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FG Discovers Investment Opportunity Worth $23bn In Energy Transition 

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The Minister of Power, Adebayo Adelabu, has disclosed that the Federal Government has discovered about $23billion in investment opportunities in Nigeria for projects directly related to its Energy Transition Plan.
Adelabu, who disclosed this in his remarks at the 2nd German-Nigerian Symposium on Green Hydrogen, said the opportunities would not only provide electric power for economic development, but would also result in significant net job creation with up to 340,000 jobs by 2030.
He said the ETP would create up to 840,000 jobs by 2060, driven mainly by power, cooking and transport sectors, adding that gas would play a critical role as a transition fuel in Nigeria’s net-zero pathway, particularly in power and cooking sectors.
“The ETP creates significant investment opportunities such as the establishment and expansion of industries related to solar energy, green hydrogen, and electric vehicles.
“$1.9 trillion is required to get Nigeria to Net Zero by 2060, including $410 billion above usual spending.
“This additional cost translates to about $10bn annually. A $23bn investment opportunity has been identified based on current in-country programmes and projects that are directly related to the Just energy transition”, he said.
Speaking on the essence of gas as Nigeria’s transition fuel, the Executive Secretary, Nigeria Extractive Industries Transparency Initiative (NEITI), Ogbonnaya Orji, said gas had the potential to produce blue hydrogen, which, though not as clean as green hydrogen, would be useful in Nigeria’s journey towards cleaner energy sources.
“Sadly, Nigeria is still battling to put in place and embrace efficient gas commercialisation and utilisation policy. For instance, NEITI’s recent report disclosed a total unremitted revenue of over $8.2bn. These revenues arose from liabilities of government agencies and oil/gas companies.
“A breakdown of the unremitted payments in our report showed outstanding gas royalty of $559.8m and another unremitted sum of $828.8m from unpaid gas flare penalty which indicated that more gas was flared during the period than utilised posing serious dangers to the global zero emissions agenda.
“NEITI is working closely with the Nigerian Upstream Petroleum Regulatory Commission on its ongoing gas commercialisation policy to ensure transparent and effective implementation to reverse the trend of gas flare”, Orji stated.
On his part, the Ambassador of Germany to Nigeria, Annett Günther, said Germany and Nigeria were both committed to driving the production and use of hydrogen.
She also referred to the German Chancellor, Olaf Scholz’s recent visit to Nigeria, in which he highlighted that the energy partnership between both nations was not only about traditional fossil fuels, but also about hydrogen, the gas of the future.
Also speaking, the Country Director, GIZ Nigeria and ECOWAS, Markus Wagner, said, “It is crucial to recognise that green hydrogen has the potential to revolutionise our energy landscape. It offers a path to reducing carbon emissions, diversifying energy sources, and boosting economic growth.
“Nigeria and Germany share a long and fruitful history of cooperation in the energy sector and GIZ has been an active partner in this journey, working alongside Nigerian institutions and partners to drive positive change”.

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Association Woos Govt, Coys On  Boat Operators  Employments

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3 days ago

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June 12, 2026

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The leadership of Bonny Maritime Boat Association has called on Rivers state Government and oil companies operating in the state to provide sustainable employment to unemployed boat Operators.
The Association also want the government, companies and other relevant employers of labour to provide trainings for boat Operators to enhance their skills
Safety Officer of the Association, Comrade Kingdom Kingsley made this known in  a  telephone interview with  The Tide.
He noted that most of the boat Operators and owners plying Bonny route lacks jobs due to the fleets of boats introduced by Bonny Road Transport that had taken over the passengers to the Island
He noted that passengers are no longer patronizing boats owned by the Association, thereby rendering the operators redundant
“Most of our operators can not afford to feed their families due to no jobs, we don’t want to indulge in crime, government should fix our members with  sustainable jobs to take care of their immediate needs”
He called on oil companies operating in the state to engage their skilled boat Operators in their companies to reduce the sufferings faced by the Association.
The Safety Officer called on the state government  to made funds available to unemployed youths in the state to start up business than roam the streets.
He noted that provision of funds to youths would reduce crime rates and reposition their mindsets for a better life
“The  youths of Rivers state are suffering, have no job to feed their families, thereby indulging in criminality daily”
“The youths need empowerment,  jobs,  recreational facilities and better things of life as citizens of this Nation”, Kingsley said.
CHINEDU WOSU
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FG Approves $1 Bn AFCFTA Credit Facility For Nigerian Exporters

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June 12, 2026

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The Federal Government has approved a whooping $1bn credit facility to support Nigerian exporters and small scale businesses to take advantage of the African Continental Free Trade Area (AfCFTA) in order to boost production, competitiveness and intra-African trade.
The $1bn AfCFTA Adjustment Fund Credit Facility is also expected to address some of the financing gap being faced by Nigerian exporters and enhance the competitiveness of African businesses within the continental market.
The Minister of Industry, Trade and Investment, Jumoke Oduwole, disclosed this  during the second quarter 2026 meeting of the AfCFTA Central Coordination Committee held in Abuja.
According to a statement issued by the ministry’s Head of Press and Public Relations, Obilor-Duru Okechi, Oduwole said the financing facility represented a major opportunity for Nigerian businesses seeking to expand operations, modernise production processes and increase exports to African markets.
The statement partly read, “?The Federal Government has reaffirmed its commitment to accelerating Nigeria’s export-led growth agenda under the African Continental Free Trade Area, unveiling opportunities for businesses to access a US$1 billion AfCFTA Adjustment Fund Credit Facility aimed at boosting production, competitiveness, and intra-African trade.”
She noted that despite the progress Nigeria had made in implementing the continental trade agreement, many local businesses continued to face obstacles that limited their ability to take advantage of the single African market.
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“Many businesses still face challenges relating to export documentation, certification, standards compliance and market access,” the minister said.
She explained that the Federal Government was addressing these bottlenecks through enhanced trade facilitation measures, simplified AfCFTA guidance tools, stakeholder engagement programmes and stronger collaboration with institutions such as the Nigeria Customs Service and the Nigerian Export Promotion Council.
Oduwole stressed the need to strengthen Nigeria’s legal and regulatory framework by domesticating key AfCFTA protocols, particularly the Digital Trade Protocol, to position the country as a major player in Africa’s growing digital economy.
The minister also highlighted some of the gains recorded in Nigeria’s AfCFTA implementation efforts.
According to her, the expansion of Nigeria’s Air Cargo Corridor Initiative to Rwanda, increased collaboration with development partners and private sector players, as well as sustained engagement with state governments, were helping to deepen awareness and participation in the continental market.
In her welcome address and first-quarter update, the National Coordinator and Chief Executive Officer of the Nigeria AfCFTA Coordination Office, Mrs Patience Okala, provided details of the financing initiative.
Okala said the $1bn AfCFTA Adjustment Fund Credit Facility was targeted at large African businesses with a minimum financing capacity of $10m.
She revealed that the National AfCFTA Coordination Office was working closely with fund managers to facilitate access for eligible Nigerian companies and had begun assembling a pilot group of businesses to ensure that Nigeria maximised the opportunities provided by the facility.
Nkpemenyie Mcdominic, Lagos
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NIWA Harps On  Avoidance Of Leaking Boats

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3 days ago

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June 12, 2026

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The National Inland Waterways Authority (NIWA) has advised Nigerians against boarding boats that require constant bailing of water in the interest of their safety.
 NIWA Area Manager for Cross River and Ebonyi, Mr Stanley Onuoha gave this warning in an interview with Newsmen in Calabar.
Onuoha who spoke on waterway
safety, said that passengers should take responsibility for their safety by inspecting boats before embarking on any journey.
According to him, repeated scooping of water from a boat is a clear indication that the vessel may be leaking.
“If you are entering a boat and see people using a bailer to remove water, it is the first signal that the boat is leaking,” he said.
He urged passengers to check the integrity of boats, including seating arrangements and other visible safety features.
The Manager restated the importance of using safety jackets, saying that damaged jackets may fail during emergencies.
He further said that passengers should ensure that safety jackets were appropriate for their body sizes in order to guarantee effective flotation.
 Onuoha reiterated the need for passengers to fill manifests before departure to aid accountability during emergencies.
The NIWA official further advised travellers to monitor weather conditions and avoid boarding boats when the weather is unfavourable.
According to him, poor weather conditions can trigger strong tidal waves capable of affecting small boats commonly used on inland waterways.
He said that waterway journeys should be embarked upon between 6.00a.m and 6.00p.m for clearer visibility.
Onuoha said  the Authority had continued to sensitise riverine communities to the need for safety precautions during waterway journeys.
He stated that sustained awareness campaigns and enforcement measures had contributed to safety waterway safety in Cross River.
CHINEDU WOSU
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