General
$23m Abacha Loot: SERAP Demands Copy of Agreement With US
By Adedapo Adesanya
The Socio-Economic Rights and Accountability Project (SERAP) has demanded a copy of the agreement signed between the United States and Nigeria over the return of over $23 million of the money looted by the late dictator, General Sani Abacha.
Last Tuesday, Nigeria and the United States reached an agreement on the return of over $23 million of the Abacha loot.
Five days after, the rights group wrote a letter to President Muhammadu Buhari, asking him to “direct the Attorney-General of the Federation and Minister of Justice, Abubakar Malami (SAN) to provide our organization with a copy of the agreement the Federal Government recently signed with the United States for the repatriation of $23 million stolen by late General Sani Abacha.”
In the letter dated August 27 and signed by SERAP deputy director, Mr Kolawole Oluwadare, the group said its demand is based on the provisions of the Freedom of Information Act, the 1999 Constitution as well as some international obligations Nigeria is meant to follow.
“By the combined reading of the Nigerian Constitution 1999 [as amended], the Freedom of Information Act, and the country’s international obligations, there are transparency obligations imposed on your government to widely publish the agreement on the $23 million Abacha loot,” the letter read in part.
“The Nigerian Constitution, Freedom of Information Act, and the country’s anti-corruption and human rights obligations rest on the principle that citizens should have access to information regarding their government’s activities.”
SERAP argued that the current administration has a responsibility to ensure transparency and accountability in how any repatriated stolen funds are spent, to reduce vulnerability to corruption and mismanagement.
It also asked President Buhari to provide details of the transparency and accountability mechanisms that have been put in place to ensure that the repatriated funds are not mismanaged, diverted, or re-stolen.
“We would therefore be grateful if the recommended measures are taken within seven days of the receipt and/or publication of this letter. If we have not heard from you by then, SERAP shall take all appropriate legal actions to compel your government to comply with our request in the public interest.
“Publishing a copy of the agreement signed with the US would also promote transparency and accountability in the spending of public funds. Nigerians are entitled to their constitutionally and internationally recognized human right to information.”
“Publishing a copy of the agreement would ensure that persons with public responsibilities are answerable to the people for the performance of their duties including the management of repatriated loot,” SERAP added.
According to the group, the Freedom of Information Act, Section 39 of the Nigerian Constitution, article 9 of the African Charter on Human and Peoples’ Rights, and article 19 of the International Covenant on Civil and Political Rights guarantee everyone the right to information, including to a copy of the agreement on the repatriated $23 million Abacha loot.
The letter was copied to Mr Abubakar Malami.
By Adedapo Adesanya
Nigeria is targeting that solar power will account for 50 per cent of the power generation mix by 2029, according to the Rural Electrification Agency (REA).
According to REA’s managing director, Mr Abba Abubakar Aliyu, solar power generation has risen dramatically in the last few years to about 20 per cent of Nigeria’s electricity supply.
He said this could further reach 50 per cent by 2029 if current deployment and private-sector partnerships continue, speaking during the just-concluded 25th Nigerian Oil and Gas (NOG) Energy Week in Abuja on Thursday.
Mr Aliyu, during an energy panel titled Re-Engineering Africa’s Power Market – Driving Reliable Energy Systems, said solar’s share of national generation has risen rapidly, and that sustained momentum would push it toward half of the country’s power mix within the next three years.
Mr Aliyu said the growth was driven by increasing deployment and stronger collaboration with private investors.
“Solar currently constitutes 20 per cent of the nation’s total generation capacity, and with the pace of deployment we are seeing, it is closing in on 50 per cent,” he projected.
The REA chief told delegates that Nigeria was shifting from being primarily a consumer of clean-energy equipment to becoming a regional supplier of renewable technology.
He said manufacturers in the Lagos–Sagamu industrial corridor were building capacity to meet demand across West Africa.
Mr Aliyu said Lagos-made solar photovoltaic (PV) panels were already being exported to neighbouring countries.
He added that a pipeline of about 3.7 gigawatts of PV manufacturing capacity was under development to support further expansion.
“If you go to the Lagos–Sagamu axis, you will see manufacturing companies coming up,” he said.
He, however, noted that despite the rapid expansion in solar deployment and local manufacturing, he clarified that conventional gas-fired thermal plants would remain necessary to stabilise Nigeria’s electricity grid.
He joined other panellists to advocate for a dual-track investment strategy that would continue to expand solar generation and domestic manufacturing while also maintaining and upgrading gas-fired plants.
By Adedapo Adesanya
The National Pension Commission (PenCom) is developing a new investment vehicle that would channel part of Nigeria’s $22 billion pension assets into critical infrastructure projects, providing long-term financing for roads, railways, energy and healthcare.
The proposal was disclosed by PenCom spokesman, Mr Ibrahim Buwai, who said the initiative is expected to be launched later this year as the commission explores ways to mobilise pension assets for national development while protecting contributors’ savings.
Mr Buwai said the regulator is promoting the creation of a special-purpose investment vehicle that would allow pension assets from different fund managers to be pooled for financing commercially viable infrastructure projects.
“We are encouraging the setting up of a vehicle, kind of special purpose vehicle, where resources can be pooled, so that viable infrastructure projects can be looked at,” he said, explaining that the proposed fund is designed to balance national development with the interests of pension contributors by targeting investments capable of delivering returns that outperform inflation.
He noted, however, that participation will remain at the discretion of individual Pension Fund Administrators, while the final size of the investment vehicle is yet to be determined.
The proposal also comes as pension investments in infrastructure continue to expand. Latest data published by PenCom show that investments through infrastructure funds climbed by 38 per cent year-on-year to N318 billion (about $230 million) as of May 2026, reflecting growing interest among pension managers in long-term infrastructure assets.
The proposed infrastructure vehicle aligns with PenCom’s broader strategy of increasing the role of pension assets in Nigeria’s capital market and unlocking what it describes as the industry’s largest pool of long-term passive investment capital.
The initiative follows a period of strong growth in the pension industry, with Nigeria’s total pension assets rising to a record N31.32 trillion in May 2026 despite challenging economic conditions.
PenCom has also intensified efforts to strengthen compliance within the pension system. Working with the Independent Corrupt Practices and Other Related Offences Commission (ICPC), the commission recently recovered more than N3 billion in outstanding pension contributions that employers had failed to remit on behalf of workers.
By Modupe Gbadeyanka
The Nigeria Agricultural Quarantine Service (NAQS) has asked to be integrated into the B’Odogwu platform of the Nigeria Customs Service (NCS).
This call was made by the head of NAQS, Mr Vincent Isegbe, during a meeting with the Comptroller-General of Customs, Mr Adewale Adeniyi, in Abuja on Wednesday.
Mr Isegbe, who used the visit to congratulate Mr Adeniyi on the extension of his tenure as Chairperson of the World Customs Organisation Council, which he described as recognition of his dedication and leadership, praised what he called an excellent working relationship with Customs.
He outlined areas for closer partnership, including integrating NAQS into Customs’ B’Odogwu platform, joint enforcement operations, and coordinated efforts to detect fake certification and fraudulent documentation.
In his remarks, Mr Adeniyi commended his guest for the partnership, promising that NAQS will provide technical support for the new Customs laboratory.
According to him, this is one of the avenues to deepen collaboration between the two agencies on intelligence sharing, trade facilitation and national security.
He informed Mr Isegbe that his organisation was moving to harmonise inspection procedures across the country’s ports and border stations, a step he described as critical to promoting consistency, transparency and efficiency in cargo clearance nationwide.
He also stated that customs training facilities would be opened up to NAQS officers as part of a broader capacity-building push.
“We must expose our officers to the broader concept of national security. Border management goes beyond revenue collection,” Mr Adeniyi said, stressing that Customs sees itself as the anchor institution coordinating Nigeria’s multi-agency border protection efforts.
