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AfDB Okays $500m Loan to Nigeria for Economy, Energy Transition

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AfDB Board

By Adedapo Adesanya

The board of the African Development Bank Group (AfDB) has approved a $500 million loan to Nigeria to finance the second phase of the Economic Governance and Energy Transition Support Programme.

According to the Abidjan-based lender, the policy-based operation is for fiscal years 2024 and 2025.

“The second phase of the programme aims to stimulate inclusive growth by accelerating structural reforms in the energy sector, while supporting progressive reforms of fiscal policy to boost non-oil revenues and expand fiscal space. The new phase will consolidate and build on the achievements of the first phase,” said Mr Abdul Kamara, Director General of the lender’s arm in Nigeria.

The programme will place emphasis on three main areas. First, the programme will deepen fiscal policy reforms by strengthening public financial management systems and enhancing the transparency and efficiency of public spending; secondly, it will accelerate the reform of the power engineering sector to reduce energy poverty, expand access to energy, improve sector governance, and attract private investment.

The second phase of the scheme aims to stimulate inclusive growth by accelerating structural reforms in the energy sector; and thirdly, it will support implementation of the energy transition plan through measures that promote climate change adaptation and mitigation, including the introduction of energy-efficiency standards for electrical appliances.

The Nationally Determined Contribution (NDC) will also be updated for the 2026–2030 period.

The direct beneficiaries are the Federal Ministry of Power, the Federal Ministry of Finance, the Federal Inland Revenue Service, the Office of the Auditor General, the Debt Management Office, the National Climate Change Council of Nigeria (NCCC), the Federal Ministry of the Environment, the Nigerian Electricity Regulatory Commission (NERC), and other bodies responsible for social and economic policies.

Benefits will also accrue to private businesses in the form of improved investment climate and opportunities in the energy sector at the level of individual states of the Federation, and from the creation of an environment more conducive to public-private partnerships.

AfDB has been instrumental in Nigeria, backing government development efforts over the years.

As of October 31 2025, the active portfolio of the African Development Bank Group in Nigeria comprised 52 projects with a total commitment of $5.1 billion.

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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Nigerian Bottling Company Bridges Education, Employability Gap

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Nigerian Bottling Company UNILAG

By Modupe Gbadeyanka

The Nigerian Bottling Company (NBC) has reaffirmed its determination to bridge the gap between education and employability in the country by sustaining its flagship Youth Empowered (YE) programme.

This initiative provides hands-on learning, real-world insights, and access to career-shaping opportunities to young Nigerians.

The 2026 edition of the scheme commenced on February 2 at the University of Lagos (UNILAG), with participants mainly young people between the ages of 16 and 35.

A statement from the organisation said this year’s rollout will expand to more tertiary institutions, including the Federal University of Technology, Akure (FUTA). This follows a successful 2025 tour that reached seven cities across the country, including Makurdi, Jos, Benin, Kaduna, Asaba, Akure, and Port Harcourt.

Participants in the 2026 programme will receive training across key modules designed to support personal, professional, and business growth, including Business Life Skills, Adaptability and Resilience, Financial Literacy, Customer Service and Communication, Sales and Negotiation Skills, and Workplace Ethics.

The sessions will also feature breakout workshops on Business Planning, Project Management, and Time Management, alongside the Director’s Grant Pitch Competition, where participants can pitch their ideas for a chance to win business funding.

In addition to skills development, NBC’s People and Culture team will be present throughout the programme to identify outstanding talent for future opportunities within the organisation, further strengthening the connection between learning, employment, and long-term career growth.

One of the participants at the UNILAG training, Waliat Adedogun, who received a cash grant through the Director’s Grant Pitch Competition to support her small business, said: “Youth Empowered gave me more than training; it gave me clarity and confidence. Winning the grant means I can finally take my business idea from a dream into something real. I now feel prepared to build, grow, and create opportunities not just for myself, but for others too.”

Since its launch in 2017, the scheme has impacted more than 70,000 young Nigerians, equipping participants with practical skills, confidence, and exposure needed to succeed in today’s dynamic workplace and entrepreneurial landscape.

This year’s programme is being delivered in collaboration with Fate Foundation as the implementing partner, with funding support from The Coca-Cola HBC Foundation.

Last year, 10 beneficiaries were selected for six-month paid internships across NBC locations in Lagos, Ibadan, Asejire, and Challawa, gaining direct industry exposure.

Additionally, three outstanding participants received sponsorship for an all-expenses-paid intensive culinary training programme and were awarded N1 million each to support the launch of their businesses.

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INEC Fixes February 20 for 2027 Presidential, NASS Elections

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Incorruptible INEC Chairman

By Modupe Gbadeyanka

The 2027 presidential and National Assembly elections will take place on Saturday, February 20, the Independent National Electoral Commission (INEC) has revealed.

In a notice for the 2027 general polls issued on Friday, the electoral umpire also disclosed that the governorship and state assembly elections for next year would be on Saturday, March 6.

Speaking at a news briefing in Abuja today, the chairman of INEC, Mr Joash Amupitan, expressed the readiness of the commission to conduct the polls next year, which is 12 months away.

The timetable issued by the organisation for the polls comes when the federal parliament has yet to transmit the amended electoral bill to President Bola Tinubu for assent.

This week, the Senate passed the electoral bill, reducing the notice of elections from 360 days to 180 days, while the transmission of results was mandated with a proviso.

Recall that on February 4, INEC said it was ready to go ahead with preparations for the elections despite the delay in the passage of the amended electoral law of 2022.

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NGIC Pipeline Network to Experience 4-Day Gas Supply Shortage

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NGIC Pipeline Network

By Modupe Gbadeyanka

The pipeline network of the NNPC Gas Infrastructure Company Limited (NGIC) will witness a temporary reduction in gas supply for four days.

This information was revealed by the Chief Corporate Communications Officer of the Nigerian National Petroleum Company (NNPC) Limited, Mr Andy Odeh, in a statement on Thursday night.

A key supplier of gas into the NGIC pipeline network is Seplat Energy Plc, a joint venture partner of the state-owned oil agency.

It was disclosed that the facility would undergo routine maintenance from Thursday. February 12 to Sunday, February 15, 2026.

The NNPC stated that, “This planned activity forms part of standard industry safety and asset integrity protocols designed to ensure the continued reliability, efficiency, and safe operation of critical gas infrastructure.”

“Periodic maintenance of this nature is essential to sustain optimal system performance, strengthen operational resilience, and minimise the risk of unplanned outages,” it added.

“During the four-day maintenance period, there will be a temporary reduction in gas supply into the NGIC pipeline network. As a result, some power generation companies reliant on this supply may experience reduced gas availability, which could modestly impact electricity generation levels within the timeframe.

“NNPC Ltd and Seplat Energy are working closely to ensure that the maintenance is executed safely and completed as scheduled. In parallel, NNPC Gas Marketing Limited (NGML) is engaging alternative gas suppliers to mitigate anticipated supply gaps and maintain stability across the network,” the statement further said.

“Upon completion of the maintenance exercise, full gas supply into the NGIC system is expected to resume promptly, enabling affected power generation companies to return to normal operations,” it concluded.

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