General
Nigeria Secures Jindal’s Commitment in Natural Gas for $4bn Iron Steel Plant
By Adedapo Adesanya
Nigeria has secured a commitment from Jindal Group to offtake about 450 million metric standard cubic feet per day (MMscfd) of natural gas to support a $4 billion investment in a 10 million tonnes per annum Hot Briquetted Iron (HBI) Steel Plant.
This was disclosed by the Minister of State Petroleum Resources (Gas), Mr Ekperikpe Ekpo, who noted that the plant will be located at Ibom Solutions Hub Industrial Park (ISHIP), a free zone facility in Akwa Ibom State.
According to a statement, this project is expected to create thousands of jobs and position Nigeria as a regional powerhouse for industrialization and high-grade steel production.
The agreement was sealed after a meeting in New Delhi, India between Mr Ekpo and Jindal Group Chairman, Mr Naveen Jindal, with discussions underway to finalize the Gas Sales and Purchase Agreement (GSPA) for the supply of natural gas to the Indian firm.
As part of the agreement, ISHIP and Jindal have agreed to lease 300 hectares in the ISHIP for the project. ISHIP is a joint venture of NNPC Limited focused on housing heavy manufacturing companies in industries such as fertilizer, metal manufacturing, and petrochemicals.
During the meeting, Jindal expressed his company’s interest in investing in Nigeria due to the long history of cooperation between the two nations and his desire to support Nigeria’s drive for industrialization and economic growth.
He said Jindal Group’s interest in Nigeria stems from the country’s strategic position in Africa and its vast natural gas reserves, which are essential for producing high-quality steel using new technology.
Mr Ekpo, on his part, informed Jindal Group of the Federal Government’s commitment to providing an enabling environment for investors, including significant incentives to encourage and protect investments in the gas industry.
The Gas Minister assured Jindal Group of the safety and security of their investment, highlighting Nigeria’s conducive business environment and the government’s dedication to supporting the project’s successful takeoff and implementation.
Mr Ekpo also said the project aligns with President Bola Tinubu’s vision for Nigeria’s gas industry, even as he emphasized the need for open and constructive dialogue to attract more investments and secure a thriving future for the sector.
General
NPA Working to Eliminate Manual Bottlenecks, Synchronise Operations Across Seaports
By Adedapo Adesanya
The managing director of the Nigerian Ports Authority (NPA), Mr Abubakar Dantsoho, has said the organisation is in collaboration with the International Maritime Organisation (IMO) to deploy the Port Community System (PCS) will eliminate manual bottlenecks and synchronise operations across Nigeria’s seaports.
Mr Dantsoho disclosed this at a recent three-day high-level stakeholder engagement in Lagos titled Achieving a 7-day Cargo Dwell Time, organised by the Presidential Enabling Business Environment Council (PEBEC) in collaboration with the NPA.
The engagement convened the Ports and Customs Efficiency Committee (PCEC) under the Business Environment Enhancement Programme Accelerator (BEEPA) framework, focusing on streamlining port processes to improve efficiency and ease of doing business.
According to the NPA boss, the PCS will serve as the digital backbone of the National Single Window, enabling seamless information exchange among port stakeholders and reducing delays caused by manual documentation.
On her part, the director-general of PEBEC, Mrs Zahrah Mustapha, said the session was designed to go beyond identifying challenges and focus on implementing long-overdue practical solutions.
“Nigeria loses significantly every day due to operational inefficiencies,” Mrs Mustapha said. “These are not just numbers; they represent missed opportunities, jobs not created, and delayed economic growth. This reform is about resilience and unlocking the nation’s economic potential.”
She added that the initiative brings together government regulators and private-sector stakeholders to promote transparency and accountability, with the ultimate objective of reducing cargo dwell time and improving vessel turnaround time.
Recall that the NPA recorded a 100 per cent success rate in PEBEC reforms, ranking fifth among government agencies in 2025 with an 84.2 per cent compliance rating.
Outcomes from the stakeholder engagement are expected to be implemented in the coming months. By addressing operational gaps identified during port inspections, the NPA and PEBEC aim to build a more competitive maritime environment that attracts investment and facilitates seamless trade.
General
Swedfund Puts $15m into Phatisa for Sustainable Food Systems in Africa
By Modupe Gbadeyanka
The sum of $15 million has been invested in Phatisa Food Fund 3 by Swedfund to improve food security, support decent job creation, and contribute to more resilient and sustainable food systems across Africa.
Swedfund’s investment is part of an $86 million first close, together with development finance institutions BII, Norfund, IFC, and FinDev Canada.
The investment aims to improve food security, support decent job creation, and contribute to more resilient and sustainable food systems.
Phatisa will invest in companies seeking to grow or transition ownership, and building on its long track record in the sector, the investment is expected to support companies that can expand production capacity, enhance efficiency and create more stable employment in local and regional markets.
Africa’s food systems are under increasing pressure from population growth, climate impacts, and fragmented value chains. Enhancing production, processing, and distribution is essential to ensure food becomes more accessible and affordable, while strengthening livelihoods.
“Strengthening food systems is essential for inclusive and resilient growth across African markets. Through this investment, we help channel long-term capital to companies that can expand production, support decent jobs, and improve access to affordable and nutritious food.
“The investment also contributes to deeper value chain integration, supporting more stable and sustainable livelihoods over time,” the Investment Manager for Food Systems at Swedfund, Sebastian Süllmann, stated.
Phatisa Food Fund 3 focuses on established companies across the food value chain in multiple African markets.
General
Protest in Abuja Over Senate’s Decision on e-Transmission of Election Results
By Adedapo Adesanya
Some protesters on Monday took over the streets of Abuja to register their displeasure over the Senate’s decision to reject the real-time transmission of election results.
The demonstrators have promised to Occupy National Assembly despite a heavy security presence at the parliament, with personnel drawn from the Nigeria Police Force, the Nigerian Army, and the Nigeria Security and Civil Defence Corps.
Although the Senate has issued several clarifications over reports that it rejected electronic transmission of results, the protesters insist that lawmakers must be explicit by including the phrase “real-time electronic transmission” in the proposed legislation.
Members of civil society organisations, a handful of opposition African Democratic Congress (ADC) members, and some women’s groups are gathered at the entrance of the National Assembly for the protest.
The Nigeria Labour Congress (NLC) on Sunday joined the call on the Senate to legalise the real-time transmission of election results, warning that the National Assembly’s refusal to make the provision law would lead to workers’ mass action.
Amid these threats, the Senate will hold an emergency plenary session on Tuesday, February 10, 2026.
In a notice sent by the Clerk of the Senate, Mr Emmanuel Odo, the lawmakers were directed to convene at the National Assembly complex on the instruction of Senate President Godswill Akpabio.
“I am directed by His Excellency, the President of the Senate, Distinguished Senator Godswill Obot Akpabio, GCON, to inform all Distinguished Senators of the Federal Republic of Nigeria that an Emergency Sitting of the Senate has been scheduled to hold as follows: Date: Tuesday, 10th February, 2026. Time:12:00 Noon. Venue: Senate Chamber,” the notice read.
Mr Odo urged all senators to attend the emergency sitting.
“All inconveniences this will cause to Distinguished Senators are highly regretted, please,” the memo read.
No reason was stated for the meeting, but the development comes amid debates about the e-transmission of election results after the Electoral Act amendment bill passed the third reading at the Senate. The lawmakers had adjourned plenary after that.
Clause 60 (30) of the Electoral Amendment Bill is connected with the electronic transmission of results. On Wednesday, the Senate retained the provision for the electronic transfer of results as contained in the 2022 Electoral Act.
The Upper Chamber rejected moves for the real-time transmission of results and a 10-year ban on vote-buyers and instead retained the sanctions of jail terms and fines.
Since the development, the Senate has come under fire. However, some of its members have clarified that the bill enjoyed the support of a majority of the senators.
Besides the e-transmission issue, the Senate also blocked the download of electronic voters’ cards from the INEC website, reduced the notice period for elections from 360 to 180 days, and cut the timeline for publishing the list of candidates from 150 to 90 days.
The Senate’s position on the transmission of election results contrasts with that of the House of Representatives. However, both chambers have set up conference committees to harmonise their differences, after which a clean copy will be transmitted to the President for assent.
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