General
FG Seeks Stakeholders Partnership in Power Sector
By Adedapo Adesanya
The federal government through the Federal Ministry of Power has endorsed Nigeria Energy Exhibition and Conference as it seeks to facilitate partnerships among key stakeholders in the power sector.
The Nigeria Energy Exhibition and Conference, which is the region’s biggest gathering of energy professionals, and features world-renowned and innovative power companies, will be making a long-awaited in-person return to Landmark Center in Lagos, from September 20 -22, 2022.
The Minister of Power, Mr Abubakar Aliyu, confirmed in a letter that he will be at the event to present the keynote opening address.
“I write to commend your effort at organizing the Nigeria Energy Exhibition and Conference scheduled to hold in Lagos from the 20th to 22nd September 2022 and to inform you that the Honourable Minster of Power is pleased to identify with the event.
“The relevance of your theme has given the Ministry the confidence to accord the event all the necessary support that will avail stakeholders the opportunity to appreciate the gains recorded in the country’s Power Sector as well as the need for further engagement and interaction to advance the sector.
“Federal Ministry of Power hereby endorses the programme and is proud to be in partnership for the successful hosting of the event,” he stated.
On his part, Mr Ade Yesufu, Exhibition Director, Nigeria Energy, said “The recent launch of Nigeria’s Energy Transition Plan shows that it is pertinent for key stakeholders to contribute to achieving Nigeria’s Energy goals.
“The Nigeria Energy Exhibition and Conference aims to support government and private sectors in Nigeria by enabling partnerships between key stakeholders to develop reliable power solutions for the growing energy landscape.
“With the support of the Federal Ministry of Power, Nigeria Energy will lead the discourse on accelerating Nigeria’s sustainable energy supply.”
Addressing post-pandemic market needs, Nigeria Energy is a transition from Power Nigeria to ensure Nigeria’s leading event remains at the forefront of the rapidly evolving energy sector. The event, organised by Informa Markets, and in its 9th edition will feature more than 3,300 attendees with over 100 exhibitors representing over 21 countries.
These key industry players will showcase the latest and commercially sustainable power solutions at Nigeria Energy, alongside a further in-depth look into finding real-world solutions for Nigeria’s power sector challenges at the Nigeria Energy conference.
Joining the minister are other speakers including Mr Ahmad Salihijo Ahmad, MD/CEO, Rural Electrification Agency of Nigeria; Mr Aliyu Tukur Tahir, Managing Director/CEO, NEMSA & Chief Electrical Inspector of the Federation (CEIF); Dr Nnaemeka Ewelukwa, MD/CEO, Nigerian Bulk Electricity Trading (NBET); and Mrs Folake Soetan, CEO, Ikeja Electric Plc.
Others include – Mr Mohammed Mijindadi, GE Nigeria President and Sales Director for Anglophone & Francophone Africa, GE Gas Power; Mrs Rolake Akinkugbe-Filani, Advisory Board Member, African Energy Chamber; Mr Ebipere Clark, Special Adviser to the Governor CBN (Infrastructure & Industry), Central Bank of Nigeria; Mr Tunde Gbajumo, Chief of Party, USAID Nigeria Power Sector Program (NPSP); and Mr Olakunle Williams, CEO, Tetracore Energy Group.
In addition, the Nigeria Energy conference is set to play host to several interactive sessions, leveraging the expertise of key players in the industry on topical issues for the advancement of the energy industry.
Critical issues that will be discussed include Nigeria’s gas-to-power masterplan which seeks to answer how the sector can incentivise and attract investments. There will also be discussions on expanding the capacity for future power needs by analyzing the Public-Private Partnership PPP Initiative and the journey so far.
There will also be sessions on decarbonization and the future of energy in Nigeria, finance and investments and how to secure capital for power projects, transforming Nigeria’s energy sector through digitalization, and a look at the promising potential of renewable energy.
General
How to Stop Recycling of Criminals, Ex-Convicts—Onabulo
By Emmanuel Udom
The president of the Crime Reporters Association of Nigeria (CRAN), Mr Olalekan Onabulo, has explained how the various justice systems could work to stop the recycling of criminals and ex-convicts in the country.
Speaking in his welcome address at the CRAN Public Lecture/Award ceremony held at Sheba Event Centre in Ikeja, Lagos, Mr Onabulo said that there is no denying the fact that the pursuit of justice and security is a shared responsibility that demands collective efforts and collaborations.
He further explained that since recidivism, which is the recycling of criminals and ex-convicts is a hydra-headed monster, which has become a significant source of concern for security agents in the country.
Security operatives are in most cases ambushed, killed or maimed by criminals earlier arrested, investigated and prosecuted who returned to a life of criminalities after their convictions.
According to the CRAN leader, these criminals are emboldened and unrepentant and may want to take their pounds of flesh from security operatives to carry out their professional duties.
Speaking on Justice System Administration and Security in Nigeria: Challenges, Opportunities, and Solutions, Mr Onabulo said all hands must be on deck to address the issue as the whole process seems to have failed and must be redeemed by all and sundry.
”The security operatives, the judiciary and indeed all Nigerians must collaborate and work together to create a safer, just, and equitable society for all,” he stated.
General
NIWA to Collaborate With Coastal States to Secure Waterways
By Adedapo Adesanya
The National Inland Waterways Authority (NIWA) has commenced moves to collaborate with coastal states across the country to increase the safety of Nigerians using the waterways to commute.
According to the waterways regulator, this is part of bids to enhance safety on the nation’s waterways.
This was disclosed by Mr Bola Oyebamiji, the Managing Director of NIWA while speaking at a one-day consultative forum on safety and insecurities on inland waterways, organiwed by the Nigeria Transportation Commissioners’ Forum in Ilorin, Kwara State on Thursday.
He emphasised the critical role that safety and security play in fostering a thriving water transportation system.
The conference, themed Prevalent Safety, Security Hazards and Practices in Inland Waterways: Passenger Transport Safety in Ilorin, Kwara State, sought to address the pressing issues facing the inland waterways sector.
Mr Oyebamiji acknowledged the ongoing efforts by NIWA to improve safety, such as the recent unveiling of the transportation code for public use, and the inauguration of several operational assets including survey boats, gunboats, water ambulances, and a passenger ferry.
He also noted that safety campaigns have been launched across all operational bases, targeting local communities in their native languages.
The NIWA boss highlighted the support from the National Assembly, including the ongoing discussions on establishing coastal guards and the attention safety and security on inland waterways have received from the House Committee on Inland Waterways.
He appealed to the Commissioners for Transportation across relevant states to collaborate with NIWA in areas such as training, safety campaigns, infrastructure development, and financial empowerment.
He also stressed that while the challenges are significant, they are surmountable through collective action, adding that the efforts must be complemented.
The NIWA MD expressed optimism for actionable and implementable outcomes from the forum, which he believes will contribute significantly to ensuring safer and more secure inland waterways in the country.
General
Seedstars Africa Ventures Raises $42m in First Close
By Adedapo Adesanya
Seedstars Africa Ventures I, a venture capital fund making early-stage investments in highly scalable start-ups in Africa, has achieved a first close of $42 million
The raise was led by the African Development Bank and EIB Global with the support of the European Union, under the ACP Trust Fund – EU Compartment and Boost Africa among other global investors.
The fund, with offices in Nairobi, Dakar and Paris, has further secured $50 million in commitments towards an $80 million fundraising target.
The milestone was announced at the 2024 Africa Investment Forum Market Days currently underway in Rabat, Morocco.
The fund has already deployed over $10 million to five pioneering African startups in the climate, food systems, energy access, internet connectivity, financial inclusion, and payments infrastructure sectors.
These are Beacon Power Services (Nigeria), Poa! Internet (Kenya), Xeno (Uganda), Bizao (Cote d’Ivoire, Senegal, and France): and Shamba Pride (Kenya).
According to a statement, it was disclosed that these businesses serve over 60 million people, including by connecting 60,000 households to the internet, supporting 50,000 farmers, and empowering 30,000 individuals with financial inclusion services across eight African countries.
“The portfolio is also fully 2X compliant, empowering women in startups and ecosystems,” the statement added.
Both the African Development Bank and the European Investment Bank are founding partners of the Africa Investment Forum, a platform that advances transformative African projects toward financial close.
Seedstars Africa Ventures I is addressing gaps in early-stage financing across Africa through investments of up to $2 million in seed and series A rounds, with significant follow-on capacity of up to $5 million, thereby bridging available pools of capital.
By leading successive investment rounds, the fund will catalyse co-investment while offering operational support to start-ups.
The Fund was founded by Ms Maxime Bouan, Mr Tamim El Zein and Mr Bruce Nsereko Lule who have over 45 years of experience investing and working across the continent.
Seedstars Africa Ventures is a member of LBO France Group, which played a pivotal role in seeding this initiative as part of their multi-asset class African strategy, alongside other initiatives.
Speaking on this, Mr Robert Daussun, and Ms Stéphanie Casciola, Chairman and CEO respectively of LBO France said “We are delighted by Seedstars Africa Ventures’ latest milestone, and proud to have been the initial supporter of the team. The portfolio the team has built with our support is innovative and transformative, already providing significant impact and value to the continent. LBO France appreciates the opportunity SAV provides for us and our partners to be part of Africa’s growth story.”
“The African Development Bank views Seedstars Africa Ventures as a strategic opportunity to provide innovative support to Africa’s venture capital industry. It serves as a conduit to improve access to finance for youth and women while also enhancing the availability of risk capital in Francophone Africa.
“This is an area that has traditionally faced limited access to risk capital,” said Mr Ahmed Attout, African Development Bank Group Director for Financial Sector Development.
“We welcome the investment of the African Development Bank, our Boost Africa partners, in the Seedstars Africa Ventures fund,” said EIB Vice-President, Mr Ambroise Fayolle. “Accelerating digitalisation is a priority for the EIB, and we are committed to supporting African businesses as they drive innovation and prosperity on the continent.”
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