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FSD Africa Provides $19.5m for Green Projects in Africa

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green projects

By Modupe Gbadeyanka

To boost climate resilience in Africa, the investing arm of FSD Africa, FSD Africa Investments (FSDAi), has promised to provide $19.5 million to bridge the financing gap for green projects on the continent.

The organisation announced its intention to invest in climate-aligned infrastructure projects in Africa at the Africa Climate Summit in Nairobi, Kenya.

FSD Africa is making the investment through Acre Impact Capital’s Export Finance Fund, Catalyst Fund and Camco’s Spark Energy Services.

Business Post gathered that the firm would give $12 million to Acre Impact Capital’s Export Finance Fund I to address the lack of commercial debt financing for sustainable infrastructure projects guaranteed by official Export Credit Agencies (ECAs).

It believes that financing from ECAs reduces the cost of debt, makes infrastructure projects more affordable, and provides improved access to essential services for over 500,000 people generating over 2,000 jobs.

FSD Africa will also give $4.5 million to Catalyst Fund, a pre-seed venture capital fund and accelerator to provide hands-on venture-building support to tech start-ups that aim to improve the resilience of climate-vulnerable communities across Africa.

The investment will help demonstrate venture building as an investible model that can accelerate the growth of climate-smart businesses in Africa with a target of creating or accelerating 40 businesses and helping 5 million individuals and households adapt to the effects of climate change.

In addition, $3 million would be sunk into Spark Energy Services to address the lack of financing available to developers of smaller-scale projects by innovatively aggregating small projects to reduce transaction costs and diversify risk.

“For Africa to achieve a green economic growth pathway, access to green finance needs to be scaled up.

“Our mission is to enable investments to flow by taking more risk and working with local intermediaries to bridge the gaps in the current financing structures.

“We are backing these three funds, which provide innovative ways to finance businesses which will make a big contribution to Africa’s green economy,” the Chief Investment Officer of FSD Africa Investments, Anne-Marie Chidzero, said.

Also, the UK Minister for Development, Andrew Mitchell, said, “The climate finance projects we announced demonstrate the strength of our commitment to Africa’s green future.

“UK leadership is determined to unlock the funding needed internationally to drive forward the green agenda. Our ambitions can only be realised through partnership and cooperation with Africa and the international community. We are stronger together – and we go far when we go.”

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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Waterway Accidents: FG Urges States to Ban Wooden Boats, Night Travel

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boat accidents

By Modupe Gbadeyanka

State governments have been advised to ban the use of wooden boats for commercial water transportation to reduce waterway accidents.

This call was made by the federal government through the Minister of Marine and Blue Economy, Mr Adegboyega Oyetola.

The Minister argued that wooden boats are unstable and are highly prone to capsizing because they deteriorate quickly, unlike fibre and aluminium vessels which are more durable and safer.

His call followed incessant boat accidents in some parts of the country.

He charged the sub-nationals to adopt safer fibre-reinforced plastic and aluminium vessels to tackle the recurring and avoidable waterway accidents.

Mr Oyetola urged strict adherence to water safety regulations, warning against night travel, overloading, and the use of rickety vessels, while stressing the importance of wearing life jackets.

He disclosed that 35,000 life jackets were distributed to riverine states in 2025 and called for stronger collaboration with state governments to improve safety, noting that water transport remains critical to Nigeria’s blue economy.

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Nigeria Records 57 Electricity-Related Accidents in Three Months

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Electricity-Related Accidents

By Adedapo Adesanya

Nigeria recorded 57 recorded cases of  electricity-related mishaps, according to the latest electricity sector data released by the Nigerian Electricity Regulatory Commission (NERC).

The data, which covers the third quarter of 2025 (Q3 2025), spotlighted how 33 people lost their lives and another 33 sustained various degrees of injuries in power-related accidents across the country.

According to the Q3 2025 report, a total of 57 power-related accidents were reported across the country during the period under review.

The accidents were spread across several distribution zones, with Ikeja and Kano electricity distribution areas recording the highest number of incidents during the quarter.

Both zones reported 10 accidents each. Ikeja also recorded six injuries and four deaths, while Kano posted six deaths and four injuries.

While Abuja, Jos, Aba, Port Harcourt, Enugu, and Yola recorded varying but still troubling levels of incidents, Eko, Kaduna, and the Transmission Company of Nigeria (TCN) also featured prominently. In many of these cases, accidents resulted in either severe injuries or fatalities, or both.

Unsafe acts and hazardous conditions accounted for the highest number of injuries and tied for the highest number of fatalities, while wire snaps emerged as one of the deadliest hazards, accounting for 10 fatalities and seven injuries during the quarter.

The report noted that 10 deaths and 18 injuries were attributed to unsafe practices or conditions, pointing to a mix of human error, poor safety culture, and inadequate enforcement of operational standards by licensees.

Illegal or unauthorised access to electricity installations also contributed to the casualty figures, leading to two fatalities and three injuries during the period under review.

Vandalism, while responsible for fewer casualties in the quarter, still resulted in two deaths.

The report also noted that the TCN recorded four cases of damage to property and infrastructure arising from explosions, fire outbreaks, or acts of vandalism during the quarter.

However, NERC said it initiated investigations into all reported accidents and signalled its intention to enforce appropriate actions where necessary.

The regulator said it organised periodic health and safety managers’ meetings aimed at improving safety performance across the industry, where it brings together health and safety officers from electricity companies to review incident reports, share lessons learned, and identify areas requiring urgent improvement.

During the period under consideration, the regulator disclosed that it supervised the successful conclusion of two compensation negotiations between electricity companies and families of victims, an indication of ongoing efforts to address the aftermath of such incidents.

However, the report showed that in the previous quarter (Q2), 38 fatalities were recorded, 19 persons were injured, and 60 accidents were reported.

“Relative to 2025/Q2, the number of accidents decreased from 60 to 57, the number of fatalities decreased from 38 to 33, but the number of injuries increased from 19 to 33,” the NERC report stressed.

“During the quarter, all the accidents occurred at the distribution level, i.e., neither TCN nor any of the Gencos recorded safety accidents. Although all Discos recorded casualties, the licensees with the highest number of casualties out of the total 66 recorded during the quarter are Ikeja and Kano (10), Eko and Kaduna (8), representing 15.15 per cent and 12.12 per cent of the total, respectively.

“This quarter continues the trend of the distribution sub-segment being the biggest driver of safety accidents in the sector. Discos accounted for 93.33 per cent, 100 per cent, and 100 per cent in 2024/Q4, 2025/Q1, and 2025/Q2, respectively,” the NERC report pointed out.

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Akwa Ibom Assembly Denies Criminalising Romantic Affairs With Married Men

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Akwa Ibom Assembly

By Modupe Gbadeyanka

Contrary to reports making the rounds, the Akwa Ibom State House of Assembly is not considering passing a bill to make it a criminal offence for single ladies having romantic affairs with married men in the state.

On Monday, unconfirmed news went viral, purporting that a phantom Deputy Governor of Akwa Ibom State, Mrs Akon Etim, had sponsored a bill to ensure single ladies having sexual relationship with married men spend 10 years in prison, while the men pay a fine of N2 million.

It was claimed that the bill was to be passed by the state parliament, today, Tuesday, January 13, 2026.

Business Post reports that the Deputy Governor of Akwa Ibom State is Mrs Akon Eyakenyi, not Mrs Akon Etim.

Reacting to the reports, the chairman of the House Committee on Information, Mr Jerry Anson Otu, described the reports as “false.”

“The Akwa Ibom State House of Assembly wishes to categorically state that this report is entirely false and has no basis in fact. The Assembly has not received or considered any such bill, and the Deputy Governor has not sponsored it.

“We condemn this malicious attempt to tarnish the image of the Deputy Governor and the Assembly, and urge the public to disregard this fake news and any associated commentaries.

“The House remains committed to its constitutional role of law-making, and will not be swayed by mischievous attempts to undermine its integrity,” parts of the statement issued by the parliament stated.

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