General
Shettima Sells Nigeria’s $200bn Energy Transition Opportunity to Investors
By Adedapo Adesanya
The Vice President, Mr Kashim Shettima, has showcased Nigeria’s $200 billion energy transition opportunity to investors, emphasizing the need for partnerships to maximize the multi-faceted, multi-billion investment opportunities across the country.
Mr Shettima highlighted Nigeria’s sovereign rating by platforms like Fitch and Moody’s implies the country is positioned as the natural hub for the African Continental Free Trade Area (AfCFTA) $3.4 trillion market.
He seized the moment to draw the attention of investors worldwide to the multi-billion, multi-faceted economic resets across Nigeria, as embodied by President Bola Ahmed Tinubu’s Renewed Hope Agenda.
Mr Shettima stated this at the Roundtable hosted by the Business Council for International Understanding (BCIU) with the theme Risk, Reform, Return, held on the margins of the 80th Session of the United Nations General Assembly (UNGA) in New York City.
The VP, representing President Bola Tinubu at UNGA80, highlighted that in this interconnected age, the wealth of any nation is neither achieved through miracles nor inherited.
Showcasing the wealth of the nation, he began by saying that Nigeria is West Africa’s largest economy and Africa’s largest consumer market, with 236 million people today, projected to reach 320 million by 2040.
Beyond being a demographic giant, Mr Shettima pointed out that with a median age of about 17, more than 58 percent of whom are under 30, Nigeria is home to one of the deepest talent pools in the world.
“When you add to this our geographic position as a natural hub for trade between Africa, the Americas, and Asia; our 44 distinct natural resources; our five tech unicorns; the largest oil reserves in Africa; and 210 trillion cubic feet of proven gas reserves, you see that Naija no dey carry last,” he added.
The Vice President told the global audience that since mid-2023, under President Bola Ahmed Tinubu’s Renewed Hope Agenda, Nigeria has embarked on one of the boldest economic resets in its history.
He cited the unification of Nigeria’s exchange rates, the removal of decades-old fuel subsidies that distorted the Nigerian economy, the modernization of Nigeria’s tax and customs regimes, strengthened fiscal oversight, and the overhaul of Nigeria’s trade and investment policies as shining examples of the Renewed Hope reforms.
“This reset includes full implementation of the AfCFTA, the roll-out of a National Single Window for trade, a new Investment and Securities Act, an upgraded PPP framework, and modernized bilateral investment treaties. The results are already visible. Our GDP growth is accelerating, our external reserves are strengthening, and inflation is moderating. This is why investor commitments are also rebounding,” he stated.
Stressing Nigeria’s vast economic transformation and potential, Shettima recalled that in April, Fitch upgraded Nigeria’s sovereign rating to B with a stable outlook, and Moody’s lifted its issuer rating to B3 with a stable outlook.
He highlighted that the two rating platforms cited Nigeria’s improved buffers and clearer policy direction as their barometer, adding that this positions Nigeria as the natural hub for the AfCFTA’s 3.4 trillion-Dollar market.
“We have also built a four-pillar incentives framework designed to reduce investor risk, accelerate cash returns, and make Nigeria one of the most competitive destinations for capital in the Global South. A simpler, predictable tax regime now offers clear capital allowances, research and development deductions, and export-linked rebates, while investors in priority sectors can achieve faster breakeven through five percent annual tax credits on qualifying capital expenditure.”
He also shared with the audience that in Nigeria’s Special Economic Zones, the federal government offers duty-free imports, rent concessions, rebates on non-oil export proceeds, and integrated logistics platforms that unlock working capital for exporters.
“Cross-border protections now include updated bilateral investment treaties, investor promotion and protection agreements, structured repatriation pathways, and streamlined FX access. These give investors confidence that their capital and profits are protected,” he said.
The Vice President added that the nation’s Special Agro-Industrial Zones are reducing post-harvest losses by up to forty percent and linking farmers directly to processing and export hubs, transforming Nigeria from a fragmented producer into a continent-scale food system serving millions across West Africa.
On energy, the Vice President disclosed that “With 210 trillion cubic feet of gas reserves and one of the highest solar irradiation levels in Africa, Nigeria offers a 200-billion-dollar energy transition opportunity.”
He stressed that fiscal incentives and VAT waivers are de-risking investment in both traditional and renewable power assets, from gas-fired independent power plants to off-grid solar and clean hydrogen pilots.
Mr Shettima noted that while Nigeria faces $1 billion annual gap in transport, ports, and power infrastructure, through InfraCorp and the Nigeria Sovereign Investment Authority, the government is blending sovereign and private finance to fund metro lines, dry ports, and industrial corridors, building the backbone of West African trade and creating long-term revenue streams for investors.
“Special Economic Zone clusters now host over five billion dollars in installed industrial capacity, with backward-integration incentives and AfCFTA corridors opening a multi-billion-dollar continental market. These reforms are transforming Nigeria into Africa’s production floor and innovation lab,” he said.
The Vice President maintained that Nigeria hosts forty-four commercially viable minerals worth over seven hundred billion Dollars under a new beneficiation and security regime.
He said investors can secure early positions in lithium, gold, bitumen, and rare earths critical to the global green transition.
General
Pastor Ogbueli’s Abuja Night of Glory Holds Today
By Blaise Udunze
Momentum is gathering for the Abuja Night of Glory taking place today, Friday, December 5, 2025, at the main bowl of the Moshood Abiola National Stadium.
The crusade is being hosted by Dominion City Church headed by Pastor David Ogbueli and it starts by 7pm.
The all-night programme will feature dynamic worship leaders like Nathanial Bassey, Dunsin Oyekan, Theophilus Sunday, Chioma Jesus, Kaestrings, Sunmisola Agbebi Okeleye, Minister GUC, Ebuka Songs, Anthony Kani, and DC Angels.
Reputed as a teacher of righteousness and anointed minister of the gospel, evidenced by the miracles that have trailed his ministry, and one who champions the cause of the poor through empowerment initiatives, Dr. David Ogbueli will be joined by renowned ministers from within and outside Nigeria, including Evangelist Andres Bisonni, Dr. Charles Ndifon, Evangelist Dan Scott, Apostle Ikechukwu Nnajiofor, and several others.
Night of Glory has, in previous editions held across Nigeria’s cities, recorded remarkable results, such as immediate healings and freedom from chronic ailments, recovery of vision and movement after many years of paralysis, along with liberation from dependencies and emotional distress. Numerous participants have also shared testimonies of breakthroughs and big personal changes after the experience. Organisers state that this year’s event, in Abuja, is anticipated to exceed previous editions.
The event is intended for all individuals trusting God for divine intervention in any area of life.
Understanding the role of faith in the destiny of individuals and nations, a dedicated prayer session for Nigeria will take place during the crusade to tackle some of the current challenges being faced in the country and also to uplift he leaders and institutions before God.
Attendance is free, and registration is encouraged via the QR codes on event banners. Organisers expect a massive turnout as worshippers travel from across the country for what is anticipated to be a transformative encounter.
Adequate security and free transportation have been put in place ALL over the city of Abuja, while those outside Abuja are expected to join online.
General
Rivers Speaker, 15 Other Lawmakers Leave PDP for APC
By Modupe Gbadeyanka
The Speaker of the Rivers State House of Assembly, Mr Martin Amaewhule, has defected to the All Progressives Congress (APC).
At the plenary on Friday, Mr Amaewhule joined the ruling party from the opposition Peoples Democratic Party (PDP), along with 15 other members of the state parliament.
This development comes some months after they had earlier declared their support for the APC in the wake of a crisis with the state governor, Mr Sim Fubura.
The lawmakers had an issue with Mr Fubura, which led to a state of emergency declared on the oil-rich state by President Bola Tinubu in March 2025.
This embargo was only lift in September 2025 after the duration of the six-month emergency rule in the state.
A few days ago, members of the Rivers Assembly passed a vote of confidence on President Tinubu, backing him to remain in office till 2031, when he would have spent eight years in office if re-elected in 2027.
Announcing their defection today, the lawmakers pinned their decision on the crisis rocking the PDP at the national level.
It is not certain if their political godfather, Mr Nyesom Wike, who is the current Minister of the Federal Capital Territory (FCT), will join them in APC.
Mr Wike, who governed Rivers State from 2015 to 2023, has been accused of instigating the crisis in the opposition PDP. He was expelled from the party last month at a national convention held in Ibadan, Oyo State.
General
Nigeria Risks Brain Drain in Energy Sector—PENGASSAN
By Adedapo Adesanya
The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has warned that Nigeria risks massive brain drain in the oil and gas sector due to poor remuneration.
The president of PENGASSAN, Mr Festus Osifo, said at the end of the National Executive Council (NEC) meeting of the union on Thursday in Abuja that the industry was facing challenges arising from Naira devaluation and inflation, noting that, oil and gas skills remained globally competitive.
Painting an example, he said, “A drilling engineer in Nigeria does the same job as one in the US or Abu Dhabi,” noting that the union must take steps to bridge the wage gap to prevent members from leaving the country for better opportunities abroad.
“If we don’t act, the brain drain seen in other sectors will be child’s play,” he said.
According to him, PENGASSAN has recorded significant gains through collective bargaining across oil and gas branches.
“We signed numerous agreements across government agencies, IOCs, service and marketing sectors,” he said.
He said the agreements brought relief to members facing rising costs of living, adding that, the association’s duty is to protect members’ jobs and enhance their pay.
Mr Osifo urged companies delaying salary reviews and those foot-dragging as a result of the prevailing economic realities, to do the needful.
He said the industry employed some of the nation’s best talents, making competitive pay critical to retaining skilled workers.
“This industry recruits the best. Companies must provide the best conditions,” he said.
On insecurity, Mr Osifo urged government to take decisive action against terrorism and kidnappings across the country.
“We are tired of condemnations. government must expose sponsors and protect citizens,” he said.
He urged government at all levels to prioritise tackling insecurity through better funding and equipment for security agencies.
Mr Osifo said PENGASSAN supported calls for state police to improve local security response, adding that decentralising policing will protect citizens better than rhetoric.
He also said economic indicators meant little, if food prices remained high and farmers could not return to farms due to insecurity.
“Nigerians want to see food on the table, not macroeconomic figures,” he said, urging the government to coordinate fiscal and monetary policies to ensure economic gains reach households.
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