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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

Olabode Adeyeri Becomes Lagos Island LG Chairman’s Chief Press Secretary

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Olabode Adeyeri Lagos Island LG chair CPS

By Dipo Olowookere

The publisher of Citizen Magazine and Citizen NewsNG, Mr Olabode Adeyeri, has been appointed as the Chief Press Secretary (CPS) to the Lagos Island Local Government Chairman, Mr Taiwo Ajibade Oyekan.

The council boss disclosed that the appointment of the seasoned journalist, writer, and communications professional reflects his administration’s commitment to effective governance through strategic communication.

Business Post gathered that the appointment of Mr Adeyeri became effective on Wednesday, April 1, 2026.

The appointee will use his extensive experience in media practice and public engagement to strengthen the local government’s communication framework, enhance transparency, and improve the dissemination of policies and programmes to the public.

“The appointment of Mr Adeyeri is a deliberate step towards strengthening our engagement with the public and ensuring that our policies and programmes are communicated clearly and effectively.

“We are confident that his wealth of experience in journalism and communications will further improve transparency and deepen public trust in our administration,” Mr Oyekan was quoted as saying in a statement.

“We believe Mr Adeyeri will play a key role in projecting the vision of this administration and strengthening the bridge between the government and the people,” the council chief added.

Mr Adeyeri holds a Bachelor of Science degree from Olabisi Onabanjo University and a Master’s degree from the University of Lagos. Between 2011 and 2018, he worked with Globacom Nigeria Limited, where he served as Corporate Support Executive and Glo 1 Business Support Executive.

He established Citizen Communications Network in 2010. The company publishes Citizen Magazine and Citizen NewsNG.

Described as a prolific journalist and community development enthusiast, Mr Adeyeri is widely regarded as a result-driven professional and committed scholar, with a passion for advancing progressive ideals and contributing meaningfully to societal development.

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Energia Appoints Oladimeji Bashorun as CEO After Chris Egonu Exit

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Energia

By Adedapo Adesanya

Energia Limited has announced the appointment of Mr Oladimeji Bashorun as its chief executive to lead its next phase of growth following the exit of Mr Chidi Egonu.

Mr Bashorun, who previously served as the company’s Chief Operating Officer (COO), steps into the role after years of providing strategic and operational leadership within the organisation.

During his tenure as COO, he was at the helm of the company’s operations, driving operational efficiency and supporting the company’s long-term growth strategy.

A seasoned oil and gas professional with over two decades of industry experience, Mr Bashorun held several technical and leadership roles at Shell Petroleum Development Company and later at Sahara Upstream before joining Energia.

In these positions, he contributed to operational leadership, asset management, and initiatives focused on improving operational stability and performance, according to a statement by the company.

Commenting on the appointment, Mr George Osahon, Chairman of the Energia board, said: “Oladimeji Bashorun has demonstrated exceptional leadership and deep industry expertise during his time as Chief Operating Officer.

“His commitment to operational excellence and strategic growth has been instrumental to Energia’s progress.

“The board is confident that under his leadership as the Chief Executive Officer, the Company will continue to strengthen its position as a key player in the industry, while delivering sustained value to its stakeholders.”

Speaking on his new role, Mr Bashorun said, “I am honoured to assume the role of Chief Executive Officer of Energia. Working closely with a talented team that drives the company’s success, I look forward to building on our achievements and advancing Energia’s commitment to operational excellence, responsible energy development, and value creation for our stakeholders.”

Under his leadership, Energia said it will continue to focus on strengthening operational performance, expanding strategic opportunities, and contributing to Nigeria’s energy security, while maintaining its commitment to environmental stewardship and community development.

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Sunu Assurances Picks Olayinka Adaramola as ED for Technical Operations

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SUNU Assurances Nigeria

By Aduragbemi Omiyale

Sunu Assurances Plc has appointed Mr Olayinka Adaramola to its board as an executive director.

The appointee will be in charge of Technical Operations, a statement signed by the company secretary, Taiwo Kuku, disclosed.

Mr Adaramola is an astute insurance professional with over two decades of experience in underwriting, claims and strategic operations, combining technical expertise with academic excellence.

He obtained his Higher National Diploma (HND) in Insurance from Lagos State Polytechnic, Isolo, in 1996 and MBA in Marketing from Ladoke Akintola University of Technology, Ogbomosho, in 2009.

He began his professional career in September 1998 in the General Accident Department of Leadway Assurance Company Limited, where he honed his skills in underwriting different classes of insurance business and survey inspections.

Prior to joining the board of SUNU Assurances Nigeria in February 2026, he served as the Executive Director, Technical Operations of Capital Express Indemnity Insurance Limited.

He has attended various courses within Nigeria and the United Kingdom. He is an Associate Member of the Chartered Insurance Institute of Nigeria (CIIN).

In a related development, Sunu Assurances has announced the resignation of Mrs Olajumoke Bakare from its board with effect from April 1, 2026.

Mrs Bakare served as an independent non-executive director on the board after receiving regulatory approval for her appointment on April 7, 2022.

During her tenure, she served diligently on various board committees and contributed meaningfully to the board’s deliberations.

In accepting her resignation, the board expressed its profound appreciation for Mrs Bakare’s distinguished service, noting her thoughtful contributions, sound judgment, and principled approach to matters before the board.

It further acknowledged that her input significantly influenced both its decisions and overall effectiveness, reinforcing a culture of strong governance rooted not only in technical competence but also in integrity, trust, and composure.

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