
  • Prepared and presented financial performance reports to management for decision-making
  • Delivered the first IFRS compliant audited accounts for a subsidiary entity
  • Coordinated tax, Internal Control and year-end audits with external auditors
  • Implemented new technology (SharePoint Portal) and processes to facilitate monthly reporting that decreased reporting cycle by over 40%

Education

Associate Chartered Accountant (ACA) -

Institute of Chartered Accountant of Nigeria (ICAN)
Nigeria
01.2017

Diploma in International Financial Reporting -

Association of Chartered Certified Accountants (ACCA)
01.2014

Bachelor of Science - Banking & Finance

Lagos State University
Lagos, Nigeria
01.2010

Completed Level 1 and 2 -

CFA Institiute

Skills

  • Business Development
  • Financial modelling
  • Financial reporting & control
  • Ms Excel
  • PowerPoint
  • Ms Word
  • S&P Capital IQ
  • Budgeting & Forecasting
  • Taxation
  • Valuation
  • Treasury Management
  • Capital Market
  • Hedging Instruments
  • Mergers and acquisitions
  • Debt structuring
  • Stakeholder engagement

Accomplishments

  • Axxela Multi-Year Bonus Scheme Award - 2023 (dedicated to High Performer High Potential staff)
  • Axxela Leadership Development Programme - 2021
  • Oando Gas & Power Award, Letter of Commendation for Execution Excellence - 2016
  • Oando Plc (Group CEO) Discretionary Award Scheme, in Recognition for Exemplary Contribution - 2014
  • Oando Plc GCE Award, Best Departmental Team in Oando Award - 2011
  • Top Three Best graduating Student in Banking and Finance Department, 2008/2009

Achievement - Presidential Advisory Committee - 2023 (Infrastructure Sub Committee)

  • Collaborated with industry stakeholders (InfraCorp, NSIA, GE, Ministry of Transportation, Ministry of Works & Housing, Blackaion Capital, Ministry of Finance Incorporated, and others) on the development of the Infrastructure Master Plan.
  • This workgroup was created to bring the president's infrastructure vision to life and issued aimed to issue comprehensive report/roadmap to deliver quality infrastructure that Nigerians deserve, through public and private partnerships for infrastructure that foster sustainable economic growth, enhance quality of life for Nigerians, promote climate-resiliency, and ensure the efficient development of critical infrastructure.
  • The committee analyzed key issues and carried out root cause analysis and issued a compendium of refined action plans/initiatives to actualize the infrastructure vision of the President.

Timeline

Senior Manager, Corporate Finance

Axxela Limited (Formerly Oando Gas & Power Limited)
01.2023 - Current

Assistant Manager, Corporate Finance

Axxela Limited (Formerly Oando Gas & Power Limited)
03.2018 - 12.2022

Strategy & Planning Officer

Oando Gas and Power Limited
07.2017 - 03.2018

Finance Officer

Oando Gas and Power Limited (now Axxela Limited)
12.2011 - 07.2017

Associate Chartered Accountant (ACA) -

Institute of Chartered Accountant of Nigeria (ICAN)

Diploma in International Financial Reporting -

Association of Chartered Certified Accountants (ACCA)

Bachelor of Science - Banking & Finance

Lagos State University

Completed Level 1 and 2 -

CFA Institiute
Musari A. Odunayo