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Sola Arifayan

Sola Arifayan


Sola leads Ikeyi & Arifayan’s Project Finance, and Energy & Utilities practices.  He specialises in Nigerian electricity law.  He previously advised government and the regulator on legal, policy and regulatory matters relating to the Nigerian power sector.

He regularly advises on development of new power generation and distribution projects, and on restructuring and privatisation of brownfield projects.  He supports project sponsors, developers, lenders and borrowers on oil and gas, power and other projects.  His utilities experience includes telecommunications, where he has advised on development, roll-out and management of networks, as well as acquisition and distribution of content.

Sola also routinely advises on foreign investment into and divestment from Nigeria.  He assists with structuring and documentation of investment and divestment transactions, including by multinationals, private equity funds, and other investors.

He is also a chartered accountant.

Professional Experience

Representative matters in which Sola has been involved include advising–

  • Sponsor/developer of a 495 MW gas fired independent power project and associated US$ 90 million transmission component, in Eastern Nigeria.
  • Sponsor of a 275 MW gas fired independent power project in Lagos State.
  • Developer of captive and embedded power solutions, with portfolio of more than 40 MW generation capacity and 150 km distribution network.
  • National Integrated Power Project (NIPP): on licensing of 7 power plants with total capacity in excess of 2,750 MW.
  • Provider of IP backbone services and converged telecommunications solutions: on network deployment (over 400km of metro and last-mile fibre) and content acquisition.
  • Government of Nigeria: on the privatisation of the NIPP power plants.
  • Government of Lagos State of Nigeria: on contractual issues relating to the AES Barge power project.
  • Nigeria’s leading provider of emergency and temporary power rental services, with a projects portfolio in excess of 90MW: on legal and regulatory matters.
  • Several private equity funds: on investments and divestments in energy, TMT, financial services and agriculture sectors of the Nigerian economy.

Practice Areas

  • Energy & Utilities
  • Project Development & Finance
  • Technology, Media & Telecom
  • Corporate and Investment

Professional Memberships

  • Fellow, Chartered Institute of Taxation of Nigeria
  • Fellow, Institute of Chartered Accountants of Nigeria.


  • 1998

    University of Lagos: LL.B.

  • 2000

    Nigerian Law School: BL.