By Yunus Yusuf

Mr Ayo Ademilua, President, Renewable Energy Association of Nigeria (REAN), says no fewer than 80 million dollars is available for energy projects in the country for its members through investors.

Ademilua said this during the Renewable Energy Investment MaMatchmakin event on Wednesday in Lagos.

The News Agency of Nigeria (NAN) reports that the theme for the Renewable Energy Investment Matchmaking is “Energising Partnerships: Connecting Investors To Transformative Renewable Energy Projects”.

The event was sponsored by AllOn in partnership with REAN as an investment matchmaking event.

According to him, REAN members have promising projects that can effectively address the energy challenges in Nigeria using the abundant renewable energy resources available in the country.

“So, aggregately, we have been able to pool about 80 to 100 million dollars that is available for energy projects in Nigeria to members of REAN through all these investors.

“For instance, AllOn has got 25 million dollars for investment in energy projects with a single obligor of $2.5 million, Stanbic Bank is onboard with N30 billion with a single obligor of one billion Naira among others.

“So, I will advise members and developers to take advantage of this opportunity to solve the problem of power in our country,” he said.

The president noted that one of the major setbacks with accessing funds from investors was the lack of knowledge to properly interpret and respond to financial documentation from financiers.

“Our members lack such financial knowledge and this has mostly stopped them from accessing available funds in the sector,” he said.

Ademilua said that a solution had been provided to this bottleneck through partnership with AllOn which would be providing an incubation hub (AllOn Hub) which would give access to 30 members of REAN.

“This hub will enable members to develop their corporate structure, help them with their corporate governances, and provide a solution to help them to cross the bridges hindering access to funds.

“The hub will help them to be able to access the funds that the investors on the table are bringing on board.

“Our desire and objective is to see our developers close-out on their projects and complete the projects,” he said.

The president lauded the Federal Government’s initiative through the Electricity Act 2023 to improve Power in Nigeria.

He said that the act would decentralise and allow parties and developers to be able to generate electricity in a decentralised manner across the country to create more energy access.

“In REAN, we are all about promoting clean energy and generation of energy in Nigeria through our works,” he said.

Ademilua said that the Electricity Act was an exciting opportunity to Nigeria and developers across Sub-saharan Africa and all over the world who could tap into it.

“The act is basically trying to say that we can fast-track energy access to different parts of the country both on-grid and off-grid.

“We have been plagued over time with some of the issues we have with the transmission grid because of issues along the line but with a decentralised generation.

“You can just set up the power plant in your state and run distribution within your state without having to travel thousands of miles which helps a lot.

“Imagine if all the states in the country goes into this, it will improve Power tremendously,” he said.

The president also said that the act was a speed in the wheel of the Nigerian Energy Transition plan which tries to achieve net zero by 2060.

“So, I believe that all these policies, frameworks and the act is working together towards a better Nigeria to light up the space,” Ademilua said. (NAN)

Edited by Olawunmi Ashafa

By Ikenna Uwadileke

President Bola Tinubu has expressed the Federal Government’s commitment to develop the mining sector by creating an enabling environment for players in the industry to thrive.

The president said this at the opening of the 8th edition of Nigeria Mining Week in Abuja.

Represented by the Secretary to the Government of the Federation, Senator George Akume, Tinubu expressed worry that the mining sector was neglected for a long time.

The News Agency of Nigeria (NAN) reports that the mining week serves as a networking platform for stakeholders in the industry to showcase the huge potential in Nigeria’s mining industry.

The event with the theme “Capitalising on Nigeria’s Critical Mineral Resources for its Growth”,  had more than 1,500 participants.

According to Tunubu, the theme underscores Federal Government’s commitment to sustainable development and collaboration within the mining industry.

He said that the devolution of the Ministry of Mines and Steel Development demonstrated Federal Government’s resolve to improve its contributions to the development of Nigeria’s economy.

“Government shall continue to ensure good business environment for investors in the sector by ensuring policy consistency and adequate security.

“Nigeria is known for its oil and gas, which is a fraction of its blessed natural resources and there is a need for Nigeria and Africa at large to diversify and develop other sectors to harness their potential,” the president said.

The Minister of Solid Minerals Development, Dele Alake pledged that the ministry would develop the mining sector as a significant source of economic diversification.

“We charted a new direction with the articulation of the Seven-Point Transformation Agenda focusing on establishment of the national mining company and development of big, standardised and internationally certified data.

“Others are formalisation of artisanal mining through co-operatives and security of mines in collaboration with the security agencies.

“`Also the conscientisation of mining communities to ensure their lawful rights and commit licences to community empowerment and the strategic promotions of our country’s vast mineral deposits for indigenous and international investments.’’ He said.

Alake hailed stakeholders’ enthusiasm in the solid minerals sector in embracing the ideas and proposing many pathways to achieving the roadmap.

“This has led to several collaborations and initiatives across the landscape.

“The dedication to diversifying Nigeria’s economy through mining align perfectly with our shared goals and I am confident that the culmination of this event will continue to lead us toward a prosperous future,’’ he said.

The minister said that Nigeria was set for a great leap of transformation by harnessing the solid mineral resources judiciously.

“If we manage these resources judiciously and responsibly, they can serve as the engine of our economic growth, offering employment opportunities and enhancing the well-being of our citizens.

“Nigeria is endowed with valuable solid minerals like Limestone, Gold, Baryte, Bitumen, lead zinc, Coal, and Iron Ore, to mentionq a few.

“This natural wealth indicates a significant reservoir poised for exploration and development.

“These resources can potentially reduce our dependence on oil revenues, diversify our economic base, serve as the bedrock of sustainable development across various sectors and provide significant job creation opportunities,’’ the minister said.

He, however, said that the vision for the mining sector transcended mere resource extraction.

“We are firmly committed to conducting mining activities that are environmentally sustainable, socially responsible, and economically beneficial.

“We believe mining operations should serve as catalysts for community development and job creation and adhere to industry best practices that minimise ecological footprint.

“As we promote responsible and developmental extraction, we propagate value addition across the value chain as the essential principle of mineral development,’’ Alake said.

Similarly, the Minister of Steel Development, Prince Shuaibu Audu emphasised the need for Nigeria to unleash the immense potential in the solid mineral sector

“We are not merely celebrating the potential today, we are recognising them as the driving force behind the economic growth that is at the heart of President Bola Tinubu’s renewed hope agenda.

“In our country, we are endowed with an array of critical minerals such as coal, tin, lead, limestone, and iron ore, among many others.

“These resources, if properly harnessed, hold the key to not only diversifying our economy but also significantly increasing our revenue streams.

“They are the bedrock upon which we can build a more prosperous, self-sufficient, and industrially advanced Nigeria.

“Allow me to emphasise the pivotal role of the steel sector in this journey towards revitalising our economy.

“Steel, as we know, is the backbone of industrialisation. It is a core ingredient for infrastructure development, manufacturing and construction.

“Our commitment to developing the steel sector is unwavering because it holds the potential to create numerous jobs, attract investments, and contribute significantly to our Gross Domestic Product.

“It is on this heel that we have set out motions to diversify Nigeria’s economy and attract Foreign Direct Investment (FDIs) by transforming the Ajaokuta Steel Company Limited (ASCOL) complex into a Free Trade Zone.

“This includes the designation of 24,000-hectare land of Ajaokuta as an Industrial Park,’’ the minister said.

He said that the initiative aims at revitalising the steel industry, create jobs, and stimulate economic growth in the region thus creating an industrial park in the the city.

“This is in addition to the development of a three-year plan for Ajaokuta and a broader five-year plan to expand steel production to other parts of the country.

“This comprehensive approach aims to harness Nigeria’s vast iron ore resources and leverage them for industrial growth,” Audu said.

The President of Miners Association of Nigeria, Dele Ayanleke said that articulate management of constitutional and legal challenges would provide workable template for streamlining legal and regulatory frameworks that would accelerate the growth of the sector.

The Event Director, VUKA Group, South Africa, Mr Samukelo Madlabane said the event would serve as a stimulus for sustainable development, investment and cooperation within the mining industry.

“This is with an emphasis on maximising Nigeria’s mining potential, especially for its critical minerals,’’ Madlabane said. (NAN)(www.nannews.ng)

Edited by Ese E. Eniola Williams

By Kadiri Abdulrahman

The Grassroots Entrepreneurship Skills Acquisition (GESA) Initiative, an NGO, has called on the Nigerian government to look inwards and review the country’s governing and borrowing policies and develop a framework that could reduce debt servicing.

Cynthia Obazee, National Coordinator of GESA Initiative, said this on Monday in Marrakech, against the backdrop of the just concluded World Bank/International Monetary Fund (IMF) Annual Meetings.

The News Agency of Nigeria (NAN) reports that GESA Initiative is a member of the World Bank Civil Society Policy Forum.

Obazee said that the step was necessary in order to improve transparency and accountability in the utilisation of borrowed funds, and also reduce the rate of borrowing.

According to her, the impact of the global challenges has been unfairly disproportionate to third world countries in fragile situations such as Nigeria.

“Least developed countries are becoming an epicentre of extreme poverty, hunger, inflation, instability and devaluation of currencies.

“While collective action and commitments can address the challenges , we also need transformative policies, and actions rooted in shared understanding to address poverty, build resilience and stability in Nigeria.

“We need a framework that recognises the types of capacities we need to systematically build to address risks, crises, insecurities , poverty and violence, and also to address their root causes,” she said.

Obazee said that the meetings provided ample opportunity for stakeholders to dialogue with the World Bank Group to further enable professional development; to learn more about its policies and participate in key policy sessions.

She said that Civil Society Organisations, represented by GESA Initiative, seized the opportunity of the meetings to catalyse new partnerships to support the efforts of the Federal Government in addressing key social issues that affect citizens’ wellbeing.

“We are working in collaboration with stakeholders to improve access to education for the population of out of school children.

“We are also providing innovation, digital skills and human capital development programmes for young people, while improving the skills gap and empowering women and girls in education, entrepreneurship and sexual reproductive health and rights,” Obazee said.

She commended the World Bank/IMF for a well organised programme of events for the meetings, and the government and people of Morocco for being wonderful hosts.

“Marrakech is a beautiful place with beautiful people. the people are lovely and quite receptive,” Obazee said.

The News Agency of Nigeria (NAN) reports that, during the meetings, the World Bank Governing body approved its new vision statement to create a world free of poverty on a livable Planet.

The group incorporated its new vision to tackle climate change and endorse new steps to allow the use of debt-like hybrid capital and a new portfolio guarantee platform that could together yield up to 100 billion dollars in new lending over a decade.(NAN)(www.nannews.ng)

Edited by Bashir Rabe Mani

By Okeoghene Akubuike

The National Bureau of Statistics (NBS) says its corruption survey is aimed at assessing the Federal Government’s fight against corruption.

The Statistician-General of the Federation, Prince Semiu Adeniran, said this at the Train the Trainers programme for the Third National Survey on Quality and Integrity of Public Services in Nigeria in Abuja on Monday.

The News Agency of Nigeria (NAN) reports that the survey, also called the Corruption Survey, is the third of its kind with the first two conducted in 2017 and 2019.

Adeniran, represented by the Bureau’s Director of ICT, Mr Biyi Fafunmi, said the training was a significant milestone in efforts to collectively combat the scourge of corruption in Nigeria.

He said corruption had remained a formidable challenge as such the insights gathered would guide the country towards a more transparent and accountable future.

He said the outcome of the survey was not to castigate or point fingers at any individual or institution, but to make the necessary commitment to improving the quality of public service available to Nigerians.

“It is also to enhance the trust in the relationship between the citizens and public offices. This is an important hallmark of development in any society.

“This third round is being conducted in collaboration with the United Nations Office on Drugs and Crime (UNODC) and the MacArthur Foundation.

“The survey is not only important as a policy decision tool but also strategic and timely.

“The results will help assess the effectiveness of the efforts deployed by the government to tackle corruption, identify remaining gaps, and determine priority areas for future initiatives.

“It will also help the government craft future anti-corruption policies that are better designed, better targeted and thus more effective to tackle corruption in our society,” he said.

Adeniran said the survey focused primarily on understanding the experiences of corruption by Nigerians, rather than perceived corruption whenever they encounter public officials.

According to him, two new vital modules on gender and disability have been introduced to the instrument in the third round of the survey.

“As the third aspect of the survey, following the 2017 and 2019 rounds, we are presented with an opportunity to conduct a trend analysis of corruption experienced by households in the country.

“Thus, this round will seek to gain a deeper understanding of the differential impact of corruption on marginalised or typically excluded groups such as women, youths, and persons with disabilities,” he said.

Mr Musa Mohammed, Director of Demography and Household Statistics, NBS, said a test run survey was carried out in Uyo and Nasarawa as a build-up to the main survey.

Mohammed, who is also the Project Director, said the trainers would review the questionnaires to be used for the survey, adding that 30 per cent of the numerators for the exercise were from the NBS.

“We will use this opportunity to build the capacity of the state Bureau of Statistics,” he said.

He said the survey of 2017 and 2019 showed a decline in the prevalence of bribery from 32.3 per cent to 30.2 per cent adding that it’s however at variance with the report of Transparency International.

The National Research Consultant, Prof. Adebisi Adeniran, said that the two previous surveys impacted on policy formulation in Nigeria and expects that the third round would look at trends and patterns of corruption in the country.

Princess Chifiero, Project Officer, Anti-Corruption, UNODC, said the focus was on an experienced-based corruption survey shared by citizens themselves rather than on perception.

She said the survey questionnaires were usually translated into the three Nigerian official languages and Pidgin English with 33,000 interviewers across the 36 states and the FCT.

Chifiero said that bribery refusal, gender dimension, items to measure disability and items to measure the location of bribery were new additions to the survey.

NAN reports that the main survey fieldwork would start in October through November 2023 with the ongoing training of the trainers which would be stepped down to the state level. (NAN)

Edited by Bashir Rabe Mani

By Salisu Sani-Idris

The Federal Government, in collaboration with Wema Bank is inviting eligible Nigerians to apply for its recently launched digital skills programme for the Micro, Small and Medium Enterprises (MSMEs).

Mr Temitola Adekunle-Johnson, Senior Special Assistant to the President on Job Creation and MSMEs, Office of the Vice-President, made this known in a statement on Monday in Abuja.

Adekunle-Johnson said entries for the FGN X ALAT Digital Skillnovation Programme were open to tech enthusiasts, aspiring entrepreneurs, business owners, job seekers, working professionals and visionary future leaders.

According to him, interested and eligible Nigerians can visit https://fg-skillnovation.alat.ng and apply for the programme.

Adekunle-Johnson, who disclosed that the portal would open from Monday, said that applicants must be Nigerian citizens residing in Nigeria.

” And must be between the ages of 18 and 35; have literacy and numeracy skills with formal education as a plus and not mandatory.

” Applicants must also have a digital device, a smartphone, laptop, or a desktop to help stay connected and engaged.

” They must be ready to commit to the entire duration of the programme and have keen interest in digital skills, entrepreneurship or technology. ”

Adekunle-Johnson listed some of the benefits of the programme to include training and guiding growth through shared knowledge and experience.

Others are growth and development of skills with the best mentorship, funding for innovative ideas, fostering startups for success and connecting products, as well as expanding reach.

He said that the FGN X ALAT Digital Skillnovation programme also guarantees access to funding worth several millions of dollars in mentorship, job prospects and grants.

This, according to him, is with a view to bring the ideas of beneficiaries to life and real market experiences, among other benefits.

Adekunle-Johnson said, ” Again, interested Nigerians should go to https://fg-skillnovation.alat.ng and apply for the programme.”

The News Agency of Nigeria (NAN) reports that the Federal Government, in partnership with the bank, recently announced that it had concluded arrangements to train two million youths on digital skills.

The Director of Information, Office of the Vice President, Mr Olusola Abiola, in a statement, said the training is in furtherance of the Federal Government’s pledge to support the job creation agenda of the Tinubu administration.

“ Wema bank, in partnership with the Office of the Vice President, has concluded arrangements to commence an initiative that will impact two million youths and one million MSMEs across the country.” (NAN) (www.nannews.ng)

Edited by Bashir Rabe Mani

By Sani Idris

Tax Justice Network (TJN), in partnership with the Kaduna State Internal Revenue Service (KADIRS), has engaged the media in ensuring possible ways of increasing visibility of Internally-Generated Revenue (IGR) through their reportage in Kaduna.

The round table engagement, which was aimed at enlistment of the support of media in Kaduna, was also supported by Christian aid.

The Coordinator of TJN in Kaduna, Mr Simeon Olatunde, described the media as a strategic partner whose contributions in promoting fair, inclusive and citizen driven tax process was paramount.

He noted that the TJN was a loose network of civil society and media advocates for equity and inclusive prosperity in Kaduna State.

It fosters social economic justice through an equitable and fair tax system in the state and beyond.

“Over the years, we have been promoting good governance, tax education and awareness to protect and advance taxpayers’ rights and compliance collaboratively with the state government, private sector and development partners to improve and enhance the tax system that is inclusive and citizens driven,” he said.

According to Olatunde, the knowledge of tax is scarce among the media partners in Kaduna, which informed the round table engagement.

“The Network which has a loose coalition with tax concern, discovered that the media who was also part of the network and have very scanty knowledge of tax which sometimes revolves around figures and tax lines.

“Everything we are doing at the network with media is only at the micro level, not at a wider coverage,” he said.

He, therefore, said the engagement was to carry along other media, to expand the scope and educate, and build their capacity to bring an end to the issues of tax education.

On educating the public on tax administration, Olatunde said the network engaged communities through Community Development Charter (CDC) process to discuss concerns about tax at their community level.

The coordinator stressed the TJN’s commitment in advocating development levy and tax for service, to ensure that a specific amount of money was going back to the community.

Earlier, Mr Zakari Muhammad, KADIRS Head of Corporate Communication, said the specific objectives of the engagement was to increase the understanding and knowledge of media partners on IGR, and importance as a sustainable source of revenue generation.

He added that it was also to reawaken the media on their roles in empowering the residents to hold the government accountable.

Muhammad also said that the KADIRS was keen about receiving feedback, comments from stakeholders on achievements, challenges, and evidence in relation to the current state of IGR and its budget contribution in the media space.

He therefore emphasised the crucial role of media in reporting and advocating voluntary compliance in Kaduna state, while soliciting their support for a robust reportage of tax system, regime and other related issues within the tax space.