Stakeholders convened in Abuja on Monday, March 3, 2025, to call for an innovative funding mechanism for wildlife conservation.
Minister of Environment, Alhaji Balarabe Lawal
They unanimously agreed on the need for such a mechanism during the 2025 World Wildlife Day celebration, themed “Wildlife Conservation Finance: Investing in People and Planet”.
Malam Balarabe Lawal, Minister of Environment, stated that the theme could not be more timely as “we confront the urgent need to bridge the financing gap for wildlife conservation”.
The minister was represented by Alhaji Mahmud Kambari, Permanent Secretary in the ministry.
He emphasised that wildlife is not just a source of national pride and ecological balance but also the foundation of the economy and social well-being for millions of people.
“There is a need for an innovative financing mechanism; both private sector and community-based revenue models must be harnessed to ensure long-term conservation.
“This requires a collaborative effort between the government, international partners, financial institutions, and other communities that must work together to secure a sustainable funding stream that aligns with the conservation activity we are intending to carry out.
“Nigeria is committed to strengthening our conservation financing landscape through strategic partnerships, policy reforms, and innovative funding models,” the minister assured.
Lawal urged stakeholders to collaborate on conservation efforts that would unlock new biodiversity opportunities and drive sustainable development.
Alhaji Mahmud Kambari, Permanent Secretary, Ministry of Environment, called for urgent and innovative financing strategies to ensure that conservation efforts remain sustainable and impactful.
Kambari, who was represented by Dr Ama Moses, Director of Forestry in the ministry, stated that investing in wildlife conservation is not just about protecting species.
“It is about securing livelihoods, strengthening climate resilience, and fostering sustainable development.
“However, achieving lasting success requires sustainable financing models that integrate government support, private sector investment, and community participation.
“Nigeria is blessed with a rich biodiversity that supports ecological balance, livelihoods, and economic development,” Kambari said.
Cheikh Toure, the representative of UNODC Nigeria, said that the 2025 theme is a call to action at a crucial time to safeguard our natural heritage globally.
“Traditional funding models are no longer sufficient or sustainable in the long run; we need innovative solutions now more than ever,” he said.
Dr Ibrahim Goni, Conservator-General (C-G) of the National Park Service (NPS), described the theme as apt, stressing that funding challenges affect all sectors of life.
He urged stakeholders to adopt innovative solutions to address conservation financing needs.
Goni, who was represented by Dr Mohammed Kabir, Assistant Conservator-General (AC-G) and Director of Ecology and Resource Management at NPS, emphasised the need to raise awareness about investing in wildlife conservation.
“Every specie plays a vital role in our lives. Financial investment is not only about preserving wildlife; it also impacts the health of ecosystems and humans.
“The challenges confronting the parks include poaching, grazing, encroachment, banditry, and insurgency. However, the NPS remains committed to the conservation and preservation of the ecosystem,” he said.
Dr Mark Ofua, West Africa Representative for the Africa Wild Fund, in his keynote address, called for urgent action on wildlife conservation, warning that “over one million species are threatened with extinction due to human activities”.
The UN Climate Change (UNFCCC) Executive Secretary, Simon Stiell, will visit Nigeria for a four-day trip to discuss the opportunities a strong climate plan can bring with government officials, business leaders, civil society, and other key stakeholders.
UN Climate Change Executive Secretary, Simon Stiell
The Executive Secretary will first visit Abuja, from March 4 to 5, 2025, where he’ll engage with Nigerian government officials and civil society.
After meeting with key government officials in Abuja, he will attend a symposium on the “Intersecting Worlds of Climate Change, Mangrove, and Art” on March 6, convened by Nigeria’s National Council on Climate Change Secretariat (NCCCS) at the Lekki Conservation Centre in Lagos.
The Executive Secretary will deliver a speech on the opportunities of Nigeria’s new climate plan (also known as their Nationally Determined Contribution or NDC), which will be open to media attending the event.
The speech will focus on how Nigeria can realise new economic opportunities with a new national climate plan, and why bold action on climate change can lift people out of poverty, and secure energy access for all.
The Executive Secretary will emphasise that key sectors in Nigeria’s economy are on the verge of take-off, and that bold climate plans are key to them taking flight, bringing significant benefits for households, businesses, and governments.
He will talk about how protecting the environment boosts Nigeria’s resilience to extreme weather caused by climate change, saving lives and livelihoods. From preserving mangrove forests that protect coastal areas from flooding to growing a Great Green Wall in the Sahel to restore degraded land, Nigeria has a clear path forward in adapting to the impacts of climate change on its people, crops, and infrastructure.
Additionally, the Executive Secretary will participate in a panel discussion with business leaders at the symposium on March 6 and meet with civil society representatives on March 7.
With 198 Parties, the UNFCCC (United Nations Framework Convention on Climate Change) has near universal membership and is the parent treaty of the 2015 Paris Climate Change Agreement.
The main aim of the Paris Agreement is to keep a global average temperature rise this century well below 2 degrees Celsius and to drive efforts to limit the temperature increase even further to 1.5 degrees Celsius above pre-industrial levels.
The UNFCCC is also the parent treaty of the 1997 Kyoto Protocol.
The ultimate objective of all agreements under the UNFCCC is to stabilise greenhouse gas concentrations in the atmosphere at a level that will prevent dangerous human interference with the climate system, in a time frame which allows ecosystems to adapt naturally and enables sustainable development.
The Ogoni Dialogue Committee, tasked with discussions on the proposed resumption of oil extraction in Ogoniland, says it will soon present the people’s unified demand to the Federal Government.
Ogoni leaders a the a town hall meeting involving various Ogoni communities and the Ogoni Dialogue Committee in Kpor, the headquarters of Gokana LGA
Ignatius Kattey, Archbishop of Niger Delta North, Anglican Church of Nigeria, and Co-Chairman of the committee, disclosed this in Saakpenwa during a meeting with representatives of communities in the Tai area, Rivers State.
Ogoniland covers four local government areas in Rivers, including Eleme, Gokana, Khana, and Tai.
Kattey explained that the ongoing dialogue with the Ogoni people is aimed at capturing their opinions and concerns, ensuring their voices were heard.
“The committee will also engage with other stakeholders, including women and youths, to enable us to present a unified demand from the Ogoni people regarding the planned oil extraction,” he stated.
Kattey urged various Ogoni communities in Tai Local Government Area (LGA) to actively participate in the dialogue process.
He noted that the Federal Government had demonstrated the willingness to honour the demands of the Ogonis, as evidenced by its confidence-building initiatives in Ogoniland.
According to him, the delegation that recently met with President Bola Tinubu requested the establishment of the Federal University of Environment and Technology, which Tinubu subsequently signed into law.
“The university has the potential to unlock significant economic opportunities for the Ogoni people, serving as a beacon of hope and progress for the area.
“So, as we move forward, I encourage every Ogoni community in Tai LGA to submit their positions on the resumption of oil activities in Ogoniland.
“You voices are vital, as all collated views will form an integral part of our demands in negotiations with the Federal Government,” Kattey added.
The archbishop encouraged all Ogonis to participate in the dialogue, emphasising that this was an opportunity for the Ogoni people to ensure their collective concerns are heard and addressed.
He expressed gratitude to Tinubu for granting the Ogoni delegation the opportunity for dialogue, describing it as a crucial turning point in the pursuit for understanding, reconciliation, and progress.
Kattey also thanked the National Security Adviser, Mallam Nuhu Ribadu, for his support, and Gov. Siminalayi Fubara for promptly donating land for the construction of the university.
Sen. Barry Mpigi, representing Rivers South East Senatorial District, assured that the people of Tai were not opposed to the resumption of oil activities in the local government area.
“The position of the Tai people is that they want to see how their demands are implemented.
“This is why we have submitted our memorandum so that if the prospective operator listens to the terms set by the Tai people, we can work together,” Mpigi concluded.
Some of the Ogoni-bearing communities submitted their demands to the committee.
Gov. Uba Sani of Kaduna State has presented cheques worth $25,000 to 10 communities each, amounting to over N375 million, as a community revolving fund to farmer groups.
Gov. Uba Sani of Kaduna State
The fund was provided on Saturday, March 2, 2025, by the World Bank-assisted Agro-Climatic Resilience in Semi-Arid Landscapes (ACReSAL) Project, to enable the beneficiaries to invest in climate-smart rain-fed agriculture.
The benefitting communities include Anchau, Kuzuntu, Kubau, Zuntu and Jenau, as well as Likoro, Jaja, Hunkuyi, Kudan and Danmahawayi.
Speaking at the event, the Governor said that the fund aligned with his administration’s commitment to rural transformation.
According to him, it is designed to support registered farmer groups under the umbrella of Community Interest Groups (CIGs), with loans.
Sani promised to start the disbursement of his administration’s loans with Kudan and Kubau Local Governments in the phase one of the initiative, with a total of 82 CIGs.
He pledged that phase two would commence in the second quarter of the year, with four local governments in the Central and Southern Senatorial zones as well as two Area Councils in the Northern Senatorial zone.
According to the governor, the concluding phase of implementation would cater for the remaining 11 local government areas.
Sani maintained that the state was proud to be at the forefront of initiatives aimed at combating climate change and ensuring sustainable livelihoods for the people.
“Over the years, we have implemented a range of strategic policies and programs designed to enhance ecological conservation, mitigate the impact of climate change, and promote economic resilience among our citizens.
“With the support of ACReSAL, the State Government unveiled a 10-year Climate Change Policy, trained 500 women, youth, and school-feeding vendors in the production of biomass briquettes as an alternative to wood fuel,’’ he added.
The governor recalled that his administration had identified 22,435 hectares of degraded land for land restoration, provided state-of-the-art weather station.
He had also procured the Amphibious Excavator, otherwise known as Swamp Buggy, for the prevention and control of erosion, deepening of waterways, maintenance and cleaning of rivers.
Earlier, the Task Team Lead of the ACReSAL project, Dr Joy Agene, commended the state for its commitment to environmental sustainability, which was evident in it being one of the best performing sub nationals in the country.
Also speaking at the event, the Minister of Environment, Malam Balarabe Abbas, warned that the fund was a loan and not a grant, adding that it would function as an investment fund.
Abbas said that the ACReSAL project constituted a significant component of the Federal Government’s aim to rehabilitate one million hectares of degraded land, contributing to the goal of restoring four million hectares by 2030.
“The initiative will additionally contribute to diminishing the susceptibility of countless individuals living in extreme poverty in northern Nigeria, thereby enhancing their capacity to engage in the stewardship of their surroundings,’’ he added.
An entrepreneur from the Difa community in Yamaltu Deba Local Government Area of Gombe State, Salisu Danjuma, says he earns over N2.5 million annually from tomato cultivation during the season.
Baskets of tomato being sold at Bula community in Gombe State
Speaking in an interview on Monday, March 3, 2025, in Difa, Danjuma described tomato farming as one of the most profitable agricultural ventures for youths.
Having cultivated tomatoes for the past 15 years, he said that the business had provided him with a stable livelihood while also creating employment opportunities for about 70 youths who work directly and indirectly on his farm.
According to him, during the dry season, he focuses primarily on tomato farming, harvesting over 55 large baskets weekly. These are then transported to Enugu, Rivers, and other southern states.
“I make over N2.5 million from cultivating tomato annually and this has really helped me to provide for my family and even engage youths working for me and making their daily income.
“As you can see now, we just loaded a vehicle going to the South East from here and each big basket here costs N11,000 while the medium basket is N8,000,” he said.
Danjuma stated that although tomato farming was lucrative, the high costs of fertilisers and agrochemicals had continued to reduce his income. He, however, noted that cultivating crops through irrigation was generally more expensive.
He encouraged youths in the state to explore opportunities in agriculture by utilising available water bodies in their communities for irrigation farming, saying: “It is a profitable venture.
“In Nigeria today, it is no longer sensible to wait on the government because the government cannot employ all the youths but with agriculture, youths can earn better than civil servants.
“I farm all-year-round; during wet season I go to another farmland because this place would have been overtaken by flood water from the river.
“This is why I am not begging anyone for jobs because I don’t stay idle in any season,” he said.
The 40-year-old farmer also appealed to the state government to invest more in irrigation farming, adding that food sufficiency would not be achieved with wet season farming alone.
“Government can support youths with irrigation facilities to carry out dry season farming which is more profitable and will help in addressing youths unemployment in the state,” he said.
Danjuma also appealed to the state government to provide mini processing facilities to reduce post-harvest losses, which often occurred after harvest.
Wild Africa, a wildlife conservation organisation, has stated that Nigeria’s iconic species require substantial investment in conservation to ensure their protection.
Wildlife
This is contained in a statement signed by Festus Iyorah, Nigeria’s Representative at Wild Africa, on the occasion of World Wildlife Day 2025, marked on Monday, March 3, in Lagos.
Iyorah called on the Nigerian government, the private sector, and conservation organisations to increase their support for wildlife conservation initiatives to preserve the country’s iconic species.
According to him, the 2025 theme, “Wildlife Conservation Finance: Investing in People and Planet”, reflects the role of innovative funding in protecting biodiversity and ensuring a sustainable future for both nature and humanity.
Citing the 2024 Living Planet Report, Iyorah noted that Africa’s wildlife populations have declined by an alarming 76 per cent over the past 50 years.
“In Nigeria, the situation is dire, with several species, such as lions, elephants, chimpanzees, and gorillas, on the brink of extinction.
“For example, the country’s elephant population has declined by 99 per cent, with only about 300–400 elephants surviving in the wild,” Iyorah said.
He stressed that without immediate investment in conservation, species loss would accelerate, leading to devastating consequences, not only for nature but also for economies that depend on natural resources.
“The stakes are high. In Africa, 80 per cent of tourists visit the continent for its wildlife, fuelling the ecotourism industry, which generates $12.4 billion annually and sustains local economies and communities.
“In countries like Kenya, wildlife tourism accounts for 10.4 per cent of the GDP, employing millions of people and generating $2.7 billion for the country in 2023.
“In Nigeria, the travel and tourism sector’s contribution to GDP is projected to grow at an average rate of 5.4 per cent between 2022 and 2032, underscoring its significant potential to drive economic growth,” Iyorah said.
He added that the sector is expected to create 2.6 million new jobs over the next decade and generate nearly ₦12.3 trillion ($8.2 billion) by 2032.
Iyorah emphasised that the sustainable management of natural resources, alongside the preservation of wildlife and wild spaces, is essential to fostering a profitable wildlife economy with further growth potential.
He quoted Dr Mark Ofua, Wild Africa’s West Africa Spokesperson, as saying: “Conservation is a symphony, and all hands must be on deck.
“Businesses must see conservation efforts as their corporate social responsibility, working with governments, conservation organisations, and individuals.
“Together, we can harmonise our efforts, mobilise resources, and create a resilient future for our planet’s precious biodiversity.”
Iyorah noted that Wild Africa is leveraging a combination of radio, TV, billboards, newspaper publications, and public service announcements (PSAs) to promote and protect Nigeria’s wildlife and wild spaces.
He added that the media campaign features influential Nigerian ambassadors, such as 2Baba and Nela Duke Ekpenyong, to highlight Nigeria’s wildlife tourism potential and the need to protect the country’s wildlife and wild spaces.
Iyorah also quoted Peter Knights, Chief Executive Officer of Wild Africa, as saying: “Without nature, we will not survive.
“Whether it’s countering our carbon footprints, safeguarding our watersheds, maintaining jobs in tourism, or keeping fishing at sustainable levels.
“Investing in conservation in Africa isn’t charity, it’s a necessity. A world without wildlife is not just an ecological disaster, it’s an economic one, too.”
Iyorah urged the Nigerian public to participate in sustainable ecotourism by visiting national parks and supporting local conservation organisations through donations or volunteering as part of the activities to mark the day.
Eco-justice organisations such as The Green Connection, Natural Justice, and Masifundise are sounding alarm bells about yet another fossil fuel project application underway, warning of potentially severe environmental risks to marine biodiversity and serious socio-economic concerns for the coastal communities that depend on it.
An offshore drilling rig at sea
After reviewing the Draft Scoping Report – for TotalEnergies EP South Africa’s (TEEPSA) proposed offshore oil and gas exploration drilling in the southern part of Block Deep-Water Orange Basin (DWOB), off the country’s West Coast – the eco-justice organisations also highlight the project’s impact on the country’s commitment to address the climate crisis and move toward a just energy transition.
The Green Connection’s Strategic Lead, Liziwe McDaid, emphasises government’s responsibility to make informed decisions that serve the public interest.
“If crucial data is missing – information essential for fair and sensible decision-making – then government must reject the reports and applications. Now more than ever, as the climate crisis worsens, energy poverty persists, and food insecurity grows, the risks associated with oil and gas exploration may simply be too high. South Africans, especially those who depend on the ocean for food, livelihoods, and their way of life, cannot afford to sacrifice vital marine ecosystems. We need government to recognise that the world is moving toward a new era of innovation and sustainable alternatives that do not compromise ecosystem health,” said McDaid.
The organisations say that TEEPSA’s argument, that the proposed project aligns with South Africa’s climate policies, is flawed. TEEPSA cannot ignore the full lifecycle of the project in its Environmental Impact Assessment (EIA) because exploration leads to production, which results in more oil and gas, and this means more carbon emissions and worsening climate change.
Therefore, trying to separate exploration from production, to avoid climate scrutiny, is legally indefensible. The science is clear: fossil fuel extraction drives climate change, making this project neither necessary nor desirable under National Environmental Management Act 107 of 1998 (NEMA) principles.
David Mtshali from Natural Justice’s Defending Rights Programme says: “The Draft Scoping Report’s failure to identify oil and gas extraction activities as a factor to be assessed in the need and desirability evaluation, will result in an inadequate assessment of the proposed project’s overall need and desirability. This oversight will compromise the integrity of the environmental assessment process and will result in non-compliance with the country’s laws and regulations on climate change and the environment in general.”
As part of the DWOB South project, TEEPSA plans to drill up to seven wells in an area spanning nearly 30,000 km² between Saldanha Bay and Kleinzee, with drilling depths reaching 3,900 metres. Experts warn that exploratory drilling at such depths carries a heightened risk of blowouts, raising concerns about South Africa’s ability to contain an oil spill of this magnitude.
McDaid warns, “This project, because it goes deeper, seems more dangerous and even riskier than the infamous Deepwater Horizon well, where a catastrophic oil spill has caused long-term harm to marine ecosystems and local coastal communities.”
Mtshali adds: “The continued pursuit of oil and gas as demonstrated by this proposed project, undermines the fundamental right of individuals to have the environment protected for the benefit of both current and future generations. Such projects are neither needed nor desirable, especially now when the world is facing a climate crisis.”
According to Carmen Mannarino at Masifundise, “Fisher people in South Africa are already struggling with declining stocks of key fish species they depend on, compounded by the impacts of climate change. The last thing they need is another industry that disregards their wellbeing. Continued offshore oil and gas exploration will further threaten coastal livelihoods. The draft scoping report fails to acknowledge these realities; another reason for it to be rejected.
“It is critical that we learn from the devastating impact of similar activities in neighbouring Namibia, where tuna stocks have declined drastically since 2011 due to oil and gas exploration. This is why we need a thorough Fisheries Assessment that fully considers the long-term implications for our oceans and the people who depend on them.”
As the public participation process for this project unfolds, The Green Connection, Natural Justice, and Masifundise urge South Africans to hold decision-makers accountable. The future of the country’s energy system should not be dictated by corporate profits but by sustainable development that ensures economic and environmental justice for all.
“This is about our communities, our oceans, and our future,” say the organisations. “We cannot allow reckless fossil fuel expansion to rob the people of their rights and livelihoods, especially as life has already become harder, with the cost of living quickly becoming almost completely unaffordable for most.”
On January 18, 2025, Brazil announced the admission of Nigeria as a partner country to the BRICS bloc of developing economies, adding one of Africa’s largest economies to the growing alliance of emerging market countries. With this admission, Nigeria became the ninth partner country and the second African nation to achieve this status after Uganda.
Dr. Aliyu Audu
BRICS, an acronym for Brazil, Russia, India, China, and South Africa, is a powerful alliance of emerging economies. The bloc has been steadily gaining prominence globally, offering a platform for economic and political cooperation among developing nations. While not yet a full member, Nigeria’s BRICS partner opens up new opportunities for economic growth that align with the country’s development objectives.
Given Nigeria’s ongoing challenges, including currency volatility, infrastructural deficits, food insecurity, energy scarcity and dependence on crude oil, the real work lies in how Nigeria can leverage this partnership to drive long-term economic transformation into a post-oil economy.
One immediate benefit of this partnership is the potential elimination of trade barriers between Nigeria and BRICS countries. Currently, Nigeria relies on imports for many products, from sugar to industrial machinery, with payment of high tariffs. A closer economic relationship with BRICS could lower these costs, making importing critical goods and exporting Nigerian products to member nations easier. Moreover, Nigeria’s over-reliance on the US dollar for international trade has weakened the naira and raised transaction costs.
BRICS countries have been exploring alternative trade settlements in local currencies. In 2024, China’s central bank renewed a bilateral currency swap agreement with the Central Bank of Nigeria (CBN) to boost trade between countries. Allowing direct Naira-to-yuan transactions means Nigerian traders can do business in China without relying on the dollar. This reduces demand for the dollar, preventing its appreciation at the expense of the Naira. In turn, a stronger Naira fosters local economic growth.
Nigeria’s economy is dealing with a significant problem: a lack of a strong manufacturing base. The country consumes far more than it produces, causing high imports, currency devaluation, and economic instability. Leveraging the blueprint and models of BRICS countries, particularly China and India, could transform the country from a consuming nation into a producing one. China’s economic rise is a case study in strategic industrialisation.
Nigeria should not just import Chinese products; it should attract Chinese industries to set up local production plants and build industrial hubs focused on textiles, electronics, and automotive production if we collaborate strategically. The concept of import substitution industrialization (ISI) should be at the forefront of Nigeria’s economic strategy. Producing goods currently imported locally lessens foreign exchange pressures, creates jobs and builds a more resilient economy. The country could, rather than import sugar, invest in local sugar production.
Nigeria’s industrial sector will struggle to compete globally without innovation and technology transfer. As a BRICS partner, Nigeria must secure joint ventures that bring digital infrastructure. The global economy is transitioning into frontier industries and technologies such as big data, artificial intelligence, gene editing, 3D printing, blockchains, Internet of Things (IoT), etc. China, India and Brazil are already well-advanced in these technologies.
Nigeria should partner with these countries to build frontier industries and technology capabilities. Nigerian workers gain the skills needed for long-term industrial growth. India’s success in IT, digital finance and pharmaceuticals can be a vision map for Nigeria to expand its tech industry, manufacture essential medicines locally, and strengthen its digital economy through direct partnerships with Indian firms.
In terms of agriculture, Nigeria has long seen the possibilities within its agricultural sector, but efforts to maximize them have often fallen short. The country has vast arable land, yet it remains one of the world’s largest food importers. In 2023, the government spent about $10 billion on food imports, including fish. Brazil, a global leader in mechanized agriculture, is a key partner Nigeria can turn to. The South American country’s agricultural policies, particularly its public-private farming partnerships, have made it self-sufficient in food production, as such.
Nigeria can develop agricultural mechanisation projects with Brazil, absorb the integration of advanced technologies such as precision planting and the use of GPS-guided equipment, and forge a partnership between the Agricultural Research Council of Nigeria (ARCN) and Brazil’s Agricultural Research Corporation (EMBRAPA) on knowledge exchange and development of farming systems tailored to Nigeria’s ecological zones. Doing these can revolutionise Nigeria’s farming sector, reduce food imports, and improve food security.
Transitioning to a post-oil economy will require significant investment in energy infrastructure. The country is facing an electricity deficit affecting over 85 million Nigerians despite having abundant renewable energy just waiting to be properly deployed. The cost of doing business is currently high due to unreliable electricity, forcing many businesses to depend on expensive diesel generators. A stable power supply, built on advanced energy technology and renewable energy, will reduce production costs and attract more foreign investment.
Nigeria commits to achieving net-zero carbon emissions by 2060 under its Energy Transition Plan (ETP) If we look to East Asia, China’s leadership in solar and wind energy production creates a beneficial pathway for Nigeria’s renewable energy growth. For example, Nigeria’s estimated $34 billion lithium reserves, used for producing batteries for electric vehicles and solar panels, allow for an expansive collaboration with BRICS members to establish local battery manufacturing plants instead of solely exporting raw lithium. This would create jobs and position Nigeria as a key player in the global renewable energy supply chain.
Brazil’s ethanol industry is another model for developing biofuel alternatives into its economy, shifting reliance on petrol and supporting climate goals while boosting its agricultural sector. The country produces ethanol from sugarcane, using a public-private partnership model that supports farmers and ensures a stable fuel supply.
With its abundant agricultural resources, Nigeria produces around 6% of its own ethanol and imports the remaining 94%. Developing meaningful partnerships with Brazil can help the country explore a similar approach by advancing cassava-based ethanol production, as Cassava is one of the most widely cultivated crops in the country.
Moreover, Nigeria needs massive investments in infrastructure, energy, and technology. However, access to funding remains a challenge. BRICS established the New Development Bank (NDB) 2015 to finance sustainable projects in developing countries. Although Nigeria is just a partner, it may qualify for funding under specific conditions to finance infrastructure and development projects through its New Development Bank (NBD). Nigeria could position itself to access these funds by prioritising projects that align with the NDB’s goals, such as renewable energy infrastructure, sustainable agriculture and green transportation systems.
Nigeria’s BRICS partnership should be a strategic opportunity to redefine its economy in a post-oil world. Contrary to the celebratory cheers from some public sections, Nigeria must focus on building the necessary infrastructure, policies, and human capital to make good use of this partner status. If Nigeria fully leverages BRICS’ financial resources, technological and skills transfer and production, it could transition smoothly to a green economy, diversify revenue streams, improve agriculture, and develop local industries. However, success will depend on effective governance, well-thought-out policies, transparency, and a clear vision for sustainable development.
Dr. Aliyu Audu is an economist and public affairs expert. He has served as a consultant to the International Monetary Fund (IMF) and the World Bank. He is the Vice President of the Nigeria/Ireland Business Association
Dangote Petroleum Refinery & Petrochemicals has announced that it will refund customers who purchase Premium Motor Spirit (PMS) at rates higher than the advertised prices from any of its key partners – AP (Ardova Plc), Heyden, or MRS – across Nigeria.
Dangote Refinery
This move follows the refinery’s recent reduction of its gantry price from N890 per litre to N825 per litre.
The refinery stated that this is part of its ongoing efforts to ensure that Nigerians are the primary beneficiaries of the price reduction and in line with President Bola Tinubu’s Renewed Hope Agenda, which aims to stimulate the economy.
In a statement issued over the weekend, the refinery confirmed it will refund N65 per litre on the over 200,000 metric tonnes of PMS purchased by marketers at the old gantry price of N890 per litre, prior to the new rate of N825 per litre. Dangote refinery also absorbed N16bn loss by refunding N65/litre to marketers for Nigerians to benefit from cheaper fuel.
“The step, effective February 27, 2025, guarantees that none of our valued business partners will experience a loss due to the price change. More importantly, it ensures that the new, lower rate takes immediate effect nationwide for the benefit of the Nigerian people,” the statement said.
The refinery emphasised that this initiative extends beyond MRS Holdings, Ardova Plc (AP), and Heyden. It urged other marketers sourcing stock from it to pass on the benefits of the new pricing to consumers at the retail level, encouraging a collective commitment to affordable, quality products.
Dangote also condemned any exploitation of the new pricing structure. “It is both unpatriotic and detrimental to the welfare of Nigerians for any party to purchase at a rate of N825 per litre and then sell to consumers at N945 or more per litre. This constitutes excessive profiteering, further burdening Nigerians for personal gain,” the statement added.
“Dangote Refinery in its effort to ensure good quality and affordable fuel for Nigerians, is working with its partners to make this price accessible. Consumers who purchase fuel above the advertised rate at any of its key partners – AP (Ardova Plc), Heyden, or MRS – anywhere in Nigeria, are encouraged to report to Dangote Refinery with their receipts for a full refund of the excess amount.
The approved rates per litre are as follows: MRS: N860 in Lagos, N870 in the South-West, N880 in the North, and N890 in the South-South and South-East; Heyden and AP: N865 in Lagos, N875 in the South-West, N885 in the North, and N895 in the South-South and South-East.
With the new gantry price set at N825 per litre, Dangote Refinery expects that no Nigerian will pay more than N900 per litre for PMS, regardless of location or petrol station. The refinery also underlined its commitment to providing high-quality, eco-friendly fuel that benefits vehicle performance and supports public health.
“Our commitment aligns with the objectives of President Bola Tinubu’s Renewed Hope Agenda, which champions self-sufficiency in critical sectors like energy. We remain dedicated to supporting Nigeria’s economic growth and ensuring every Nigerian has access to affordable, high-quality energy solutions,” the refinery said.
Dangote Refinery concluded, “This initiative is one of many ways Dangote Petroleum Refinery & Petrochemicals continues to contribute to a prosperous and sustainable future for our country. In this journey toward energy security, we stand united with the Nigerian people, always striving to provide lasting solutions and a more prosperous future for all.”
Shell companies in Nigeria underlined their participation at the 8th Nigeria International Energy Summit (NIES) in Abuja with a high-profile exhibition that hosted dignitaries among them the Minister of State for Petroleum Resources (Oil) Senator Henieken Lokpobiri.
Minister of State for Petroleum Resources (Oil) Senator Henieken Lokpobiri and other dignitaries visited the Shell exhibition booth at the just concluded 8th Nigeria International Energy Summit in Abuja
The Minister was briefed on the range of Shell businesses in Nigeria and recent investments in gas by The Shell Petroleum Development Company of Nigeria Limited (SPDC) and in deep-water oil production by Shell Nigeria Exploration and Production Company Limited, (SNEPCo).
Senator Lokpobiri expressed his appreciation for the continued confidence in Nigeria’s energy sector.
The exhibition featured a medical stand which was organised as part of Shell’s Health-in-Motion programme. A team of doctors, opticians, laboratory scientists, and nurses provided healthcare services to hundreds of visitors including conference attendees and members of the public, conducting health checks, tests and treatments. More than 300 medicated glasses were given out in addition to eyecare treatments for nearly 400 people.
The exhibition at NIES was part of the overall Shell support for NIES this year of which the company was a Platinum sponsor. Shell also won the Best Upstream Company 2024 award at the Summit.
“We’re pleased to be part of the Nigeria International Energy Summit which showcases the country’s oil and gas potentials to the world,” Country Chair, Shell Companies in Nigeria and Managing Director SPDC, Osagie Okunbor, said.
“Consistent with our support for previous conferences, Shell was Platinum sponsor of the 2025 edition in addition to staging a well-received exhibition and our staff participating meaningfully in plenary and workshop sessions. We hope that the insights and suggestions at the conference will support efforts to reform the industry and attract investments,” he added.
