Minister of Power, Chief Adebayo Adelabu, has commended President Bola Ahmed Tinubu for his decisive intervention in addressing the longstanding debt crisis affecting Nigeria’s power generation companies.
Minister of Power, Chief Adebayo Adelabu, with President Bola Ahmed Tinubu and other dignitaries at the meeting
Speaking at a high-level meeting between the President and the Association of Power Generation Companies at the Presidential Villa, Adelabu lauded the administration’s commitment to resolving the liquidity challenges stifling the sector’s growth.
Adelabu highlighted the transformative strides made in the power sector since May 2023, crediting the President’s visionary leadership for restoring investor confidence and driving tangible improvements across the electricity value chain.
He emphasised that the President’s presence at the meeting underscored his unwavering dedication to the stability and sustainability of Nigeria’s power sector, noting that in less than two years, the administration had achieved critical milestones that were once deemed impossible.
The Minister listed key achievements under the Tinubu administration which include the enactment of the Electricity Act (2023), the first legislation signed by President Tinubu, which decentralises and liberalises Nigeria’s electricity market to foster competition and private-sector participation. The administration also launched the first Integrated National Electricity Policy in 24 years, providing a coherent framework for sector planning and execution.
Over $2 billion in new capital has been attracted for grid expansion and off-grid electrification projects, while annual sector revenue rose by 70 percent, from ₦1 trillion in 2023 to ₦1.7 trillion in 2024, reducing government subsidy obligations by ₦700 billion. Installed generation capacity has grown from 13,000MW to 14,000MW, with an all-time peak generation of 5,801MW and zero national grid collapses in 2025. Additionally, over 300,000 smart meters have been delivered under the ₦700 billion Presidential Metering Initiative, with 3.45 million more in procurement.
While celebrating these achievements, Adelabu warned that the sector’s progress risks being derailed by a ₦4 trillion debt overhang owed to GENCOs – a legacy liability accumulated since 2015. He stressed that without urgent liquidity support, the sector faces the real risk of generation shutdowns, which would cripple the economy and undo the hard-earned gains. Adelabu appealed for partial debt defrayment to sustain operations while audit processes conclude, emphasising that the Tinubu administration’s reforms have already laid the groundwork for a self-sufficient power market.
Echoing concerns raised by industry leaders Tony Elumelu and Kola Adesina, Adelabu emphasised the need to address gas supply shortfalls, particularly in the Afam axis, where unpaid gas suppliers have constrained generation. He described liquidity as the oxygen of the sector and proposed immediate solutions, such as unlocking 800 million cubic feet of gas through NLNG, to stabilise generation while long-term reforms take root.
Adelabu endorsed the President’s appeal for GENCOs and financial institutions to exercise patience as the government completes its verification process. He acknowledged the frustrations of investors but stressed the need to ensure that every liability claimed is valid and verifiable. While the administration will not inherit debts without due scrutiny, it remains committed to resolving them transparently.
Adelabu praised the ₦4 trillion bond programme, granted anticipatory approval by the President, as a viable solution and urged stakeholders to collaborate on finalising the terms to ensure only legitimate debts are securitised.
In closing, Adelabu reiterated that electricity remains the cornerstone of Nigeria’s industrial and economic ambitions, urging collective perseverance to sustain the sector’s revival. He expressed confidence that with the President’s continued support, the sector would overcome its legacy challenges and deliver stable, affordable power to every Nigerian.
The meeting was attended by the Chief of Staff to the President, Femi Gbajabiamila; the Coordinating Minister of the Economy and Finance, Wale Edun; the Minister of Information, Mohammed Idris; the Special Adviser on Energy, Olu Verheijen; GENCO Chairmen, including Col. Sani Bello (rtd); and industry leaders Tony Elumelu and Kola Adesina.
Key players and experts in Nigeria’s oil and gas and power sectors have called for concerted measures and actions that will lead to property utilisation of the country’s vast gas reserves.
L-R: Mr. Temitope Ogedengbe of NLNG, Olu Phillips of Channels TV, Yemisi lzuora, Publisher Oriental News, Engr. Chichi Emenike of Neconde Energy Limited, Japhet Aien of REA, Adelanke Dayo-Adepoju of MEMAN and Ehimen Joseph of PETROAN
They expressed the opinion that Nigeria’s gas reserves are critical asset towards achieving the ongoing energy transition that will be affordable and sustainable.
Speaking at the 4th Oriental News conference in Lagos on Thursday July 24,2025, themed “Integrating Nigeria’s Gas Potentials into Strategic Energy Transition Initiatives”, the Manager, Energy Transition, NLNG, Temitope Ogedengbe, advised that Nigeria must avoid adopting a “copy-paste” approach to energy transition, insisting that the country must tailor its strategy to reflect local realities, including the urgent need for economic growth, energy security, and national development.
“Our transition must leverage our unique strengths and resources to grow our economy,” Ogedengbe said. “Energy transition should not be a copy-paste exercise.
“Nigeria must design its own, since we need economic development, energy security, and to address developmental issues.”
Ogedengbe, while highlighting challenges around gas utilisation, lamented that despite Nigeria’s abundant natural gas resources, a large portion is still being flared or reinjected due to the absence of viable commercial arrangements.
“We’re not taking nearly the amount we should be. We are still failing and reinjecting because there is no commercial arrangement to optimise this; for many reasons,” he stated.
He noted that while marginal fields hold potential, they are difficult to produce economically.
“The issues there are marginal fields, which are difficult to produce,” he said, adding that the Nigerian Upstream Petroleum Regulatory Commission’s (NUPRC) Gas Flaring Commercialisation Programme is trying to address this.
According to him, a significant chunk of Nigeria’s gas is still either exported or flared, while domestic utilisation and value addition remain underdeveloped.
“We are not investing enough, and we are not examining the right approaches,” he added.
Speaking on the global LNG market, Ogedengbe noted that although there is still a market for LNG produced by Nigeria, demand patterns are shifting, particularly in Europe, where buyers now favour lower-carbon LNG options.
He said, “There is still a market for LNG produced in Nigeria, but what is happening is that Europe is asking for lower-carbon LNG.
“There’s a need to use operational levers to reduce carbon, attract premium markets, and unlock funding opportunities, including through reduced taxes and levies.”
He further stated the NLNG remains central to Nigeria’s gas future, revealing that the company plans to expand its capacity to 30 million tonnes per annum.
“As part of its energy transition strategy, the company is integrating technologies and processes aimed at reducing emissions and generating carbon credits.
“We’re using offsets to reduce our emissions, both at the national and international levels, to take carbon out of the atmosphere and promote our operations,” he explained.
Ogedengbe emphasised the need for a multi-pronged, well-coordinated approach to decarbonising the country’s gas sector to ensure long-term viability and global competitiveness.
Also, at the same conference, former Power Minister, Prof. Bart Nnaji, said that shortage of gas supply and infrastructure deficit has continued to act as disincentive to investment and growth of the power sector.
Prof. Bart Nnaji, former Power Minister
Nnaji said in the next two decades power generation in the country would be dominated by gas fired plants.
He attributed Nigeria’s persistent gas shortage to inadequate investment in gas infrastructure and called for more support from both government and the private sector.
Nnaji, who chaired the event, addressed stakeholders from across the oil and gas value chain, including key government officials.
He said the country’s gas sector remains underdeveloped due to insufficient investment in extraction, transmission, and transportation.
“The focus should not rest solely on government-led efforts – the private sector must also play a vital role,” the former minister said.
“What we need is for the government to act as a true enabler, offering the necessary support for infrastructure and gas harvesting. It’s baffling that with over 210 trillion cubic feet of gas, we still face local shortages.
“We’re unable to produce sufficient quantities to support operations across the country. Though operations improved this year, they weren’t previously at full capacity. A seventh train is underway, but we need more gas.”
He said Nigeria’s history of mining and exporting coal before abandoning it reflects a wider pattern of resource neglect.
Nnaji said gas-fired plants are critical to Nigeria’s power generation, emphasising the need for a reliable supply to ensure thermal plants operate effectively.
He noted that Geometric Power Ltd, which he chairs, is among the companies generating electricity through thermal sources.
“For effective supply from thermal plants, an adequate and reliable gas supply is vital. While we have hydro power, gas-fired plants remain dominant and will likely stay that way for the next ten to twenty years,” he said.
Nnaji acknowledged the role of renewable energy in rural electrification but maintained that Nigeria’s baseload power must continue to come from gas or hydro sources.
He noted that hydro power, however, comes with limitations that require regional cooperation.
In her submission, Chichi Emenike, Acting Managing Director and Gas Asset Manager of Neconde Energy Limited, sounded alarm over the consequences of some policies of Government that has undermined the ongoing energy transition.
According to her, unpaid gas supplies, dollarised operations, and policy inconsistencies are discouraging investment in the sector.
Emenike, said Neconde, for instance, has gas that has been produced and supplied to the electricity generation companies (GenCos) and that “has not been paid for almost two years now.”
“This is a serious conundrum, whereas we have sourced funds from somewhere to produce these gas molecules from our facilities. How am I going to pay back?”
Emenike further explained that Nigeria’s upstream gas production is highly dollarised, making it costlier than crude oil development and difficult to sustain without a commercially viable framework.
“Don’t forget that the gas production industry is highly dollarised, including the requisite inputs. There is no part of the operation, including the technology, that is produced locally. The bulk of it has to be imported in US$.
“The O&M, well drilling, and accessories to drill a gas well are all dollarised. So, it costs more than what it costs to drill a crude oil well. The handling of a gas well is highly sophisticated, unlike that of crude oil.”
Speaking on systemic issues within the gas-to-power value chain, Emenike said, “Over 500 million standard cubic feet (scf) of gas are being transported with the NGIC pipeline.
“If you multiply this figure by one dollar, you will understand the cost. Whereas so much money went into drilling some of these wells, it costs $35,000 plus or minus, and that is outside other assumptions of fees.”
Commenting on the financing and investment environment, Emenike called for a pragmatic national energy plan that begins with achievable goals, rather than lofty ambitions.
“Let us start with what is doable; I mean the low-hanging fruit. Let us stop with big numbers. We should tidy up small fields that are struggling to juggle both CAPEX and OPEX.
“We need to sit down once as a nation to be selfish enough to determine what is needed to take care of Nigeria’s economy alone in the Gulf of Guinea.”
She called for urgent clarity on Nigeria’s position in the energy transition and a realistic approach to funding.
“Where do we sit as Nigerians today on this energy transition plan? Where is the money to run the transition?
“Presently in Nigeria, it is difficult for a gas investor to determine end-to-end where the funds would be coming from. We need a strategy; we need to be serious. Or else, gas investors would rather take what they should have invested in the Nigerian economy to Mozambique or elsewhere.”
Emenike further warned about the economic risks associated with policy instability.
“Gas economics is such that it must be end-to-end. Even before you draw down the first financing, you have tied that investment to a commercial arrangement.
“When you have a business, as much as you think you know, in the case of Nigeria, once you put your leg out in this economy, you will see so many things flood in unexpectedly. Your IRR (rate of return) goes down the drain due to policy flip-flops and multiplicities of levies and fees.”
She insisted that the sector needs regulatory reforms and an end to what she described as rent-seeking behaviour by government agencies.
“We have to deal with the rent-seeking attitude of our regulators to enable investors repatriate their investment financing.
“They should stop flogging investors with all forms of regulations and later charge them with potential incidents of non-conformity, which translates to fines, even for not operating, after they have created the crisis.”
Calling for collaborative efforts, she advocated infrastructure sharing and coordination within the value chain.
“We need to leverage infrastructure to unlock the stranded assets across the country. We need to look at how to put together our war chest to achieve a lot for the industry. We need to set the rules of the game.”
She emphasised the importance of investor confidence and a market-driven approach.
“Every investor wants to see a clear line of sight. Market forces should be allowed to play out. The government should not create a monopolistic environment that stifles investment. They should allow it to have that flexibility.”
“None of these government officials understand how investors raise capital to finance their projects and the terms of it. Government has no business in business. They should stop the rent-seeking attitude and stop looking for short-term benefits. Quick fixes will not work.”
She has therefore challenged the FG to focus inwardly and begin with achievable solutions.
According to her, “There is much more to be gained if we have a very selfish Nigerian plan that focuses on Nigerian interests alone. This can service the entire Gulf of Guinea if we are serious. Let us start with the small gas fields.
She further urged the FG to stop putting benchmarks on gas for power, adding that the market forces should be allowed to dictate the price.
Emenike charged the Nigerian government to allow flexibility in the market and encourage alliances within the value chain operators.
On Sunday, July 27, 2025, the EU and U.S. struck a framework agreement that imposes a 15% tariff on most EU goods entering America. In exchange, the EU has committed to purchase $750 billion in U.S. energy, including liquefied natural gas (LNG).
European Commission President Ursula von der Leyen sits with US President Donald Trump after the announcement of a trade deal between the US and EU in Turnberry, Scotland, on July 27, 2025. Photo credit: Evelyn Hockstein/Reuters
In addition, President Donald Trump of the US said the EU would invest $600 billion in the US and buy military equipment worth “hundreds of billions of dollars”.
European Commission President, Ursula von der Leyen, confirmed that the EU would seek to buy an extra $250 billion of US energy products each year from now until 2027.
“With this deal, we are securing access to our largest export market,” she said.
At the same time, she acknowledged that the 15 percent tariffs would be “a challenge for some” European industries.
Inn a reaction, Andreas Sieber, Associate Director of Policy and Campaigns at 350.org, said: “It’s deeply shortsighted to see the EU strike a so-called ‘deal’ with the U.S. that locks us into expensive, polluting gas. Fossil gas is not only worse for the climate than coal, but it also comes at a higher cost. This risks locking Europe into decades of fossil fuel dependence, volatile energy bills, and accelerating the wildfires and flooding already wreaking havoc across the continent. While Trump celebrates this as a win, communities on both sides of the Atlantic are suffering with deadly climate impacts.
“European country governments and EU Commissioners must reject importing more LNG and fossil fuels from the United States. At this critical juncture for climate action, and as we await an updated climate target from the EU, we must accelerate a just transition away from fossil fuels and a full pivot to clean, affordable, renewable energy.”
According to observers, the United States has continued to flood Europe with fossil fuels, cementing LNG and fossil fuel dependency accounting for over 50% of Europe’s LNG supplies in Q1 of 2025, while contributing virtually nothing to the EU’s clean technology imports. According to official EU statistics, this is a lopsided trade that locks Europe deeper into fossil dependence.
LNG is not a bridge to decarbonisation, it is a super-polluter:
Over a 20 year timeframe, methane is at least 80 times more potent than CO2 as a climate pollutant. As such, LNG may represent the most climate-damaging fossil fuel currently in use.
In 2024, the European Union sourced a staggering 90% of its gas from abroad, a dependence that leaves the bloc dangerously exposed to foreign suppliers, price volatility, and geopolitical blackmail, undermining any claim to true energy security. Deepening dependence on U.S. fossil fuels is a strategic misstep that leaves Europe exposed to price shocks and supply disruptions. Relying on massive LNG imports not only locks in higher and more volatile energy costs but also undermines Europe’s long-term energy security and sovereignty.
LNG-fired power remains up to three times more expensive than renewable energy in many regions. Even with a looming global glut that may push prices down, LNG is set to stay uncompetitive – locked into high costs and outpaced by cheaper, cleaner energy alternatives.
The EU must show real leadership and reject any deal that ties our future to fossil gas. 350.org calls on EU decision-makers to:
Commit to a 1.5°C aligned climate plan, with an updated and ambitious NDC and 2040 climate goal.
Accelerate investment in clean, renewable energy and modern grids to ensure affordability and resilience.
Cancel new LNG terminals and long term contracts that risk becoming stranded assets and legal liabilities.
French Prime Minister, Francois Bayrou, called the deal a “dark day” for Europe, saying the bloc had caved in to the US president with an unbalanced deal that spares US imports from any immediate European retaliation.
“It is a dark day when an alliance of free peoples, brought together to affirm their common values and to defend their common interests, resigns itself to submission,” Bayrou wrote on X of what he called the “von der Leyen-Trump deal”.
Wolfgang Niedermark, a board member of the Federation of German Industries trade body, called the deal “an inadequate compromise” with the EU “accepting painful tariffs”.
A 15 percent tariff rate “will have a huge negative impact on Germany’s export-oriented industry”, he said.
Benjamin Haddad, France’s European affairs minister, said: “The trade agreement … will bring temporary stability to economic actors threatened by the escalation of American tariffs, but it is unbalanced.”
Echoing that sentiment, Dutch Foreign Trade Minister, Hanneke Boerma, said the deal was “not ideal” and called on the commission to continue negotiations with Washington.
As the world approaches 80 years since the atomic bombings of Hiroshima and Nagasaki in Japan, the International Trade Union Confederation (ITUC) along with organisations across the peace, labour, climate and economic justice movements issued a joint statement calling on governments and international institutions to prioritise nuclear disarmament and climate action amidst rising global instability in the face of the climate crisis.
On August 6, 1945, the United States dropped an atomic bomb on Hiroshima, resulting in massive destruction and loss of life, marking a pivotal moment in World War II
The declaration points to a growing existential threat from a “billionaire coup” undermining democratic institutions, fuelling militarism and accelerating inequality.
Agnes Appiah-Hall, 350.org Global Campaigns and Organising Director, said: “Eighty years on from the atomic bombing of Hiroshima and Nagasaki, we find ourselves at a crossroads. The accelerating climate crisis, the rise of global conflicts, and the kidnapping of democracy by billionaires and fossil fuels lobbyists all feed into a dangerous path backwards.
“Instead of investment into our collective futures we’re seeing global defence budgets ballooning, fossil fuel subsidies rising, and democratic space shrinking. War, inequality, and environmental collapse are driven by the same system, and thus require bold, systemic action.
“The just transition to renewable energy is not just about emissions – it’s about freedom, dignity, and peace. This September we’re drawing the line against polluters, billionaires, and repression, and demanding a world that protects people and the planet, where those fueling these crises face accountability.”
The ITUC and allies call for:
Universal ratification of the Treaty on the Prohibition of Nuclear Weapons, and full-scale nuclear disarmament.
Adoption of progressive and coordinated global tax reforms, including a UN Framework Convention on International Tax Cooperation.
Implementation of living wages and decent work for all, with strong labour rights and support for union organising and collective bargaining.
Reduction in global military expenditures, to redirect funds towards public services, social protection and climate action.
Creation of a United Nations Fair Conversion mechanism to support countries shifting from military-based economies to sustainable industries.
Universal expansion of social protection systems, especially for marginalised groups such as women, migrant workers and those in informal work.
Integration of disarmament and sustainability into national climate plans, ensuring military industries are part of emissions reduction strategies.
Togo’s farmers struggle with poor soils and declining yields. The reason: low awareness of nutrients status of soils and inefficient fertiliser use.
Farming in Togo
A regional initiative is helping smallholder farmers in Togo farm fertile ground again. The Regional Hub in West Africa and the Sahel is driving a fresh initiative to improve fertility and soil health by promoting efficient fertiliser use in Togo.
To address this the Regional Hub for Fertiliser and Soil Health Hub for West Africa and the Sahel- a collaborative initiative to promote soil health and sustainable fertiliser use in the region – is using data science and advanced modelling to develop site specific fertiliser recommendations for farmers to improve soil fertility management and productivity.
Launched in 2024 as a sub-programme of the Economic Community of West African States (ECOWAS), the Regional Hub brings together diverse stakeholders who include IITA, International Fertiliser Development Centre (IFDC), OCP Africa, African Plant Nutrition Institute (APNI), University Mohammed VI Polytechnic (UM6P) and the World Bank through the Accelerating Impacts of CGIAR Climate Research for Africa (AICCRA) project.
The Regional Hub provides technical assistance for the development and implementation of ongoing, new fertiliser and soil health-related investments in Africa. One of its key functions focuses on developing site-specific fertiliser recommendations tailored to local soil conditions and crop needs using high-quality agronomic datasets and cutting-edge data science techniques. The fertiliser recommendations align with the principles of Integrated Soil Fertility Management (ISFM) and the 4Rs of nutrient stewardship; right source, right rate, right time, and right place to support climate-smart, efficient, and sustainable agriculture across the region.
“Farmers are the real beneficiaries of the Regional Hubs’ work,” says Abalo Adodo, Country Director, of the International Fertiliser Development Centre (IFDC) in Togo. “They will know how to promote and keep fertility of their soil, and improve their skills on soil health management, which will help them to improve their productivity without disturbing the nutrients balance or accelerating the degradation of their soil.”
Through a recent workshop, the Regional Hub conducted a comprehensive assessment of Togo’s Soil Information System (SIS) status, revealing critical gaps such as fragmented soil data, which is not well shared, an underused SIS platform (FertiTogo), and limited capacity in soil laboratories at the Institut Togolais de Recherche Agronomique (ITRA) and the University of Lomé.
The assessment also enabled the explanation of the Nutrient Omission Trials (NOT) protocol and to facilitate the implementation of trials in line with the 20 functions aligned with the Lome roundtable declaration. This method helps avoid wasting fertiliser by showing exactly what the soil lacks. During this workshop, three out of the 20 functions were initiated for implementation in Togo.
The workshop was also helpful in identifying weaknesses in Togo’s fertility and soil health management enabling the Regional Hub to develop an action plan by providing valuable information on soils and fertiliser application.
“This is crucial for Togo’s agriculture transformation because it will help the country to recommend an appropriate fertiliser formula for soils and ensure that information for soil health management is readily available at any time and at low cost for farmers,” said Adodo.
The IFDC leads the activities of the Region Hub in Togo serving as direct contact with the government and other key stakeholders. The Togo Ministry of Agriculture as the main regulator body and ITRA as a public research institution are at the forefront of any interventions for agriculture sector transformation.
“Having government and research institutions buying-in the intervention of the Regional Hub is key to our success. Being able to promote such collaboration is a big factor of success for the Regional Hubs activities in Togo,” Adodo said.
Adodo emphasised that access to value-added information on the fertility and soil health status for Togo is the key in ensuring that any interventions made match reality when it comes to fertility and soil health.
Togo will have information set up on the global system. As a result, this can help to inform key partners on the types of interventions and support to provide to Togo improve productivity for sustainable food security in the country. By using the local resources to implement activities, Regional Hub is promoting a transfer of capacity, which will be needed when the project ends.
Stakeholders in Nigeria’s climate and environmental sector have resolved to develop an action plan and intensify advocacy to fast-track the operationalisation and implementation of a regulatory framework for the country’s carbon market.
Stakeholders at the research dissemination workshop
The resolution emerged at a recent Research Dissemination and Stakeholders’ Workshop organised by the Environment for Development (EfD) Nigeria, University of Nigeria, Nsukka.
EfD Nigeria is participating in broader international study on the Potential and Challenges of Voluntary Carbon Market in seven developing countries.
The Centre had an earlier engagement with the stakeholders at the commencement of the project in January 2025. The recent workshop was to update them on the findings of the study as it concerns Nigeria and to seek their input and validation.
Participants included representatives from relevant government agencies, the private sector, academia, and climate policy experts.
Absence of regulation hinders sale of carbon credits by investors
Presenting preliminary findings of the study, Prof. Nnaemeka Chukwuone and Dr. Chizoba Oranu of EfD Nigeria highlighted that Nigeria currently lacks an operational regulatory framework for its carbon market. The regulatory gap has stalled critical processes, such as the issuance of letters of no objection, which is an essential requirement for project developers to trade carbon credits.
The report further revealed that unclear land and forest ownership rights continue to discourage community participation in voluntary carbon market projects. In many instances, affected communities are excluded from crucial decision-making processes, including the development of governance frameworks.
Some of the other challenges identified by the study include limited capacity among policymakers in key aspects of carbon market operations such as Measurement, Reporting and Verification (MRV), pricing, validation, and carbon registries; over-reliance on foreign consultants, which raises costs and limits local ownership and the fragmentation of ongoing voluntary carbon projects due to the absence of a national policy direction.
Awareness on carbon market is needed
Some of the recommendations from the study include the integration of carbon market curricula in Nigerian universities; establishment of certification hubs in academic and research institutions; creation of a national carbon registry and MRV system to ensure data integrity and reduce dependence on foreign platforms; support for local institutions to undertake project validation and auditing, thereby lowering certification costs; and the formation of independent technical committees and action groups to lead reform implementation.
Despite current obstacles, including market volatility, delayed financial returns, limited local financing, and low technical capacity, the study notes that Nigeria has significant potential to become a major player in the global carbon market. Realising this, however, requires urgent reforms anchored on political will, institutional collaboration, and strategic public-private partnerships.
“In Nigeria, the carbon market concept remains vague to many. It is often perceived as an elusive promise tied to undelivered climate finance from developed countries,” said Prof. Nnaemeka Chukwuone, Director of EfD Nigeria.
He emphasised the need for widespread awareness creation and capacity building to enable meaningful Nigerian participation in the global carbon economy.
“The University of Nigeria stands firmly behind REPRC–EfD Nigeria in its mission to generate critical data and recommendations for shaping an effective and inclusive carbon market framework for the country,” said Prof. Oguejiofo Ujam, the Ag. Vice-Chancellor of the University of Nigeria.
Next steps and advocacy strategy
The stakeholders agreed to use the report of the study as a launch pad for advocacy to influence the operationalisation and implementation of Nigeria’s carbon market regulatory framework
They proposed using influential platforms, such as the Nigerian Governors Forum, to escalate awareness and policy influence of the study.
One immediate goal of the advocacy is to urge relevant government agencies to begin issuing letters of no objection to project developers, a practice already adopted in some countries without formal frameworks. This would enable Nigeria to unlock the economic and environmental benefits of carbon markets while a full regulatory structure is being anticipated.
They requested that a final report of the study and the advocacy plan should be made to them in August 2025.
Founder of the Dangote Group, Aliko Dangote, has hailed President Bola Ahmed Tinubu as a listening president whose policies are restoring investor confidence in Nigeria’s economy.
L-R: Chief Executive Officer, Dangote Fertiliser Limited, Vishwajit Sinha; Chief Executive Officer, Independent Project Monitoring Company Limited (IPMC), Robert Ade-Odiachi; President / CE, Dangote Industries Ltd, Aliko Dangote; Minister of Industry, Trade, and Investment, Dr. Jumoke Oduwole; Vice President, Oil and Gas, Dangote Industries Limited, Devakumar Edwin, during the Minister’s visit to Dangote Petroleum Refinery and Fertiliser Plant in Ibeju Lekki Lagos on Saturday July 26, 2025
Dangote made the remarks on Saturday July 26, 2025, during a visit by the Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, to the $20 billion Dangote Petroleum Refinery & Petrochemicals and Dangote Fertiliser Limited in Ibeju-Lekki, Lagos.
Commending President Tinubu’s efforts to address crude supply challenges to domestic refineries, Dangote praised the Naira-for-Crude initiative and the Nigeria First policy as bold and transformative steps capable of revitalising the economy.
“I believe we must sincerely thank His Excellency, President Bola Ahmed Tinubu, for ensuring that there have been improvements in the supply of crude oil. His insistence that all crude oil transactions be conducted in naira has been particularly commendable. For us to effectively meet market demand – which we have the capacity to do – it is essential that crude is priced and purchased in our local currency,” he said.
The leading industrialist noted that these initiatives, along with other economic reforms, have brought a measure of stability to the naira-to-dollar exchange rate. He expressed optimism that the naira would continue to strengthen in the coming weeks as the effects of the reforms become more visible. According to him, the improved market predictability has helped investors make sound business decisions and restored confidence in the investment climate.
“We are also beginning to see some stability in the naira-to-dollar exchange rate, which has had a positive impact. There is now less fluctuation, and this has brought a degree of predictability to the market
“For those of us in the business sector, this is a welcome development, as it allows us to plan more effectively. Looking ahead, as market conditions continue to improve, we can expect to see a more favourable exchange rate,” he said
Dangote also commended the Federal Government for establishing a One-Stop Shop (OSS) initiative to improve coordination among regulatory and security agencies, thereby facilitating smoother operations under the Naira-for-Crude programme. He emphasised that the OSS had significantly reduced bottlenecks and allowed for real-time resolution of issues, in line with President Tinubu’s directive.
“The administration of His Excellency, President Bola Ahmed Tinubu, has established a One-Stop Shop that is working diligently. I am confident that the government intends to replicate this model in other sectors, particularly to streamline the clearing of goods – an essential area of business.
“At present, we are not experiencing any significant issues with loading. All the relevant agencies have been brought together under one roof, including the Navy, NIMASA, NPA, and others. This coordination has greatly improved efficiency. Whenever issues arise, they are promptly addressed through the leadership of the Chairman of the Technical Committee, Mr Zack Adedeji, who is doing an excellent job.”
The business magnate further disclosed that the refinery is set to launch a new initiative involving the deployment of 4,000 CNG (Compressed Natural Gas) tankers to distribute petroleum products more efficiently and in an environmentally friendly manner. He explained that the move would reduce logistics costs and ensure Nigerians receive products at more affordable prices, closer to their locations.
Meanwhile, the Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, reaffirmed the Federal Government’s commitment to promoting domestic investment and addressing the challenges faced by local investors.
“We are here today as a result of President Bola Ahmed Tinubu’s clear focus on domestic investment. As you are aware, we held a Domestic Investment Summit on Monday – the first of its kind. Today, we are gathered at the invitation of Alhaji Aliko Dangote, a leading investor who has committed an extraordinary number of resources to Nigeria’s development,” she said.
Dr Oduwole hailed the refinery as a landmark project, noting that even governments shy away from initiatives of such scale. She said the administration is demonstrating real support for domestic investors by taking practical steps to reduce constraints and foster growth.
“He has taken on a project of such magnitude—one that even governments often hesitate to undertake. As an administration, we do not take this lightly. We are here to show our full support for him, both as a foremost domestic investor and as a prominent champion of African investment on the global stage.
“Our support is not limited to words; we are demonstrating our commitment through action. We are encouraging other domestic investors by recognising and backing those, like Alhaji Dangote, who put Nigeria first. This is not mere rhetoric – our time, attention, and effort are fully aligned with our priorities.
“That is why we have dedicated an entire day to immersing ourselves in this project – the Dangote Refinery.”
She added that the Federal Government is continuously engaging with stakeholders and reviewing regulatory and legislative frameworks to reduce business costs and stimulate industrial development.
Global gas flaring surged for a second year in a row, wasting about $63 billion in lost energy and setting back efforts to manage emissions and boost energy security and access. Flaring, the practice of burning natural gas during oil extraction, reached 151 billion cubic meters (bcm) in 2024, up 3 bcm from the previous year and the highest level in almost two decades.
Gas flaring. Photo credit: eleonimages/Shutterstock
An estimated 389 million tonnes of CO₂ equivalent – 46 million of that from unburnt methane, one of the most potent greenhouse gases – was needlessly emitted.
While some countries have reduced flaring, the top nine largest-flaring countries continue to account for three-quarters of all flaring, but less than half of global oil production. Satellite data compiled and analysed in the World Bank’s annual Global Gas Flaring Tracker shows that flaring intensity – the amount of gas flared per barrel of oil produced – has remained stubbornly high for the last 15 years.
“When more than a billion people still don’t have access to reliable energy and numerous countries are seeking more sources of energy to meet higher demand, it’s very frustrating to see this natural resource wasted,” said Demetrios Papathanasiou, World Bank Global Director for Energy and Extractives.
The report highlights that countries committed to the Zero Routine Flaring by 2030 (ZRF) initiative have performed significantly better than countries that have not made the commitment. Since 2012, countries that endorsed ZRF achieved an average 12% reduction in flaring intensity, whereas those that did not saw a 25% increase.
To accelerate progress, the World Bank’s Global Flaring and Methane Reduction (GFMR) Partnership is supporting methane and flaring reduction projects through catalytic grants, technical assistance, policy and regulatory reform advisory services, capacity building, and institutional strengthening. For example, in Uzbekistan, GFMR allocated $11 million to identify and fix methane leaks in the gas transportation network, cutting methane emissions by 9,000 tonnes annually, and potentially reaching up to 100,000 tonnes each year.
“Governments and operators must make flaring reduction a priority, or this practice will persist. The solutions exist. With effective policies we can create favourable conditions that incentivise flaring reduction projects and lead to sustainable, scalable action. We should turn this wasted gas into an engine for economic development.” said Zubin Bamji, World Bank Manager for the Global Flaring & Methane Reduction (GFMR) Partnership.
The Enugu State Waste Management Authority (ESWAMA) says it has commenced the issuance of court summons to defaulters of the 2023, 2024, and 2025 waste management fees.
Gov Peter Ndubuisi Mbah of Enugu State
The agency also said the court summon applied to all property owners and occupants in Enugu State.
Mr. Joshua Ozioko, the ESWAMA’s Head of Public Relations, stated this in a statement on Sunday, July 27, 2025, in Enugu, the state capital.
He said that ESWAMA had already begun the exercise and warned residents to take immediate action to avoid court appearances.
“Once a court summons is pasted on your property, you are required to appear before the Environmental Protection Court sitting at the New Magistrate Court Complex, State Secretariat, Enugu, on the assigned date.”
“Failure to appear before the court is an offence punishable by imprisonment or fine, and enforcement will follow,” he said.
Speaking further on the agency’s renewed efforts to maintain a clean Enugu, Ozioko said ESWAMA remained dedicated to ensuring that streets and communities stayed clean under hygienic environment.
This, he added, was in line with the agency’s mission of enhancing public health and environmental sustainability.
Many residents of the Federal Capital Territory (FCT), Abuja, have raised the alarm over the relentless increase in house rents across the territory.
Nyesom Wike, Minister of the Federal Capital Territory of Nigeria
A cross section of the residents said the excessively high rent in the territory and its districts is pushing them to brink of displacement.
They said the unaffordable housing costs is forcing them to move out of their homes and neighbourhoods, often to areas with fewer resources, infrastructure and vulnerable to violent attacks.
They appealed to the Minister of the FCT, Nyesom Wike, and the Federal Government to urgently step in and regulate the housing market in the territory.
The growing concern arose, as landlords, aided by “shylock” estate agents in several districts of the territory continue to hike rents, agent agreement and caution fees, arbitrarily.
According to Mr. Moses Danjuma, a civil servant, the low and middle-income earners in the FCT are finding affordable housing very challenging due to high rental cost with arbitrary fees, especially in areas, hitherto known to be budget friendly.
Danjuma said that the situation is fast becoming unsustainable, particularly in areas like Kubwa, Lugbe, Gwarimpa, and Lokogoma and many more, where most middle class reside.
“I was living in Lokogoma before, where rent for a two-bedroom flat was between N1 million to N1.2 million, suddenly my landlord increased my annual rent to N2 million.
“Where am I supposed to get that kind of money, when minimum wage is just N70,000?
“I had to move to Zuba where I paid N700,000 for a two-bedroom flat, but the challenge, however, is the longer period and higher cost I spend going to work daily.
The distance between Lokogoma and Abuja city centre is about 10km while the distance from Zuba to the city centre is about 36km.
“If I drive my car, a Toyota Camry, to work, I spend an average of N10,000 for fuelling to and fro, daily. On days I don’t drive, I spend up to N4000 on public transportation .
“This is overwhelming because the farther you go to get a cheaper house, the more expensive your transportation becomes; so I don’t know which is better.”
Danjuma, therefore, appealed to the Federal Government and Mr Wike to intervene and regulate rents in FCT.
Mr. Auwal Idris, another civil servant living in Kubwa, said: “My landlord just increased my annual rent in a one-bedroom apartment I occupied, from ₦500,000 to ₦700,000, without any justification.
“This is an apartment I have lived for two years. Salaries are not increasing, yet rent keeps going up. How are we supposed to survive?”
Idris said that when he tried to look for another apartment, he was shocked by the amount of the rents and the conditions attached.
“In the course of my search, I discovered that a self-contained flat in Kubwa now, cost between N600,000 to N800,000, a one-bedroom flat is between N1 million to N1.2 million while a two-bedroom is between N1.5 million to N2 million.
“Before you can secure any of these, you will pay additional mandatory 20 per cent agent/agreement fee and 10 per cent caution fee,” he said.
To rent an apartment in the FCT, besides the actual rent, agent fee is paid to the real estate agent who facilitates the rental process while the agreement fee is for drafting, reviewing, or processing the tenancy agreement.
The caution fee, also known as a security deposit, is a refundable amount held by the landlord to cover potential damages or unpaid bills
Idris said, considering the frustrating development, he had no choice but to quickly renew his rent with the increased amount before the landlord would issue him a quit notice.
More pathetic is the story of Mr. Akanni Ogundipe, another civil servant who said his landlord, in a two-bedroom apartment he lived in Kubwa, notified him of 30 per cent increase in his house rent.
He said his wife encouraged him, that, rather than paying the increased rent of N1.5 million, they should use the money, to complete their house project in Kaginni, a developing community close to Kubwa.
“In addition to my savings for the annual rent, I took N2 million loan from the cooperative society in my office and used it for the housing project.
“Though, not fully completed, I made the house habitable, and I moved in with my family happily, at least, we got a reprieve from landlord “palaver”.
Ogundipe said their joy was, however, shortlived, because within six months they moved into the new house in Kaginni, they were attacked, twice by armed robbers.
He said during the attacks, the armed robbers made away with their phones, money and other valuables.
He added that the robbers carted away their household equipment, and wounded his first son who was recalcitrant during the second operation.
Ogundigbe further narrated the ordeal of his friend, he simply identified as Michael, who equally moved to his new house, under the same circumstances as his.
According to him, Michael hurriedly completed his house in Chikakore, another community in Kubwa, to escape the onslaught of Shylock landlord and agent, and moved in with his family members.
He said less than a year in the new house located at a remote site, they were attacked by bandits who kidnapped Michael and his wife.
“When the kidnappers demanded ransom for their release, we rallied round and paid N20 million.
“Unfortunately, after spending over a month in captivity, it was only Michael that returned alive, his wife was killed by their abductors,” he narrated.
Ogundipe said, both of them had abandoned their houses and moved to respective smaller rented apartments in Gwarimpa.
The civil servant appealed to the FCT authority to promptly address the challenges of high rental costs, limited availability of suitable options and insecurity, resulting in displacement of residents.
Mrs. Aniete Umanah, a teacher in Gwarinpa, lamented: “People are being evicted because they can’t afford the unreasonably inflated rents.
“This is not just a housing issue, it is a humanitarian crisis waiting to happen in the FCT.
“House owners who have built their houses long ago, are giving excuses of present high cost of land and building materials to increase rents as if they just built a new house.
“This is not fair and the government needs to intervene,” she said.
Many residents called for legislation or housing policy to cap rent increments and address housing deficit in the FCT.
They called on the FCT minister to rescind his earlier pronouncement that he could not regulate tenancy in the territory because “it is market driven’”.
The residents said they believed that government’s intervention is the only way to restore balance and protect vulnerable tenants.
They frowned at the situation, where there is no department or a unit in the FCTA designated for housing and tenancy regulation in the territory.
Specifically, they called on the FCT authority and the elected representatives in the National Assembly to take cue from the Lagos State Government which has gone far in passing a Bill for a Law to regulate tenancy in the state.
The Lagos State Tenancy Bill, which has passed second reading before the State House of Assembly, is aimed at redefining the legal framework for tenancy agreements, rights, responsibilities, and eviction processes in Lagos State.
If passed, the law will ensure that landlords, tenants, and agents fully understand their rights and responsibilities
House owners, on the other hand, attributed the rent surge to a combination of inflation, inadequate housing supply, and high demand.
Mr. Moshood Aremu, a landlord, explained that, although, he built his house long ago but the low rent he was collecting could not meet his needs.
“Things are high in the market and I have no other sources of income, so I have to use what I have to make ends meet,” he said.
Mrs. Edna Yakubu, a landlady, in Dutse Alhaji, said that estate agents, sometime were to blame for the hike in house rent, as well as the desperation of some people to live in certain areas.
“These people succeeded in defining high brow areas and attaching some kind of price tags to houses in those areas.
“Sometimes too, estate agents do some sort of manipulations to make extra money off both house owner and tenant
“My two-bedroom flat was going for N800,000, but for two years the agent was collecting N1 million and keeping the extra N200,000 for himself.
“He felt the house should be higher than N800,000, and the tenant was paying, before I discovered,” Mrs. Yakubu said
On the other hand, some house agents said it was not their fault that house rents are expensive.
Mr. Abdullahi Gambo, an agent in Gwarinpa, said that most landlords don’t compensate them when they introduce tenants to occupy their vacant apartments
He said the 20 per cent fee for agreement and legal fees was devised in order to get paid for their services, before the tenant could move into the house.
Gambo justified that the fee was increased from 10 per cent to 20 per cent because of the nation’s economic reality, characterised by persistent challenges, headline inflation and for them to make ends meet.
The justification by the landlord, agent and tenant, as stated above, is better captured by a Yoruba proverb which says, “Oyin se, Agbon se, oju oloko si ree, gbudugbudu lo wu”
Literally, it means, “The bee denied, the wasp denied, yet the farmer’s face is badly swollen with stings”.
The proverb is used to express dissatisfaction with the fact that there is a crime committed, and no one seems to take responsibility.
The exploitation of tenants by landlords and agents with its attendant consequences is no less crime to be redress by binding regulations.
It is a generally accepted concept that, “where there is no law, there is no transgression” meaning, without a specific law or rule, there can be no violation or breaking of that law.
Therefore, for the common good, and to address these anomalies in the sector, the FCT minister should rescind his earlier pronouncement on tenancy regulation.
The minister should consider the clamour by residents on the urgent need to cap rent increments, address housing deficit and regulate the relationship between landlords, estate agents and tenants in the FCT.
