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Nigeria Won’t ‘Copy and Paste’ ISSB Standards, Plans Gradual Implementation—SEC DG

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ISSB Standards

By Aduragbemi Omiyale

The implementation of the global sustainability disclosure standards developed by the International Organisation of Securities Commissions (IOSCO) in Nigeria would be gradual, the Director General of the Securities and Exchange Commission (SEC), Mr Emomotimi Agama, has said.

According to the SEC chief, Nigeria will not simply “copy and paste” the framework but will adopt a carefully tailored approach.

Speaking at an investors’ roundtable on the International Sustainability Standards Board (ISSB) over the weekend, he explained that Nigeria, having participated in the taskforce that developed the standards, would continue to support the four pillars on which they were built.

He noted that Nigeria, with its vast natural resources and growing population, “is particularly vulnerable to climate change and is simultaneously pursuing an ambitious sustainable finance agenda.”

“This means: capacity building—working with issuers, auditors, and preparers to ensure they understand and are ready for the new requirements; phased implementation—considering a graduated approach, perhaps beginning with larger, listed entities before expanding to others; assurance framework—developing a robust system for the verification of disclosures to guarantee their credibility; and alignment with local realities—ensuring the global baseline is applied in a way that is appropriate and proportional for our market, while maintaining the core goal of global comparability,” he explained.

Mr Agama added that the commission opted for this method “because we believe that embracing this global baseline will enhance the attractiveness of the Nigerian capital market. It signals to international investors that we are serious about transparency, governance, and managing long-term risk. It has transformed the ISSB from a promising new initiative into the definitive global framework for sustainability disclosures.”

According to him, “The case for adoption is clear: for global comparability, for investor trust, for managing systemic risk, and for reducing complexity. This is no longer a question of if, but of how and when. The journey to a sustainable global economy requires a common language. The ISSB has provided that lexicon. IOSCO has called us to speak about it. At SEC Nigeria, we have answered that call.”

He reaffirmed the agency’s commitment to working with stakeholders domestically and across the IOSCO network to implement the standards effectively.

“The global perspective is one of unity and decisive action. By adopting the ISSB standards, we are not just complying with a global trend; we are actively building a more stable, transparent, and sustainable financial future for Nigeria, for Africa, and for the world,” he said.

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Senate Passes State Police Bill

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Senate Petroleum Industry Bill

By Aduragbemi Omiyale

The bill seeking to establish state police in Nigeria was on Wednesday, June 24, 2026, passed by the Senate during a plenary presided over by the Senate President, Mr Godswill Akpabio.

The piece of legislation was passed today after more than two-thirds of the lawmakers in the red chamber of the National Assembly voted in support via a manual voting process involving the raising of hands.

Before the passage at the plenary, the chairman of the Senate Committee on the Review of the Constitution, Mr Barau Jibrin, presented the panel’s report to his colleagues.

According to him, the bill will transform policing in the country and boost security, as it allows the sub-nationals to create their own policing system.

The bill provides for the Federal Police Service to be headed by the Inspector-General of Police, while the State Police Service will be led by a Commissioner of Police, who will be appointed by the governor of the state, subject to confirmation by the state’s House of Assembly.

To prevent the misuse of state police against political opponents or critics, ensuring that any action taken against such individuals or groups complies with due process and existing laws, the bill prohibits the Commissioner of Police of a state from arresting, detaining, investigating, or deploying force against any critic of the state governor, except in accordance with the law.

After the clauses of the bill were considered at the Committee of the Whole, the bill was passed and will be transmitted to the President for assent into law.

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Daystar Power Expands Nestlé Solar Partnership Across West Africa

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Daystar Power

By Adedapo Adesanya

Daystar Power Group has expanded its renewable energy partnership with Nestlé in West Africa, commissioning solar power systems with a combined capacity of 6.884 megawatts across four manufacturing facilities in Côte d’Ivoire, Ghana, and Senegal.

According to a statement, the deployments bring the total installed capacity across Nestlé’s sites to 6,884 kWp, nearly 7 megawatts, making it one of the largest commercial and industrial solar partnerships in the region.

The four sites, two in Abidjan, one in Tema, and one in Dakar, are all fully operational, with each system designed around the specific grid and operational profile of its location.

“Nearly 7 megawatts across four Nestlé facilities is a number we are proud of, but what it represents matters more than the figure itself. It means that one of the world’s most demanding manufacturers has tested our model, trusted it, and come back. Our job now is to keep earning that, across every market where industry needs energy it can count on,” Mr Yischai Beinisch, CEO, Daystar Power Group said in a statement.

The partnership began with a single commissioning and expanded to span three countries and four facilities. In Côte d’Ivoire, Daystar Power has delivered 3,447 kWp across two Abidjan sites. In Ghana, a 2,547 kWp system powers Nestlé’s Tema factory. In Senegal, an 890 kWp installation operates at the Dakar facility.

The company said each system is sized and configured to deliver measurable environmental and social impact, including reduced greenhouse gas emissions and improved energy resilience. The design is tailored to the operational and grid conditions at each location, ensuring reliable, clean energy access while supporting local development and aligning with Nestlé’s publicly stated net-zero commitments.

Adding his input, Mr Samer Chedid, CEO, Nestlé Central and West Africa Region, said the investment reflects its commitment to building a business that not only grows but does so responsibly.

“By advancing solar energy projects in Ghana, Côte d’Ivoire, and Senegal, we are embedding sustainability into our growth, reinforcing our role as a force for good, creating long-term value for communities, and ensuring that our footprint actively contributes to a cleaner, more resilient future,” he said.

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Nigeria Adopts New Security Framework to Safeguard Oil Assets

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oil assets

By Adedapo Adesanya

Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Federal Ministry of Defence have agreed to deepen collaboration on the protection of critical oil and gas infrastructure through a new non-kinetic security framework designed to curb threats, strengthen community relations and sustain rising output.

The initiative comes as Nigeria recorded crude oil production of nearly 1.8 million barrels per day, one of the highest production levels in recent years, amid intensified efforts to combat crude oil theft, pipeline vandalism and other security challenges across the Niger Delta.

Speaking during a courtesy visit by a delegation from the Ministry of Defence to the Commission’s headquarters in Abuja, the chief executive of NUPRC, Mrs Oritsemeyiwa Eyesan, said the country’s recent production gains were directly linked to coordinated interventions involving security agencies and industry stakeholders.

“Today, we are benefiting from those efforts. Last month, we recorded production of nearly 1.8 million barrels per day throughout the month,” Mrs Eyesan said.

She noted that sustained investments in security operations, technology deployment and human capacity development had significantly improved production stability and operational efficiency in the upstream petroleum sector.

According to her, maintaining and expanding the gains has become critical as Nigeria seeks to increase crude oil output, attract fresh investments and maximise revenue generation from the petroleum industry.

“As we look to the future, we desire to grow production and must have assurances that security threats can be effectively managed. We can only achieve this through stronger collaboration with security agencies and industry stakeholders,” she stated.

Mrs Eyesan stressed that safeguarding oil and gas assets remains central to Nigeria’s energy security strategy and economic growth objectives, noting that production assurance has become a key requirement for investors considering new upstream projects.

She disclosed that the Commission was exploring wider deployment of advanced technologies, including drone surveillance systems, to improve monitoring of the country’s vast oil and gas infrastructure network and detect threats before they escalate into operational disruptions.

The NUPRC boss further revealed that the Commission would work closely with operators to refine and implement a new security framework, while providing leadership in stakeholder engagement and governance structures needed to ensure long-term sustainability.

The Minister of Defence, Mr Christopher Gwabin Musa, said the Ministry was introducing a non-kinetic security intervention model aimed at addressing the underlying causes of insecurity in oil-producing communities.

Rather than relying solely on military operations, he explained that the strategy would focus on community engagement, youth empowerment and social inclusion programmes to build lasting peace around critical energy infrastructure.

“One of the best ways to engage youths in oil-producing areas is through sports-based interventions,” Mr Musa stated.

He explained that the initiative would utilise sports development programmes to channel youthful energy into productive activities, reduce vulnerability to criminal networks and strengthen community ownership of critical national assets.

The Defence Minister, who was represented by one of his aides, added that the intervention would also include structured programmes for persons living with disabilities, creating broader opportunities for participation and economic inclusion in host communities.

According to him, the initiative aligns with the Host Community Development provisions of the Petroleum Industry Act (PIA) and is expected to strengthen relationships between operators and host communities while promoting sustainable development.

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