General
COP28: IRC Calls for Nigeria as Priority State Facing Crisis
By Adedapo Adesanya
The International Rescue Committee (IRC) has called for Nigeria to be placed at the forefront of the climate agenda as leaders prepare to gather for the Conference of Parties, COP28 in the United Arab Emirates (UAE) in November.
In a statement on Monday, the group said unprecedented flooding looms over 30 states in Nigeria and has already impacted some areas this year, leading to a sharp increase in diseases, including cholera.
It noted that this development had caused grave concern among humanitarian organisations as a direct result of the devastating flooding last year, which affected many who were not able to access clean water or health facilities.
31 of the 36 states across Nigeria recorded 23,550 suspected cases of cholera, with Borno state alone recording 12,000 cases, according to the IRC.
Since the beginning of July this year, the government has issued flood alerts in several localities across the states of Kano, Borno, Adamawa, Katsina, Kebbi, Zamfara, Sokoto, Delta, Kaduna, Akwa Ibom, Plateau, Jigawa, Kwara, and Niger State.
With COP28 approaching, the IRC called for Nigeria to be one of the countries prioritised in the global climate agenda, with concrete commitments to unlock more funding for adaptation and climate resilience.
IRC also urges the expansion of partnerships with local civil society groups and investments in innovations like anticipatory action to prevent the climate crisis from becoming a catastrophe.
Speaking on this, Mr Babatunde Anthony Ojei, IRC Country Director for Nigeria, said, “Last season’s floods in Nigeria had disastrous effects, including the loss of at least 600 lives and the forced displacement of more than 1.5 million individuals across several states. In IRC clinics in Borno, Adamawa, and Yobe states alone, almost 35,000 children were recorded as patients having contracted waterborne illnesses due to the floods, increasing their susceptibility to further illness.
“The disruption to the agricultural calendar, including the planting of seeds or harvesting, and the potential destruction of fields due to rising waters, is equally alarming as it will impact the food supply to the population.
“Already, nearly 25 million Nigerians are likely to go hungry by August of this year; malnutrition levels in northeast and northwest Nigeria continue at higher levels than this time last year or the previous four years, with nearly 2 million people receiving humanitarian food assistance in April 2023. The risk of further disruption to education services must also be taken into account, especially given that Nigeria already ranks as one of the highest in the world for out-of-school children.”
As part of its response to the crisis affecting populations in Nigeria, the IRC said it had piloted an anticipatory cash programme in the northeast of the country.
“Using information from government meteorological agencies that it partnered with to predict a generational flood, the IRC research teams compared the effects of providing cash transfers to households ahead of a climate shock instead of the typical post-shock response.
“The evidence clearly showed that families receiving cash days before the disaster were less likely to go hungry and more likely to take pre-emptive action. This approach can mitigate the impact of climate hazards in the short-term and improve resilience in the long-term,” the statement noted.
By Emmanuel Udom
The Abeokuta diocese of the Catholic Church in Ogun State is set to hold a one-day training for all parish correspondents across its over 69 parishes in the state.
Business Post gathered that the training is planned for Saturday, May 3, 2025, at the St Peter & Paul Catholic Hall, located at Itesi along Adetan Road in Abeokuta, Ogun Sstate.
The training will commence from 10 am to 2.30 pm and the event is coming ahead of the church’s Communications Week (ComWeek) fixed for May 25 to June 1, 2025, at the same venue.
The Social Communication Director for the diocese, Fr Gregory Fadele, in a statement said all parish correspondents are expected to be at the venue of the training on or before 9.30 am for registration.
He, however, disclosed that no proxy arrangements would be allowed as refreshments, stationary, certificate of participation, and others would be given to each correspondent drawn from all the parishes of the Catholic church in Ogun State.
By Adedapo Adesanya
African Export-Import Bank (Afreximbank) has backed plans to set up an oil trading house called Africa Trading Minerals (Atmin), which will finance the purchase of refined petroleum products by African and Caribbean oil buyers.
The bank has invested $3 billion in the trading house, which it expects to finance about $10 billion to $14 billion of Intra-African petroleum imports.
Atmin will be based in Dubai, the United Arab Emirates, and is expected to have around 15 employees.
It will start with crude and then expand into oil products and minerals, according to reports.
Afreximbank will be a controlling shareholder at Atmin, while employees will own some 15 per cent of the firm.
The move takes place as oil majors and Western banks retreat from Africa, and the continent is facing a decline in oil and gas production due to under-investment, while also spending $30 billion annually on fuel imports.
It is also seeking to address Africa’s persistent reliance on imported refined petroleum products, which accounted for an amount of $30billion annually in petroleum import costs due to inadequate refining.
Key products to be traded are refined petroleum products including but not limited to Premium Motor Spirit (PMS), Automotive Gas Oil (AGO), Heavy Fuel Oil (HFO), Jet Fuel, and Kerosene. The eligible exporters are refineries operating in Africa.
According to Reuters, Atmin will be run by Mr Ajay Oommen,a former Shell executive who worked for the oil major for for 17 years as well as Mr Vikram Thakur, who worked for 18 years at Shell, including in business development, trading origination and structured finance, as well as Mr Joseph Kanaan, a trader at Shell for 11 years.
Speaking on this, Mr Benedict Oramah, President and Chairman of the Board of Directors, Afreximbank, said that the development will have a direct impact on the volume of the refined petroleum products produced and consumed in Africa.
“It will also have a multiplier effect on the downstream petroleum value chain as it will catalyse critical investments in shipping and marine logistics for intra and extra African trade of crude oil and refined products.
“The multiplier effect will also be seen in marine cargo insurance and other ancillary businesses within the sector. We want to see an increased proportion of the about 4 mbpd of crude oil produced in the Gulf of Guinea refined in Africa,” he said.
By Modupe Gbadeyanka
A popular Lagos-based socialite, Mr Emeka Daniel Okonkwo, otherwise known as E-Money, has been apprehended by the Economic and Financial Crimes Commission (EFCC).
The younger brother of a well-known musician, KCee, whose real name is Mr Kingsley Okonkwo, was reportedly arrested by the agency on Monday night at his residence at Omole Estate, Lagos.
He was accused of spraying foreign currency at a public function recently, an act believed to be against the Foreign Exchange Act.
At the time of filing this report, the EFCC has not reacted to reports of E-Money’s arrest.
The organisation is said to be looking into the matter with a view to prosecuting the socialite for the alleged offence.
He was said to have been flown to Abuja for questioning and should be taken to court to face the full wrath of the law if the agency is certain that he has committed an offence.
Recall that some days ago, E-Money was at the 50th birthday of another socialite, Mr Obinna Tochuukwu Iyiegbu, otherwise known as Obi Cubana, in Abuja.
He was also spotted at the wedding ceremony of Iyabo Ojo’s daughter in Lagos.
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