General
African Oil Producers Seek Commitment For $5bn Africa Energy Bank
By Adedapo Adesanya
The African Petroleum Producers’ Organisation (APPO) has urged member countries to fulfil their financial obligations towards establishing the Africa Energy Bank (AEB), the first of such financial institutions on the continent.
Recall that Nigeria recently secured the hosting rights for the bank, which will be located in Abuja, the nation’s capital.
To ensure the bank’s operationalisation, APPO Secretary General, Mr Farouk Ibrahim, called on African oil-producing member countries to contribute their subscription fees of $83 million, to aid the bank’s expected launch in September 2024.
Mr Ibrahim appealed during the 18th ordinary meeting of the APPO executive board in Brazzaville, Republic of Congo, where APPO headquarters is situated, a statement signed by the Permanent Secretary, Ministry of Petroleum, Mr Nicholas Ella, said on Wednesday.
“We are aligned with the resolutions of the APPO Council of Ministers from last week. We will double our efforts to ensure we gather the necessary funds to initiate the Africa Energy Bank,” Mr Ibrahim said.
He further disclosed that the oil-producing member countries had formally written to the Nigerian government to discuss expedited steps to establish the bank.
“On Friday, July 5, we formally wrote to the Federal Republic of Nigeria. We will discuss how quickly the bank building will be ready and the host country agreement prepared for signature. We already have one member country that has signed the establishment agreement. We need one more signature to proceed,” Ibrahim added.
Expressing President Bola Tinubu’s gratitude to member states for their unwavering support and confidence in Nigeria’s bid to host the bank, Mr Ella, who led Nigeria’s delegation, reiterated commitment to the continental bloc’s ideals to enhance energy security in Africa.
“The gathering of the 18 member countries of APPO in Brazzaville demonstrates our collective dedication to fostering unity, cooperation, and sustainable development within the African energy sector,” noted Mr Ella.
He pledged Nigeria’s determination to collaborate with other members to address the financial needs of Africa’s energy sector through funding oil and gas projects.
Mr Ella urged member countries to harness the collective strength of the continent’s nations to build a brighter, more prosperous future for Africa.
“Together, we will create an institution that addresses the financial needs of our energy projects and champions sustainable development, environmental stewardship, and economic inclusivity across Africa,” he added.
During a brainstorming session on the continent’s energy future, Algerian executive board member, Mr Remini Amine, emphasised that local content, manpower, and infrastructure development remain key to unlocking Africa’s energy opportunities.
APPO member state representatives agreed that the energy bank would bridge funding gaps in the sector, with Mr Ibe Kachikwu, a former Nigerian Minister of State, Petroleum Resources, suggesting a 10-year plan for the energy industry to encourage an “open era” for investment. Kachikwu advised APPO to grow the energy bank’s capital base before investing.
Speakers at the week-long event emphasised the need for National Oil Companies (NOCs) to lead in crude oil production and refine oil to meet local consumption needs. The energy bank is an initiative of the APPO and Afreximbank.
General
Nasarawa Orders Immediate Shutdown of Mining Activities in Endo Community
By Adedapo Adesanya
The Nasarawa State government has ordered the immediate suspension of mining activities at Endo community in Udege, directing Lideal Mining Company to stop operations and vacate the site without delay.
The government also ordered an immediate halt to the movement of raw minerals from the location, tightening restrictions around the disputed mining area.
The latest intervention by the state government signals a tougher stance on mining operations considered capable of threatening public order or operating outside established procedures.
Announcing the decision in Lafia, the state capital, the Commissioner for Environment and Natural Resources, Mrs Margaret Elayo, said the action followed a series of consultations, stakeholder engagements and security assessments linked to activities within the affected mining cadastral unit.
She said the directive was issued in the public interest as part of efforts to maintain order, protect host communities and strengthen regulatory compliance in the state’s mining sector.
According to the commissioner, the company has been instructed to begin the immediate withdrawal of its mining equipment, heavy machinery, trucks, operational facilities and personnel from the site.
Mrs Elayo said the move aligns with the administration of Governor Abdullahi Sule, which has repeatedly pledged to enforce lawful mining practices, preserve peace in mining communities and build investor confidence through transparent regulatory processes.
She stressed that the government’s decision forms part of a broader plan to reposition the mining sector and ensure that mineral development does not undermine security, environmental standards or community stability.
To enforce compliance, the state government has directed the deployment of security personnel to the affected mining site to prevent unauthorised activities and ensure full adherence to the suspension order.
Nasarawa remains one of Nigeria’s key solid minerals states, attracting growing interest from mining investors because it contains lithium, tin, columbite and other strategic minerals.
However, increased mining activity has also heightened concerns around regulation, community disputes, environmental protection and security management.
General
EFCC Arrests Convicted Ex-Power Minister Saleh Mamman
By Modupe Gbadeyanka
The recently-convicted former Minister of Power, Mr Saleh Mamman, has been arrested by the Economic and Financial Crimes Commission (EFCC).
Chairman of the EFCC, Mr Ola Olukoyede, during a press briefing in Abuja on Tuesday, said the former senior government official was apprehended this afternoon along with two others accused of shielding him.
Earlier this month, Justice James Omotosho of the Federal High Court in Abuja convicted Mr Mamman for N33.8 billion fraud after he was found guilty of a 12-count charge brought against him by the EFCC. He was sentenced to 75 years in prison, though he was not present in court on the day of his sentencing.
Speaking with journalists today, Mr Olukoyede said the convict was arrested at 3:30 am on Tuesday in a house in Kano, where he was allegedly being protected.
“Ladies and gentlemen, you will recall that sometime in January 2025, we filed charges against the ex-minister of power for allegedly converting over N33 billion – money that was set aside for the Mambilla and Zungeru power projects,” Olukoyede said during a press briefing.
“About 14 to 15 months down the line, specifically on the 7th of this month, we secured convictions on all 12 counts. Because the defendant was not present, the issue of sentencing was shifted. And on the 13th of this month, he was sentenced in absentia.
“Since then, we decided to open our intelligence surveillance to the public, looking for him all over the place. I am happy to announce to Nigerians that at about 3:30 a.m. this morning, we arrested Mr Saleh Mamman somewhere in Kano. We have discovered that he was actually being protected all this while,” he said.
General
UK Backs Pan-African Founder Support Programme at London Tech Week
By Adedapo Adesanya
The United Kingdom is deepening efforts to position itself as a preferred global expansion hub for African startups with the launch of the UK–Africa Ecosystem Week, a coordinated support programme to be delivered during London Tech Week.
Powered by the UK–Africa Sandbox and Ventures 54 in partnership with the UK Department for Business and Trade (DBT), the initiative is expected to provide African founders with structured support to navigate business, investment and networking opportunities in the UK market.
The programme is also backed by the UK Nigeria Tech Hub, the UK South Africa Tech Hub, London & Partners and the Mayor of London’s office, signalling growing institutional support for stronger commercial and technology ties between the UK and African innovation ecosystems.
According to the organisers, the initiative introduces a more coordinated approach to participation at London Tech Week, one of the world’s largest annual technology gatherings, which attracts over 100,000 participants across more than 500 events yearly.
Founders participating in the programme will gain access to curated sessions, concierge-style support services, dedicated workspaces, investor engagement opportunities and market entry guidance tailored to African technology companies seeking expansion into the UK.
A flagship UK–Africa Ecosystem Day will also bring together investors, policymakers, ecosystem builders and founders to discuss commercial expansion opportunities and partnerships between both regions.
Founder of Ventures 54 and UK-Africa Sandbox, Mr Anthony William Catt, said the initiative was developed in response to the increasing number of African startups travelling to London Tech Week over the last few years.
He explained that what started as informal networking gatherings under the London Africa Network had evolved into structured programming and has now scaled into a full week of activities aimed at helping founders maximise opportunities available within the UK ecosystem.
“This is about putting the right structure in place, so African founders have a dedicated support track to get the most out of the week and access the best of what the UK has to offer,” he said.
Speaking on the initiative, Acting His Majesty’s Trade Commissioner for Africa, Mr Ben Ainsley, described the UK as a natural destination for ambitious African startups due to its large technology ecosystem, deep venture capital market and access to global talent.
“The UK Government is committed to supporting high-growth international companies succeed in the UK and initiatives like the UK–Africa Sandbox demonstrate our focus on making it easier for African founders to access support and fully engage with the UK’s world-class innovation ecosystem.”
The programme is expected to attract delegations and founders from countries including Nigeria, South Africa, Kenya, Egypt, Algeria and Ghana.
Organisers added that the initiative would extend beyond London Tech Week through the broader UK–Africa Sandbox platform, which aims to support African founders entering the UK market while also creating pathways for UK startups seeking expansion opportunities across Africa.
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