Coastal Africa Group Ltd has announced plans to begin trading on London’s Alternative Investment Market (AIM) as it seeks to expand investments across oil and gas assets in Nigeria and other West African countries.

The newly incorporated firm said it will focus on acquiring and investing in oil and gas assets, energy infrastructure, and energy services across the region. It is targeting admission to AIM in early June and expects to complete its first acquisition within 18 months.

The company also plans to build a portfolio of minority, non-controlling stakes in energy assets, with Nigeria and Angola identified as key markets.

Coastal Africa highlighted a widening energy imbalance in Nigeria, noting that there is currently a significant gap between electricity supply and demand. It warned that Nigeria faces a three times electricity demand deficit, which could rise to nine times by the end of the decade.

The firm added that Nigeria’s economy is projected to grow at about four per cent annually through 2030, driven by population growth and urbanisation, which will further increase energy demand.

It also noted that a reduction in inflation and enhanced foreign exchange stability is also supportive of the fiscal outlook for Nigeria.

Beyond Nigeria, Angola remains a key focus. The company said both countries are experiencing economic and demographic fundamentals supportive of sustained growth in domestic demand for oil and gas resources.

Coastal Africa is led by Chief Executive Officer Conrad Clauson, Chief Financial Officer Ogbemi Ofuya, and Chairman Peter Kimpel.

Chairman Peter Kimpel said: “The current environment offers a unique and timely opportunity for a company, such as Coastal, led by a team with the relevant experience and ability, to deliver material returns to investors, while supporting local companies, communities, and regional and national governments, as they seek to attract investment to maximise returns from oil and gas assets in support of wider economic, social, and community development.”

Chief Executive Officer Conrad Clauson said: “We are seeking to replicate the strategy deployed in Southeast Asia by Coastal Energy Co, which has already proven successful, delivering around 6x return on equity capital raised. That strategy is based on an integrated approach, which better aligns operational interests, enhances project execution efficiency, reduces execution risk, and supports better asset returns. That approach also unlocks transactions that may not otherwise be plausible, creating a wider opportunity set, and reducing exposure to oil price volatility.”