General
Osinbajo Encourages Africa-Focused Energy Transition Drive
By Adedapo Adesanya
Vice President Yemi Osinbajo has the energy transition drive must be fair and sensitive to Africa’s peculiarities and priorities.
The current global energy transition has been regarded as both an opportunity for the preservation of the earth and a vehicle for unlocking the development potential and livelihoods of millions of people, especially those in developing countries.
Speaking virtually at the 2022 Standard Bank Climate Summit themed Africa’s Path to Carbon Neutrality, he said that energy transition is a developmental opportunity and called on Africa to engage critically and vocally.
The Standard Bank Group has committed to achieving net zero carbon emissions from its operations for newly built facilities by 2030, for existing facilities by 2040, and from its portfolio of financed emissions by 2050.
Giving a speech on how to manage the energy transition to net zero in the context of Africa’s unique challenges, such as energy poverty, Mr Osinbajo said the global community must account for diverse realities and accommodate various pathways to net zero.
“The current energy transition is an opportunity like none other for the preservation of the planet, but it can also be a vehicle for unlocking the development potential and livelihoods of millions of people. There is no reason why we cannot have both,” the VP stated.
“Particularly for African nations which need financial and technical support as well as the flexibility to develop as swiftly as possible. This will ensure a fair and balanced energy transition that leaves no one behind.
“How we manage the global energy transition must be sensitive to Africa’s priorities. The global energy transition must place energy access for both consumptive and productive uses at the heart of climate action,” he added.
Making reference to Nigeria’s Energy Transition Plan as a leading light, Mr Osinbajo said “the value of having a nation-specific, data-driven plan as the basis of our activities and engagements cannot be overemphasized,” adding that “the plan provides a clear financial estimate for the achievement of Nigeria’s energy access and transition goals.”
“Nigeria’s Energy Transition Plan finds that an additional $10 billion over business as usual is required annually till 2060 to shift the entire economy to a net-zero pathway. We hope to see more of such plans on the continent,” the VP noted.
Citing another example of efforts to have a pan-African position on energy transition, Mr Osinbajo said “this is underway with certain countries, including Nigeria developing and signing on to the Kigali Communiqué which came out of the Sustainable Energy for All Forum in June, and outlines principles for a just and equitable energy transition.”
According to him, “we must take ownership of our transition pathways and design climate-sensitive strategies that address our growth objectives. We must clearly and thoroughly articulate our priorities, strategies, and needs.”
Justifying Africa’s stand for a just and balanced energy transition, the Vice President noted that “though Africa’s current unmet energy needs are huge, future demand will be even greater as populations expand, people move into the middle class, and rapid urbanization continues.”
Specifically, the VP observed that in 2020, “Sub-Saharan Africa had 568 million people without access to electricity. This represents more than three-quarters of the world’s total unelectrified population. On the other hand, most developed nations have 100 per cent energy access. Surely, the race to net zero must not leave people in the dark.
“Also, Sub-Saharan Africa remains the only region in which the number of people without access to clean cooking fuels and technologies is rising. 19 of the 20 countries with lowest clean cooking access rates are in Africa.”
He argued that “limiting the development of gas projects, as a critical energy transition pathway for Africa, violates enshrined principles of equity and justice, and poses dire challenges for African nations while making an insignificant dent in global emissions.”
He said, “Africa has contributed the least of any global region to greenhouse gas emissions and currently emits under 4 per cent of global emissions. Under no plausible scenario are Africa’s emissions a threat to global climate targets. Unfounded predictions should not serve as excuses to limit our energy technology options.
“Limiting financing of gas projects for domestic use in Africa would pose a severe challenge to the pace of economic development, delivery of electricity access and clean cooking solutions, and the scaleup and integration of renewable energy into the energy mix.”
On financing the energy transition, Mr Osinbajo said “a balanced and just approach to the energy transition recognizes that finance is key. Lack of access to finance remains the biggest challenge for accelerating action on energy access and climate goals in Africa.”
The VP restated the call on developed countries to bridge the disparity in energy investments, noting that “of the $2.8 trillion invested in renewable energy from 2000 to 2020, only about 2%, $60 billion, came to Africa.”
The International Energy Agency has estimated that Africa will need around $133 billion annually in clean energy investment to meet our energy and climate goals between 2026 and 2030.
By Adedapo Adesanya
The Chairman of the Nigeria Sovereign Investment Authority (NSIA), Mr Segun Ogunsanya, has called for greater mobilisation of domestic capital from local institutions to drive Nigeria’s economic development.
Mr Ogunsanya made the remarks during his address at the Invest in Lagos 3.0 Summit, themed Lagos: The Business Gateway to Africa, urging policymakers and investors to tap funds from pension administrators, insurance firms and banks rather than relying heavily on foreign development finance institutions (DFIs) and external funding sources.
He said Nigeria must move beyond heavy reliance on DFIs and external funding, arguing that significant untapped capital exists within the country’s financial ecosystem.
“I would like to see a deeper level of local capital formation. I’ve seen a lot of emphasis on DFIs and the money coming in from outside the country. But if you look deeply, we need to find ways of harnessing local capital, capital from pension funds, capital from insurance companies, capital from banks,” he said.
According to him, domestic pension funds, insurance assets and banking liquidity represent a sustainable source of long-term financing that can be structured to support infrastructure through Public-Private Partnership (PPP) frameworks.
Mr Ogunsanya disclosed that NSIA is currently anchoring a $1 billion infrastructure fund in collaboration with the International Finance Corporation (IFC), designed to strengthen infrastructure investment and de-risk large-scale projects.
“A couple of days ago, we just got some confirmation from IFC. They’re going to be part of a $1 billion fund that we’re anchoring. This $1 billion fund is to provide some sort of guarantee for infrastructure investment,” he said.
He explained that the fund would cover key stages of infrastructure delivery, including project preparation, project development, risk guarantees and risk capital support.
“The World Bank IFC just came in again, and this funding is meant to cover four different areas of any infrastructure investment — the project preparation phase, the development phase, those who want guarantees, and also to provide the risk capital itself,” he said.
Mr Ogunsanya noted that the initiative is aimed at improving project bankability while ensuring strict financial discipline and due diligence in investment selection.
By Adedapo Adesanya
The Oyo State Police Command has revealed that a person attached to a member of the family of former Minister of Power, Mr Adebayo Adelabu, allegedly worked in collaboration with kidnappers to abduct his sister and her two children in Ibadan.
Police spokesperson, CSP Olayinka Ayanlade, disclosed that preliminary investigations indicate an insider role in the operation, suggesting that the abduction may have been facilitated by someone close to the family.
Mrs Olaide Busayo Adegoke John-Paul and her 12-year-old twin sons, Peter and Paul, were abducted on June 3, 2026, at the Elewura area of Challenge, Ibadan.
The victims regained their freedom on Saturday (June 6) after a coordinated intelligence-led operation by operatives of the Force Intelligence Department–Intelligence Response Team (FID-IRT) and the Oyo State Police Command.
According to the Command in its latest update, the suspect allegedly provided support to the kidnappers during the incident, which led to the abduction of the victims in Ibadan, Oyo State.
Security operatives said investigations are ongoing to track down all individuals connected to the crime and ensure the safe rescue of the victims.
The police assured residents that efforts are being intensified to dismantle the network behind the kidnapping and bring all perpetrators to justice.
On Monday, the Oyo State Government demolished a three-bedroom bungalow allegedly used as a hideout by kidnappers involved in the abduction of the younger sister of the former Minister of Power and her twin sons.
The property, located at Lakoun Estate along Olomi-Olojuoro Road in Oluyole Local Council of Oyo State, was pulled down by officials of the state Ministry of Public Works and Transportation, accompanied by operatives of the Nigeria Police Force.
Officials added that the demolition also underscores the government’s determination to confront rising security threats and send a strong message to criminal elements operating within the South West state.
The Ojude Oba Festival is no longer merely one of Nigeria’s most celebrated cultural gatherings; it is rapidly emerging as one of Africa’s most influential cultural brands.
A newly released Media Intelligence Report by P+ Measurement Services reveals that Ojude Oba 2026 recorded its strongest media performance to date, achieving significant growth across audience reach, media visibility, social engagement, international attention and digital discoverability.
The report analysed media conversations and coverage generated between May 20 and June 5, 2026, across print, online, social media and broadcast platforms, while benchmarking performance against the 2025 edition of the festival.
The findings paint a compelling picture of a cultural institution that is not only preserving heritage but also increasingly shaping conversations across modern media ecosystems.
According to the report, total media mentions grew by 56 per cent year-on-year, increasing from 18,420 mentions in 2025 to 28,735 mentions in 2026. Audience reach expanded even more dramatically, growing by 75 per cent from 124.8 million to 218.6 million people globally.
Social media emerged as the primary engine of visibility, generating over 81,000 public conversations during the monitoring period, representing an 88 per cent increase compared to the previous year. Engagements more than doubled, rising by 115 per cent from 3.9 million interactions in 2025 to 8.4 million interactions in 2026.
Perhaps most notable was the improvement in public sentiment.
Positive sentiment increased from 60 per cent in 2025 to 79 per cent in 2026, while negative sentiment declined by half, dropping from 10 per cent to just 5 per cent. Conversations around cultural pride, heritage preservation, fashion, equestrian displays, community identity and the enduring legacy of the late Awujale of Ijebuland, Oba Sikiru Adetona, drove the overwhelmingly positive perception.
The report identified the legacy narrative of Oba Sikiru Adetona as the single most influential thematic driver of media coverage throughout the reporting period.
Unlike previous years, where conversations focused primarily on spectacle and pageantry, the 2026 edition witnessed a deeper engagement with themes of history, leadership, continuity and cultural preservation, elevating the festival beyond entertainment and positioning it as a significant cultural institution.
International visibility also recorded substantial growth.
While Nigeria remained the dominant source of conversations and media coverage, the festival generated measurable attention across the United Kingdom, United States, Canada, France, Germany, South Africa, Ghana, the United Arab Emirates, Kenya and the Netherlands. This expansion contributed to a near doubling of the festival’s global footprint and reflects the growing interest in African cultural experiences among international audiences and diaspora communities.
The report further found that social media accounted for the largest share of total conversations, followed by online news platforms, print publications and broadcast media. Coverage was amplified through extensive reporting by Channels Television, TVC News, OGTV, City People TV, Araba TV and GoldMyneTV, alongside significant digital coverage from leading Nigerian news and entertainment platforms.
Among personalities driving online conversations, Farooq Oreagba once again emerged as the most discussed cultural figure associated with the festival. Other highly visible personalities included Eniola Badmus, Lateef Adedimeji, Rotimi Salami, Jide Awobona and Samuel Banks, whose appearances and social media mentions helped sustain public interest throughout the event period.
Corporate sponsorship continued to play a critical role in the festival’s visibility ecosystem.
Globacom retained its position as the most visible sponsor, followed by Orijin, FCMB, Goldberg, Rite Foods, Maltina, Honeywell Foods, Adron Homes, Maggi, SIFAX Group and Seaman Schnapps. The report notes that brands increasingly view Ojude Oba as a strategic platform for cultural storytelling, community engagement and reputation building.
One of the most significant additions to this year’s report is the application of the AMEC GEO Framework, the newly introduced global measurement model designed to help organisations understand how reputation, content and visibility influence outcomes in AI-driven information environments.
Using the framework’s three core dimensions—Upstream Reputation Signals, Search and Content Readiness, and Downstream AI Outputs—the analysis assessed Ojude Oba’s performance not only in traditional media but also within emerging AI-powered discovery systems.
The assessment found strong performance across earned media authority, cultural relevance, content visibility and reputation consistency. The festival demonstrated growing discoverability within AI-assisted search environments and generated strong indicators for future cultural visibility across generative search platforms.
According to P+ Measurement Services, this represents a fundamental shift in how cultural events should be evaluated.
“Media success is no longer defined solely by coverage volume or impressions,” the report notes. “In an AI-driven information ecosystem, discoverability, authority, narrative consistency and reputation signals increasingly determine whether institutions remain visible, trusted and relevant. Ojude Oba’s performance demonstrates the importance of measuring cultural influence through both traditional media metrics and emerging AI visibility frameworks.”
The report concludes that Ojude Oba has evolved beyond its traditional role as a cultural celebration and now functions as a powerful platform for tourism promotion, economic storytelling, cultural diplomacy, national branding and global heritage engagement.
As governments, tourism agencies, brands and cultural institutions seek new ways to compete for attention in an increasingly fragmented media environment, Ojude Oba offers a compelling case study in how heritage can be transformed into measurable influence, sustained visibility and long-term reputation value.
With record audience reach, stronger public sentiment, expanded international visibility and growing AI discoverability, the 2026 edition marks a defining moment in the festival’s evolution from cultural event to global cultural brand.
-
Feature/OPED6 years agoDavos was Different this year
-
Travel/Tourism10 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz3 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking8 years agoSort Codes of GTBank Branches in Nigeria
-
Economy3 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking3 years agoSort Codes of UBA Branches in Nigeria
-
Banking3 years agoFirst Bank Announces Planned Downtime
-
Sports3 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn