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Nigeria to Host 2025 Afreximbank Annual Meetings in Abuja

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Afreximbank

By Adedapo Adesanya

Nigeria will host the 2025 Afreximbank Annual Meetings (AAM 2025) after a signing ceremony on Wednesday at the Federal Ministry of Finance Headquarters, Abuja.

The AAM 2025 is scheduled to take place in Abuja from June 23 to June 27, 2025, with over 5,000 delegates expected to participate in the high-level discussions.

A statement said the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, representing the Nigerian government, signed for the country Afreximbank President, Mr Benedict Oramah, signed for the Pan-African bank.

Speaking at the event, Mr Edun, highlighted the significance of hosting the prestigious meetings.

“Nigeria is honoured to host the 2025 Afreximbank Annual Meetings, which will serve as a critical platform to drive discussions on trade financing, economic growth, and investment opportunities across Africa,” he said.

He added that the event “is a testament to our commitment to strengthening Africa’s financial sector and positioning Nigeria as a hub for economic transformation.”

On his part, Afreximbank President, Mr Oramah commended Nigeria’s leadership in promoting trade and economic development, noting that the country’s hosting of the event would further reinforce its influence in shaping Africa’s financial landscape.

The Afreximbank Annual Meetings attract policymakers, investors, and financial experts from across the world to deliberate on Africa’s economic challenges and opportunities.

The 2025 edition will focus on enhancing trade financing for African businesses, strengthening cross-border trade and payment systems, expanding opportunities for small and medium-sized enterprises (SMEs) as well as Africa’s role in global trade and industrialisation.

Present at the event include the Minister of Information and National Orientation, Mr Mohammed Idris; Permanent Secretary, Ministry of Finance, Mrs Lydia Shehu Jafiya; Permanent Secretary, Special Duties, Mr Raymond Omenka; Permanent Secretary, Federal Ministry of Health, Kachollom Shangti Daju; Trade and Investment, Mr Nura Abba; and State House, Mr Temitope Peter Fashedemi alongside other senior government officials, business leaders, and financial experts were present at the event.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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IFC, Norfund Back Nigeria’s Mini-Grid Expansion with $83.2m Funding

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Mini Grids Programme

By Adedapo Adesanya

The World Bank’s financing arm, the International Finance Corporation (IFC), and the Norwegian investment fund (Norfund) have committed up to $83.2 million to expand solar hybrid mini-grids across Nigeria, in a move expected to connect nearly half a million new users to electricity.

The funding will support five renewable energy companies, Darway Coast Nigeria Limited, GVE Projects Limited, Prado Power Limited, PriVida Power Limited and StarTimes Energy, to build 315 mini-grid sites across underserved communities.

The projects are projected to deliver about 494,189 new electricity connections. Renewable energy solutions

IFC says the intervention is aimed at closing Nigeria’s massive electricity gap, noting that more than 85 million people in the country still live without access to power.

The institution said expanding distributed renewable energy will not only improve electricity access but also cut energy costs and support small businesses in rural areas.

According to IFC, “By supporting distributed renewable energy solutions, this initiative will help expand access to reliable electricity while reducing energy costs, strengthening local economies, and enabling income-generating activities.”

For operators already working in the sector, the new funding is expected to speed up expansion plans.

The chief executive of Darway Coast Nigeria Limited, Mr Henry Ureh, said the support will allow companies to scale faster and reach more communities that have remained off the national grid for years.

“Access to reliable electricity allows us to expand our operations, support local businesses, and create jobs in the communities we serve,” he said.

Nigeria’s off-grid power space has been growing steadily, but access remains uneven. Data from the Africa Solar Industry Association shows that the country currently has over 4.8 gigawatts of installed solar capacity, but only about 115 megawatts come from mini-grids serving rural communities.

The IFC has been one of the biggest institutional backers of this segment. Last year, it announced a separate $16 million financing package for Nigerian developer Virtuitis to build 97 mini-grids expected to serve over 140,000 off-grid consumers by 2027, showing a steady increase in international interest in decentralised power solutions.

With grid supply still unreliable in many parts of the country, mini-grids are increasingly becoming the most practical solution for rural electrification as they supply adequate but limited power for limited power consumption.

For many communities, the impact goes beyond electricity. Reliable power is expected to support trading activities, agro-processing, small manufacturing and education, all of which have struggled under years of unstable supply. But operators also warn that sustained policy support and stable regulation will be key to scaling beyond pilot-level projects.

As deployment begins across the 315 sites, observers are keen on understanding how quickly these projects can move from funding to actual connections to where they are needed.

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Oyo Introduces Daily Environmental Sanitation

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dumping wastes in open spaces

By Aduragbemi Omiyale

As part of efforts to ensure a cleaner and healthier environment, a daily environmental sanitation monitoring and enforcement system has been introduced by the Oyo State government.

At a press briefing to mark his first 100 days in office, the Commissioner for Environment and Natural Resources, Mr Ademola Aderinto, explained that the government has shifted from the traditional monthly environmental sanitation exercise to a more proactive system that encourages residents to take responsibility for maintaining cleanliness on a daily basis.

He noted that this approach is being reinforced by continuous monitoring and enforcement by environmental health officers

“We are now enforcing daily environmental sanitation. Our officers are on the field every day to ensure compliance, and cleanliness must become a daily responsibility,” he stated.

According to him, to strengthen operations, the government has re-engaged 930 Environmental Vanguards, sweepers, and waste packers, while also procuring two brand new compactor trucks with the support of Governor Seyi Makinde to enhance waste evacuation.

Highlighting the ministry’s achievements, the Commissioner said the ministry has expanded its impact through strategic workforce deployment and innovation, adding that the 930 Environmental Personnel has been structured to improve enforcement and sanitation coverage.

Mr Aderinto hinted that with sweepers now operating twice daily to ensure cleaner roads across the state, while also benefiting from enrolment in the Oyo State Health Insurance Scheme.

The ministry also launched the Oyo Soro Soke (Oyo SSS) Environmental Whistleblower platform accessible via mobile applications and WhatsApp, empowering residents to report environmental violations and promote community participation in environmental governance.

In addition, the ministry strengthened operational capacity by introducing a first-of-its-kind waste segregation system across government offices, and initiated Public-Private Partnerships for the construction of modern public toilets.

The Commissioner expressed gratitude to the Governor for the opportunity to serve, assuring that the confidence reposed in him will not be misplaced, also appreciating members of the Executive Council for their strong inter-ministerial collaboration, as well as the Permanent Secretary, Dr Sunday Ojelabi, for his support.

Highlighting other achievements, he noted improved media engagement by the Ministry, with regular press briefings and public advisories on issues such as flooding, heat waves, cholera, and Lassa fever.

The Commissioner added that the Ministry has regulated charcoal production through a structured framework, commemorated World Earth Day with tree planting, intensified efforts to end open defecation, and strengthened interventions against diseases through inspections and environmental monitoring.

Reaffirming his commitment, Mr Aderinto assured residents that the Ministry will sustain and build on these gains, saying, “The future of our environment in Oyo State is bright. What we have achieved in 100 days is only the beginning.”

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Petrol Station Owners Urge Domestic Gas Utilisation

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12.5kg Cooking Gas Refill Price

By Adedapo Adesanya

The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has urged the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) to prioritise policies that promote domestic gas utilisation.

The association recommended that NUPRC strengthen measures to ensure price stability and long-term energy security for Nigerians, as indicated in a statement by its national public relations officer, Mr Joseph Obele.

The call comes alongside PETROAN’s commendation of the choice of Mr Magnus Abe as NUPRC Board chairman.

PETROAN national president, Dr Billy Gillis-Harry, cited Mr Abe’s prior roles as a National Assembly lawmaker, Secretary to the Rivers State Government, and former board member of the Nigerian National Petroleum Company (NNPC) Limited, meaning he has extensive knowledge of Nigeria’s oil and gas sector and its operational dynamics.

PETROAN also lauded NUPRC’s collaboration with the Nigeria LNG Limited (NLNG), which has committed 100 per cent of its LPG production to the domestic market.

Mr Gillis-Harry projected that this would reduce cooking gas prices and other gas-based products soon.

The association highlighted NUPRC’s efforts to remove regulatory bottlenecks, improve ease of doing business, and sustain stakeholder engagement to meet rising domestic gas demand and shield the market from global volatility.

PETROAN emphasises that a stable upstream sector will have far-reaching benefits across the petroleum value chain, including enhanced product availability, reduced energy costs, job creation, and overall economic growth, stating it would support policies and reforms in Nigeria’s petroleum industry.

Other PETROAN recommendations included sustaining regulatory reforms, accelerating gas infrastructure and distribution networks to ensure efficient delivery of gas to end-users nationwide; continuous and structured stakeholder engagement to promote transparency, policy consistency, and industry-wide collaboration; and maintaining structured stakeholder engagement.

It also urged collaborating with the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to activate government-owned refineries, expressing confidence in Abe’s leadership and reiterated its support for policies fostering a competitive and transparent petroleum industry.

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