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Access Power Unveils ACF 2017 Competition

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Access Power Unveils ACF 2017 Competition

Access Power Unveils ACF 2017 Competition

By Dipo Olowookere

Access Power, a developer, owner and operator of power projects in emerging markets and a Power Africa partner, today announced the launch of ACF 2017, the third edition of the highly successful funding and support platform for renewable energy projects in Africa.

The official opening of the submissions process was announced today at the Power Africa Annual Partners Meeting in Washington.

Now in its third year, the ACF is an innovative $7 million financial support mechanism designed to provide local power project developers and originators with project development support, technical experience, expertise and funding required to bring their renewable energy projects to life.

ACF 2017 aims to further build on the success of the previous two years where a total of five projects passed the final round of selection and three projects successfully executed joint development agreements with Access Power. This year’s finalists will once again be evaluated and scored by an independent panel of industry experts comprised of senior representatives from Power Africa, InfraCo Africa, Proparco, the Dutch Development Bank (FMO) and Access Power who will provide Access Power with recommendations on the commercial, technical, social and environmental viability of each project based on a host of market, regulatory, environmental and economic factors.

The winners of ACF 2017 will be announced during a live final evaluation panel on June 7, 2017 during the Africa Energy Forum in Copenhagen.

The top three finalists will subsequently enter into direct Joint Development Agreement (JDA) discussions with Access Power.

Once these are successfully concluded, Access Power will take an equity stake in those projects and commence independently funding their third-party development costs such as feasibility studies, grid studies, environmental and social impact assessments and due diligence fees

Reda El Chaar, Executive Chairman, Access Power commented, “As a Power Africa partner ACF will draw on a wider communication platform – enabling us to reach a bigger network of innovative and pioneering entrepreneurs across Africa with the opportunity to develop their ambitious ideas into tangible projects.”

“Last year was another highly successful year for the competition as we received nearly 100 submissions from over 25 countries across the full spectrum of renewable technologies, a 75 percent increase on the previous edition. This is a chance to shine a spotlight on ideas and showcase talent. We are delighted to see the competition develop as word spreads about the possibilities it can bring.”

Power Africa is a U.S. government-led initiative coordinating 12 U.S. government agencies and a diverse coalition of more than 140 public and private sector partners, including bilateral and multilateral development partners.

Power Africa Coordinator Andrew Herscowitz stated, “The ACF is an exciting concept, and we are delighted to see Access Power’s efforts to transform power delivery and access across Africa. The ACF demonstrates how Power Africa’s private sector partners are working to help accelerate progress towards our shared goals of increasing new electricity generation capacity and increasing household and business connections in Sub-Saharan Africa.”

The ACF 2017 application form and guidelines are available on Access Power website www.Access-Power.com

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via dipo.olowookere@businesspost.ng

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Supreme Court Affirms Ahmad Lawan as APC Yobe North Senatorial Candidate

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Ahmad Lawan Bashir Machina

By Dipo Olowookere

The president of the senate, Mr Ahmad Lawan, has been affirmed as the candidate of the ruling All Progressives Congress (APC) for the Yobe North Senatorial District.

At a ruling delivered on Monday, February 6, 2023, the Supreme Court nullified the candidacy of Mr Bashir Machina.

Mr Machina and Mr Lawan had been at loggerhead over the party’s ticket for the slot.

The Senate President had contested the APC presidential primary along with the eventual winner of the exercise, Mr Bola Tinubu, and was said to have pushed forward Mr Machina as a placeholder.

However, after he lost in his bid to become the presidential candidate of the party, he turned to Mr Machina, who refused to back down, stressing that it was his turn to represent the senatorial district at the National Assembly and that the Senate President never participated in the party’s primary.

The number three citizen of the country had earlier accepted his fate, but his party took the matter up until today’s judgement, which has restored his hopes of remaining in the upper chamber of the parliament.

Justice Centus Nweze, in the lead judgement, faulted the approach of Mr Machina in commencing the suit at the Federal High Court Damaturu division by way of originating summons and without oral evidence to prove allegations of fraud.

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Boss Mustapha Not Working Against Tinubu—APC Group

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Boss Mustapha

By Modupe Gbadeyanka

A support group of the ruling All Progressives Congress (APC) known as the APC Mandate Defenders (AMD) has denied claims that the Secretary to the Government of the Federation (SGF), Mr Boss Mustapha, was working against the presidential candidate of the party, Mr Bola Tinubu.

In a statement signed by the National Publicity Secretary of APC Mandate Defenders, Mr Ifeanyi Emeka, the organisation said Mr Mustapha supports the candidacy of the former Governor of Lagos.

He stated that the allegations made against the SGF by another support group of the ruling party, Concerned APC Stakeholders (CAS), were false, describing Mr Mustapha as a well-respected party leader who has great respect and close relationship with Mr Tinubu right from when he was the Deputy National Chairman of the defunct Action Congress of Nigeria (ACN) for Northern Region and would not engage in any real or imaginary plot to sabotage the electoral chances of the APC and its candidate.

According to him, the SGF is preoccupied with the task of meeting the demands of the transitional period, which mostly rests on his office as a frontline secretariat for the presidency as the administration gradually winds down and does not have the time to work against Mr Tinubu.

AMD asked CAS to tell Nigerians how following due process in board appointments for federal government agencies amounts to sabotaging the electoral chances of the party and its candidate in the forthcoming presidential election.

Recall that the SGF had advised Nigerians to be wary of scammers who use his name and office to dupe people while promising them non-existing government appointments.

“Therefore, we urge Nigerians and party members across the federation to ignore the allegation against Boss Mustapha as he cannot be forced into providing appointments to people by threats of blackmails as such responsibility rests squarely on the desk of Mr President and Commander-in-Chief.

“Associating such frustration with the campaigns of the presidential candidate of our great party, Senator Bola Tinubu, by CAS is a diversionary tactic against the overall interest of our party and Nigeria as a nation,” a part of the statement said.

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Violent Protest Erupts in Ibadan Over Naira Scarcity

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protest in Ibadan

By Aduragbemi Omiyale

There are reports of a violent protest in Ibadan, the Oyo State capital, over the scarcity of old and new Naira notes, Business Post has gathered.

It was learned that residents of the ancient city are venting their anger over the hardship caused by the policy of the Central Bank of Nigeria (CBN) and the federal government.

The central bank redesigned the N200, N500, and N1,000 notes and asked citizens to return their old banknotes because they would cease to be legal tender.

However, since the introduction of the new currency notes in circulation on December 15, 2022, many Nigerians have not been able to withdraw their money from banks, fuelling anger in the land.

On Friday afternoon, some residents of Ibadan, especially in Iwo Road, took to the streets to express their frustration at the development, which is coming at a time consumers have to queue for petrol.

They had bonfires on the road and disrupted business activities in some areas of the city.

Recall that today, the Governor of Oyo State, Mr Seyi Makinde, announced the suspension of his campaign activities over the scarcity of Naira and fuel.

Also on Friday, the Governors of the ruling All Progressives Congress (APC) met with President Muhammadu Buhari to appeal to him to change his mind on the Naira swap policy because of the effect on the people and the 2023 general elections starting later this month.

The President had earlier been asked not to show up in Kano State because of fears of a violent protest over the development. After the deadline was moved forward, the Governor of the state, Mr Abdullahi Ganduje, said he was safe to visit the ancient city.

However, during his visit to Kano, there were reports of a demonstration, with a chopped stoned by some residents of the state and convoys attacked by angry protesters.

The government claimed the protest was not directed at President Buhari, while the opposition party, Peoples Democratic Party (PDP), said otherwise.

protest in Ibadan

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