General
Azuri Technologies Announces $26m Equity Investment

Leading provider of pay-as-you-go solar home solutions to off-grid households across Africa, Azuri Technologies, has announced a strategic investment of $26 million, led by Fortune Global 500 company, Marubeni Corporation, with additional participation from existing shareholders, including FTSE 250 company IP Group Plc.
It was gathered that this strategic investment will accelerate Azuri’s market growth plans in both East and West Africa and open up new opportunities for the business.
Azuri Technologies provides solar home systems to off-grid consumers in sub-Saharan Africa on a pay-as-you-go basis. These systems enable households without access to the grid to benefit from modern conveniences, from electric light to satellite TV and Internet access via smartphones.
Japanese corporation, Marubeni, has global interests in energy and substantial experience in Africa. It is believed that the capital infusion will enable Azuri to accelerate expansion in existing sub-Saharan Africa markets and roll-out its solar lighting, TV and additional services into new markets, with a focus on enhancing the lives of millions living without access to the grid.
“We are delighted today to announce the equity investment by Marubeni Corporation and existing shareholders. The entry of a leading player in the international energy market into this sector demonstrates the increasing maturity of off-grid power and its role in serving the 600 million people in Africa that still lack access to electricity,” said Simon Bransfield-Garth, CEO of Azuri Technologies.
“We believe that Azuri’s unique business model will have a profound impact on the growing off-grid energy market in Africa,” said Yoshiaki Yokota, Chief Operating Officer, Power Business Division at Marubeni Corporation.
“The global energy market is evolving rapidly, with the introduction of new renewable technologies and energy-efficient devices. We are delighted to be a strategic partner of Azuri as a market leader and see their solar home solutions and services as catalysts for change in the Africa energy sector and beyond.”
Jamie Vollbracht, Partner at IP Group added: “As an early investor in Azuri, we are pleased with its growth to date, with over 150,000 systems sold, positively impacting off-grid households in Africa. Today we are delighted to welcome Marubeni to the business to help power the next exciting phase of growth for Azuri.”
Marubeni Corporation was founded more than 150 years ago and is now one of Japan’s largest trading firms with global interests across energy, manufacturing, trading and investment. The company has been investing in solar energy businesses for over 20 years.
Since 2012, Azuri has been providing affordable pay-as-you-go solar home solutions to off-grid households across sub-Saharan Africa, with offices in Nigeria, Kenya, Tanzania, Uganda and Zambia.
Akira Partners LLP and Taylor Wessing LLP advised Azuri Technologies.
General
Port Harcourt Refinery Fully Operational Despite Minor Incident—NNPC

By Modupe Gbadeyanka
The Nigerian National Petroleum Company (NNPC) Limited has said a minor incident that occurred at the Port Harcourt Refining Company (PHRC) did not affect the operations of the oil facility.
It was reported earlier in the day that the refinery, owned by the Nigerian government but operated by the NNPC witnessed an explosion.
Recall that on Monday night, the Trans Niger Delta Pipeline operated by Shell in Rivers State exploded after some militants threatened to disrupt crude oil production in the country because of a political crisis in the state.
On Tuesday night, President Bola Tinubu declared a state of emergency on Rivers State, suspending all elected political players in Rivers State, including the Governor, Mr Siminalayi Fubara; his deputy, Mrs Ngozi Odu; and all members of the Rivers State House of Assembly.
On Wednesday, it was reported in a section of the media that the Port Harcourt was attacked but the NNPC said the facility is fully operational, assuring that there nothing to worry about.
“The Nigerian National Petroleum Company Limited (NNPC Ltd) wishes to clarify that despite a minor incident at a section of the Port Harcourt Refining Company (PHRC) earlier today, the plant remains operational and continues to produce on-spec refined petroleum products.
“NNPC Ltd assures the public that there is no cause for concern, as all sections of the recently rehabilitated plant are in full operation,” the terse state by the Chief Corporate Communications Officer of NNPC, Mr .Olufemi Soneye, stated.
General
Nigeria’s Accountant-General Seeks Predecessors’ Support to Boost Treasury

By Adedapo Adesanya
The Accountant-General of the Federation, Mr Shamseldeen Ogunjimi, has promised to collaborate and tap from the wealth of experiences of all former Accountants-General of the Federation to improve the country’s treasury.
Mr Ogunjimi disclosed this while receiving two of his predecessors, Mr John Naiyeju and Mr Ibrahim Dankwambo, in his office in Abuja.
Speaking at the event, Mr Ibrahim Dankwambo suggested upgrading the Treasury Academy, Orozo, owned by the Office of the Accountant-General of the Federation (OAGF) to a degree-awarding institution.
Also, Mr Naiyeju charged the new Accountant-General to carry everyone along and advised him to make staff welfare his priority.
In a related development, Mr Ogunjimi expressed his willingness to work with all professional organisations for a positive development to the nation, especially, his professional and academy colleagues of the doctorate class.
Mr Ogunjimi called on his classmates to come up with ideas and suggestions that would enhance the management of the nation’s treasury that will positively affect the economy development.
In his remarks, the Chairman of the Forum of Doctorate Students, Mr Ibrahim Aliyu, said they were in the Treasury House to congratulate one of their own and assured him of their support towards his successful tenure.
President Bola Tinubu appointed Mr Ogunjimi earlier this year. He was picked because of his over 30 years of extensive experience in financial management across the public and private sectors.
He was described as a career civil servant and the most senior director in the Office of the Accountant General of the Federation (OAGF),
“He has held significant positions, including Director of Funds at the OAGF and Director of Finance and Accounts at the Ministry of Foreign Affairs.
“A chartered accountant, certified fraud examiner, chartered stockbroker, and chartered security and investment specialist, Mr Ogunjimi’s academic qualifications include a Bachelor of Science (BSc) in Accountancy and a Master’s in Finance and Accounting,” a statement from the presidency added.
General
Ladi Oluwaloni Takes Over as Ayobo-Ipaja LCDA Chairman

By Dipo Olowookere
The Deputy Chairman of Ayobo-Ipaja Local Council Development Area (LCDA), Mr Oladipupo Oluwaloni, has taken over the affairs of the council, though in an acting capacity.
His elevation was approved by the Governor of Lagos State, Mr Babajide Sanwo-Olu, following the prolonged absence of the council chair, Mrs Bolatito Shobowale.
Business Post gathered that Mrs Shobowale has not been seen at the council for a long time, about six months.
She was not around when members of the Governor Advisory Council (GAC) of the Lagos State chapter of the All Progressives Congress (APC) visited the LCDA last year.
The team, led by a former Deputy Governor of Lagos State, Mr Femi Pedro, was welcomed by Mr Oluwaloni and other council staff.
She was also not available when the council held a graduation ceremony for some residents who underwent an empowerment training last month.
It was learned that her absence from work, based on health grounds, has made it impossible for the 2025 budget to be presented to the council’s lawmakers for approval.
To prevent the shutdown of the council, Mr Oluwaloni has been asked to take over as the chairman of Ayobo-Ipaja LCDA.
He will be expected to quickly present the budget for approval to enable the council carry out critical projects for the benefit of residents of the area.
According to reports, Mr Oluwaloni, who intends to contest for the chairmanship position of the Ayobo-Ipaja LCDA later this year, has been given the go-ahead by the party leaders to lead the council.
Already, the state government, through the Commissioner for Local Government, Chieftaincy Affairs, and Rural Development, Mr Bolaji Roberts, has issued a letter to the acting chairman to resume office with immediate effect.
“This is a great responsibility, and I am fully committed to upholding the trust placed in me. My focus will be on ensuring that governance at the grassroots remains effective, responsive, and aligned with the developmental agenda of our great state,” Mr Oluwaloni commented on his assumption of office.
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