General
2023 Election Results: Obasanjo Trying to Instigate Violence—Shettima

By Aduragbemi Omiyale
Former President Olusegun Obasanjo has been knocked by the National President of the Arewa Youth Consultative Forum (AYCF), Mr Yerima Shettima, over his letter condemning the 2023 presidential election results.
In a letter released on Monday evening, Mr Obasanjo asked President Muhammadu Buhari to address the nation on the irregularities observed in the exercise conducted by the Independent National Electoral Commission (INEC).
There had been calls for INEC to suspend the coalition of results from the presidential election carried out on Saturday, February 25, 2023.
But in a response on Tuesday morning, Mr Shettima carpeted the former Nigerian leader, claiming he does not have the moral standing to even advise the nation owing to his antecedents.
The group accused Mr Obasanjo of trying to instigate violence, saying the former president’s position did not show him as a statesman and should be disregarded. AYCF also advised him to learn from other former presidents who have remained true statesmen.
“Our attention has been drawn to viral news in which otherwise elder statesmen are working hand-in-hand with politicians who are afraid of defeat in the 2023 elections to overheat the polity and eventually destabilize this nation.
“We are appalled by the level of incendiary comments, designed to deliberately ignite violence in the name of promoting free and fair elections.
“Consequent upon this emerging threat, we wish to state for the records that:-
“We have had enough of mindless killings in defence of the personal interest of grabbing power by any politician through the back door. We don’t support any resort to sponsored violence and arson in this country just because some politicians are trying to mislead our youth to assume their personal political interest amounts to the national interest.
“We wish to implore Nigerian youths never to allow themselves to be used as cannon fodder for unpatriotic elements, who are masquerading as democrats.
“We are watching very closely the activities of agent provocateurs, operating from the shadows, with the sole aim of creating regional and religious sentimentalism, meant to lead to massive killings of innocent souls in the name of politics. Let anyone not be deceived by their strategy against national unity and cohesion, the two important pillars of peace and brotherhood in today’s Nigeria.
“We were taken aback by the so-called letter of former President Obasanjo, making provocative statements, in his usual manner of pretending to be addressing our current challenges in the 2023 elections.
“It is worrisome that the former President is often the only one taking dangerous, narrow-minded stance on any political situation in Nigeria. We have had his contemporaries like General Ibrahim Babangida, General Abdussalam Abubakar — who is now one of the most outstanding, exemplary promoters of national peace and stability.
“We should not forget that apart from the historic move to keep Nigeria one, when the nation was on cliff-hanger, General Yakubu Gowon will forever be remembered as the champion of national prayers for peace and stability.
“Another elder statesman of respectable standing is former President Goodluck Jonathan, the youngest of them all, who has maintained his respect by not being openly partisan.
“Many Nigerians would have by now been disappointed by former President Obasanjo’s decidedly partisan activities. From his Third Term Agenda that we Nigerians all fought against to a long list of “Letters” that have lacked the power to positively change anything, the man is slowly losing his elder statesman status. He is on record for identifying with a candidate for a national election and offered to be the prime mover of what has now become a destabilizing political aspiration of his proxy in the 2023 elections. This unstatesmanly imposition is unfortunate.
“We call on all Nigerians of good conscience to intervene in the concerted efforts to promote national peace and stability, especially in this cooling-off period of general elections. We cannot afford to compromise on the ligaments binding us together in brotherhood and nationhood after 60 years of independence.
“The current democracy would not have been possible without the massive contribution of the youth and we will not fold our arms and watch selfish interests deployed in using the same youth to truncate democracy and destroy the flowering of our National ethos.
“We, therefore, warn again that Nigeria is not a banana republic,” the statement said.
General
Nigeria, Angola, Ghana Fulfil Capital Commitments to Africa Energy Bank

By Modupe Gbadeyanka
The trio of Nigeria, Angola, and Ghana has fulfilled their capital commitments toward establishing the Africa Energy Bank (AEB) in what is seen as a significant development for Africa’s energy sector.
The AEB aims to finance oil and gas projects across the continent, addressing funding challenges posed by traditional Western financial institutions’ reluctance to support fossil fuel initiatives due to environmental concerns.
Recall that the African Petroleum Producers Organization (APPO) requires that to operate the financial institution, members must get 44 per cent of the capital base of $5 billion.
Each of the 18 members of the group is required to provide at least $83 million and beyond Nigeria, Angola and Ghana, five additional member states – Algeria, Benin, the Republic of Congo, Equatorial Guinea and Ivory Coast – have pledged to make their payments, aligning with the bank’s goal to commence operations in the first half of 2025.
The AEB aims to finance oil and gas projects across the continent, addressing funding challenges posed by traditional Western financial institutions’ reluctance to support fossil fuel initiatives due to environmental concerns.
At the Congo Energy and Investment Forum last week, the Secretary General of APPO, Mr Omar Farouk Ibrahim, said the move to kick-off the bank, which is headquartered in Abuja, Nigeria, is progressing.
AEB is a strategic response to Africa’s need for dedicated financial institutions that understand the continent’s unique energy landscape.
By providing tailored financing solutions, the bank is poised to accelerate energy project development, enhance energy security and drive economic growth.
As more countries contribute their capital shares, the bank is expected to play a pivotal role in unlocking investment, bridging financing gaps and ensuring sustainable energy expansion across Africa.
Nigeria remains sub-Saharan Africa’s largest oil producer, offering significant opportunities in the oil and gas sector, including a 2025 bid round.
The implementation of the Petroleum Industry Act has introduced regulatory reforms to enhance transparency and attract investment, driving major projects forward.
Recent final investment decisions (FIDs) include TotalEnergies’ $550 million Ubeta Gas Field Development and Shell’s $5 billion Bonga North Project, yet additional financing is crucial to advancing Nigeria’s gas agenda and unlocking its full potential in the energy transition.
Angola, on its part, is actively diversifying its energy portfolio while advancing major deepwater developments, including TotalEnergies’ $6 billion Kaminho Deepwater Project, Eni’s Agogo Integrated West Hub and a limited public tender, with a long-term goal of increasing production to 2 million barrels per day.
Ghana is strengthening its position as a leading oil and gas player with new commitments from Eni and Tullow Oil. In March, Eni and the Ghana National Petroleum Corporation signed an agreement to enhance offshore exploration, optimize existing assets and advance untapped reserves.
General
Tinubu Congratulates Jim Ovia on Freedom of the City of London Admission

By Modupe Gbadeyanka
The Chairman of Zenith Bank Plc, Mr Jim Ovia, has been congratulated on his admission to the Freedom of the City of London.
The retired banker was congratulated by President Bola Tinubu in a statement signed by his Special Adviser on Information and Strategy, Mr Bayo Onanuga.
President Tinubu described the honour as a fitting recognition of Mr Ovia’s exceptional contributions to business, innovation, and technology, as well as for his role in shaping Nigeria’s financial landscape and strengthening economic ties between Africa and the rest of the world.
“This honour is a testament to your unwavering commitment to excellence, your pioneering role in the growth of the financial services sector in Nigeria, and your visionary leadership that continues to inspire generations.
“As an accomplished entrepreneur and advocate of innovation-driven development, your recognition in the City of London affirms the global relevance of Nigerian excellence and enterprise,” Mr Tinubu stated, commending the Zenith Bank chairman for being a distinguished ambassador of the nation’s private sector and wished him continued success in his endeavours.
Admission to the Freedom of the City of London is an honour bestowed on individuals either for their service to the city or for their achievements.
General
Lagos to Establish Waste Material Recovery Facility in Badagry

By Adedapo Adesanya
The Lagos State Government is setting up a material recovery facility at Badagry to boost waste management.
The chief executive of the Lagos State Waste Management Authority (LAWMA), Mr Muyiwa Gbadegesin, said this initiative was part of efforts to reduce waste pollution and promote a circular economy.
According to him, LAWMA will close the Olusosun dumpsite at Ojota and other dumpsites to pave the way for the establishment of the facility and other waste-to-energy plants in the metropolis, noting that the construction of the material recovery facility will take about 15 months.
“When we close the dumpsites, we will divert the waste to a material recovery facility at Badagry. We will extract all the biogas to generate electricity and cover the waste.
“In the case of Olusosun, we are looking at working with industrial facilities at the back of the dumpsite, which can use the gas to power their generators,” he said.
Mr Gbadegesin said the state government was partnering with some investors to establish the waste-to-energy plants in strategic places.
“We are planning a biogas facility, we completed the feasibility study last year in partnership with the Swedish Government.
“Sweden has achieved zero waste because it takes up its sewage and organic waste and uses them to produce biomethane in large quantities.
“If they can do it, we can. We are planning to replicate the Swedish model here.
“Out of the 13,000 tonnes of waste generated daily in Lagos State, 6,500 tonnes are organic, which should not be going to landfills.
“We should be able to use the organic waste to produce compost for greenery and agriculture and also to produce biomethane,” he informed the News Agency of Nigeria (NAN) in an interview in Lagos.
Mr Gbadegesin said the feasibility study for the biogas facility was done by LAWMA in partnership with the Lagos State Metropolitan Area Transport Authority (LAMATA), adding, “It will be bringing in 2,000 compressed natural gas-powered buses. Once the biogas plant is completed, they will be using it.”
He noted that LAWMA was in partnership with a Dutch company to generate electricity through waste.
“We want to set it up at Epe. We have closed the landfill at Epe to set up the waste-to-energy plant. This will be set up in partnership with a private investor, a Dutch company, Harvest Waste.”
Mr Gbadegesin said that the Dutch company would support the setting up of the plant to the tune of 100 million euros.
According to the managing director, the plant would take about 2,500 tonnes of waste daily and produce 60 to 80 megawatts of electricity.
“From the development, we are moving to another level. It gives us hope that if we put our minds to development, we can be the best,” he said.
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