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AfDB Provides $2m for Youth, Women Empowerments

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AfDB Nigeria Country office

By Dipo Olowookere

Nearly $2 million has been provided by the African Development Bank (AfDB) for its Youth in Africa initiative under the Fund for African Private Sector Assistance (FAPA).

FAPA, of which the Government of Japan is a major donor, along with the Austrian Government and the AfDB, will contribute $923,570 and $988,202 to finance the bank’s Fashionomics Africa Digital Marketplace and Entrepreneurship & Innovation Lab (eLab) programs, respectively. Both programs form key components of the bank’s Jobs for Youth in Africa Strategy, which invests in high-growth sectors with potential to promote youth and women’s empowerment, as well as create 25 million jobs over the next decade.

“Africa hosts the world’s youngest population, which will double to almost one billion by 2050. The continent needs to create jobs much faster, particularly for women and youth,” said Vanessa Moungar, Director of Women, Gender and Civil Society Department at the Bank.

“FAPA’s generous support will go a long way to accelerating the Jobs for Youth Entrepreneurship & Innovation Lab and Fashionomics Africa Digital Marketplace programs that contribute to meeting these needs,” Moungar further remarked on Thursday, 13 September 2018, during the funding announcement event, which was themed “Entrepreneurs 2.0 – When fashion meets technology”.

Attended by bank staff, dignitaries, public and private sector stakeholders, the event was also graced by fashion designer PatheO’, known for making the distinctive, colourful shirts worn by the late Nelson Mandela and Salimou Bamba, Managing Director of Abidjan-based SME development firm, AGENCE CI PME.

The Fashionomics Africa Digital Marketplace and Entrepreneurship & Innovation Lab (eLab) programs align with FAPA’s vison to create an investment-friendly climate for micro, small and medium-scale enterprises (MSMEs) on the continent. They will also provide platforms for strengthening and promoting entrepreneurship that target women and youth-led businesses.

Launched in 2015, the bank’s Fashionomics Africa initiative supports its ‘High 5’ priorities, in particular, the Jobs for Youth in Africa and Industrialization agenda.

FAPA’s latest support for this initiative will enable the development of the digital platform and application designed to increase and facilitate access to markets and finance; provide access to relevant information, mentorship and networking opportunities as well as develop the skills, competencies and qualifications of African designers and fashion entrepreneurs.

The eLab program will provide innovative young entrepreneurs with financing, technical assistance and broader ecosystem support.

With eLab, “We aim to support the next generation of business owners across the continent,” said Babatunde Olumide Omilola, Manager for Public Health, Security and Nutrition at the Bank. “Target beneficiaries are businesses started by young people and intermediaries that support business development, focusing on the three sectors identified as priorities by the Jobs for Youth in Africa strategy, namely agriculture, Information and Communication Technology and industry.”

Addressing bank staff and guests, Mr Takuji Yano, AfDB’s Executive Director for Japan, Saudi Arabia, Argentina, Austria and Brazil said: “Both projects focus on promoting entrepreneurship and ICT tools as drivers for development. By leveraging technology, African countries can enhance understanding of markets, expand education and employment, and deliver monetary benefits for the informal sector and government alike. We are happy to see this diverse, innovative and creative portfolio of FAPA’s proposals.”

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via [email protected]

Jobs/Appointments

NMDPRA Denies Fake Employment Alert, Warns Unsuspecting Job Seekers

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NMDPRA fee regulations

By Adedapo Adesanya

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has clarified that the viral report suggesting that it is currently employing new staff is the “handiwork of fake recruitment syndicates established to mastermind fraudulent activities.”

In a Monday statement posted on its official X handle, NMDPRA expressed that it was compelled to publish the disclaimer to alert the public against such activities due to what it described as “exploiting young economically vulnerable and unsuspecting Nigerians perhaps into parting with huge sums of money for purported employment opportunities into the authority.”

“They do this by issuing bogus “Letters of Employment” and empty promises, as well as offering non-existent positions. These may well be the handiwork of fake recruitment syndicates established to mastermind these fraudulent activities.

“We wish to use this opportunity to state categorically that the NMDPRA is NOT conducting any recruitment exercise currently. Neither is the Agency undertaking any kind of employment in its services at any level. For the avoidance of doubt, any future recruitment exercise would be undertaken in accordance with extant rules guiding such exercises in the Nigerian Public Service,” the organisation emphasised.

The agency further advised the public to disregard these fake employment advertisements and urged them to visit its official website and social media pages to verify any recruitment claims.

The statement added, “In this regard therefore, we would like to advise the public and all Nigerians to ignore these spurious claims by unscrupulous people whose only objective is to defraud Nigerians and cast aspersion on the authority.

“We further advise that for current and up to date information regarding all our activities, kindly refer to our official corporate website: www.nmdpra.gov.ng as well as all our verified online social media outlets (i.e. Facebook, Linkedln and Instagram) for authentic information.”

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Aradel Appoints Nnoli Akpedeye as Independent Non-Executive Director

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Nnoli Akpedeye

By Adedapo Adesanya

Aradel Holdings Plc has appointed Ms Nnoli Akpedeye as an Independent Non-Executive Director, effective February 2, 2026, following a resolution passed at the company’s board meeting held on January 28, 2026.

In a notice to shareholders, Nigerian Exchange (NGX) Limited, and the investing public, the company disclosed that the appointment is subject to ratification by shareholders at its next Annual General Meeting (AGM). The board also authorised the Company Secretary, Mrs Titiola Omisore, to notify relevant regulators and take all necessary steps to give effect to the decision.

Ms Akpedeye brings more than 36 years of multi-disciplinary experience spanning oil and gas, engineering, legal and arbitration services, and management consulting. Her career reflects a strong blend of technical expertise and strategic leadership, with competencies in management and strategy, business process engineering, organisational development and change management, as well as entrepreneurship development.

Until 2014, she served as Technical Planning Manager for Shell Exploration and Production Companies in Nigeria, where she led the execution of high-impact, mission-critical projects. Over the course of her career at Shell, she held roles across civil engineering design, planning and construction, project management, facility management, technical audit, and business planning and strategy, gaining extensive local and international exposure.

Beyond her corporate career, Ms Akpedeye is an entrepreneur and advocate for capacity building in engineering and energy. She runs Contego Servo Limited and Perfectus Laundi Limited, and in 2013, she launched the “Introduce a Girl to Engineering” programme aimed at encouraging secondary school girls in Nigeria to pursue careers in engineering and related STEM fields.

She is a Council for the Regulation of Engineering in Nigeria (COREN)-registered engineer, a Fellow of the Nigerian Society of Engineers (FNSE), and a past President of the Association of Professional Women Engineers of Nigeria (APWEN). She is also a founding member of the Women in Energy Network (WIEN) and serves as a passionate ambassador for science, technology, engineering and mathematics education.

In addition, Ms Akpedeye is the Chief Operating Officer (COO) of Compos Mentis Legal Practitioners and the Chairman of the Board of Trustees of the Compos Mentis Foundation.

Her appointment further strengthens Aradel Holdings’ board with deep industry knowledge, governance experience, and a strong track record in leadership and institutional development, as the company continues to pursue its strategic objectives within Nigeria’s energy landscape.

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Geregu Power Chooses Sean Manley as Interim CEO

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Geregu Power

By Aduragbemi Omiyale

An interim chief executive has been appointed by Geregu Power Plc and he is Mr Sean Manley, with his appointment to take effect from Monday, February 2, 2026.

A statement from the power generating firm disclosed that his appointment is subject to the approval of the Nigerian Electricity Regulatory Commission (NERC) and the shareholders of the company at the next general meeting.

In the notice, the organisation expressed confidence that the appointee would use his wealth of experience and leadership to “add significant value to the company.”

Mr Manley is said to be “a seasoned power-sector professional with a proven track record in delivering complex energy projects in developing markets.”

He is armed with more than 30 years’ experience spanning sales, business development, project implementation, supply-chain management, and OEM-led delivery within the power sector.

Over the course of his career with Siemens, Mr Manley has developed deep technical and operational expertise in thermal power generation, covering plant construction, commissioning, major overhauls, and long-term operational support.

He is widely regarded as a practical problem-solver, with a demonstrated ability to close projects in challenging operating environments and brings extensive international experience and strong intercultural skills acquired across multi-jurisdictional engagements.

His areas of expertise include the delivery of large, complex infrastructure projects, management of multi-million-dollar business units, client and stakeholder relationship management, business and market development, as well as logistics and procurement analysis critical to successful project execution.

The appointment of Mr Manley comes after Mr Femi Otedola divested his stake in the energy firm last month to support the recapitalisation of First Bank of Nigeria, a subsidiary of FBN Holdings Plc, which he chairs.

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