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UK launches new phase of partnership to power clean energy, climate action

Michael Simire
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UK launches new phase of partnership to power clean energy, climate action

At the UN Climate Change Conference (COP30) in Brazil on Tuesday, November 11, 2025, the UK government officially launched Phase Two of the Nigeria–UK PACT (Partnering for Accelerated Climate Transitions) Fund. This significant package of support includes eight new technical assistance projects and five expert deployments aimed at supporting Nigeria’s implementation of its ambitious Nationally Determined Contributions (NDCs).

Strengthening Nigeria’s capacity to deliver on its Nationally Determined Contributions (NDCs) and achieve net-zero emissions by 2060 is vital to both national development and global climate goals. 

UK
A session to officially launch Phase Two of the Nigeria–UK PACT (Partnering for Accelerated Climate Transitions) Fund

UK PACT is a flagship programme under the UK Government’s International Climate Finance (ICF) portfolio, jointly managed by the Foreign, Commonwealth and Development Office (FCDO) and the Department for Energy Security and Net Zero (DESNZ). Operating across Africa, Asia, and Latin America, UK PACT provides technical assistance, capacity building, and knowledge exchange to help partner countries deliver their climate commitments and advance just, inclusive transitions. 

UK PACT currently supports 14 countries with expertise, funding, and partnership models that combine innovation, policy reform, and capacity strengthening. The Nigeria-UK PACT Fund part of this global effort and launched in 2021, supports Nigeria in strengthening climate governance, increase incentives for mobilising finance, and implementing clean energy and nature-based solutions that align with Nigeria’s Energy Transition Plan, Climate Change Act, and NDCs.

The new phase two portfolio is structured around supporting a transition to a low-carbon, climate-resilient future through: 

Clean Energy Transition Projects: Five new projects are dedicated to support the accelerating clean energy transition, a critical area for sustainable development and emissions reduction in Nigeria by:  

  • Unlocking renewable energy access by scaling up the deployment of decentralised renewable energy solutions, including mini-grids and embedded generation, to provide reliable power to underserved communities. 
  • Strengthening energy systems by enhancing the technical and regulatory capacity of key energy sector institutions to effectively integrate a higher share of renewables into the national grid. 
  • Driving innovation and investment by creating market-enabling environments that de-risk and attract private investment into clean technologies. 

Implementing Partners for Clean Energy Transition Projects include the Landell Mills, Africa PPP Advisory Services, Mercy Corps, Wayne Energy Consult, and Glasgow Caledonian University.

Climate policy and governance projects: Three projects aiming to institutionalise and sustain climate action within the Nigerian government by:   

  • Enhancing institutional capacity to develop, implement, and monitor climate-smart policies. 
  • Supporting evidence-based policymaking by improving data collection, Measurement, Reporting, and Verification (MRV) systems to ensure policies are informed by robust data and align with international best practice. 
  • Creating an enabling environment by fostering the necessary policy frameworks to promote private sector participation and innovation in Nigeria’s low-carbon economy 

There will be expert deployments working with the Nigerian Electricity Regulatory Commission (NERC), Rural Electrification Agency (REA), and National Council on Climate Change (NCCC).

Implementing Partners for CPG Projects include the Greenhouse Gas Management Institute, Perspectives Climate Research gGmbH, and University of York.

These projects are expected to: 

  • Enhance climate data tracking and reporting on NDCs through the development of an economy wide, harmonised MRV system. 
  • Facilitate the deployment of small-scale hydropower in off-grid areas. 
  • Build Nigeria’s strategic and technical negotiation skills. 
  • Creating market-enabling environments to de-risk and attract private investment into clean technologies for healthcare electrification. 
  • Piloting scalable renewable embedded generation in Nigeria’s power sector to reduce risk and unlock over $8 billion in private investment. 

Together, these achievements form a foundation for deeper engagement in Phase 2, linking clean energy, climate policy, and governance to accelerate Nigeria’s pathway to net zero.

The Phase 2 launch builds directly on the foundational success of UK PACT support in Nigeria which has been ongoing since September 2021. 

Cooling demand to triple by 2050 – UNEP

Michael Simire
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Cooling demand to triple by 2050 – UNEP

The cooling demand is set to triple across the globe by 2050, driving climate change and overloading power grids.

This is contained in a report issued by the UN Environment Programme (UNEP) on Tuesday, November 11, 2025, in Belem, Brazil.

The report encouraged countries to embrace Sustainable Cooling Pathway (SCP) which would cut 64 per cent off cooling emissions by 2050.

Inger Andersen
Inger Andersen, executive director of the United Nations Environment Programme (UNEP)

According to the report, the SCP is capable of protecting three billion people from rising heat, saving up to $43 trillion in avoided electricity, and infrastructure costs.

The SCP, published by the UNEP-led Cool Coalition, is the most comprehensive assessment to date of rapidly growing global demand for cooling and the need for climate-friendly solutions to the issue.

It can provide access to space cooling or refrigeration, resilient buildings and urban green spaces to all – including low-income and vulnerable groups – such as smallholder farmers, women and elderly – without exacerbating the climate crisis.

The report said, adopting sustainable cooling, with a strong focus on passive techniques of low-energy and hybrid cooling that combines fans and air conditioners that consume little or no power, could cut greenhouse gas emissions.

According to it, sustainable cooling can save trillions of dollars and expand life-saving cooling access to those who need it.

“Global Cooling Watch 2025 launched today at COP30 in Belém, Brazil, finds that cooling demand could be more than triple by 2050 under business as usual, driven by increases in population and wealth.

“Also by more extreme heat events and low-income households increasingly gaining access to more polluting and inefficient cooling.

“This would almost double cooling-related greenhouse gas emissions over 2022 levels.

“This tends to push cooling emissions to an estimated 7.2 billion tons of CO2e by 2050 despite efforts to improve energy efficiency, phase down climate-warming refrigerants and overwhelm power grids during peak load,” it said.

The report stated that adopting SCP would reduce emissions to 64 per cent, 2.6 billion tons of CO2e, below the levels expected in 2050.

“When combined with rapid decarbonisation of the global power sector, residual cooling emissions could fall to 97 per cent below business-as-usual levels,” it added.

By Gabriel Agbeja

COP30: Brazil leads new global effort to accelerate multilevel climate action

Michael Simire
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COP30: Brazil leads new global effort to accelerate multilevel climate action

At a high-level ministerial session of the Fourth Ministerial Meeting on Urbanisation and Climate Change at COP30, the Government of Brazil unveiled two milestones to advance multilevel climate governance: the launch of the Plan to Accelerate the Solution (PAS) on Multilevel Governance and the announcement of a new co-chair governance framework for the Coalition for High Ambition Multilevel Partnerships (CHAMP), to be jointly led by Brazil and Germany until 2027.

Launched in 2023 during COP28, the coalition is a platform to enhance collaboration between national and subnational governments in climate policy and finance. As of today, 77 countries and the European Union have endorsed CHAMP, demonstrating a growing global commitment to multilevel governance. 

Lula da Silva
Lula da Silva, President of Brazil

The “High-Level Ministerial Panel on Multilevel Governance for the Implementation of the Paris Agreement and Climate Strategies”, hosted by the COP30 Presidency, Brazil’s Ministry of Environment and Climate Change, Brazil’s Ministry of Cities, and UN-Habitat, brought together ministers and senior officials from national and subnational levels to discuss integrated approaches to achieving the Paris Agreement goals.

In his speech on Monday, November 10, 2025, ambassador André Corrêa do Lado highlighted the importance of national, regional, and local collaboration around a shared agenda for tackling the climate crisis.

“The presence of governors and mayors is extremely important, because subnational entities play a central role in implementing the decisions made at COPs. It is essential that the world sees the unity that exists in Brazil – across all levels of government – around an agenda that, as we know, will be extraordinary for growth, job creation, and improving people’s lives,” he said.

Accelerating Multilevel Governance to Advance Climate Action

The Plan to Accelerate the Solution (PAS) of Multilevel, Multisectoral, and Participatory Governance Model for the Implementation of the Paris Agreement marks a new phase in global climate cooperation, serving as the implementation instrument of the CHAMP Coalition. It is the first of its kind global effort to institutionalise multilevel climate governance as an enabling condition for effective implementation of the Paris Agreement.

Coordinated by the COP30 Presidency and the Government of Brazil (Ministry of Environment and Climate Change and Ministry of Cities), in collaboration with UN-Habitat, CHAMP partners, and a wide coalition of global and regional institutions, it represents the largest coordinated mobilisation ever led by a COP Presidency to strengthen collaboration between national and subnational governments – bridging political commitment, institutional reform, and access to finance.

To drive this operational delivery, the PAS has established clear, measurable targets. By 2028, the plan aims for 100 national climate plans and NDC implementation plans to officially include multilevel governance structures and mechanisms, with a view to 120 plans by 2030. A significant focus is placed on enhancing capacity, with a target to train 6,000 public officials and practitioners in CHAMP-endorsing and other countries by 2028. This training, to be delivered through ongoing programmes, centres on multilevel governance and climate action to accelerate the delivery of the Paris Agreement.

The PAS moves the coalition from political commitment to operational delivery by connecting policy, capacity building, and finance across all levels of government. The PAS brings countries together with international partners and subnational networks to align national ambition with local action, integrate local priorities into NDCs, and institutionalise multilevel governance as a foundation for achieving the Paris Agreement’s goals.

The plan positions multilevel collaboration as a key solution for scaling effective climate action. It establishes a structured process to link national, regional, and local efforts under a shared framework designed to strengthen implementation.

Developed within the COP30 Presidency’s Action Agenda, it aligns with Axis IV: “Building Resilience for Cities, Infrastructure, and Water”, where Multilevel Governance is one of five key objectives under this axis. The COP30 Action Agenda includes six thematic axes and 30 specific objectives, each supported by activation groups that bring together governments, businesses, investors, and communities to deliver coordinated results.

Implementation of the PAS will be led by Brazil’s Ministry of Cities and Ministry of Environment and Climate Change, supported by UN-Habitat and CHAMP, and in collaboration with C40 Cities, the Global Covenant of Mayors for Climate & Energy (GCoM), and WRI, among other global initiatives. Over the coming months, these partners will refine the framework and support the activation of collaborative initiatives at both national and local levels.

A New Era for the CHAMP Coalition

The event also marked a new chapter for the CHAMP Coalition, which has grown to 78 endorsers since its launch at COP28. Brazil and Germany were announced as the first Co-Chairs of the coalition in a new formal, country-led governance framework – guiding the coalition’s next phase of action in partnership with local governments and global networks beyond COP30. This transition to a structured, government-led framework strengthens CHAMP’s capacity to guide international cooperation on multilevel governance and support practical implementation at all levels of government. 

Following consultations since New York Climate Week, members have endorsed a Co-Chair and Steering Group model, ensuring that decision-making and coordination reflect national ownership. The Co-Chairs will serve a two-year term, responsible for guiding CHAMP’s activities, shaping its governance structure, and overseeing the CHAMP Secretariat, in consultation with members of the Steering Group. The nomination process for Steering Group members remains open and will conclude by the end of this month with a minimum of six acting members. 

From the outset, Brazil has played a leading role in championing the coalition’s vision for stronger collaboration between national and subnational governments. This leadership was reaffirmed through the explicit inclusion of CHAMP in Brazil’s revised Nationally Determined Contribution (NDC), underscoring the country’s commitment to institutionalising multilevel governance as a cornerstone of climate implementation. 

The updated EU NDC reaffirms the importance of involving and empowering all levels of governance to drive effective climate action. As a federal state, Germany promotes multilevel climate action nationally and internationally, including through the International Climate Initiative (IKI).

Since 2008, IKI has supported 1,000+ climate and biodiversity projects worldwide, including subnational initiatives, with nearly 7.5 billion euros. Building on this experience, Germany has played a central role in shaping the coalition and advancing its global implementation, helping to translate CHAMP’s commitments into tangible climate action.

COP30: UN urges countries to harness local actions to improve lives

Michael Simire
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COP30: UN urges countries to harness local actions to improve lives

The President of 3Oth United Nations Climate Change Conference of the Parties, Mr. André Corrêa do Lago, has called on all countries to harness local actions to improve lives.

The president made the call on Tuesday, November 11, 2025, at the ongoing COP30 in Belém.

According to him, harnessing local and subnational action to build resilience and improve lives will reduce the impact of climate change.

André Corrêa do Lago
André Corrêa do Lago, COP30 President

“COP30 continues its focus on turning ambition into implementation by advancing the solutions driving systemic change, in real places, led by real people.

“Nowhere is that more evident than in our cities, regions and communities where climate action connects to daily life evidenced by today’s announcements including accelerated progress on housing, water, waste reduction, buildings, infrastructure, and governance.

“Events like the High-Level Ministerial on Multilevel Governance to the Beat the Heat Global Mutirão High-Level Event, deliver a clear message that climate action starts at the local level,” he said.

He stated that the launch of the “Plan to Accelerate Multilevel Governance” and the operationalisation of the “Coalition for High Ambition Multilevel Partnerships (CHAMP)” further demonstrated the reality, embedding local leadership into global frameworks with people at the center.

He said local and subnational governments were translating ambition into safer homes, cleaner water, and stronger economies, delivering real-world action and increasing resilience where it is needed most, from resilient buildings to early warning systems.

“Today also marks the release of the Yearbook of Global Climate Action 2025, the annually published report led by the Climate Champions and UN Climate Change with data from its NAZCA portal.

“This presents a snapshot of global climate action and showcases its progress and gaps.

“The yearbook’s findings highlight that 95 per cent of countries in the 2025 NDC Synthesis Report now engage cities, businesses, and civil society in implementing climate plans, demonstrating that whole-of-society action is accelerating,” he said.

He said there was a need for deeper alignment between national ambition and local delivery to close remaining gaps in finance and capacity.

By Gabriel Agbeja

Renaissance CEO urges operational efficiency, talent upskilling at NAPE conference

Michael Simire
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Renaissance CEO urges operational efficiency, talent upskilling at NAPE conference

Renaissance Africa Energy Company Limited has called for an urgent overhaul of operational efficiency and accelerated upskilling of Nigeria’s youthful energy workforce to unlock the country’s competitive advantage in the global energy market.

Speaking at the 43rd annual international conference of the Nigerian Association of Petroleum Explorationists (NAPE) in Lagos, Renaissance Managing Director and Chief Executive Officer, Tony Attah, said Nigeria stands at a critical juncture as global energy dynamics shift, capital allocation becomes more selective, and technology disrupts traditional value chains.

Tony Attah
Managing Director and Chief Executive Officer of Renaissance, Tony Attah

“Despite these complexities, Nigeria retains enormous strategic advantages – world-class reserves, a young and dynamic population, entrepreneurial agility, and resilience to innovate our way forward,” Attah said in a keynote address delivered by the company’s General Manager for Greenfields Capital Projects, Abimbola Tijani.

Attah stressed that improving operational efficiency and developing human capital are not just corporate objectives but national priorities.

“We must operate smarter, faster, and more efficiently, while building and empowering the next generation of energy talent,” he said.

He defined operational excellence as streamlining workflows, empowering teams with data-driven autonomy, and creating feedback loops for continuous improvement.

“Operational efficiency is not about doing more; it is about doing better, consistently, sustainably, and smartly. It is no longer optional. It is the price of relevance,” he added.

Attah noted that while hydrocarbons will remain vital for revenue and energy security in the near term, competitiveness will hinge on modernising operations and workforce capabilities. “We are not just competing with national oil companies; we are competing with agile, technology-enabled energy firms worldwide,” he said.

The Renaissance CEO urged policy reforms and investment alignment to create an enabling environment for efficiency and talent development.

“Clear, consistent, and forward-looking regulatory frameworks, de-risked funding models, and partnerships between government, industry, and academia are essential,” he said.

On workforce transformation, Attah highlighted targeted training, diversity and inclusion, retention strategies, and safety-first cultures as critical.

“Potential needs development and platforms to excel, training, mentorship, and opportunity,” he said.

Africa Day: At COP30, we demand delivery, accountability – PACJA

Michael Simire
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Africa Day: At COP30, we demand delivery, accountability – PACJA

Speech by Dr. Mithika Mwenda, Executive Director, Pan African Climate Justice Alliance (PACJA), on Africa Day at COP30, on Tuesday, November 11, 2025

It is an honour to speak today on behalf of the Pan-African Climate Justice Alliance and the wider fraternity of Africa’s non-state actors.

Non-state actors are those who turn climate commitments into real action on the ground. And therefore it is strategic to associate us with the Africa Day here at COP30, as has been the case in previous COPs.

PACJA
Dr. Mithika Mwenda, Executive Director, Pan African Climate Justice Alliance (PACJA), delivering remarks at the opening session of the Africa Day

Let me, therefore, express gratitude to all partners involved in making this day successful and our pledge to continue working with you to advance the interests of African people in these global dialogues.

We come to this Africa Day as co-architects of the continent’s climate destiny. Without collective effort, achieved through meaningful inclusiveness, the risks of missing out on the true aspirations of all our peoples is high.

Across Africa, communities are living the daily consequences of broken promises. Yet, they continue to lead with courage and innovation. They remind us that climate action is a necessity for the survival of our shared planet.

But survival alone is not enough; Africa must transition into prosperity. That is why we stand for a new paradigm that sees climate finance, not as aid, but as investment in Africa’s people, innovation, and resilience. This means shifting power from global intermediaries to national and local actors; replacing talk with results, and moving away from extractive to regenerative economies.

At COP29, we were promised ambition. At COP30, we demand delivery and accountability. We cannot fund adaptation with pledges that never materialise.  We cannot build resilience on the foundation of debt. We cannot industrialise on terms that export our minerals and import our poverty.

Non-state actors across the continent are ready to partner with governments to change this narrative by scaling just energy transitions, empowering youth and women, and driving transparent, community-led solutions.

The Africa Climate Summit in Addis Ababa has already shown the way: climate action must be needs-based, inclusive, and Africa-led. If we can unlock the value of our natural assets, reform the rules of global finance, and invest in our people, Africa will not only adapt to the climate crisis, it will define the future of sustainable growth.

So, today, as we celebrate Africa Day at COP30, we call for justice, fairness, and partnership grounded in respect and proportional responsibility. Let this moment mark the shift from pledges to power, from potential to performance, and from promises to prosperity.

AEDC sacking falls short of union, management agreement – Employees union

Michael Simire
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AEDC sacking falls short of union, management agreement – Employees union

The National Union of Electricity Employees (NUEE) has expressed concern over the sack of 800 employees of Abuja Electricity Distribution Company (AEDC), saying that the said restructuring falls short of the agreement between the unions and management anchored on mutual trust.

NUEE frowned at the development, pointing out that the number involved is “unacceptably high”, taking into consideration the current economic reality in the country and the manpower gap in the company.

“The figure undermines workers’ livelihoods and the sustainability of the workforce,” stated the employees union, pointing out that some workers on the retrenchment list have no business being on it.

Abuja Electricity Distribution Company (AEDC)
Abuja Electricity Distribution Company (AEDC)

“Underperformance could either be as a result of Worker’s ineptitude or management induced through non-provision of the necessary working tools and conducive work-environment,” the NUEE noted, lamenting that over 60% of affected staff members fall within the youth group.

“We note regrettably that a substantial majority of those affected fall within the youth age bracket against the advice of the Unions. The long term economic and social impact of the youth unemployment on households and communities cannot be overemphasised.”

The union also alleged victimisation of union officials: “The union has observed with disappointment, a well thought out plan of victimisation, orchestrated against the union. Over 70% of union officials across the four State Councils and 21 Chapters in the Company were affected.”

NUEE thus called for a comprehensive review of the entire restructuring process in line with the Memorandum of Understanding between the Management and the Unions.

“It has been evidently proved that the entire process is flawed,” declared the NUEE, calling for a detailed line by line audit of performance records and disciplinary history for all affected employees.

Apart from providing access to performance records and disciplinary histories of the affected staff, NUEE also demanded the establishment of a joint AEDC/Union committee to oversee the review, appeal processes and, where appropriate, provide a mitigation process for those unfairly targeted.

“While the Union reaffirms its commitment to safeguarding workers’ rights, we advise the Management of AEDC to engage the inherent potentials of the workers in achieving the desired productivity,” said Dominic Igwebike, the NUEE Ag. General Secretary,

COP30: NDCs will reduce emissions by 12% in 2035 – UNFCCC

Michael Simire
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COP30: NDCs will reduce emissions by 12% in 2035 – UNFCCC

The UN Framework Convention on Climate Change (UNFCCC) says that Nationally Determined Contributions (NDCs) will reduce emissions by 12 per cent in 2035.

The NDCs are commitments that countries make to reduce their greenhouse gas emissions as part of climate change mitigation.

The UNFCCC said this in its NDC Synthesis report, released on Monday, November 10, 2025, on the sidelines of COP30 in Belém, Brazil.

Simon Stiell
Executive Secretary of UN Climate Change, Mr. Simon Stiell. Photo credit: Kiara Worth | UN Climate Change

A sense of cautious optimism marked the first day of COP30, following the announcement that dozens of new national climate plans – known as NDCs – pushed the tally to 113 countries, including Nigeria now committed to curbing global warming.

Together, they represent nearly 70 per cent of global greenhouse gas emissions; a significant step forward in the race to keep temperatures in check.

The report shows that new NDCs, including many received in recent days, will reduce emissions by 12 per cent in 2035.

UNFCCC highlighted that every fraction of a degree of heating avoided will save millions of lives and billions of dollars in climate damages.

UNFCCC, which convenes the yearly COPs, suggests these pledges could cut emissions by 12 per cent, but not yet enough to guarantee the 1.5°C goal.

According to the UN climate change agency, the challenge now is turning promises into action at a pace that matches the scale of the crisis.

Speaking at the opening of COP30, the Brazilian President, Luiz Inácio Lula da Silva, called for a decisive defeat of climate denial and faster action to keep the 1.5°C goal alive.

”This is the moment to match opportunity with urgency.

Silva, however, warned that ”climate change is not a threat to the future; it is a tragedy of the present”.

Citing Hurricane Melissa in the Caribbean and a tornado in Paraná, the President declared this ”the COP of truth”, denial and delay are no longer options.

”We are moving in the right direction, but at the wrong speed,” he said, adding that Crossing 1.5°C is a risk we cannot take”.

He called strongly for an end to climate denialism, underscoring that in the age of disinformation, obscurantists reject not only scientific evidence but also the progress of multilateralism.

They control algorithms, sow hatred, spread fear, and attack institutions, science, and universities. It is time to impose a new defeat on denialists.

“Without the Paris Agreement, the world will be heading toward catastrophic warming of nearly 5°C by the end of the century,” he said

He pressed world leaders to adopt ambitious climate pledges and keep adaptation at the heart of national strategies.

He also called for a roadmap for humanity to overcome in a just and planned way, its dependence on fossil fuels, reverse deforestation, and mobilise the resources needed to do so.

To back that vision, he announced a new fund to support energy transitions in developing countries, financed by revenues from oil exploration.

Meanwhile, André Corrêa do Lago, COP30 President, presided over the official opening of the summit following a musical performance by members of the Guajajara Indigenous People.

He urged delegates to make this the ”COP of implementation, adaptation, and economic integration of climate policy and above all, the COP that listens to and believes in science”.

He acknowledged the crucial role of Indigenous Peoples as guardians of the Amazon, the region now at the centre of the world’s attention.

COP30 opened on Monday and runs through Nov. 21.

By Cecilia Ologunagba

Nigeria begins 2025 oil licensing round December

Michael Simire
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Nigeria begins 2025 oil licensing round December

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced the commencement of the 2025 Licensing Round, effective Dec. 1, 2025.

The NUPRC Chief Executive (CCE), Mr. Gbenga Komolafe, made the announcement at the NUPRC’s Project One Million Barrels Per Day (1MMBOPD) Additional Production Investment Forum in London on Tuesday, November 11, 2025.

Komolafe, in a statement by its Head of Media and Strategic Communication, Eniola Akinkuotu,
said the announcement was in line with the Petroleum Industry Act (PIA 2021).

Gbenga Komolafe
Gbenga Komolafe, the Chief Executive of NUPRC

He said the announcement followed the approval of President Bola Tinubu who doubles as the Minister of Petroleum Resources.

“We are announcing that we are ready, following the approval of the Minister of Petroleum Resources in line with the PIA to commence the 2025 licensing round beginning from Dec. 1, 2025,” the CCE said.

At the forum which was attended by the Chief Executive Officers of oil companies, bank representatives and potential investors, he said funding remained the biggest challenge in Nigeria’s upstream sector.

According to him, the commission as a business enabler has planned to tackle to challenges by connecting interested parties.

Komolafe, therefore, said the event was put together to connect all stakeholders in order make the additional one million barrels a reality.

“One of the factors that affected business is that activities were happening in silos but the NUPRC now realises the need to bring everyone together.

“We want you all to network. Bank of America is here as well as representatives of other banks,” he said.

Komolafe said the reforms initiated by the President Bola Tinubu’s administration had improved Nigeria’s economic metrics.

He said crude production now averaged 1.71mbpd with a peak daily output of 1.83mbpd, evidence of tangible progress.

The CCE said 46 Field Development Plans had been approved from January 2025 till date, representing immediate investment commitments and production growth potential.

He said the rig count had grown to over 60 out of which at least 40 were active.

He disclosed that this was the best time for existing investors to deepen their stake in Nigeria.

“The drive to reach and sustain one million barrels per day in incremental capacity and beyond will require Floating Production, Storage and Offloading units for cluster developments.

“It will require Floating Storage and Offloading vessels for crude evacuation and storage; and a variety of Modular Offshore Production Units and Early Production Facilities to enable early production and accelerated monetisation.

“All these need investments and the prospects are here in Nigeria,” he added.

Speaking earlier, the Chairman, House Committee on Petroleum Resources (Upstream), Mr Alhassan Doguwa, promised investors that his committee would not push any legislation that would undermine investments.

Doguwa, while saying that the Petroleum Industry Act, 2021 would not be tampered with arbitrarily, reaffirmed the House of Representatives commitment to resist any arbitrary changes that would undermine investments.

His counterpart in the Senate, Sen. Eteng Williams, also promised investors that Nigeria’s legislature would continue to pass business-friendly laws and urged investors not to fret.

By Emmanuella Anokam

$3bn not enough to tackle Nigeria’s climate challenges, says CAPPA 

Michael Simire
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$3bn not enough to tackle Nigeria’s climate challenges, says CAPPA 

The Corporate Accountability and Public Participation Africa (CAPPA) says the $3 billion annual climate finance being sought by Nigeria is not enough to tackle the country’s climate challenges.

The Associate Director, Climate and Environment, Mr. Olamide Ogunlade, said in Port Harcourt on Tuesday, November 11, 2025, that the amount was insignificant given Nigeria’s climate challenges.

It will be recalled that Nigeria has unveiled a plan to mobilise $3 billion annually in climate finance through its National Carbon Market Framework and Climate Change Fund.

Kashim Shettima
Vice President, Sen. Kashim Shettima

The Vice President, Kashim Shettima, made the disclosure at the ongoing United Nations Climate Change Conference (COP30) in Belem, Brazil.

Ogunlade said the annual climate finance was small compared to the attention needed to tackle the current climate challenges faced by the country.

The CAPPA official however said that when mobilised, the fund should be directed towards renewable energy, reforestation, flood control, and climate-smart agriculture.

“There is need for transparency and accountability, the fund should be used transparently and inclusively, with oversight from government, civil society, and affected frontline communities,” he said.

Ogunlade expressed skepticism about Nigeria’s target to cut emissions by 32 per cent in 2035, citing policy inconsistencies and over-reliance on fossil fuels.

“This will be challenging under the current policy inconsistency, the country needs to prioritise renewable energy, and reduce dependence on fossil fuels,” he said.

He said that Nigeria’s key priorities at the ongoing COP30 should be to secure climate finance, promote renewable energy investments, and push for loss and damage funding.

Ogunlade said that with Nigeria’s role in promoting climate action and sustainability in Africa, the country should leverage its political advantage to push for fairness in climate finance and technology transfer.

The CAPPA director urged developed nations to clear their historical liabilities, honor finance and technology pledges, and support Nigeria’s climate and development goals without compromising growth.

Ogunlade expressed hope that Nigeria’s participation in COP30 would contribute to global climate efforts, and that the country’s stance on eco-preservation would be fairly supported.

By Precious Akutamadu

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