The Ibadan Electricity Distribution Company (IBEDC) on Wednesday, February 12, 2025, resumed the supply of electricity to the University College Hospital (UCH) in Ibadan after more than 100 days of disconnection.
University College Hospital, Ibadan
Chairman of UCH Joint Health Sector Unions (JOHESU), Mr. Oladayo Olabampe, made the disclosure in Ibadan, Oyo State.
IBEDC had disconnected UCH on Oct. 26 over accumulated debts, leading to series of events which included students at the College embarking on peaceful protests.
The Minister of Power, Chief Adebayo Adelabu, and the IBEDC management had a meeting at the UCH on Monday on the power restoration.
After the meeting, it was resolved that IBEDC should reconnect the hospital within 24 and not later than 48 hours counting from that Monday.
Olabampe said power was restored to the hospital at about 6 p.m. on Wednesday.
He, however, stated that only the service area was reconnected, with the residential area still in total darkness as at then.
“Even though the residential areas use prepaid meters, yet they were disconnected.
“While we agree that the service areas are important, the people rendering the service are equally important.
“The residential areas and commercial areas including banks and schools are disconnected. We have been in darkness for months now, so we feel bad about this,” Olabampe said.
The UCH Spokesperson, Mrs. Funmi Adetuyibi, also confirmed that light has been restored at the clinical area of the hospital.
Part of the conditions given by Adelabu at the meeting on power restoration was that residential areas, commercial areas and College of Medicine could be disconnected.
Adelabu said these areas contributed mostly to the high cost of energy used at the hospital.
The Nigeria Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has sealed two filling stations and a gas plant in Sagamu, Ogun State, over alleged infractions.
Members of the NMDPRA surveillance team sealing a gas plant in Sagamu, Ogun State, on Wednesday
NMDPRA Coordinator in Ogun and Surveillance team lead, Mr. Akinyemi Atilola, who coordinated the exercise on Wednesday, February 12, 2025, said that the action was in order to safeguard the lives and properties of residents.
He noted that the monitoring and surveillance action would also curb the excesses of petroleum marketers and continued extortion of unsuspecting customers.
Atilola said that the filling stations were sealed for under-dispensing while the gas outlet was sealed for operating without approval.
Atilola noted that while government preaches domestic gas utilisation for Nigerians, it was important to ensure rules and regulations were followed to prevent potential risks associated with its usage.
He said that his office received a letter from the community where the illegal gas plant was situated and upon visiting the site, they found out it did not have the approval to construct.
The NMDPRA coordinator said that no reasonable government agency would give such a place an approval.
According to him, the site is situated within a densely populated residential area.
“And we are again today to sound a note of warning that NMDPRA will not fold its hands while some people think that they can engage in gas plant construction without recourse and respect to the safety rules for the people around.
“We are out here on surveillance. We also need to know the quantity of fuel that is being dispensed to the masses, to know that they have value for their money.
“You can’t spend money on buying fuel at N959, N980 and still be having shortages; that isn’t good for our economy.
“So many of these stations will be monitored and we will definitely go after whoever is committing any infractions, malpractice in terms of quality, and quantity.
“We will also look at the safety of the stations,” the official said.
He advised petroleum and gas marketers to priortise the issue of safety and conduct their businesses with utmost sense of duty to ensure the safety of all.
Atilola also urged the public to register complaints of filling stations or gas outlets suspected of flouting regulations at its office.
The Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Felix Omatsola Ogbe, has charged sub-Saharan African nations to keep pace with unfolding trends in the global oil and gas industry and adopt a unified approach in strengthening local content development, advancing industrialisation and fostering sustainable continent-wide economic growth.
Dignitaries at the official opening of the 9th Sub-Saharan Africa International Petroleum Exhibition and Conference (SAIPEC) in Lagos
In a Keynote Address at the 9th Sub-Saharan African International Petroleum Exhibition and Conference (SAIPEC), in Lagos, on Tuesday, February 11, 2025, Ogbe said nations like Nigeria, Angola, and Ghana have made notable strides in local content development by boosting indigenous participation in the oil and gas sector, but expressed regret that “fragmented implementation continues to hinder collective progress.”
He called for a collaborative strategy among petroleum-producing nations in sub-Saharan Africa that would foster the sharing of best practices and enhance cross-border partnerships that could drive the competiveness of indigenous players.
In his paper entitled “Sub-Saharan Africa Local Content Collaboration Strategy,” Ogbe identified harmonisation of local content policies, human capital development, investment in infrastructure, funding for local companies and technology transfer, as key pillars to Africa’s collaboration strategy.
He noted that “there is a need to develop a robust local content framework that positions the region for long-term economic prosperity,” and that this could be fostered “through the collaborative efforts of APPO [African Petroleum Producers Organisation] and the United Nations Economic Commission for Africa and the African Union.”
Ogbe also highlighted the importance of the African Continental Free Trade Agreement (AfCFTA) as a critical legal framework that could be leveraged to achieve collaborative local content strategy in Africa, given the free trade area it has created by integrating 1.3 billion people across 54 African countries with a combined gross domestic product of over $3 trillion.
On human capital development, which he described as “pivotal to the successful implementation of local content,” he observed that approximately 60% of Africa’s population is currently under the age of 25, and that this teeming population provides a unique opportunity to fast-track development.
“A large, young workforce,” he noted, “can drive expansion through increased productivity and expansion.”
The NCDMB boss dwelt at length on how investment in infrastructure could catalyse regional economic growth, citing the 650,000-barrel-per-day Dangote Integrated Refinery and Petrochemical Company, which he noted would afford Nigeria and other African countries partnership opportunities for sourcing petroleum products and fertiliser.
Similar projects capable of leveraging collaborations include Kenya’s Konza Technology City, Grand Ethiopian Dam, Lekki Free Trade Zone (Lagos), and facilities like the SHI-MCI FPSO Fabrication/Integration Yard in Lagos. Others highlighted by the Executive Secretary were NCDMB’s Nigerian Oil and Gas Parks Scheme (NOGAPS) being developed in seven locations in Nigeria, to which he invited interested businessmen and investors seeking to manufacture industry-related equipment, components and spares to apply.
Speaking on funding, Ogbe said: “A regional fund or financial framework that provides credit facilities, guarantees, and investment incentives would strengthen indigenous firms,” noting with satisfaction that an African Energy Bank, established by APPO with the support of the NCDMB, which has taken equity investment in it, is soon to be operational.
In regard to technology transfer and innovation, he pointed out that “encouraging joint ventures, research collaborations, and technology-sharing agreements among African nations will drive the adoption of cutting-edge solutions and indigenous technological advancements in the African economy.”
The overall strategy discussed by Ogbe envisages roles for the academia and research institutions, which must collaborate on industry-driven research, innovations, and skills development. In his words, “By working together, we can create a formidable and self-reliant petroleum sector that delivers long-term benefits for our economies, businesses, and people.”
Earlier on Monday, in a Pre-Event Session, the Director, Monitoring and Evaluation of the NCDMB, Mr. Abdulmalik Halilu, delivered a paper on “Optimisation of Developed Capacities and Capabilities in Africa for the Growth of African Oil and Gas Industry.”
In the presentation, with illustration from Africa’s Hydrocarbon Map, he discussed Local Content Value Proposition for Africa, Concepts, and Way Forward. Under Local Content Value Proposition, he highlighted research and technology development, local employment, strategic partnerships, ownership and control of assets, while Supply Chain Optimisation threw light on sustainable operations, increased production and utilisation of locally made goods, and contribution to GDP.
Under Way Forward for Sector-Specific Industrialisation, Mr. Halilu charged petroleum-producing countries to “identify and develop niche industries, promote specialization and value addition, establish export-oriented economic zones.” For trade and regional integration under AfCFTA, his suggestion was, “Harmonise trade policies and regulations, develop efficient transport and logistics networks, export expansion grant to companies promoting intra-Africa trade.”
Beavers can play a role in tackling flooding, a new assessment from the Environment Agency on how nature can help address floods has said.
Beavers
The updated directory summarises the latest evidence for the flood and coastal erosion benefits of 17 natural measures from river restoration to woodlands in catchments and along water courses.
It can also manage saltmarshes and sand dunes.
The Environment Agency said it was “mainstreaming’’ the use of natural flood management alongside the use of traditional engineered defences, with £25 million ($31 million) programme.
It said this is part of the £2.65 billion two-year flood defences package recently announced by the UK government.
The directory would help inform investment decisions and support the selection of measures on the ground, the agency said.
For the first time, the directory draws on research, including more than 700 scientific papers.
It included an assessment of the role beavers, oyster reefs, and underwater seagrass and kelp can play in protecting against floods and coastal erosion.
It finds the presence of beavers, which engineer the ecosystem by building dams and channels which can reduce peak flows.
It also reduces the speed of water flows, increases groundwater storage, traps sediment, connects up floodplains, as well as supports other wildlife and stores carbon.
But it said more evidence was needed, particularly from the UK, in a range of areas such as the number and location of dams in catchments.
Catchments that were needed to have significant flood reduction benefits downstream, and understanding the most effective management and maintenance techniques.
Beavers were hunted to extinction in Britain around 400 years ago, but have made their way back to England’s rivers, through escapes from enclosures and illegal releases, and were given legal protection in 2022.
But conservationists are keen to re-introduce beavers, to create wetlands and river systems that boost an array of other wildlife and militate against drought and floods.
They were still waiting on a government decision about licensing wild releases of the semi-aquatic mammals.
The directory from the Environment Agency also highlighted the use of schemes such as tree planting, showing the value of woodlands across a water catchment.
It reduces the flood risk as well as provides benefits for soil, wildlife and water quality.
Catchment woodlands can reduce the height of flood water, particularly during smaller events with one study in Cumbria suggesting the flow of water was slowed by 14 per cent to 50 per cent compared to pastureland.
The directory highlighted how restoring saltmarsh and mudflats protects coastal areas from storms but also has wider benefits, such as storing carbon and filtering sediments and nutrients.
A managed realignment scheme, where old sea walls were breached to enable the creation of 250 hectares of saltmarsh at Steart Marshes in Somerset, is storing 36.6 tonnes of carbon per hectare.
A recent study found, which compares favourably to woodland.
The directory points to research gaps, for example, the best depth of a reef to help oysters grow at the same time as reducing wave energy, and the best methods for developing such reefs.
Julie Foley, Environment Agency director of flood risk strategy and national adaptation, said.
“With climate change increasing the threats of flooding and coastal erosion, we must work together with nature to boost resilience across the country.
“That’s why the Environment Agency is mainstreaming the use of natural flood management alongside the use of traditional engineered defences.’’
She said the £25 million natural flood management programme was shaped by the “working with natural processes evidence directory.’’
She said the fund was testing approaches to future investment and the delivery of natural flood management.
Kathryn Brown, The Wildlife Trusts director of climate change and evidence, said: “Getting the best evidence to support our collective efforts to build resilience is critically important.
“I’m delighted to see the latest science on natural flood management coming together in one place through the Environment Agency’s evidence directory.
“With a focus on co-benefits and to see new recognition of the role beavers can play in natural flood management.’’
The European Union (EU) and Germany on Tuesday, February 11, 2025, launched an initiative as part of efforts to address Nigeria’s electricity access challenges, particularly in rural areas.
Inga Stefanowicz, Head of Section, Economic Cooperation and Energy at the EU Delegation to Nigeria and ECOWAS
Ms. Inga Stefanowicz, Team Leader for Green and Digital Economy, EU Delegation to Nigeria and ECOWAS, while speaking at the launch of the Nigeria Country Window initiative in Lagos, emphasised its importance.
The initiative is organised by GET.invest Nigeria.
“The EU remains committed to supporting Nigeria’s energy transition and sustainable growth.
“Reliable electricity is crucial for economic development, and unlocking finance for renewable energy solutions is vital to closing Nigeria’s energy access gap.
“Through GET.invest Nigeria, we aim to facilitate access to finance for renewable energy projects that will benefit businesses and communities across the country,” she said.
The initiative aims to accelerate investments in renewable energy solutions by unlocking finance for sustainable energy projects and businesses, specifically tailored to the Nigerian context.
It is being implemented by the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ).
The initiative will closely cooperate with other donor-funded initiatives in Nigeria, particularly the Nigerian Energy Support Programme (NESP), which has been co-funded by the EU and the German Federal Ministry for Economic Cooperation and Development (BMZ) since 2013.
Mr Mamman Mahmuda, Permanent Secretary of the Federal Ministry of Power, said that Nigeria remained committed to a brighter and more sustainable future.
The permanent secretary, represented by an Assistant Director in the ministry, Mr Temitope Dina, said that such commitment signals the arrival of GET.invest Nigeria at a critical time in the nation’s journey toward achieving sustainable development.
He said: “With the right investments, policies and technologies, we can create a cleaner, greener and more resilient energy system.
“This transformation is not just a goal; it is a necessity for ensuring energy access for all Nigerians, reducing our dependence on fossil fuels, and enhancing our environmental stewardship.”
The Speaker of the House of Representatives, Tajudeen Abbas, called on investors to see the launch as an opportunity to invest wisely and strategically.
According to him, this is because the return on investment promises to be very high.
He added that “GET.invest Nigeria is our answer to some of the country’s challenges. It is also part of our commitment to innovation, sustainability, and resilience.”
In his remarks, Consul General at the German Consulate General in Lagos, Weert Börner, highlighted Germany’s commitment.
“Germany is proud to co-fund GET.invest Nigeria as part of our broader partnership with Nigeria in fostering sustainable economic development.
“By supporting private sector investment in renewable energy, we aim to strengthen Nigeria’s clean energy ecosystem and contribute to long-term economic growth.
“We look forward to seeing this initiative help unlock new opportunities for businesses and communities alike,” he said.
Meanwhile, GET.invest Nigeria Coordinator, Mr Lawrence Efanga Edeke, while underscoring the role of the New Country Window in driving energy investment, said, “GET.invest Nigeria is not a silver bullet but an essential part of scaling up investments in the renewable energy sector.
“By working closely with project developers, financiers and policymakers, we aim to mobilise the level of investment required to meet Nigeria’s ambitious energy and climate commitments, ultimately fostering a sustainable and inclusive energy transition.”
Through the initiative, GET.invest Nigeria will also provide market intelligence, industry mobilisation and capacity development support to local stakeholders, equipping them with the tools needed to expand clean energy solutions across the country.
Also, the initiative is set to accelerate investments that will enhance energy security, drive economic growth and improve the quality of life for millions of Nigerians.
Together with its donors, the European Union, Germany, Norway, the Netherlands, Sweden and Austria, GET.invest has established a series of country windows that allow the programme to focus on selected national sustainable energy markets.
The Director General/CEO of the National Biosafety Management Agency, Dr Agnes Yemisi Asagbra, has reaffirmed the agency’s commitment to ensuring the safety of genetically modified (GM) crops in Nigeria through a comprehensive Post-Release Monitoring (PRM) framework.
Director General/CEO of the National Biosafety Management Agency, Dr Agnes Yemisi Asagbra
This commitment was emphasised during a stakeholder meeting held on Wednesday, February 12, 2025, to discuss the Standard Operating Procedures (SOPs) for PRM of GM crops, particularly TELA Maize.
Dr Asagbra highlighted the agency’s regulatory responsibilities, emphasising the importance of monitoring GM crops post-commercialisation,” she stated.
“With every innovation comes responsible regulation. We must ensure that these crops, now planted by farmers nationwide, yield the intended results while maintaining safety for human health, biodiversity, and the environment. Post-release monitoring is not just a regulatory requirement but a scientific and ethical obligation,” Asagbra added.
Speaking at the event, Mrs. Hauwa Tahir, Acting Director of Biosafety Enforcement and Operations, outlined the objectives of the meeting, stating: “The agency seeks to understand the experiences of farmers, assess the performance of GM crops, and identify any challenges post-commercialization. This process is critical in ensuring the long-term safety and effectiveness of GM technology in our agricultural sector.”
The meeting was aimed at providing a platform for stakeholders, experts, and industry representatives to discuss the draft SOPs and propose enhancements to strengthen the PRM framework. The agency reaffirmed its open-door policy, encouraging collaboration and input from all stakeholders to ensure a robust monitoring system.
The meeting also acknowledged the efforts of key stakeholders, including regulatory officials, researchers and experts in shaping.
UN Emergency Relief Coordinator, Tom Fletcher, has released $5 million from the Central Emergency Fund (CERF) for anticipatory action for floods in Nigeria.
Mohamed Malick Fall, the UN Resident and Humanitarian Coordinator in Nigeria
This was announced by the UN’s Humanitarian Coordinator in Nigeria, Mohamed Malick Fall, who highlighted the need to act ahead of predictable shocks based on strong risk analysis.
“Anticipating and acting ahead of crises such as floods saves lives. It also helps to protect peoples’ livelihoods which in turn reduces their vulnerability,” said Mr. Fall.
“In a global landscape characterised by reducing funds for humanitarian action, this proactive approach is critical as it does not only reduce the worst impacts of emergencies, but it also helps to reduce the overall cost of the humanitarian response.”
The $5 million CERF allocation complements Government-led efforts through the anticipatory action taskforce. The taskforce brings together key agencies including the Nigerian Meteorological Agency (NiMet), the Nigeria Hydrological Services Agency, and the National Emergency Management Agency under the stewardship of the Office of the Vice-President. This is in collaboration with the UN Office for the Coordination of Humanitarian Affairs (OCHA).
Globally OCHA, which manages the CERF and Country-Based Pooled Funds (CBPFs) such as the Nigerian Humanitarian Fund (NHF), is spearheading anticipatory action assisting millions of people by addressing hazards such as floods, droughts, storms and cholera.
In October 2024, CERF released $5 million to scale up the flood response and address critical needs in Borno and Bauchi states in north-east Nigeria, and Sokoto State in the north-west. The CERF funds complemented a $6 million allocation from the NHF (which included $2 million for anticipatory action released in tandem with the large-scale floods which displaced an estimated 400,000 people in Borno State. The floods decimated livelihoods and destroyed hundreds of thousands of hectares of cropland ahead of harvests).
According to NiMet’s 2025 Seasonal Climate Prediction forecast, the onset of the rainy season over northern states such as Bauchi, Borno, Jigawa, Kano, Katsina, Sokoto, Yobe and Zamfara, is anticipated between early June and July 2025. This period coincides with the lean season (the period between harvests) when food insecurity and malnutrition levels rise alongside flooding and outbreaks of diseases such as cholera. Timely preparedness against these potential hazards is critical.
Nigeria’s 2025 Humanitarian Needs and Response Plan (HNRP) has outlined a risk-informed proactive approach dedicating 5 per cent ($45 million) of total requirements ($910 million) for anticipatory action. This CERF allocation represents only 11 per cent of the requirement for anticipatory action. More funding is urgently needed to scale up early action.
The Lagos Waste Management Authority (LAWMA) says it has ramped up its night surveillance operations to fish out persons involved in illegal waste dumping.
Managing Director/CEO of LAWMA, Dr. Muyiwa Gbadegesin
The authority said that it was leaving no hiding place for persons hiding under the cover of darkness, to dispose of their waste at illegal locations.
This is contained in a statement signed by Mrs. Folashade Kadiri, Director, Public Affairs, and made available to newsmen on Wednesday, February 12, 2025, in Lagos.
The statement said that the agency also reiterated its commitment to enforcing environmental laws, ensuring that offenders were identified and prosecuted accordingly.
The statement quoted the Managing Director/CEO of LAWMA, Dr. Muyiwa Gbadegesin, as saying that the agency’s surveillance and enforcement teams were operating round the clock to track and apprehend individuals who defy waste management regulations.
Gbadegesin noted that the heightened night monitoring was yielding results, adding that multiple arrests had been made in recent days.
“On Feb. 7, 2025, at approximately 9:20 p.m., LAWMA’s enforcement team caught an individual, unlawfully dumping refuse at the road median along Egbeda-Akowonjo Road, near Micom Bus Stop.
“Upon interrogation, the suspect falsely claimed to be a police officer.
“Further investigation at his residence confirmed the absence of a designated waste storage facility and no record of registration with an authorised Private Sector Participant (PSP) for waste disposal.
“Akinsola admitted that his landlord had instructed him to dispose of the waste at the road median. He is being prosecuted accordingly,” Gbadegesin said.
Citing another incident, Gbadegesin said that LAWMA’s Waste Infractions Surveillance and Investigation Team, responded to a complaint about illegal dumping at Abati Primary School, Shasha Road.
He said that upon arrival, the team discovered extensive waste disposal infractions and apprehended over 25 individuals.
“Among those arrested were six vehicle owners who had used their cars to transport and dispose of large volumes of waste.
”All arrested environmental violators will be prosecuted,” he said.
Gbadegesin stressed that LAWMA was not only intensifying enforcement but also expanding its public sensitisation efforts.
He said that the agency’s advocacy team was conducting door-to-door awareness campaigns, educating residents on proper waste disposal practices.
He urged residents to report challenges or dissatisfaction with waste collection services to LAWMA instead of resorting to illegal dumping, particularly at night.
He added that loose waste at illegal dumpsites indicates that many households around the area do not own waste bins.
Gbadegesin reaffirmed LAWMA’s zero-tolerance policy towards environmental infractions and emphasised that every Lagos resident had a role to play in maintaining a cleaner and healthier environment.
He encouraged residents to make use of the agency’s dedicated customer service channels, to report any issues with waste collection, stressing that indiscriminate dumping would no longer be tolerated.
“LAWMA remains steadfast in its mission to transform Lagos into a cleaner and more sustainable city, ensuring that all offenders are brought to justice.
“We want to urge all residents to comply with waste management regulations and contribute to a cleaner metropolis for all.”
Nigeria can meet oil production targets and implement ambitious development programmes from deep-water oil and gas operations if it continues with policies to encourage investments and boost output in the sector, Managing Director, Shell Nigeria Exploration and Production Company Limited (SNEPCo), Ronald Adams, has said.
L-R: Managing Director, Shell Nigeria Exploration and Production Company Limited (SNEPCo), Ron Adams; Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri ; Executive Secretary, Nigeria Content Development and Monitoring Board, Felix Omatsola Ogbe; and Chairman, Petroleum Technology Association of Nigeria (PETAN), Wole Ogunsanya at the 9th Sub-Saharan Africa International Petroleum Exhibition and Conference (SAIPEC) in Lagos …on Tuesday
“Deep water is a compelling consideration for Nigeria if the country must meet its oil production targets and implement ambitious development programmes,” Adams said while speaking at the 9th Sub-Saharan Africa International Petroleum Exhibition and Conference (SAIPEC) which began in Lagos on Tuesday, February 11, 2025.
According to Adams, Nigeria’s deep-water fields are home to some of the world’s most promising associated and non-associated gas reserves, with vast untapped potential that could play a vital role in powering Nigeria’s future, supporting cleaner energy and contributing to global emissions reduction.
“This will require a favourable investment climate to attract capital and innovation to develop these gas resources responsibly and sustainably, ensuring long-term benefits for the country in meeting its energy and global sustainability goals,” he said.
Adams welcomed reforms by government to attract investments especially the signing of three executive orders in February last year on tax incentives, local content compliance requirements and reduction of petroleum sector contracting costs and timelines. Tax credits were also announced for new investments in deep-water oil and gas.
The reforms, he noted, should be part of a renewed strategy to attract investments “through fiscal and regulatory policies that are fit-for-purpose, forward-looking and competitive.
He said that, for Nigeria to consistently reap the benefits from deep-water operations, it must address regulatory bottlenecks through streamlined and faster approval processes and consistent and fair policy enforcement.
Adams, who spoke on Shell’s vision for unlocking Nigeria’s deep-water potential, assured that the company would continue to leverage its expertise since it pioneered production at the Bonga field in 2005 which achieved 1 billion barrels export milestone in 2023. Further developments include the FID on the $5 billion Bonga North deep-water project announced last year.
He said SNEPCo’s deep-water achievements have resulted in the payment of taxes and royalties to government, development of indigenous businesses through contract awards and implementation of social investments across the six geopolitical zones in Nigeria.
Adams added: “Shell has powered progress in Nigeria and our vision is to build on our support and help the country to achieve energy security and economic development. We will do this by continuing to take innovative approaches to deep-water development, reducing costs and ensuring better and quicker returns for all stakeholders.”
In a related development, Dangote Petroleum Refinery & Petrochemicals has reduced the cost of its diesel product to N1,020 per litre, down from N1,075 per litre at the gantry price, in an effort to better serve its customers and Nigerians in general.
Since it began diesel production in January 2024, the refinery has reduced the price of diesel more than three times, from an initial N1,700 per litre to the current rate, thus providing much-needed relief to manufacturers and consumers alike.
The latest reduction of N55 per litre for diesel follows the revelation by Development Economist and Public Policy Analyst, Prof. Ken Ife, that the Dangote Petroleum Refinery sacrificed over N10 billion to ensure the availability of petrol at a uniform price across the country during the yuletide period. He also praised the refinery for setting a new benchmark in Nigeria’s energy sector by unlocking vast opportunities for export revenue.
Speaking on the transformative impact of the refinery on Arise TV, Prof. Ife explained that for years, the equalisation fund had been responsible for managing the price differentials and transportation costs involved in distributing petroleum across the country. However, it has been reported that the fund owes marketers over N80 billion, according to the development analyst.
“What has actually happened is that the president has shifted the subsidy burden away from the public purse and onto the private sector. The equalisation fund, which was meant to cover the price differential and transportation costs, plays a crucial role. If petroleum is to be sold across the country at a set price, then transportation costs must be accounted for to ensure this is possible. That’s the purpose of equalisation. However, the equalisation fund is reported to owe around N80 billion to the marketers, and this issue is still under discussion.
“During the Christmas season, which is traditionally the most challenging period, we often face shortages of petroleum, petrol hoarding, and arbitrary price hikes, all of which impact the cost of food. In response, during this last yuletide, the Dangote Group made the decision to absorb the costs. They equalised the price themselves, at a cost of over N10 billion. In doing so, they effectively absorbed the subsidy,” he said.
Prof Ife also said the facility is steering Nigeria away from its traditional focus on Premium Motor Spirit (PMS) towards a diversified range of petroleum-based exports.
He added that with major international players such as BP and Saudi Aramco purchasing refined products from Nigeria, the country is swiftly becoming a key player in the global petroleum market. The analyst expressed confidence that Nigeria is on the path to self-sufficiency in petroleum products, while simultaneously positioning itself as an energy export powerhouse.
Parties are required to submit updated national climate plans or Nationally Determined Contributions (NDCs) every five years to the United Nations Framework Convention on Climate Change (UNFCCC) secretariat under the Paris Agreement. However, the majority missed Monday’s deadline, including Nigeria and key top emitters.
UN Climate Change Executive Secretary, Simon Stiell. Photo credit: UN Climate Change | Kiara Worth
All 196 Parties were required to, on Monday, February 10, 2025, submit their updated NDCs (NDCs 3.0) including targets for 2035, yet just 13 countries met this UN deadline.
The countries include Marshall Islands, Singapore, Zimbabwe, Saint Lucia, Andorra, New Zealand, United Kingdom, Switzerland, Uruguay, United States of America, Ecuador, Brazil and the United Arab Emirates.
Most of the world’s top emitters are missing, with the exception of Brazil and the UAE – two parts COP Presidencies Troika – who published their climate plans during COP29.
The USA submitted its NDC 3.0 in December 2024, prior to President Trump taking office, however, have since exited the Paris Agreement. This has also caused ripple effects as concerns grow that Argentina’s President Javier Milei wants to walk away following the country’s negotiators drop out at COP29.
While Zimbabwe is the only African country on the list, the Republic of the Marshall Islands is leading the way for small island developing states (SIDS) with a target to reduce emissions by at least 58% reduction in greenhouse gas emissions below 2010 levels by 2035. Adaptation is also a strong focus given the enormous threat climate change poses to the island state. Scaling up climate finance will be vital to enabling SIDS to meet these targets and, crucially, implement adaptation plans.
Countries must submit their plans by September at the latest to ensure they are included in the NDC Synthesis Report to be released ahead of Brazil’s COP30.
Analysis from Climate Action Tracker – an independent scientific project that tracks government climate action and measures it against the globally agreed Paris Agreement – finds that none of the updated NDCs currently submitted align with a 1.5°C trajectory.
Given their critical role for setting the global level of ambition for emissions reductions, UN Climate Change Executive Secretary Simon Stiell emphasised,“Taking a bit more time to ensure these plans are ‘first-rate’ makes sense.”
Strong NDCs give clear signals to markets and empower non-state actors – such as businesses, industry leaders, NGOs, and civil society – to actively contribute to achieving national climate commitments, transforming ambitious targets into tangible outcomes. At the same time, governments must put in place the right conditions to ensure the plans are implementable, according to observers.
Last week, Stiell provided an update on the state-of-play on global climate action, in this 10th year since the Paris Agreement at the Instituto Rio Branco in Brasília – Brazil’s diplomatic academy. He emphasised the“colossal scale of economic opportunity” the clean energy shift presents and the need to enable all nations to benefit from this potential.
The speech was delivered ahead of Monday’s deadline for countries to submit their updated NDCs under the Paris Agreement. Stiell highlighted, “These national plans are among the most important policy documents governments will produce this century.”
According to the UN Environment Programme’s (UNEP) 2024 Emissions Gap Report, failure to increase ambition in the updated Nationally Determined Contributions (NDCs) and start delivering immediately would put the world on course for a temperature increase of 2.6-3.1°C over the course of this century.
Ten years ago, 196 Parties adopted the Paris Agreement in a landmark moment for global climate action at COP21 in Paris, France.
At the heart of the agreement are the NDCs, through which each Party is required to communicate its emissions reduction targets and plans to adapt to climate change every five years from 2020 onward. These updated plans must reflect “the highest possible ambition” and are to be informed by the first Global Stocktake.
