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AfDB Develops Mechanism for Revenue Generation in Extractive Industry

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Extractive Industry

By Adedapo Adesanya

The African Development Bank (AfDB) has developed a three-year project in response to demands by member countries for technical assistance to monitor revenues generated from their extractive industries.

The AfDB made this known during a virtual inception workshop for the Financial Modelling Project in the Extractive Sector (FIMES) organised by the African Natural Resources Centre (ENRC) of the bank in Abidjan, Cote d’Ivoire.

According to the project report, FIMES will be implemented in eight transitional countries – Guinea, Liberia, Mali, Madagascar, Niger, Sierra Leone, South Sudan and Zimbabwe from 2020 to 2022.

The project, which is the first of its kind for the bank, is aimed at enhancing the abilities of the focal countries to improve domestic resource mobilisation from the extractive sectors.

Presenting the background information on the FIMES project, Mrs Vanessa Ushie, Division Manager, Policy Analysis, (ENRC, AfDB) said the project was aimed at the overall economic resilience of the continent.

Mrs Ushie also said that the scheme would build the capacity of government institutions to elaborate and use financial modelling of extractive projects to inform strategy setting and negotiate contracts and concessions.

She said: “20 government officials in each beneficiary member country will participate in the training, learning and knowledge activities as national beneficiaries, that is, 180 officials in the eight countries.

“Set criteria for selection of beneficiaries in the national cohort to include relevance to primary job function on extractive revenue management, knowledge of extractive sector fiscal issues’ potential multiplier effects (trainer-of-trainers approach) and IT proficiency.

“The project commits to at least 40 per cent of beneficiaries in the eight countries to be women.

“National Focal Point (NFP) main coordinating actor in each beneficiary country must be nominated by the national government to play this role.’’

She said the NFPs coordinate the national government’s engagement on the project, interface with the AfDB and other stakeholders and manage the selection of project beneficiaries.

Mrs Ushie added that the project components would focus on capacity building, peer learning and knowledge exchange, and FIMES’ Virtual Knowledge Hub.

In his contribution, Mr Yero Baldeh, Director, Transitional States Coordination Office, AfDB said the project was “competitively selected from the 2019 proposals’’.

He said the selection was done with a view to building capacity for the financing model and in turn, strengthen domestic resource mobilisation, institutional capacity and resilience in the selected transition member countries.

“The goal is to improve efficiency, sustainability and employer management practices in the artisanal and small scale mining sector in the selected transition countries.

“Through this project, the bank is strengthening the human capacity of government regulatory agencies among others to facilitate the formalisation of artisanal and small scale mining to generate employment and improve economic scales of several stakeholders, especially those along the artisanal and small scale mining value chain.’’ He added.

He reaffirmed the bank’s commitment to collaborate with member countries and its centre to proactively set up joint efforts to increase inclusiveness and accelerate development and support for policy reforms in the extractive sector.

In another contribution, Mrs Marie-Laure Akin-Olugbade, Director-General, West Africa Region, AfDB said the project would help the capacity of member governments to use financial modelling for optimising revenues from the extractives sector.

“This is a priority of the bank and is part of the strategy of the bank in putting together policies to strengthen resource mobilisation, industrialisation and the development of infrastructure,’’ she said.

Mr Akin-Olugbade noted that the Covid-19 pandemic had affected economies of member countries severely, and added that governments needed to strengthen economic resilience in order to recover.

Also, Mrs Josephine Ngure, Acting Director-General, Southern Africa Region, AfDB, said it was important for countries to have a robust and evidence-based framework to process the impact of policy decisions on extractives projects.

Mrs Ngure, who was represented by Mr Pietro Toigo, Country Manager, AfDB Office in Mozambique, added that countries should estimate the amount to which they secure fair shares of resources over the course of the project.

“This is particularly important because robust modelling gives you a sense of the impact over the whole lifespan of a project and helps policymakers not to concentrate on short term gains that may impair the ability of the state to generate revenue in the future,’’ he said.

She called for coordination and leadership across the departments in ministries that were charged with the various aspects of extractive projects.

However, Mrs Nnenna Nwabufo, Acting Director-General, East Africa Region, AfDB, lamented that most African countries exported extractive resources as raw materials with little value-added.

She noted that exportation of raw mineral resources was not beneficial to the sustainable economic development of the continent.

“We look forward to FIMES leading to increased transparency and accountability in the management of financial gains for the benefits of the countries rather than personal agenda of individuals or political interest groups,’’ she said.

She added that there was also the need to create an enabling environment that fostered linkages between projects in the extractives industry and the broader economy thereby contributing to inclusive and sustainable development.

The Director then called on the bank and it’s development partners to support member countries to build strong democratic institutions.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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Military Confirms Attempt to Overthrow Tinubu, to Arraign Coup Plotters

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Tinubu address nation

By Aduragbemi Omiyale

The Nigerian military on Monday, January 26, 2026, confirmed that some of its personnel actually attempted to overthrow the government of President Bola Tinubu in October 2025.

It was earlier speculated that the October 1 parade last year was abruptly cancelled due to an alleged attempt to remove Mr Tinubu from office by some members of the Armed Forces of Nigeria (AFN), with 16 persons arrested over the issue.

Providing an update on the matter today, the Director of Information for the Defence Headquarters in Abuja, Major General Samaila Uba, said investigations have “identified a number of the officers with allegations of plotting to overthrow the government” and would be “formally arraigned before appropriate military judicial panel to face trial.”

“It would be recalled that the  Defence Headquarters issued a press statement in October 2025 regarding the arrest of sixteen officers over acts of indiscipline and breaches of service regulations. The Armed Forces of Nigeria (AFN) wishes to inform the general public that investigations into the matter have been concluded and the report forwarded to appropriate superior authority in line with extant regulations.

“The comprehensive investigation process, conducted in accordance with established military procedures, has carefully examined all circumstances surrounding the conduct of the affected personnel. The findings have identified a number of the officers with allegations of plotting to overthrow the government which is inconsistent with the ethics, values and professional standards required of members of the AFN.

“Accordingly, those with cases to answer will be formally arraigned before appropriate military judicial panel to face trial in accordance with the Armed Forces Act and other applicable service regulations. This ensures accountability while upholding the principles of fairness and due process.

“The AFN reiterates that measures being taken are purely disciplinary and part of ongoing institutional mechanisms to preserve order, discipline and operational effectiveness within the ranks. The Armed Forces remain resolute in maintaining the highest standards of professionalism, loyalty and respect for constitutional authority,” the statement read.

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CNPP, CSOs Describe Rivers Crisis as National Democratic Emergency

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CNPP CSOs, Rivers Crisis National Democratic Emergency

By Modupe Gbadeyanka

President Bola Tinubu has been called upon to resolve the escalating political crisis in Rivers State, warning that the situation now constitutes a “national democratic emergency” requiring urgent presidential intervention.

This call was made by the Conference of Nigeria Political Parties (CNPP) and the Coalition of National Civil Society Organisations (CNCSOs).

“Mr President, this is no longer just a Rivers State issue. It is a national democratic emergency,” the organisations declared in a joint statement, stressing that what is unfolding in the state “goes far beyond local politics” and represents “a critical test of Nigeria’s commitment to constitutional governance, separation of powers, and democratic stability.”

The CNPP and CNCSOs warned that failure by the President to act decisively could legitimise what they termed “legislative anarchy” and embolden similar crises across the federation. According to them, “failure to act now risks legitimising legislative anarchy and encouraging similar crises across other states, with dire consequences for national unity and peace.”

They described the Rivers State situation as a deliberate political project rather than a governance issue, insisting that Governor Siminalayi Fubara has not committed any constitutional offence warranting impeachment.

“Let us be clear,” they said, “Governor Siminalayi Fubara has not committed any act that meets the constitutional threshold for impeachment under Section 188 of the 1999 Constitution, as amended. There is no credible allegation of gross misconduct, no paralysis of governance, and no popular uprising demanding his removal.”

According to the groups, the ongoing impeachment threats reflect “the weaponisation of a State House of Assembly as an instrument of political conquest rather than a guardian of democracy,” a development they warned is “not only reckless; it is extremely dangerous to Nigeria’s national peace.”

They cautioned President Tinubu that if the Rivers State model is allowed to persist, Nigeria could slide into a destabilising era where legislatures are used to unseat elected governors for political and financial control. “If the Rivers State template is allowed to stand,” they warned, “then Nigeria risks sliding into a future where state assemblies across the country become battlegrounds for elite power struggles.” They further asked pointedly: “If every governor becomes vulnerable to impeachment at the whim of external political forces, where then is the sovereignty of the people? Where does democratic stability reside?”

The CNPP and CNCSOs also drew the President’s attention to allegations of conditional political settlements linked to the crisis. They cited claims by loyalists of Governor Fubara that the Minister of the Federal Capital Territory, Nyesom Wike, imposed conditions on the governor in exchange for halting impeachment proceedings. “Chief among these alleged conditions,” they said, “was the immediate ratification of a commissioner list reportedly submitted by the FCT Minister upon Governor Fubara’s return to office.”

“These allegations,” the groups added, “strongly suggest that the crisis is not about governance or accountability but about control—control of federal allocations, control of internally generated revenue, and control of political power in Rivers State.” They warned that such claims “strike at the heart of democratic governance and must not be ignored by the Nigerian state.”

On financial matters, the organisations appealed to President Tinubu to order a thorough probe into funds received and expended during the six-month emergency rule in Rivers State. They disclosed that the state “reportedly received no less than N254.37 billion from the Federation Account Allocation Committee between March and August 2025,” averaging about N42.40 billion monthly. They alleged that despite a probe announced by the House of Assembly, there were “strong indications” that the exercise was “merely cosmetic.”

More troubling, they claimed that “state resources were shared during the emergency rule, with lawmakers loyal to the FCT Minister allegedly receiving as much as N350 million each from funds exceeding N360 billion left behind by the suspended Governor.” If true, they said, this would amount to “a betrayal of public trust on a scale that demands urgent national attention.”

Framing their appeal directly to the President, the CNPP and CNCSOs said: “As President of the Federal Republic of Nigeria and leader of the APC, you have both the constitutional authority and moral responsibility to halt this dangerous slide.” They emphasised that Nigeria “cannot consolidate democracy while tolerating legislative blackmail, political extortion, and institutional sabotage.”

Among their key demands to the President are the immediate termination of all impeachment proceedings against Governor Fubara, an independent investigation into the conduct of the Rivers State House of Assembly, a presidentially ordered probe into allegations of conditional political settlements, and a comprehensive forensic audit of all funds received and expended during the emergency rule.

In a strong concluding warning directed at the Presidency, the groups stated that “impeachment without just cause is political banditry” and that the continued weaponisation of legislative institutions is “a direct threat to Nigeria’s democracy and national peace.”

They urged President Tinubu to act swiftly to prevent a dangerous national precedent, declaring: “Governor Siminalayi Fubara must be allowed to govern. Rivers State must be allowed to breathe. Nigeria’s democracy must be protected.”

“Enough is enough,” they concluded. “Let the Governor govern. Let Rivers State develop. Let Nigeria’s democracy survive.”

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Clean Energy Day: JMG to Save N40m Yearly in Diesel Costs

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JMG N40m Diesel Costs clean energy day

By Adedapo Adesanya

As the world marks Clean Energy Day on January 26, JMG Limited, a leading provider of hybrid and integrated electromechanical solutions, is reinforcing its commitment to Nigeria’s clean energy transition with measurable impact, most notably a significant reduction in diesel consumption at its Lagos head office.

With specialized divisions spanning JMG Power for diesel and gas generators, JMG Solar for renewable energy solutions, JMG Clima for cooling systems, JMG Elevator for lifts and vertical transportation, JMG Electra for electrical infrastructure, and JMG Industrial for air compressor solutions, JMG plays a critical role in everyday life, powering homes, buildings, and industries with reliable, efficient, and environmentally responsible systems.

Demonstrating this commitment in action, JMG has deployed a 129-kilowatt hybrid solar power system at its headquarters, enabling the company to save up to N40 million annually in diesel costs. The installation now supplies up to 90 per cent of the building’s energy needs, generating approximately 15.48 MWh of clean energy monthly and eliminating over 71 tonnes of CO₂ emissions annually. The system is also reducing diesel consumption by more than 34,800 litres per year, delivering substantial operational and environmental benefits.

Designed and executed by JMG Solar, the project integrates LONGi 575W solar panels, Deye high-efficiency hybrid inverters, and 122.9 kWh of lithium-ion battery storage, providing a reliable, scalable, and future-ready clean energy solution.

JMG Limited, which designs and delivers hybrid solar systems, battery energy storage, and grid-tied and off-grid installations, says it is helping businesses reduce diesel dependence and energy costs. To accelerate solar adoption, JMG also offers flexible solar leasing and financing options, enabling organizations to transition to clean, reliable power with minimal upfront investment.

Recently, key stakeholders and business partners visited the solar installation at JMG’s headquarters, where they experienced firsthand how the transition to renewable energy is translating into tangible cost savings, improved operational efficiency, and reduced dependence on fossil fuels. The visit underscored JMG’s leadership in delivering practical and commercially viable clean energy solutions for Nigerian businesses.

Speaking on the company’s sustainability vision, Mr Rabi Jammal, Group General Manager of JMG Limited, said: “JMG is not just advocating clean energy, we are running on it. Our headquarters clearly demonstrates that smart solar solutions can deliver immediate financial and environmental benefits for businesses in Nigeria.”

Beyond its headquarters, JMG continues to advance sustainability across multiple sectors through energy-efficient lift systems, renewable power solutions for healthcare facilities, smart air compressor systems for factories, and advanced cooling technologies for data centers, proving that high performance and environmental responsibility can go hand in hand.

“As we celebrate Clean Energy Day, we are proud of the progress we have made in advancing sustainability across Nigeria. JMG remains committed to driving economic development while reducing environmental impact through smarter, cleaner energy solutions,” he added.

JMG’s recent milestones reaffirm its long-term commitment to clean energy and sustainable development. By integrating innovation, efficiency, and environmental responsibility across its operations, the company continues to create environments that balance comfort, safety, and performance while contributing meaningfully to a greener, more resilient Nigeria.

It reaffirmed its dedication to innovation, responsible growth, and clean energy solutions that support economic development and a sustainable future.

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