General
Energy Stakeholders Urge Nigeria, Others to Reject Anti-Fossil Fuel Policies
By Adedapo Adesanya
Energy stakeholders have urged African countries, including Nigeria, the continent’s largest crude producer, to reject all anti-fossil fuel policies that may arise at discussions at the 28th Conference of Parties (COP28) in Dubai, the United Arab Emirates (UAE).
They called on African countries to fiercely defend the role oil and gas play across the continent, adding that it has become clear that developed nations seem committed to phasing out fossil fuels, advocating for an anti-fossil fuel energy transition that does not take into account the needs of the developing world.
For instance, the African Energy Chamber (AEC) warned that if endorsed, this approach would cause detrimental impacts on Africa’s economies as the continent has not only contributed the least to global greenhouse gas emissions – less than 2 per cent – but faces the worst impacts from climate change, owing largely to the actions taken by developed countries for centuries.
The Chamber said, “Phasing out fossil fuels and opting for a ‘Western approach’ to the energy transition is simply not an option for Africa.”
By phasing out fossil fuels, Africa will not only reduce its inconsequential emissions but essentially phase out energy in almost its entirety. The main sources of energy in Africa are oil (42 per cent), gas (28 per cent) and coal (22 per cent), it said in a statement.
“If Africa were to phase out these resources, it would be transitioning from dawn to darkness,” it added.
On his part, Mr Haitham Al Ghais, Secretary General of the Organisation of Petroleum Exporting Countries (OPEC), issued a similar remark, urging member countries to reject any agreements that target fossil fuels during the climate negotiations.
He, instead, advocated for focus to be placed on reducing emissions rather than reducing energy.
“It seems that the undue and disproportionate pressure against fossil fuels may reach a tipping point with irreversible consequences, as the draft decision still contains options on fossil fuels phase out,” Mr Al Ghais noted.
“What we will continue to advocate for is reducing emissions, not choosing energy sources. The world requires major investments in all energies, including hydrocarbons, all technologies, and an understanding of the energy needs of all people. Energy transitions must be just, fair and inclusive,” he added.
This was echoed by Mr NJ Ayuk, Executive Chairman of the AEC, who noted that at COP27 which was held in Egypt in 2022, he advocated that Africa is trying to take the same path as wealthy countries that have used these resources to develop and position themselves financially and infrastructurally ready to transition away from fossil fuels.
“Last year, I wrote that I was going to COP 27 because I believe that if Africa is not on the table, it will be on the menu. It is unfortunate that a year on, we have seen little to no progress by Western nations to take into account the developmental needs of Africa. A year on, we are faced with the same threat: developed nations telling the world to abandon fossil fuels, thereby abandoning any chances of economic growth.
“Africa cannot afford to adopt the western-centric energy transition. Doing so would eliminate any chance of making energy poverty history, of industrializing economies and improving the lives of millions of people,” he stated.
“The green agenda promoted by the wealthy nations continues to ignore how instrumental oil and gas are in Africa. Climate panic and fear-mongering continue to be alive and well, and Africa should remain strong in its commitment to utilizing oil and gas for the betterment of its people,” Mr Ayuk added.
By Modupe Gbadeyanka
All the police personnel involved in the fatal shooting of Mr Mene Ogidi in the Effurun area of Delta State have been dismissed by the leadership of the Nigeria Police Force (NPF).
A statement issued on Wednesday by the police spokesman, Mr Anthony Okon Placid, a Deputy Commissioner of Police (DCP), said findings established unequivocally that the principal officer, ASP Nuhu Usman, acted in gross violation of Force Order 237 and other extant regulations governing the use of firearms.
The police described his actions as unlawful, unprofessional, and a clear betrayal of the oath to protect life and uphold the law.
It was gathered that the assassination of Mr Ogidi, captured in a video online, happened on Sunday when the deceased was with a package believed to contain a pistol.
After a public outrage, the Inspector-General of Police (IGP), Mr Tunji Disu, directed all officers connected to the incident to be immediately withdrawn from the Delta State Command and transferred to Force Headquarters, Abuja, where they were subjected to expedited disciplinary proceedings.
The Force Disciplinary Committee (FDC), alongside other internal disciplinary processes, after the conclusion of its review, recommended the immediate dismissal of ASP Nuhu Usman and other officers found culpable.
This has been approved by the police chief and forwarded to the Police Service Commission (PSC) for ratification in line with due process.
It was disclosed that upon completion of the administrative procedures, the affected officers will be handed over to the appropriate judicial authorities for prosecution for their roles in the extrajudicial shooting.
Mr Disu reiterated, in the strongest terms, that the Nigeria Police Force maintains a zero-tolerance stance on extra-judicial actions and abuse of power. No uniform confers the right to take life outside the provisions of the law. Any officer who violates this fundamental principle will face the full weight of disciplinary and legal consequences.
He extended his deepest and most solemn condolences to the family of the deceased, acknowledging the pain and loss suffered and assured the family that this tragic incident would not be treated lightly. The Force is fully committed to ensuring that justice is not only served but seen to be served, in a manner that reinforces public confidence and institutional accountability.
Members of the public were urged to remain calm and law-abiding, as the Nigeria Police Force remains steadfast in its commitment to discipline, professionalism, and the protection of the rights and dignity of all citizens while ensuring accountability at all levels.
By Modupe Gbadeyanka
Friday, May 1, 2026, has been declared a public holiday by the federal government to celebrate this year’s International Workers’ Day.
The public holiday was declared by the Minister of Interior, Mr Olubunmi Tunji-Ojo, in a statement signed by the ministry’s Permanent Secretary, Mrs Magdalene Ajani, on Thursday.
The Minister congratulated Nigerian workers on this year’s celebration, lauding them for their hard work and dedication to national development.
He noted that their efforts are essential for the nation’s growth and prosperity, urging them to embrace patriotism, productivity, and dedication to their duties. According to him, these qualities are crucial for sustainable development, assuring that the federal government is committed to supporting the welfare and security of all workers and creating a favourable environment for economic growth.
While wishing workers a happy celebration, the Minister urged all Nigerians to remain peaceful and law-abiding, encouraging everyone to use this occasion to reflect on the importance of unity and hard work in building the nation.
By Adedapo Adesanya
The World Bank Group’s private-sector arm, the International Finance Corporation (IFC), and Standard Chartered on Wednesday announced a new risk-sharing facility aimed at strengthening supply chains and supporting business growth across Africa.
The programme will roll out across eight markets—Côte d’Ivoire, Egypt, Ghana, Kenya, Nigeria, South Africa, Tanzania and Zambia—targeting sectors including agriculture, healthcare and manufacturing, with a focus on improving access to working capital for suppliers.
This marks the IFC’s first project under its Global Supply Chain Finance Program and the Africa Trade and Supply Chain Recovery Initiative, supported by the International Development Association’s Private Sector Window Blended Finance Facility.
Global demand for supply chain finance continues to rise, reaching an estimated $2.7 trillion in 2025, an increase of 8 per cent year-on-year. However, access in emerging markets remains limited, as financial institutions tend to prioritise developed economies.
The facility will cover up to $300 million in supply chain and trade finance assets originated by Standard Chartered. It includes financing instruments such as payables finance, receivables discounting and pre-shipment finance programmes, which enable businesses to access funds earlier in the payment cycle.
The facility aims to address this imbalance by mitigating risk in short-term trade and supply chain finance portfolios, helping to unlock capital in underserved markets.
By accelerating payments to suppliers, the initiative aims to strengthen supply chain relationships, improve delivery reliability and support job creation across value chains.
IFC will provide guarantees of up to $150 million, with $100 million committed as an initial tranche. The facility will support transactions in both U.S. dollars and selected local currencies.
Over three years, the partnership is expected to enable approximately $1.9 billion in supply chain finance transactions, supporting more than 500 suppliers, including small and medium enterprises. The programme also has the potential to indirectly benefit over 1 million farmers.
Speaking on this development, Mr Mohamed Gouled, Vice President, Products & Clients at IFC, said, “Supply chain finance is among the fastest ways to narrow the growing finance gap that businesses, particularly small and medium enterprises, are facing in emerging economies. By partnering with Standard Chartered to support companies at the centre of strategic value chains, we can unlock much-needed working capital at scale for businesses across Africa, including smaller firms and farmers, making supply chains more competitive and boosting job creation.”
On his part, Mr Dalu Ajene, Chief Executive and Head of Coverage, Standard Chartered Africa, said, “This $300 million facility with IFC underscores our shared commitment to strengthening Africa’s supply chains and enabling sustainable business growth. As a super-connector bank with deep expertise across key trade corridors linking Africa to Europe, Asia, the Middle East and the Americas, we are uniquely positioned to channel capital and innovation into the real economy.”
“By expanding access to supply chain finance, we are helping African companies unlock liquidity, manage risk, and invest with confidence. Our collaboration unites Standard Chartered’s cross-border expertise with IFC’s development mandate to empower businesses – from major corporations to smaller local suppliers – to engage more actively in regional and global trade, fostering job creation and promoting inclusive growth,” he added.
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