The European Commission announced on Monday, November 3, 2025, to fund different innovative projects in Europe aimed at reducing climate-damaging emissions with a total of €2.9 billion ($3.3 billion).
The 61 selected initiatives span across 19 industrial sectors and 18 European countries.
“The focus is on energy-intensive industries, renewable energy and energy storage, net-zero mobility and buildings, cleantech manufacturing and industrial carbon management,” a press release said.
Ursula von der Leyen, President of the European Commission
Most of the projects will be based in France, Spain, Belgium, Finland, and Norway. Two projects from Germany are also among the awarded initiatives.
The projects have the potential to save around 221 million tons of CO2-equivalent in their first 10 years of operation, the commission said, which represents the annual emission of almost 10 million cars.
The funding for the grants comes from revenues from the European Union’s emissions trading scheme (EU ETS), which aims to support the bloc’s transition to climate neutrality.
Stakeholders in the Nigerian Maritime and Energy Sectors, on Sunday, November 2, 2025, said that increased participation of women in the nation’s ocean economy is crucial to unlocking potentials of the blue economy.
They made this known in separate interviews in Lagos.
Mrs. Nneka Obianyor, Director of Reforms Coordination and Blue Economy, Nigerian Maritime Administration and Safety Agency (NIMASA), said that the ocean economy globally generates above $2.5 trillion annually.
Minister of Marine and Blue Economy, Adgboyega Oyetola, addressing the United Nations Ocean Conference in Nice, France on June 10
According to her, the ocean economy serves as a key driver of trade, food security, and innovation, adding that Nigeria and Africa generally, should harness the potentials of its blue economy by unlocking the capabilities of women.
“The ocean economy is a key engine for growth in Africa; but to fully unlock its potential, we must unlock the talents of women.
“The maritime industry remains one of the world’s most male dominated sectors, with women representing less than two per cent of seafarers and about 10 per cent of leadership positions.
“In Nigeria and West Africa, women are making visible progress in logistics, administration, academia, and policymaking.
“We now see female ship captains, port managers, and maritime lawyers; Yet, women remain underrepresented in seafaring, port operations, and technical roles,” she said.
She outlined core principles for gender inclusion, such as: Leadership for gender equality, inclusive governance, access to resources, capacity building, workplace safety, education in ocean sciences, gendered marine conservation, and community advocacy.
Obianyor noted that a sustainable and inclusive ocean economy depends on integrating empowerment principles that can tackle systemic barriers against women.
Another maritime expert, Capt. Eddidong Akpanebe, identified cultural barriers and gender stereotypes as major obstacles to women’s participation, warning that Africa could not afford to underutilise half of its talent pool.
Citing the United Nations Women Empowerment Principles (WEPs), she said that the framework provides a corporate structure for gender equality across industries but needs to be tailored to suit Africa’s maritime realities.
Akpanebe proposed key actions to promote inclusivity including embedding gender considerations in blue economy policies, building female talent pipelines, unlocking capital for women-led ventures among others
In the same vein, Chairperson, Downstream, Women in Energy, Oil and Gas (WEOG), Mrs. Ruth Audu-Nungh, noted that both the ocean and energy sectors have for long been male-dominated.
She harped on the importance of mentorship and knowledge transfer for young women entering the field and urged then to remain resilient, build professional visions, and seek mentorship to excel in the blue economy.
A young urban planner based in Abuja, Ezekiel Ufuoma Lucky, has frowned at the conduct of the 56th International Conference and Annual General Meeting (AGM) of the Nigerian Institute of Town Planners (NITP) that held in the federal capital city from October 27 to 30, 2025.
In an open letter titled “A Cry for Order: A Young Planner’s Displeasure with the Ongoing 2025 NITP Conference” andaddressed to the National Executive Council of the NITP, Lucky picked holes in issues related to conference registration and organisation, venue and facilities, registration fees and value, and youth inclusion, among others.
Lucky, who stated that theletter is written in sincerity with no intention to undermine the institute’s efforts, described as “truly embarrassing” a situation whereby “an organisation advocating for smart cities and digital futures should rely on manual registration in 2025”.
President of the NITP, Dr Chime Ogbonna,
“In an era marked by digital transformation, it is remarkable that manual registration still prevails. Long queues, confused participants, and paper sign-ins create a scene that clashes with the professional image of organisers. One might expect at least a digital front desk system where attendees can check in efficiently using laptops or QR codes. Instead, we observe disorganisation, delays, and confusion, all of which are avoidable through basic digital planning,” he noted.
The town planner further described the venue as “equally disappointing due to its inadequacy”.
His words: “The main hall was severely too small for the number of attendees, with over 40% of participants forced to stand or sit outside, unable to follow the proceedings properly. For an event of this scale, such poor spatial planning undermines the core principles of our profession.
“The condition of the facilities was also quite disappointing. The amenities were in a dreadful state, with only one of four loos working, and even that was unhygienic. It is hard to reconcile this with a professional gathering supposedly focused on sustainable and inclusive environments.”
He flayed the increase in registration fees, saying that standard fee doubled from ₦50,000 last year to ₦100,000 this year for individual members, and student members’ fees rose from ₦20,000 to ₦50,000. Despite the higher costs, he lamented that the quality of organisation, materials, and overall experience for participants declined.
“Students, especially, felt disappointed. Their conference pack consisted only of a plain file bag and a journal, with no conference material, a disrespect to their enthusiasm and investment. It is unacceptable to suggest that most of their payment was used for ‘feeding’. Students attend conferences mainly to learn, network, and seek exposure, not just to eat.
“If the institute no longer wishes to engage student members meaningfully, it is better to suspend such membership categories than to invite them only to belittle their contribution and participation,” Lucky advised.
Decrying a perceived absence of youth inclusion, he wrote: “Maybe the most upsetting aspect of this conference is how young planners are completely shut out from panel sessions and key discussions.
“How can a professional organisation that frequently promotes ‘future sustainability’ and ‘participatory planning’ ignore the very group that represents the future?
“It’s frustrating to attend sessions on ‘digital futures’ and ‘smart planning’ where no young planner or young person has been invited to share insights or ideas. The same familiar faces keep rotating through these events each year without any genuine change, and this is said without any disrespect.
“The young planners are not asking for special privileges; inclusion is the straightforward way forward. They deserve the chance to have a seat at the table and a voice in shaping the future that will soon be ours to shoulder. If we are not involved in discussions about the future of planning now, then when will we be considered ready?”
Making a call for change, Lucky urged the NITP National Executive Council and Conference Planning Committee to henceforth:
Engage young planners in panel discussions and planning sessions. Let them contribute ideas and experiences.
Collaborate with the Young Planners Forum to co-design future conferences, especially on logistics, technology, and participant engagement.
Digitise registration and attendance systems, ensuring efficiency and transparency.
Improve venue standards and facilities, ensuring comfort and accessibility for all.
Eliminate segregation between professional and student members. If fees are collected, benefits should be proportionate and fair.
Establish clear communication and direction systems during conferences, from signposts to information desks, to avoid confusion and crowding.
Promote transparency in the use of conference funds, allowing members to know what their payments cover.
A statement from UN Climate Change Executive Secretary Simon Stiell on the launch of the BTR Synthesis Report, released on Friday, October 31, 2025
This first Synthesis Report of Biennial Transparency Reports marks another milestone in the implementation of the Paris Agreement.
The submission of over 100 Biennial Transparency Reports is a clear sign that Parties are very actively starting to implement the Paris Agreement, with practical real-world actions, across economies and societies.
UN Climate Change Executive Secretary, Simon Stiell, speaking at the 10th African Ministerial Conference on the Environment (AMCEN) in Abidjan, Côte d’Ivoire, on September 5, 2024
Based on the first Biennial Transparency Reports from 109 countries, where data are available, this UN Climate Change synthesis report provides a valuable initial picture of countries’ varied progress on the basis of information and data reported up until 2022.
It shows that climate actions are being implemented in a systematic way, and driving real-world progress, but must be broadened and accelerated.
Across every region, countries are putting the Paris Agreement into action – through stronger policies, new institutions, and whole-of-society approaches that are driving change in the real economy.
From renewable energy to electric vehicles, from energy efficiency gains to reforestation and emission trading schemes, to growing attention on adaptation as part of climate change strategies, the evidence is clear: the transition is well under way, but must now speed up and scale up urgently.
The report shines a light on factors driving success, and factors that are holding back faster progress.
Several crucial enablers emerge clearly. More and higher quality finance needs to flow where it’s needed. Strong data and transparency systems are vital. And inclusive, just transitions are crucial to ensure far more people share in the vast human and economic benefits of stronger climate actions, in a fast-changing world.
Several barriers are equally clear, including capacity and data gaps, and a persistent shortfall in finance and technology support for developing nations.
Given this report reflects information and data reported up to 2022, substantial further progress can be expected to have been made on wide-ranging fronts. Our new reports on National Adaptation Plans and Nationally Determined Contributions in recent weeks point to many relevant areas of progress, particularly the increasing evidence of whole-of-economy, whole-of-society climate planning and policy-making, and improving implementation.
The findings from this first Synthesis Report suggest that future reports will show stronger progress – with countries strengthening their transparency systems, expanding the volume and reliability of data, and receiving more targeted capacity building support. These initial reports mark the beginning of a new era of enhanced transparency that will enable more informed decision-making and data-driven climate action.
Looking more immediately ahead, this report provides valuable insights ahead of COP30 in Belem, which will be the world’s moment to respond, and pick up the pace, in this new era of implementation.
COP30 must also send a clear global signal: that nations are unwavering in their commitment to climate cooperation under the Paris Agreement, with strong and concrete outcomes across all key issues.
And it must connect climate action to real lives everywhere, to help spread the vast benefits of climate action to far more people: stronger economies, more jobs, better health and more resilient communities, more affordable and secure clean energy, accessible to all, to name just a few.
This report – along with our recent reports on Nationally Determined Contributions and National Adaptation Plans – all point in the same direction: the Paris Agreement is working, driving climate actions across economies and societies.
But the pace of change does not yet meet the urgency of this moment, as climate disasters hit every nation harder each year, with colossal human and economic costs.
So, I ask you to see this report as both a marker of progress and a call to greater and faster action, at COP30 and every year thereafter.
As Lagos continues to battle environmental challenges associated with its rapid urbanisation, residents across the state have raised concerns over its worsening air quality, largely attributed to indiscriminate waste burning, vehicular emissions, and poor sanitation practices.
They disclosed this in separate interviews on Sunday, November 2, 2025, in Lagos.
From Ikorodu to Sasha, Oshodi to Alagbado among others, fumes from refuse fires, exhaust pipes and industrial discharges hang in the air, posing serious threats to public health and the environment.
Lagos State Commissioner for the Environment and Water Resources, Tokunbo Wahab
Mrs. Itunu Dada, a civil servant and resident of Ikorodu, disclosed that air pollution in her community is largely caused by refuse burning.
“Instead of patronising the PSP operators, many residents prefer to burn their waste.
“When you go outside, you see fumes of smoke from effluents. This causes cough and chest irritation. Around the markets, refuse dumped on the road median emits offensive odours. It’s appalling,” she said.
Dada called on the Lagos State Government to shut down markets with poor sanitation and strengthen its waste evacuation efforts.
“Those evacuating waste from the drainage leave them for weeks before removing them. When it rains, the waste washes back into the drains. This is not good.
“There should be a task force to monitor illegal dumping and burning of refuse within the metropolis,” she said.
In Sasha, a suburb in the Alimosho Local Government Area, Mrs Stella Lawrence, a teacher, said air pollution has become an everyday reality for residents.
“The huge population of Lagos contributes to it. Many commercial vehicles are not roadworthy and emit thick fumes.
“Generator use also adds to the problem. The government should ban unfit vehicles and ensure the PSPs remove refuse regularly to discourage waste burning. Providing regular electricity supply will also help to reduce generator fumes,” she added.
Similarly, Miss Chioma Ndukwe, a communications expert and resident of Okota, said air pollution has become severe in densely populated areas such as Oshodi.
“When you walk through Oshodi Market, you can hardly breathe; emissions from industries, waste burning, traffic fumes and poor sanitation combine to create a choking environment,” she said.
Ndukwe urged the government to provide public toilets, conduct regular vehicle emission checks and regulate industrial discharges.
“We need to take air pollution seriously. Everyone deserves to breathe clean air in Lagos,” Ndukwe said.
In Lekki, Mr. Bruno Ajede, a businessman, acknowledged that while the area is relatively clean, pollution persists in crowded parts such as markets and Ajah.
“Car fumes are the main problem. Air pollution affects human health and can cause respiratory issues like asthma,” Ajede said.
Also, Mr Ajibola Ajayi, a marketer and resident of Alagbado, said the community suffers from huge vehicular pollution.
“Many vehicles here emit heavy smoke because there’s little or no regulation,” Ajayi said.
Reacting to the development, Mr. Friday Oku, President, Association of Waste Pickers of Lagos, said Nigeria’s continued dependence on fossil fuel is worsening both environmental and health hazards.
“There’s a lot of danger associated with fossil fuel use. It’s causing serious harm to the environment and to human health.
“That’s why we are working to promote renewable energy and find ways to mitigate air pollution in our society,” Oku said.
He, however, criticised what he described as inconsistent government policies that undermine emission reduction efforts, citing the recent ban on waste pickers using carts, known locally as “cart pushers,” as an example.
“When we are trying to cut emissions from fossil fuels, the government suddenly bans cart pushers without providing any sustainable alternative.
“How do you ban them and replace them with tricycles that cause even more pollution? It shows a lack of policy direction,” he said.
Oku added that while private and civil society groups are striving to reduce emissions through renewable energy and cleaner alternatives such as Compressed Natural Gas (CNG), government actions often contradict climate commitments.
“For us, we are against fossil fuel emissions from vehicles and markets. We must shift towards renewable energy and CNG. That’s the only way to reduce greenhouse gas emissions,” he emphasised.
He also stressed the need for behavioural change among Nigerians.
Health experts opine that prolonged exposure to polluted air increases the risk of respiratory infections, heart disease and lung cancer.
However, the Lagos State Government, through the Ministry of the Environment and Water Resources, has reiterated its commitment to tackling air pollution through its Blue and Green Economy Initiative and Air Quality Monitoring Network.
The state has also deployed mobile sensors in strategic locations to measure pollution levels and enforce compliance among industries and transport operators.
Residents and environmental advocates argue that until citizens stop burning waste and the government enforces environmental laws effectively, Lagos’ quest for clean air may remain elusive.
On the main stage of the Global Citizen Festival: Amazonia, in Belém, just one week before COP30, a coalition of financial and independent partners announced a commitment to build a global just transition investment platform: The Journey Fund.
It will be an innovative fund pairing government fossil fuel phase-out commitment with private investment commitments to realise a just energy transition that builds regenerative, post-fossil economies while delivering social, environmental, and economic benefits across stakeholders.
Incubated by Bridging Ventures and structurally supported by EBG Investment Solutions Ltd, among other financial institutions, the Journey Fund will blend catalytic and commercial capital to turn high-impact opportunities in communities working toward a just transition into scalable, investable assets.
Chair and Founder of the Fossil Fuel Non-Proliferation Treaty Initiative, Tzeporah Berman
The fund model helps political commitments become real investments in countries and sub-national jurisdictions participating in theFossil Fuel Treaty Initiative by financing projects that replace fossil fuel dependence with sustainable and accessible alternatives.
By aligning finance with political leadership, the fund demonstrates how cooperation can power communities, foster shared prosperity, and build regenerative, post-fossil economies that deliver both resilience and growth.
Duarte da Silva, Managing Partner at EBG Investment Solutions, stated: “The Journey Fund represents a clear investment opportunity in the emerging markets driving the energy transition. By aligning with countries that are taking concrete steps to phase out fossil fuels, the fund offers access to transition-aligned markets with high growth potential. It provides a structured, de-risked entry point for investors seeking measurable impact alongside stable, long-term returns – demonstrating that climate-aligned investment can be both responsible and financially sound.”
Tzeporah Berman, Chair of the Fossil Fuel Treaty Initiative:“The Fossil Fuel Treaty was born to fill a gap in international law — to complement the Paris Agreement by addressing what it left out: the need to stop expanding fossil fuels. Our partnership with the Journey Fund is to now fill the next gap: help our participating nations to turn their bold phase out political commitments into delivery. Together, they form two halves of the same solution: governments showing the courage to act, and investors backing that courage with capital. This is how we move from promises to progress – building regenerative, post-fossil economies that make hope real.”
Prof. Rajiv Joshi, author of the Initial whitepaper on the Fund, and Founder & CEO of Bridging Ventures incubating the initiative, said: “The Journey Fund helps countries stop investing in the old world and start investing in the new – phasing in regenerative solutions across energy, food, infrastructure and nature, while phasing out fossil dependence. The International Environment Agency signals a turning point: investment in clean alternatives is beginning to outpace fossil fuels, proving that when policy meets finance, transition happens. With the Fossil Fuel Treaty and diligent global partners, we are showing how public-private-people collaboration turns courage into delivery – real projects, reliable power, resilient food systems and decent jobs creating bioeconomies – where no one is left behind.”
The Journey Fund operates as a global fund-of-funds platform, collaborating with select regional investment managers focused on high-quality private market impact investing under unified standards for governance, impact measurement, and reporting. The coalition behind the Fund — including EBG Investment Solutions Ltd., Bridging Ventures, BONUS Investment Bank Colombia, and Fundación Avina – brings decades of impact and sustainability expertise to deliver attractive returns alongside strong social, environmental, and economic outcomes.
Working with local partners such as FDN, FENOGE, and CAF, the Fund secures de-risked, policy-backed pipelines, sovereign co-investment, and community credibility – ensuring successful implementation, long-term impact, and catalytic capital that multiplies public and private investment.
Enrique Cadena, Managing Director of Structured Finance at National Development Finance (FDN Colombia), said:“At FDN, our mission is to mobilize capital toward projects that drive sustainable growth and national development. The Journey Fund represents a new generation of blended-finance partnerships – one that aligns international investors with Colombia’s public policy priorities for a just and orderly energy transition. By contributing our structuring expertise and risk mitigation tools, we help translate ambition into bankable projects that can attract large-scale investment, strengthen local economies, and demonstrate how financial innovation can accelerate the path toward a resilient, low-carbon future.”
Camilo Baptiste Muñoz, Partner at BONUS Investment Bank Colombia, said: “At BONUS, we’ve worked hand in hand with the Colombian government for nearly three decades to finance the country’s infrastructure and development. Today, we’re seeing international partners stepping in with innovative financial mechanisms that channel funds into projects that are both impactful and profitable – from the Amazon to our urban centres. The Journey Fund embodies this new era of collaboration, where global capital and local expertise come together to accelerate Colombia’s just and sustainable transition.”
Pablo Vagliente, Director at Ikatu (Avina’s Foundation Business Unit), said: “As Impact Partners of The Journey Fund in Latin America, our mission is to ensure that the transition delivers real benefits for people and communities. Latin America holds both immense needs and vast potential for sustainable and accessible energy, same with its regenerative potential in the region. The Journey Fund offers a powerful model to turn that potential into action – translating political will into concrete projects that expand clean power, improve soil health, create local jobs, and strengthen community resilience.
The Fund targets emerging and frontier markets — initially Latin America and the Caribbean, Middle East and Africa, and Small Island Developing States (SIDS).The global platform and its regional sub-funds provide diversified exposure across geographies, currencies, and asset classes. A global portfolio manager works closely with regional managers on capital allocation and investments across energy and infrastructure assets, early stage and growth companies, and mature, buyout, and pre-IPO companies – all aligned with the fund’s purpose of advancing a just transition and long-term equitable wealth generation.
The Fund’s first pilot in Latin America will launch with an initial $10 million capital envelope and a $200 million fundraising campaign to support Colombian projects such as decentralised solar in Amazonian communities. BONUS Investment Bank Colombia, a regional fund manager engaged for Colombia, has already led project structuring for the fund’s first investable projects in Colombia that will bring solar power to 50,000 people in the Amazonian regions of Mitú and Puerto Leguízamo, cutting 38,000 tonnes of CO2 per year currently emitted from imported fossil fuels – the first step in a model that could scale to reach 650,000 people and strengthen local economies thanks to reliable access to clean energy.
Juan Camilo Cruz Rodriguez, Coordinator, Colombia 2050 Vision, National Planning Department at the Ministry of Mines and Energy in Colombia, said: “As a country historically dependent on fossil fuels, Colombia is demonstrating that the transition to a clean economy is both possible and necessary. Through the Journey Fund, we are proving that phasing out fossil fuels can go hand in hand with economic stability and opportunity.
By pairing bold public policies with strategic private investment, we are turning our commitment to the Fossil Fuel Treaty into concrete action – channeling capital where it can build new industries, create decent jobs, and deliver sustainable growth. This partnership marks a decisive step toward transforming our fossil legacy into a foundation for a regenerative and prosperous future.”
As world leaders gather at COP30, the Journey Fund stands as a concrete example of how climate ambition can be turned into action by bridging policy and finance to power a just fossil-free future.
Dylan Malloy, Managing Director at Bridging Ventures, added: “The Journey Fund meets the moment. Across the world, people yearn for faster climate action – but even more urgently, they’re calling for reliable, affordable access to opportunity. The Journey Fund takes a holistic approach to investing in opportunity – not just in assets, but in the energy systems, infrastructure, and economic models needed to build a better world for the 22nd century and beyond.
“It looks ahead to what the world will be like a hundred years from now for those born today, while improving the lives of current generations. It’s clearer than ever that the old models no longer work and have fueled deep inequality. The Journey Fund is designed to help the world transition toward inclusive, future-ready economies that create diversified, generational wealth and well-being.”
Javier de Iruarrizaga, the Head of Strategy & Partnerships at Bridging Ventures, said: “Over the past year, we’ve worked to turn a bold concept into a working model – one that bridges political will and private capital to make the just transition investable. The Journey Fund shows that innovation in finance can send powerful signals: when vision, policy, and investment align, transformation follows. Through this process, we’ve developed an approach that streamlines access to bankable projects and scales impact – strengthening the transition on one side and offering impactful, de-risked investment opportunities on the other.”
Andrés Patiño, Business Development Lead at co-investment partner FENOGE (Fondo de Energías No Convencionales y Gestión Eficiente de la Energía), said: “The Journey Fund exemplifies the collaboration Colombia has been championing – where public instruments and private finance accelerate a just and inclusive energy transition. For a country historically reliant on fossil fuels, this partnership shows that investing in renewable energy and efficiency drives economic diversification, social inclusion, and long-term resilience. Through FENOGE, we’re proud to mobilise capital and support innovative projects, demonstrating that an equitable energy future is achievable.”
Ana María González-Forero, Advisor the the General Director APC Colombia, said: “At APC-Colombia, we believe that international cooperation and innovative finance must go hand in hand to secure a just and sustainable transition. The Journey Fund embodies this approach — aligning Colombia’s policy leadership with global partners and new forms of capital to turn ambition into tangible progress.
“Catalytic and first-loss capital play a crucial role in signaling where markets need to move, unlocking larger flows of private investment toward projects that deliver both climate impact and shared prosperity. Through this collaboration, Colombia is showing that cooperation and financial innovation can accelerate the transition for the benefit of all.”
Andrés Ceballos, Former Advisor to the General Director of APC-Colombia, said: “As a former government employee and now as a political consultant, I have seen the great promise of The Journey Fund. It is more than a financial vehicle; the Fund also aspires to reimagine development by prioritising communities and building capacity from the bottom up, all through patient and purposeful multistakeholder alliances. Without a doubt, the Journey Fund will set a new benchmark in how we finance development in the 21st century.”
The Oilwatch International, a civil society organisation (CSO), has urged the Federal Government to adopt sustainable measures to address climate change manifestations in the Niger Delta region and the country.
The coordinator of the group, Mr. Kentebe Ebiaridor, made the call during the group’s Annual General Meeting, held in Port Harcourt, Rivers State, on Saturday, November 1, 2025.
Ebiaridor said that the theme of the meeting was “Advancing Climate Justice in Nigeria: From fossil fuels to fossil freedom”.
He said that decades of environmental degradation and health impact caused by oil exploration and production had necessitated the call for action to curb climate change impact on the citizens.
He listed the transition to renewable energy sources as part of the sustainable measures to address climate change manifestations in the region.
Ebiaridor further identified the enforcement of strict emission controls on industries, particularly in the oil and gas sector, to reduce air pollution and greenhouse gas emissions.
He also recommended the implementation of energy-efficient practices and technologies in buildings, industries, and transportation systems to reduce energy consumption.
He further encouraged the implementation of climate change adaptation and resilience plans by developing and implementing plans to help communities adapt to the impacts of climate change, such as sea-level rise, droughts, and floods.
Other measures, he said, included providing support to vulnerable communities to adapt to climate change impacts, including providing climate-resilient infrastructure, climate-smart agriculture, and climate-related disaster risk reduction.
Ebiaridor expressed dissatisfaction with the current state of the environment and the lack of transparency and accountability in the oil and gas sector.
He called on the government, multinational oil companies and manufacturing industries to end gas flaring by using the by-product for raw material.
The Coordinator, Oilwatch in Nigeria, Dr Emem Okon, called for climate mitigation finance to be targeted at community women in rural areas.
Okon emphasised the need for targeted funding and sustainable measures, pointing out that women were disproportionately affected by climate change, particularly in the area of flooding.
Okon, who is also the Executive Director, Kebetkatche Women Development and Resource Centre, said that women in the Niger Delta region were taking proactive steps to cope with the impacts of climate change, including health impacts, destruction of livelihoods, and loss of property.
She urged government to support community women with vocational skills and startup funds to cushion the effects of climate-related disasters.
“We are calling for implementable strategies to promote climate justice and sustainable development in the Niger Delta region,” she said.
Also, the Executive Director of another CSO, We the People, Mr. Ken Henshaw, called for the protection of the environment by legal means, saying it would be a key to achieving environmental justice.
Henshaw alleged that oil companies had been moving away after their operations in the Niger Delta without environmental remediation and accountability.
He warned that the oil companies “disinform and manipulate public opinion to avoid taking responsibility for their actions”.
Henshaw called for the reform of the Petroleum Industry Act to remove clauses suspected to be unfair to communities affected by oil spills.
He also advocated for the establishment of a global court to punish crimes against nature, known as ecocide, and for oil companies to be held liable for environmental damage caused by their operations.
He emphasised that the demand for environmental justice is a call to action to protect the environment and ensure that those responsible for environmental degradation were held accountable.
Some energy experts have expressed concern over the Federal Government’s approval of a 15 per cent import duty on petrol and diesel, saying it may drive up fuel prices.
They expressed their concerns in separate interviews on Saturday, November 1, 2025, in Lagos.
On Oct. 29, President Bola Tinubu approved a 15 per cent import tariff on petrol and diesel, a policy expected to raise the landing cost of imported fuel.
Fuel
The experts said that the move could ranslate into higher pump prices for consumers, with some estimating an increase of up to N150 per litre or more.
Dr Ayodele Oni, Partner and Chair of the Energy and Natural Resources Practice Group, Bloomfield Law Practice, said the policy, though aimed at protecting local refining, could worsen inflation and cost-of-living pressures.
“The imposition of a 15 per cent duty will increase the landing cost of imported fuel, and this additional cost will be passed on to consumers.
“In a deregulated economy like Nigeria’s, where prices are determined by market forces, there’s a strong possibility of price volatility,” Oni explained.
Oni noted that the government’s stated objectives for the policy include strengthening national energy security, supporting domestic refining capacity, and ensuring competitive market stability.
“By making imported fuel more expensive, local refineries will become more competitive.
“This should, in theory, encourage domestic production and reduce dependence on imported fuel,” he said.
However, he warned that without adequate infrastructure and operational refineries, the policy could backfire, resulting in fuel scarcity and black-market activities.
“If local refining capacity remains weak, this duty could disrupt supply, as over 60 per cent of Nigeria’s fuel is still imported.
“The government must back this policy with infrastructural support, refinery rehabilitation, and efficient logistics to prevent scarcity,” Oni added.
Oni also emphasised that the increased duty would raise operational costs for importers and marketers, affecting competition and liquidity within the downstream sector.
“This policy could push out smaller independent marketers who may be unable to meet the new cost requirements, leaving the market dominated by larger players,” he said.
As an alternative, Oni advised the government to incentivise local refining through tax holidays, duty-free importation of refining equipment, and infrastructure investment rather than imposing heavy tariffs on imports.
Meanwhile, Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), however, lauded th decision, describing it as a step toward achieving energy security and sustainable local refining.
Its national president, Dr Billy Harry, commended President Bola Tinubu for approving the duty, saying it would encourage investment in domestic refining and stabilise the downstream sector.
“This policy will increase local refining capacity, boost the economy, create jobs, and strengthen the Naira
“While there may be short-term challenges such as price hikes and job losses in the import sector, the long-term benefits outweigh the disadvantages,” Harry said.
He urged the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to ensure that local refineries are properly regulated to prevent monopolistic tendencies.
“We must guard against a situation where a few refineries dominate the market. Monopoly could defeat the purpose of this policy,” he noted.
He also appealed to the Nigerian National Petroleum Company Ltd. (NNPC Ltd.) to guarantee adequate crude oil supply to local refineries to ensure consistent production and prevent scarcity.
A downstream operator who preferred anonymity raised questions about the current state of local refining and transparency in the sector.
“The government has supported local refineries through tax incentives and crude supply in naira, but the cost of locally refined products remains higher than imported fuel.
“Before imposing such tariffs, there should be full transparency about production levels, cost structures, and refinery efficiency,” the source said.
He cautioned that without clear data and accountability, the 15 per cent duty could worsen the situation by raising both local and imported fuel prices simultaneously.
“If imports become more expensive and local refineries can not meet demand, the outcome will be higher prices and scarcity,” he said.
He urged the government to critically assess the timing of the policy and ensure that refinery operations were capable of meeting national fuel demand before implementing the duty.
“Supporting local manufacturing isn’t bad, but it must be backed by transparency and realistic planning,” he added.
According to him, while the 15 per cent import duty aims to stimulate local refining and reduce dependence on imports, its success will depend on transparency, infrastructure, and effective regulation.
The former National Operations Controller of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Mr. Mike Osatuyi, has commended President Bola Tinubu for approving a 15 per cent import duty on petrol and diesel.
In an interview in Lagos on Sunday, Osatuyi said that the policy would protect local refineries and attract new investments into the sector.
He noted that it would ensure the sustainability of both existing and upcoming private refineries, encourage modular refinery operators, and attract foreign investors.
Osatuyi added that the policy would discourage importation of cheaper refined products, improve competition among marketers, and ultimately benefit Nigerians.
“The Federal, State and Local Governments will also gain from increased revenue, job creation, foreign exchange savings, and the stabilisation of the naira,” Osatuyi noted.
According to him, the import duty demonstrates the Tinubu administration’s commitment to protecting domestic investment in the downstream petroleum sector.
He described the Dangote Refinery in Lekki, Lagos, as a “national asset and Nigeria’s energy security facility,” commending its role in reducing dependence on imported petroleum products.
Osatuyi criticised the prolonged non-performance of government-owned refineries like Port Harcourt, Warri, and Kaduna, saying that over ₦11 trillion had been spent between 2010 and 2023 on maintenance and rehabilitation without results.
“It is unpatriotic that attempts to privatize these refineries in 2007 were resisted, costing the nation over ₦264 billion annually in maintenance with zero output,” he said.
He emphasised that the 15 per cent import duty would not primarily serve as a revenue measure but as a protective policy to ensure local refineries remain viable against imported products.
Osatuyi highlighted the growth of Nigeria’s refining capacity, citing the Dangote Refinery’s current 650,000 barrels per day (bpd) capacity – making it the seventh largest in the world – and its planned expansion to 1.4 million bpd, which would make it the largest globally.
He also mentioned other upcoming projects such as the BUA Refinery in Akwa Ibom State with 200,000 bpd capacity and several modular refineries including OPAC, Duport, Niger Delta (Aradel Holdings), Edo, Waltersmith, Azikel, Ogbele, and Abia refineries, with a combined capacity of about 150,000 bpd.
“A responsible government must protect these massive private investments worth billions of dollars,” Osatuyi stated.
He further explained that fears of product scarcity were unfounded, as Dangote Refinery alone could meet national demand and still have excess for export.
The refinery, he said, has a storage capacity of over 4.6 billion litres, 200 loading gantries, and can produce 57 million litres of petrol, 25 million litres of diesel, and 20 million litres of jet fuel daily when fully operational.
Osatuyi urged local refiners to act responsibly and not exploit the import duty policy to make excessive profits.
Stressing that regulators such as the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) must ensure fair pricing and market stability.
He called for vigilance to prevent abuse of the import duty protection, fuel scarcity, or black-market activities.
He noted that the Federal Government’s new centralised revenue collection system, effective January 2026, would ensure compliance.
The former IPMAN official also applauded the President’s directive allowing local refineries to purchase crude oil in Naira, describing it as a major step in stabilising operations and reducing pressure on foreign exchange.
“President Tinubu has again demonstrated courage and patriotism by prioritising national interest over political considerations.
“His decision to impose a 15 per cent import duty on petrol and diesel is a bold step to protect Nigeria’s economic sovereignty,” he said.
Dangote Petroleum Refinery has reaffirmed its commitment to ensuring steady and uninterrupted supply of Premium Motor Spirit (PMS) and Automotive Gas Oil (diesel) nationwide, with a daily production capacity exceeding the domestic demand.
Speaking on the development, Group Chief Branding and Communications Officer, Dangote Industries Limited, Anthony Chiejina, said the refinery’s operations are driven by the company’s dedication to supporting national energy stability and consumer confidence.
“Our refinery is currently loading over 45 million litres of PMS and 25 million litres of diesel daily which exceeds Nigeria’s demand,” Mr Chiejina said. “We are working collaboratively with regulatory agencies and distribution partners to guarantee efficient nationwide delivery. Dangote remains steadfast in its commitment to meeting the energy needs of Nigerians. This significant production capacity not only guarantees local supply but also enhances energy security and reduces dependence on imports.”
Dangote Petroleum trucks
He noted that improved local production of petroleum products has helped stabilise the exchange rate and strengthen the naira.
“We have reduced foreign exchange outflows and increased inflows, which in turn supports the naira and strengthens the economy,” he added.
He further explained that it would be unpatriotic for anyone to criticise the recently announced tariff, which, according to him, is a good start. He emphasised that the tariff is designed to protect domestic industries from unfair competition and safeguard local production.
“Dumping engenders poverty, discourages industrialisation, creates unemployment and leads to revenue loss for the government. Across the world, nations protect their local manufacturers and industries from the threat of dumping. Dumping destroyed our textile industry, which was once a major employer of labour and creator of wealth,” Chiejina said.
He noted that beyond the tariff, the government should strengthen its monitoring and enforcement mechanisms to prevent the dumping of substandard and toxic petroleum products by unscrupulous and rent-seeking individuals who prioritise profiteering at the expense of Nigerians, often undermining well-intentioned government policies for their selfish interests.
He added that the prevalence of dumping in past years discouraged investors from establishing industries in Nigeria, as imported products flooded the market at unsustainable prices, undermining local production. The new tariff policy, he noted, would benefit local refiners and encourage fresh investments in the downstream oil sector, thereby strengthening Nigeria’s industrial base and creating more jobs.
Chiejina commended the foresight of President Bola Ahmed Tinubu for approving the tariff policy aimed at strengthening and transforming Nigeria’s downstream oil and gas sector.
He noted that the decision reflects the administration’s commitment to creating a stable, business-friendly environment that supports local investment and enhances energy security.
“President Bola Ahmed Tinubu continues to embody courageous and visionary leadership, renewing the hope of Nigerians and restoring investor confidence in the nation’s economy. His administration’s bold and business-friendly reforms are reshaping the downstream oil and gas sector, unlocking new opportunities for industrial growth and national prosperity. The latest policy initiative stands as a testament to his foresight – one of the most transformative steps yet toward securing Nigeria’s energy future and empowering local industries to thrive,” Chiejina said.
He warned that failure to protect local industries could lead to large-scale dumping from countries in Asia and Europe with excess production capacity. Such practices, he said, would strangulate domestic refineries, cripple allied industries, and undermine the laudable policies of President Bola Tinubu’s administration aimed at promoting industrial growth and economic stability.
Chiejina urged rent-seekers to reconsider their business practices and align with the Federal Government’s vision for a self-sustaining energy sector, rather than promoting the dumping of petroleum products in Nigeria.
He emphasised the need for a collective sense of patriotism and responsibility among industry stakeholders, noting that national progress can only be achieved through shared commitment to policies that strengthen local industries and protect the economy.
Equipped with advanced technology and extensive infrastructure, the refinery is expected to significantly eliminate reliance on fuel imports, enhance supply chain stability, and alleviate pressure on foreign exchange reserves.
President of Dangote Industries Limited, Aliko Dangote, recently assured Nigerians that the prices of petrol will not be hiked during the ember months, despite recent global price increases.
“I want to assure Nigerians that the Dangote Refinery is fully committed to maintaining an uninterrupted supply of petrol throughout the festive period. Nigerians can look forward to a Christmas and New Year free of fuel anxiety,” he said.
Since commencing petrol production in September 2024, Dangote Petroleum Refinery has played a pivotal role in ensuring price stability, reducing the cost of petrol, aimed at stabilising the market and easing the burden on consumers. It has also eliminated the recurring fuel scarcity and long queues at filling stations that Nigeria often experienced, particularly during festive periods.
He noted that the average price of Premium Motor Spirit (PMS) in September 2024 was about N1,030 per litre, compared to an average of N841–N851 per litre in September 2025, following the implementation of the Dangote Refinery’s Direct Delivery Scheme.
Similarly, as of September 2024, the pump price of Automotive Gas Oil (AGO) ranged between N1,400 and N1,700 per litre, depending on the state, with prices reaching up to N1,700 in most northern states. By September 2025, however, the average price had dropped significantly to around N1,020 per litre, reflecting the refinery’s impact on stabilising the market and reducing logistics costs.
In comparison, petrol prices in neighbouring West African countries range between $1.20 and $2.00 per litre, while the average price in Nigeria remains around $0.60 per litre, a clear indication of the refinery’s profound impact on affordability and supply stability.
Seplat Energy Plc, a leading Nigerian independent energy company listed on both the Nigerian Exchange and the London Stock Exchange, has announced its unaudited results for the nine months ended September 30, 2025, recording a revenue of N3.356 trillion for the period from N1071 trillion reported same period last year. Its gross profit rose to N1.356 trillion from N531.5 billion Year-on-Year.
Dividend payout declared for the period was 7.5 US cents per share, consisting of 5.0 US cents per share base and 2.5 US cents per share special.
Cash generated from its operations for the period grew to N2.152 trillion from N633.8 billion Year-on-Year whilst operating profit rose to N1.096 trillion from N411.3 billion Year-on-Year.
Chief Executive Officer, Seplat Energy Plc, Roger Brown
Earnings before interest, taxes, depreciation, and amortization (EBITDA) hit N1.715 trillion for the 9M period, representing a rise from N573.4 billion recorded in 2024 9M.
The Company’s 9M 2025 production averaged 135,636 boepd up 185% from reported 9M 2024 (47,525 boepd); its first Liquefied Petroleum Gas (LPG) cargo was sold to the domestic market, improving domestic energy access and supporting clean cooking; and ANOH gas plant on track to deliver first gas in 4Q 2025.
Operational highlights
• 9M 2025 production averaged 135,636 boepd up 185% from reported 9M 2024 (47,525 boepd), and up 18% vs. pro-forma 9M 2024 production, while 3Q 2025 production averaged 137,888 boepd, a 1% improvement on 2Q 2025.
• 3Q 2025 production onshore of 56,219 boepd, was up 5% QoQ supported by production improvement in OML40.
• 3Q 2025 production offshore of 81,669 boepd was down 2.5% QoQ, continued strong performance of the idle well programme offset by planned downtime on EAP, due to the IGE replacement project and lower output from A/K.
• Offshore, the idle well restoration programme added c.33.4 kbopd gross production capacity from the first 33 wells restored to production.
• Carbon emissions intensity for onshore assets: 25.2 kg CO2/boe 21% lower than revised 9M 2024: 32.0 kg CO2/boe. End of routine flaring for onshore assets on track for end 2025 completion. Carbon emissions intensity for our offshore assets was 51.2 kgCO2/boe in 9M 2025.
Financial highlights
• Unit production operating cost of $14.1/boe (9M 2024: $9.7/boe), within guidance of $14-$15/boe.
• Adjusted EBITDA of $1,112 million, up 190% on prior year (9M 2024: $383.0 million).
• Cash capital expenditure of $180.0 million (9M 2024: $102.4 million).
• Balance sheet remains strong, end-Sept cash at bank $579.8 million (9M 2024: $433.9 million), excluding $135.4 million restricted cash.
• Net Debt at end-Sept of $386 million down 43% on prior quarter (2Q 2025: $676 million). Pro-forma ND/EBITDA improves to 0.27x.
• Repaid and cancelled Westport junior facility and refinanced Westport senior reserve based loan (‘RBL’) facility at lower cost of debt.
• Repaid the outstanding $100 million on our RCF. At end September 2025, the $350 million RCF is undrawn and fully available.
Dividend
Outlined new dividend policy at the CMD. Strong YTD cash generation supports additional distribution. 3Q 2025 declared dividend of 7.5 US cents per share, +63% QoQ and +108% YoY, consisting of 5.0 US cents per share base and 2.5 US cents per share special.
2025 Outlook
• 2025 guidance is updated as follows:
• Production guidance narrowed to the upper half at 130-140 kboepd (previously 120-140 kboepd).
• Capex guidance narrowed to $270-290 million (previously $260-320 million).
• Unit production operating cost guidance is unchanged at $14.0-15.0/boe.
Commenting on the results, Roger Brown, Chief Executive Officer, Seplat Energy Plc, said: “At our Capital Market Day (CMD) in September, we set out our medium-term vision for the Company, targeting 200 kboepd working interest production and $1 billion in cumulative dividends in our roadmap to 2030.
“As we approach the first anniversary of the MPNU acquisition, we are clearly displaying our ability to operate a business at scale. We delivered a third consecutive quarter of production growth at the upper end of productionguidance, and we are pleased to be able to narrow production to 130-140 kboepd. Our financial performance year to date has been extremely robust, generating after tax cash flows in excess of $1 billion, enabling significant deleveraging to 0.27x ND/EBITDA, well below our target levels.
“In addition, while we anticipate some cash outflow in 4Q 2025, our strong cash generation year to date supports declaring a special dividend of 2.5 US cents/share, delivering a total dividend to shareholders this quarter of 7.5 US cents/share. This is aligned with the new dividend policy of returning an increasing share of free cash flow to shareholders, laid out at the CMD.
“We have continued the momentum into the final quarter of the year, making substantial progress in the past few days to ending routine flaring onshore, a commitment we have made for 4Q 2025, and we expect to complete the PIA conversion process for our onshore business imminently, which will further support the delivery of our ambitious 2030 roadmap laid out at the CMD.”
