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African Oil Producers Seek Commitment For $5bn Africa Energy Bank

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African Energy Bank Headquarters

By Adedapo Adesanya

The African Petroleum Producers’ Organisation (APPO) has urged member countries to fulfil their financial obligations towards establishing the Africa Energy Bank (AEB), the first of such financial institutions on the continent.

Recall that Nigeria recently secured the hosting rights for the bank, which will be located in Abuja, the nation’s capital.

To ensure the bank’s operationalisation, APPO Secretary General, Mr Farouk Ibrahim, called on African oil-producing member countries to contribute their subscription fees of $83 million, to aid the bank’s expected launch in September 2024.

Mr Ibrahim appealed during the 18th ordinary meeting of the APPO executive board in Brazzaville, Republic of Congo, where APPO headquarters is situated, a statement signed by the Permanent Secretary, Ministry of Petroleum, Mr Nicholas Ella, said on Wednesday.

“We are aligned with the resolutions of the APPO Council of Ministers from last week. We will double our efforts to ensure we gather the necessary funds to initiate the Africa Energy Bank,” Mr Ibrahim said.

He further disclosed that the oil-producing member countries had formally written to the Nigerian government to discuss expedited steps to establish the bank.

“On Friday, July 5, we formally wrote to the Federal Republic of Nigeria. We will discuss how quickly the bank building will be ready and the host country agreement prepared for signature. We already have one member country that has signed the establishment agreement. We need one more signature to proceed,” Ibrahim added.

Expressing President Bola Tinubu’s gratitude to member states for their unwavering support and confidence in Nigeria’s bid to host the bank, Mr Ella, who led Nigeria’s delegation, reiterated commitment to the continental bloc’s ideals to enhance energy security in Africa.

“The gathering of the 18 member countries of APPO in Brazzaville demonstrates our collective dedication to fostering unity, cooperation, and sustainable development within the African energy sector,” noted Mr Ella.

He pledged Nigeria’s determination to collaborate with other members to address the financial needs of Africa’s energy sector through funding oil and gas projects.

Mr Ella urged member countries to harness the collective strength of the continent’s nations to build a brighter, more prosperous future for Africa.

“Together, we will create an institution that addresses the financial needs of our energy projects and champions sustainable development, environmental stewardship, and economic inclusivity across Africa,” he added.

During a brainstorming session on the continent’s energy future, Algerian executive board member,  Mr Remini Amine, emphasised that local content, manpower, and infrastructure development remain key to unlocking Africa’s energy opportunities.

APPO member state representatives agreed that the energy bank would bridge funding gaps in the sector, with Mr Ibe Kachikwu, a former Nigerian Minister of State, Petroleum Resources, suggesting a 10-year plan for the energy industry to encourage an “open era” for investment. Kachikwu advised APPO to grow the energy bank’s capital base before investing.

Speakers at the week-long event emphasised the need for National Oil Companies (NOCs) to lead in crude oil production and refine oil to meet local consumption needs. The energy bank is an initiative of the APPO and Afreximbank.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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Lagos to Probe Alakija Building Collapse, Prosecute Culprits

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alakija building collapse

By Adedapo Adesanya

The Lagos State Government has said it will investigate the collapse of a three-storey building in the Alakija area of the state and prosecute anyone found culpable, while warning residents against ignoring evacuation notices issued on distressed structures.

The Commissioner for Information and Strategy, Mr Gbenga Omotoso, gave the warning on Friday while commiserating with the families of the victims, describing the incident as unfortunate.

“Our first duty is to commiserate with the families who lost their loved ones in this unfortunate incident. On behalf of Governor Babajide Sanwo-Olu, we sympathise with them and pray that such a tragedy never occurs again,” he said.

Latest update from the state government put the casualty figures at 27 rescued and nine fatalities, including a baby.

He disclosed that 27 persons were rescued alive from the rubble, while nine others lost their lives despite overnight rescue efforts.

“By the grace of God, we have been able to rescue 27 people. Unfortunately, we lost nine persons and this is very sad. We share the pain of the affected families,” he said.

According to the commissioner, the collapsed building had earlier been identified as distressed and marked for evacuation, but some occupants allegedly returned after initially leaving.

“As you can see, these buildings had been marked as distressed and people were asked to leave. Unfortunately, some residents returned after pretending to have moved out, leading to this tragic outcome,” Mr Omotoso said.

He added that other distressed buildings in the area would be demolished to prevent similar incidents.

“All the buildings that have been identified as defective will go down. We cannot wait until another tragedy occurs before taking action. The protection of lives remains our priority,” he said.

Mr Omotoso also condemned the construction and occupation of buildings beneath high-tension power lines, describing the practice as unsafe and unacceptable.

“It is not done in any civilised society. Such developments show disregard for safety regulations and contempt for the law. Government will continue to clamp down on such violations,” he said.

He assured residents that a full investigation into the collapse had commenced, stressing that anyone found responsible would face prosecution.

“The owners of the building are under investigation. Anybody found complicit in this tragedy will face the law. They will be prosecuted because no one is above the law,” he said.

The commissioner said most of the rescued victims sustained no life-threatening injuries, while those requiring further medical attention had been taken to the hospital.

He also praised the Lagos State Emergency Management Agency, the Lagos State Fire and Rescue Service, the police, the military, neighbourhood safety personnel and other emergency responders for their swift response.

“I must commend all our emergency responders who worked tirelessly throughout the night to save lives and bring the situation under control,” he said.

Mr Omotoso urged residents to prioritise safety over economic considerations.

“The most important lesson from this incident is that nobody should prioritise livelihood over life. Once life is lost, everything is lost. No business is worth risking human lives for,” he added.

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Deregistration: Peter Obi’s NDC to Challenge High Court Judgment

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peter obi NDC

By Modupe Gbadeyanka

The Nigeria Democratic Congress (NDC), founded by Mr Seriake Dickson, has reacted to reports claiming that a Federal High Court in Lokoja, Kogi State, has ordered its deregistration by the Independent National Electoral Commission (INEC) over an alleged logo infringement.

In a statement on Friday, the political party, which presented Mr Peter Obi as its presidential candidate for the 2027 general elections, said it had instructed its lawyers to challenge the judgment said to have been delivered by Justice Isah Dashen.

“Our attention ​has been drawn to a ruling by the Federal High Court sitting in Lokoja this morning, wherein His Lordship, Honourable Justice Isah Dashen, gave a ruling on an application filed by an unregistered association known as Peace Movement Party.

“The public knows that by December 2025, the Nigeria Democratic Congress, as an association, complained of INEC’s refusal to register us as a political party, whereupon we proceeded to the Federal High Court. The Federal High Court upheld our constitutional right to freedom of association under the Constitution and compelled INEC to register us, which INEC did.

“Since then, we have started political activities, embarked on the registration of members, held congresses from ward to national levels, held conventions, and concluded primaries to all offices following INEC’s timetable. We have been fully participating in all INEC activities without let or hindrance.

“NDC also fielded candidates, and fully participated in the just-concluded bye elections in Nasarawa and Enugu states.

“Candidates for the House of Assembly, House of Representatives, Senate, Governorship, Presidential, and Vice-Presidential positions have been duly nominated, and we are in the process of formally submitting them to INEC in accordance with INEC’s timetable.

“The association that filed the complaint is unknown to us. The Peace Movement Party (PMP) is not a registered political party in Nigeria. They claimed, in a motion (not even a substantive suit or appeal), that the court should set aside its earlier judgment on the purported ground that, in 2015, they had sought registration as a political party with the victory sign as their symbol and were denied.

“It is important to note that they are not an association applying for registration now under the exercise that started last year. They are also not a registered political party in Nigeria participating in the political process now, as we are.

“Furthermore, the court, having delivered a final judgment in our suit against INEC, had become functus officio. The court had also dealt with all related issues concerning associations claiming they wanted to use the same symbol and colours. The court, in its judgment, overruled INEC when those issues were raised, and there is no appeal against that judgment.

“Therefore, we are surprised that, on an application by an association claiming that it wanted to register as a political party with the victory sign in 2015—an association that is not a registered political party and is not seeking registration now to participate in the current political process—His Lordship came to the conclusion that they have locus standi, and furthermore, that he has jurisdiction to do what he did.

“Accordingly, we have been informed that His Lordship made an order setting aside the court’s earlier decision of December 2025.

“There was no order directing our deregistration. However, we are dissatisfied with the decision that has been made, and we have instructed our team of lawyers to immediately proceed to the Court of Appeal to challenge the jurisdiction and propriety of His Lordship’s order.

“We assure the general public, and particularly our candidates at all levels, that our party is on course. The NDC has not been deregistered, and we are challenging today’s order at the Court of Appeal as soon as possible. We have no doubt that justice will be done.

“We condemn efforts by those who seek to shrink the democratic space and stifle opposition voices and alternatives. Nigerians have a right to a full range of opinions, ideas, and alternatives, and political platforms and candidates should be allowed to participate in the 2027 general election process, which has already gone midway,” the statement read.

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Makinde Extends Curfew in 10 Local Governments by 24 Hours

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seyi makinde curfew extension

By Adedapo Adesanya

The Governor of Oyo State, Mr Seyi Makinde, has approved the extension of the curfew imposed on 10 local government areas bordering the Old Oyo National Park by an additional 24 hours.

The development was announced in a statement issued by the Secretary to the State Government, Mr Musibau Babatunde, and signed by the Special Adviser to the Governor on Media, Mr Suleiman Olanrewaju.

The state government had, on June 23, 2026, imposed a dusk-to-dawn curfew from 4:00 pm to 8:00 am on the affected local government areas as part of measures to address the prevailing security situation.

With the extension, the curfew, which was initially scheduled to last 48 hours, will now remain in force until Saturday, June 27, 2026.

The affected local government areas are Oriire, Orelope, Irepo, Saki West, Saki East, Atisbo, Itesiwaju, Iseyin, Olorunsogo and Atiba.

The government urged residents of the affected areas to continue cooperating with security agencies and to comply fully with the directive as efforts continue to safeguard lives and property.

This development follows the abduction of 39 students and seven ⁠teachers in an attack targeting several schools in Nigeria’s southwestern Oyo State in May.

The attack took place in ⁠Ahoro Esinele community in Oriire district, targeting a secondary school and two primary schools, according to officials. With over 40 days in captivity, all rescue efforts have so far not yielded results.

Mass ⁠kidnappings by armed groups have become a serious security challenge in Nigeria in recent years, with criminal gangs exploiting weak security to target travellers, students, and rural communities for cash payments. Schools are often targeted, although such ‌attacks ‌used to be rare in the southwest of the country.

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