General
G20 Summit: Tinubu Endorses Global Alliance Against Hunger, Poverty
By Adedapo Adesanya
President Bola Tinubu has committed Nigeria to the creation of the Global Alliance Against Hunger and Poverty, championed by President Luiz Inacio Lula da Silva of Brazil.
President Tinubu described the alliance as pivotal in the global fight against hunger and poverty.
At the 19th G20 Leaders Summit opening session in Rio de Janeiro, Brazil on Monday, the Nigerian leader lauded the initiative, describing it as the right step to address one of the world’s most significant challenges.
“This bold and visionary step underscores Brazil’s leadership in addressing one of the most urgent and persistent challenges facing our world today.
“The creation of this Alliance marks a significant milestone in our global efforts to eradicate hunger and poverty, and it also sends a powerful message of solidarity to vulnerable populations around the globe.
“By fostering collaboration between governments, international organisations, and civil society, this initiative offers a comprehensive approach not only to addressing immediate needs but also tackling the structural causes of hunger and poverty,” he said.
President Tinubu compared the global initiative to one of the eight priority areas he outlined at his inauguration 18 months ago, expressing Nigeria’s eagerness to adopt international best practices to advance its economic development.
According to him, Nigeria’s endorsement of the declaration of commitment to join the Global Alliance is a significant step in its efforts to address hunger and poverty, by leveraging international cooperation and resources to bolster domestic strategies.
He added that by supporting the initiative, Nigeria also demonstrates a solid commitment to realising the Sustainable Development Goals (SDGs), particularly SDG 1, which focuses on eradicating poverty, and SDG 2, which aims to achieve zero hunger.
“These goals are at the core of Nigeria’s development agenda, and the Alliance offers a platform to accelerate progress towards them,” Mr Tinubu said.
“By collaborating with international partners, Nigeria aims to leverage best practices, innovative solutions, and financial support to enhance its efforts to combat poverty and hunger. The endorsement reinforces Nigeria’s role as a key player in global efforts to promote sustainable development and improve the quality of life for all its citizens,” President Tinubu said.
He emphasised the urgent need for the United Nations Security Council reform to ensure its continued relevance in global interventions, reiterating Nigeria’s readiness and capability to represent Africa within this elite.
He called on the G20 to champion this noble ideal, having admitted the African Union as a group member.
“The Security Council should expand its permanent and non-permanent member categories to reflect the world’s diversity and plurality. Africa deserves priority in this.
“The Security Council should expand its permanent and non-permanent member categories to reflect the world’s diversity and plurality better.
“Africa deserves priority in this process, and two permanent seats should be allocated to it with equal rights and responsibilities. Nigeria stands ready and willing to serve as a representative of Africa in this capacity.”
In the statement read on his behalf by the Minister of Foreign Affairs, Mr Yusuf Tuggar, President Tinubu noted that the G20 now wears a toga of a forward-looking international institution that upholds reform-minded multilateralism.
He especially commended the decision by the G20 to grant permanent membership to the African Union and for its consistency in sustaining the tradition of inviting guest countries to join the group.
This broad participation, he said, allows the opportunity for more inclusive and effective discussions to address shared global challenges.
“Some permanent members of the Council have shown promising signs of support for this process, which is a positive development. We welcome this shift in attitude and call for a faster pace to the long overdue change.
“The world faces various challenges, including extreme poverty, inequality, climate change, terrorism, and global conflicts.
“These issues are exacerbated by longstanding inequities in the global governance system, which have led to unsustainable sovereign debt and distortions in access to capital markets, trade imbalances, unfair representations and hindered development in the Global South.
“It is our responsibility to find pragmatic solutions to fix these imbalances.
“Particularly pressing is global taxation, which profoundly impacts developing countries.
“The current international tax system, largely shaped by the interests of more affluent nations, often leaves developing countries at a disadvantage, especially in taxing digital economies.
“This systemic imbalance has led to significant revenue losses, hampering our efforts towards sustainable development and economic self-reliance,” the Nigerian leader said.
By Adedapo Adesanya
The Nigeria–China Strategic Partnership (NCSP) recently hosted a high-level delegation from Newryton International Industrial Development Company Limited, a leading Chinese investment and industrial development consortium, to advance discussions on deepening bilateral trade, industrial cooperation, and development financing between both countries.
The Newryton delegation, led by Mr David Chen, Assistant Secretary-General of the China Hainan Investment Council, had earlier engaged with the Nigerian Association of Commerce, Industry, Mines and Agriculture (NACCIMA). They were accompanied to the NCSP by Mr Joe Onyuike, Vice-Chairman of NACCIMA’s Agriculture and Livestock Trade Group, who conveyed NACCIMA’s support for the delegation’s engagements.
Discussions centered on the establishment of a Nigeria–China Trade and Investment Platform, including a proposed Promotion Centre in China to support Nigerian products, investors, and state governments.
The consortium also presented opportunities within Hainan Province’s Free Trade Port (FTP), which offers preferential policies that Nigerian businesses can leverage to expand exports and attract new investments.
In his address on behalf of Newryton, Mr Pong outlined plans to collaborate with NCSP in accessing FOCAC-supported financing for strategic investments in agriculture, energy, mining, solid minerals processing, and related sectors. The delegation identified aquaculture as a key area of interest and referenced the forthcoming Global Aquaculture Conference in Hainan Province, encouraging Nigerian stakeholders to participate.
They also expressed readiness to strengthen cooperation in vocational training and employment under the Belt and Road Initiative (BRI).
Welcoming the delegation on behalf of the Director-General, Martins Olajide, NCSP’s Head of Internal Operations, reaffirmed the organisation’s commitment to fostering mutually beneficial partnerships.
He highlighted NCSP’s strong interest in the proposed Nigeria–China Trade and Investment Platform and the development of the Nigerian Oil Palm Industrial Park as a flagship demonstration project.
Also speaking at the meeting, Ms Judy Melifonwu, NCSP’s Head of International Relations, underscored the opportunities presented by China’s zero-tariff policy and the forthcoming NAQS–GACC protocol on the export of Nigerian aquaculture products. She noted that these frameworks would significantly enhance Nigeria’s competitiveness in emerging global markets.
Both parties expressed commitment to advancing discussions toward a structured cooperation framework covering all priority areas.
By Adedapo Adesanya
The United Kingdom–Nigeria Infrastructure Advisory Facility (UKNIAF), established in 2019 as part of a 16-year legacy of UK-funded infrastructure support to Nigeria, convened over 100 senior stakeholders on Tuesday, December 2, to review its progress and formally close out its current phase of operations.
The event brought together representatives from federal and state governments, development partners, development finance institutions, and the private sector to reflect on UKNIAF’s work across the power, infrastructure finance, and roads sectors. Discussions focused on institutional reforms, capacity development, and the sustainability of tools and processes introduced over the past six years.
Since inception, UKNIAF has delivered targeted technical assistance designed to embed evidence-based reforms, data-driven decision-making, and improved institutional performance. Its interventions have mobilised significant financing, strengthened regulatory and planning systems, and enhanced investor readiness across multiple infrastructure markets.
In the power sector, participants highlighted landmark achievements including the development of Nigeria’s first Integrated Resource Plan, which outlines a least-cost and low-carbon pathway for expanding electricity supply. UKNIAF also supported the Nigerian Electricity Regulatory Commission (NERC) in building advanced real-time data capabilities for tariff monitoring, grid management, and outage tracking. The programme enabled pioneering states to establish their own electricity markets following constitutional reforms.
In infrastructure finance, UKNIAF was recognised for strengthening project preparation systems and enabling access to capital. Notable accomplishments include supporting the mobilisation of $75 million from the African Development Bank to the Special Agro-Industrial Processing Zone (SAPZ) programme in two states, and accelerating mini-grid and solar deployment through improved technical standards at the Rural Electrification Agency (REA).
UKNIAF also designed a national project preparation facility, for which N21 billion was allocated in both the 2024 and 2025 budgets to build a pipeline of bankable projects.
Speaking on this, Mr Frank Edozie, UKNIAF Team Lead, described the programme’s close-out as a “handover for sustained delivery,” emphasising that strengthened institutions now hold tools that make Nigeria’s infrastructure landscape more transparent, climate-smart, and investor-ready.
On his part, the Minister of Power, Mr Adebayo Adelabu, commended the programme, noting that its technical assistance and advisory services had helped lay the foundation for a sustainable and inclusive electricity supply industry.
Mrs Cynthia Rowe, Head of Development Corporation at the UK Foreign, Commonwealth and Development Office (FCDO) in Nigeria, praised the partnership, highlighting achievements ranging from state-level electricity market reforms to unlocking major financing and designing Nigeria’s Climate Change Fund.
Enugu State Secretary to the State Government, Professor Chidiebere Onyia, underscored the lasting influence of the programme, stating that UKNIAF’s impact continues through the expertise and leadership transferred to national and sub-national institutions.
The close-out event reaffirmed stakeholders’ commitment to sustaining tools, reforms, and knowledge products developed under UKNIAF, while strengthening collaboration among public, private, and development actors in the infrastructure ecosystem.
Participants included federal and state agencies such as the Nigeria Governors’ Forum, Federal Ministry of Power, Ministry of Finance, NERC, REA, and the Transmission Company of Nigeria, alongside development partners including the African Development Bank, World Bank, and IFC, as well as private sector and civil society stakeholders.
By Aduragbemi Omiyale
The gantry price of Premium Motor Spirit (PMS), otherwise known as petrol, has been slashed by the Dangote Petroleum Refinery.
The Lagos-based oil facility brought down the ex-depot price of the petroleum product by 15.58 per cent or N129 per litre to N828 per litre.
Though the company had yet to release an official statement on this development, real-time market data on Petroleumprice.ng on Friday showed the new price.
Punch reports that data from the platform also showed fresh reductions across several private depots following the refinery’s latest review.
Sigmund Depot cut its ex-depot price by N4 to N824 per litre, Bulk Strategic dropped its price by N3, and TechnoOil slashed its by N15.
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