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.

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.

By Aduragbemi Omiyale

To strengthen its financial position and demonstrate disciplined financial management and commitment, Transcorp Power Plc paid down over N7 billion in borrowings in 2025, according to its audited financial results for last year.

Business Post reports that this action reduced its total borrowings by 18.57 per cent to N30.7 billion from N37.7 billion as of December 2024.

This happened as the subsidiary of Transcorp Plc grew its revenue for the year by 30 per cent to N398.27 billion from N305.94 billion achieved in FY 2024, with the gross profit up by 14 per cent on a year-on-year basis to N162.44 billion from N142.21 billion, and the Profit After Tax (PAT) rising by 14 per cent to N91.42 billion from N80.01 billion in 2024, as the Earnings per Share (EPS) went up to N12.19 from N10.67 in 2024.

In the year, total assets jumped by 42 per cent to N563.48 billion from N396.78 billion in FY 2024, and total equity rose by 44 per cent to N183.40 billion from N126.63 billion.

It was observed that the impressive performance of the company was driven by an enhanced generation capacity, with saw the return of GT20, adding 100MW to the national grid from January 3, 2025, which significantly improved overall generation output.

“We remain dedicated to improving lives and transforming Africa, ensuring operational excellence and making strategic investments that deliver sustainable, long-term value to our shareholders, while also powering Nigeria’s socioeconomic development,” the chairman of Transcorp Power, Mr Emmanuel Nnorom, stated.

“The confidence in our financial position allows us to propose a full year dividend of N5.50 per share for 2025, comprising an interim dividend of N1.50 paid on August 18, 2025, and a final of N4.00k, representing a 10 per cent increase from the previous year’s dividend,” he added.

Also commenting, the chief executive of the power generation firm, Mr Peter Ikenga, said, “Our FY 2025 results reflect our steadfast commitment to operational excellence, sustainable growth, strategic market expansion and enhanced generation capacity, which continue to fuel significant revenue growth, enabling us to consistently generate power to the national grid. During the year, we increased our average available capacity from 417MW to 550MW and improved average generation output despite grid and transmission line-related issues.”

“Notwithstanding the network transmission line issues, our FY 2025 performance remained strong and reflects our steadfast commitment to operational excellence and sustainable growth.

“Our confidence in the future trajectory of Transcorp Power to deliver exceptional value to our shareholders remains unwavering. We will continue to work with relevant stakeholders, particularly Transmission Company of Nigeria (TCN), to strengthen the transmission lines and improve evacuation from our plant in 2026 and beyond,” he added.