Category: Business

  • Ladi Osadebe leads through mentorship, community

    Ladi Osadebe leads through mentorship, community

    Nigeria is a country hungry for models of responsible leadership. With its business climate where inflation bites into household incomes, youth unemployment remains stubbornly high, and start up survival rates fluctuate with every shift in policy or infrastructure breakdown, stories of entrepreneurs who look beyond profit are valuable because they remind the country that enterprise can still be a force for social transformation. 

    Ladi Teresa Osadebe, a seasoned entrepreneur and event management expert whose career spans two decades and whose influence now extends far beyond the dazzling lights of weddings and corporate gatherings is one of those whose stories offer the country the much-needed hope. Osadebe has become a mentor, community builder, and volunteer whose mission is to lift others as she climbs.

    Her journey began long before the accolades and global conferences. With a Bachelor of Technology degree in Estate Management from Abubakar Tafawa Balewa University in 2004, she entered the workforce at a time when Nigeria’s economy was navigating the early 2000s oil driven optimism. Even in those early roles at Participant Properties Limited and John Bull Amaeyevbo and Co., she developed a curiosity for systems and people. Facility management, property valuations, client relations, and operational control formed the backbone of her early career. 

    By 2007, as Facility Manager on the Brunel Engineering 105 Health Centers Project in Rivers State, she was supervising utilities, maintenance, compliance, and budgets across a major public sector initiative. It was a role that taught her structure, resilience, and problem solving in real time.

    Those years laid the foundation for the entrepreneur she would become. In 2011 she founded Red Bubbles Events Limited, alongside K2 Sparkles Enterprises and later Bolifish Enterprise. She stepped into the challenging world of event management just as the sector was emerging as a major employer of women and young freelancers in Nigeria.

     The events industry contributes significantly to the creative economy and depends on rigorous planning, logistics, customer experience design, and cross functional coordination. Osadebe excelled in these areas and soon became known not only for delivering memorable occasions but also for building strong business systems. She designed internal processes, set financial controls, trained staff, and instilled a culture of excellence that helped her companies grow despite the harsh realities of inconsistent power supply, currency volatility, and rising operating costs.

    Yet the most striking part of her story is not the commercial success. It is the intentional way she uses her business and expertise to create opportunities for others. Osadebe has made her companies both a training ground and a ladder. She has built pathways for young men and women who are seeking to gain meaningful skills, financial independence, and confidence in a country where many youths face limited institutional support. She has done this through mentorship, structured training, open door guidance, and community centered leadership.

    Her belief in mentorship is deeply personal. At a time when entrepreneurship education was not as widespread as it is today, she sought out knowledge deliberately. She attended the Fate Foundation Aspiring Entrepreneur Program in 2008, enrolled at the Pan Atlantic University for entrepreneurial management in 2013, and later participated in programs such as the Dubai Entertainment Amusement and Leisure workshops and the Mastering the Business of Your Talent program in 2018. 

    In 2020 she was selected for the prestigious Women Entrepreneur Leadership Academy at the China Europe International Business School, one of the most competitive leadership programs for women on the continent. Every exposure expanded her worldview and deepened her commitment to teaching others.

    She now pays that knowledge forward by mentoring young entrepreneurs who are navigating the hurdles she once faced. Many of her mentees are women in the creative sector who do not have access to formal training or capital. She offers guidance on business structuring, customer management, budgeting, regulatory compliance, and personal growth. 

    She helps them understand the practical realities of running a business in Nigeria, from negotiating with vendors to planning for currency fluctuations. Most importantly, she helps them build confidence. In a society where women often struggle for visibility in business leadership, Osadebe becomes not just an adviser but a symbol of what is possible.

    Her mentoring work is also a response to the social context around her. Nigeria’s youth unemployment rate has remained high for more than a decade, hovering between 20 and 40 percent depending on the year and data set. The non formal economy absorbs millions of young people who rely on skills based industries such as events, retail, and media. It is within this environment that Osadebe invests her time. 

    She trains event professionals in customer experience, planning, hospitality, and operations, teaching them the standards required to compete locally and internationally. She has spoken at several industry forums, including the International Live Events Association Lagos Chapter, where she addressed female event entrepreneurs on life, entrepreneurship, and the business of events. Through these engagements she amplifies the message that professionalism is a pathway to resilience in a volatile economy.

    Her voice has become familiar in conferences and masterclasses. She has served as a panelist at the Access Bank W Hospitality Symposium on building sustainable businesses and at Women Enterprise Day during the Global Entrepreneurship Week. She has addressed the Lekki Alumni community of the Enterprise Development Centre and contributed to discussions on personal branding for women. Her participation in the WIMBIZ Conferences from 2018 to 2023 underscores her connection to a growing network of female leaders who are shaping policy conversations around women in business.

    Osadebe’s commitment goes beyond speaking engagements. She volunteers her time for community and social impact events, often taking on roles that involve training young people on work ethics, event planning, project management, and basic entrepreneurship. She supports initiatives that bring together underserved communities, offering pro bono advice and sometimes providing logistics support. Her work with grassroots programs is rooted in the belief that empowerment must reach those who are not in formal networks. In low income neighborhoods where opportunities are scarce, a workshop on event decoration, hospitality, or vendor coordination can provide young people with skills they can immediately monetize. She has supported church events, charity programs, youth empowerment seminars, and women focused conferences, using each platform to reinforce the idea that entrepreneurship is not only a personal journey but also a civic responsibility.

    Her leadership within professional associations further shows how she blends competence with service. As a member of the International Live Events Association, Women in Management, Business and Public Service, and the Association of Professional Party Organizers and Event Managers of Nigeria, she contributes to industry wide growth. These networks connect her to global best practices and enable her to share knowledge with others in the field. Her membership in the Project Management Institute and the Institute of Facility Management Association reflects her multidisciplinary strength and her belief in continuous improvement.

    Her book, ‘The Event Entrepreneurs Handbook’, serves as a guide for emerging professionals and brings structure to an often informal industry. Her commitment to professionalizing the events sector earned her recognition from Women Entrepreneurship Day in 2023 and the African Outstanding Professionals Awards in 2024. Yet even with these recognitions, she continues to emphasize service over spectacle.

    Her approach to leadership is grounded in community values. She believes that business owners must help repair the social fabric, especially in a country where inequality widens every year. Inflation has affected the price of basic goods, and many families are cutting back on discretionary spending. The events industry, like many parts of the creative economy, has felt the pressure. In spite of these challenges, Osadebe insists that the responsibility of leaders does not diminish. Instead, she argues that it becomes more urgent. Her mentoring sessions now include conversations about financial discipline, resilience under pressure, and creative solutions for sustaining revenue during economic downturns. She teaches young professionals to think beyond the moment and build structures that will survive shocks.

    Her deliberate use of her social and professional networks to open doors for others set her apart. She connects her mentees to vendors, partners, and clients. She introduces them to training programs, fellowship opportunities, and funding platforms. She encourages them to attend fairs, exhibitions, and conferences. She tells them to show up, even when they feel unsure. For many of them, these small acts of inclusion become life changing. They find community, mentorship, and a sense of belonging in an industry that can be competitive and intimidating.

    Osadebe’s story is a reminder that entrepreneurship can be a tool for community building when leaders choose service over selfish ambition. In her world, an event is not just an occasion but an opportunity to teach standards, to build capacity, and to inspire the next generation. The young woman who once coordinated health center facilities in the Niger Delta now stands at the intersection of business and social impact, proving that growth and generosity can coexist.

    Her mission continues with renewed energy. Whether she is training a young event decorator, mentoring an aspiring entrepreneur, volunteering at a community programme or or speaking on a global platform, she carries the same message. Success means very little unless it lifts others.

  • AFDB clears Nigerian firm Sargittarius

    AFDB clears Nigerian firm Sargittarius

    The African Development Bank (AfDB) has removed Sargittarius Nigeria Limited and its affiliates from its sanction list.

    The bank had imposed penalties on several companies because of its investigation into procurement processes linked to the Urban Water Supply and Sanitation improvement Project in Oyo and Taraba States in 2014 and 2016.

    The company noted that the issues relating to the infractions in the bid submissions were related to errors in two bidding forms, while the correct originating and supporting documents were attached to the bids, each running into over 600 pages. 

    The company maintained throughout the process that the errors were inadvertent, not fraudulent, and did not confer any advantage, particularly as it did not win the bids.

    Sargittarius Nigeria Limited fully cooperated with AfDB’s Office of Integrity and Anti-Corruption during the investigation, providing all requested documentation and clarifications. 

    The errors had also been identified and corrected internally through the company’s control processes well before the commencement of the AfDB investigation.

    In line with best practices, the company has since developed and implemented an integrity compliance programme and continues to engage proactively with development partners to strengthen its governance and compliance frameworks.

    Reacting to the development, an official of Sargittarius Nigeria Limited stated that the company was pleased that this unfortunate incident was now over, and further affirms the company’s track record of integrity and ethical business practice.

    This brings closure to the matter and reinforces AfDB’s commitment to due process, as well as the importance of transparency and accountability in projects financed by development institutions.

  • Shippers Council insists on importers, traders’ engagement before hike in charges by firms

    Shippers Council insists on importers, traders’ engagement before hike in charges by firms

    The Nigerian Shippers’ Council (NSC) has reiterated its call on shipping companies operating at the nation’s seaports to engage traders and other relevant stakeholders before increasing their tariffs.

    The Executive Secretary of the Council, Dr Pius Akutah, made the call in Lagos on Wednesday, during a stakeholders’ meeting on tariff review by shipping companies, service providers, clearing agents, importers, and freight forwarders.

    Akutah, who was represented by the Director of Consumer Affairs at the NSC, Mrs Ify Okolue, said stakeholder engagement is critical to maintaining order within the port system and ensuring that Nigeria’s ports align with global best practices, while safeguarding the interests of port users and the national economy.

    Akutah explained that the Council’s mandate is to promote fairness, efficiency, and balance within the port system.

    “Our role is not only to ensure that service providers operate within an economically justifiable framework, but also to protect port users from arbitrary, unjustified, or anti-competitive charges. In carrying out this responsibility, the Council is guided by due process, transparency, stakeholder consultation, and the overriding national interest.”

    “It is important to emphasise that the mandate of the Nigerian Shippers’ Council is to promote fairness, efficiency, and balance within the port system.”

    Read Also: Shippers Council to cut 21-day dwell time at ports

    Speaking further, the Executive Secretary said the Council remains open to dialogue and is committed to ensuring equity, regulatory integrity, and the long-term sustainability of the maritime industry.

    “Regulation is most effective when it is inclusive, which is why this engagement is critical. It provides us with an opportunity to listen attentively to your perspectives, clarify the rationale behind regulatory decisions, address misconceptions where they exist, and collectively explore solutions that are fair, sustainable, and beneficial to all parties.”

    He acknowledged prevailing economic challenges but stressed the need to strike a balance between cost recovery and the protection of port users.

    “I wish to assure all stakeholders that the Shippers’ Council is not insensitive to the prevailing economic realities, including foreign exchange challenges, inflationary pressures, and the need to keep Nigerian ports competitive within the sub-region. At the same time, we must ensure that cost recovery by service providers does not translate into excessive burdens on port users or undermine national trade objectives.”

    He described the engagement as a collaborative effort aimed at strengthening Nigeria’s port system.

    “Today, we are not here as adversaries, but as partners in progress, united by a common goal, a port system that supports trade facilitation, attracts investment, and contributes meaningfully to Nigeria’s economic development. The Council remains open to dialogue and is committed to equity, regulatory integrity, and the long-term sustainability of the maritime industry,” Akutah stated.

    Stakeholders at the meeting included the Importers Association of Nigeria (IMAN), Lagos Chamber of Commerce and Industry (LCCI), Maritime and Freight Forwarders Unit, and Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA).

    Others are the Association of Nigerian Licensed Customs Agents (ANLCA); National Association of Government Approved Freight Forwarders (NAGAFF); National Council of Managing Directors of Licensed Customs Agents (NCMDLCA), and the Africa Association of Professional Freight Forwarders and Logistics (APFFLON).

  • Omoaghe lauds ‘visionary leader’ Keyamo at 56

    Omoaghe lauds ‘visionary leader’ Keyamo at 56

    An associate, Christopher Omoaghe, has congratulated Minister of Aviation and Aerospace Development, Festus Keyamo on his 56th birthday, describing him as a visionary leader and a “trendsetter par excellence.”

    In a statement in Abuja, Omoaghe, a close associate of Keyamo, lauded the Minister for what he described as his immense personal contributions toward repositioning Nigeria’s aviation sector and strengthening international partnerships. 

    He noted that the Minister’s strategic approach has already begun yielding “excellent results in the economic sphere,” ensuring that the industry remains a vital pillar of national growth.

    Reflecting on the Minister’s career trajectory—from his humble beginnings to reaching the pinnacle of the legal profession as a Senior Advocate of Nigeria Omoaghe highlighted Keyamo’s rare dedication to public service.

    “Through his activities as the head of the Ministry of Aviation and Aerospace Development, he has earned the high respect of his compatriots and enormous authority on the global stage,” Omoaghe stated. “His journey is a testament to the power of grit and professional integrity.”

    Read Also: Keyamo, ADC spokesman lock horns over zoning of presidency

    The statement further emphasized the Minister’s pivotal role within the administration of President Bola Ahmed Tinubu. Omoaghe expressed profound satisfaction with the current development of the aerospace sector, noting that Keyamo’s leadership has been instrumental in the administration’s success.

    “Keyamo is doing a tremendous job. We also thank President Bola Ahmed Tinubu for his steadfast support of the Minister, which has allowed for the seamless execution of transformative policies,” the statement continued.

    Omoaghe added: “Festus Keyamo’s strength, his determination, and his ability to lead his team are a constant source of inspiration. With deep friendship and esteem, I wish him continued health and energy to sustain these good works toward a bright and prosperous future for our nation.”

  • Segun Festus Oluwaji: Redefining agribusiness leadership and advancing Africa’s food security agenda

    Segun Festus Oluwaji: Redefining agribusiness leadership and advancing Africa’s food security agenda

    • By Femi Salako 

    Segun Festus Oluwaji’s selection as a recipient of the 2026 Face of Africa Leadership Award for Outstanding Agricultural Innovation and Food Security Advancement is a powerful affirmation of a lifetime dedicated to strategic leadership, nation-building, and the quiet but transformative work of strengthening Africa’s food systems. His journey reflects the rare convergence of deep financial intelligence, global exposure, and a deliberate commitment to using enterprise as a tool for sustainable development.

    With more than thirty-five years of experience spanning corporate finance, energy, and agribusiness, Mr. Oluwaji has built a reputation as a disciplined strategist and institution builder. His academic foundation in Chemistry from Obafemi Awolowo University provided him with a scientific appreciation of processes and systems, while his professional qualification as a Chartered Accountant and later attainment of an MBA equipped him with the analytical rigor required to navigate complex corporate environments. These competencies were refined through early professional training at Lafenwa Osiberu & Co. and further strengthened during his service in multinational firms affiliated with Asea Brown Boveri, where he functioned as Group Accountant across multiple entities. His eventual role as Finance Director at SBM Group placed him at the center of high-level corporate decision-making, overseeing financial operations, investments, and long-term growth strategies.

    It is this depth of experience that Mr. Oluwaji brought into agribusiness when he assumed the chairmanship of Courtyard Farms Limited. Rather than approach agriculture as a traditional or subsistence sector, he positioned it as a sophisticated, technology-enabled, and globally competitive industry.

    Under his leadership, Courtyard Farms has embraced modern farming techniques, efficient production planning, and strong financial governance structures that ensure sustainability and scalability. His influence has been critical in transforming agricultural operations from fragmented practices into integrated systems that prioritize efficiency, quality, and long-term value creation.

    A defining feature of Mr. Oluwaji’s contribution to agriculture is his commitment to strengthening Nigeria’s food value chain. Through Courtyard Farms Limited, he has supported the structured cultivation, processing, and export of key commodities such as cocoa beans, cashew, ginger, and other agricultural produce. 

    These efforts have not only expanded Nigeria’s presence in international markets but have also contributed to foreign exchange earnings and the broader economic diversification agenda. By improving standards, enhancing traceability, and meeting export requirements, he has helped position Nigerian produce as competitive and reliable on the global stage.

    Equally significant is his focus on empowering local farmers and rural communities. Mr. Oluwaji understands that food security cannot be achieved without inclusive participation at the grassroots. His work has emphasized improving market access for smallholder farmers, integrating them into organized supply chains, and exposing them to better farming practices and pricing structures. By bridging the gap between rural producers and structured agribusiness markets, he has helped improve livelihoods while increasing overall production efficiency.

    In an era defined by climate uncertainty, his advocacy for sustainable and climate-smart agriculture further underscores his forward-looking leadership. By promoting practices that enhance yield while preserving environmental integrity, Mr. Oluwaji has aligned agribusiness growth with ecological responsibility. This balance between productivity and sustainability continues to contribute meaningfully to Nigeria’s long-term food security and resilience against climate-related shocks.

    Beyond production and export, Mr. Oluwaji’s impact is deeply felt in human capital development. He has consistently invested in capacity building, youth employment, and technological innovation within the agricultural sector. His belief in agriculture as a platform for job creation and skills transfer has helped reposition the sector as an attractive space for young Nigerians, fostering a new generation of agripreneurs equipped with both technical knowledge and business awareness.

    His global exposure, reinforced through executive training in corporate finance, cash flow optimization, and project management across the United Kingdom, France, and Monaco, has enriched his leadership perspective. This international outlook resonates strongly with the 2026 Face of Africa Awards’ broader conversation on harnessing the Nigerian diaspora for national development through collaboration, investment, and knowledge transfer. Mr. Oluwaji exemplifies how global best practices can be adapted meaningfully to local realities, creating solutions that are both innovative and culturally grounded.

    Beyond his professional accomplishments, he is widely respected for his integrity, principled conduct, and unwavering dedication to excellence. His leadership style combines firmness with fairness, strategy with empathy, and ambition with responsibility. These qualities have earned him trust across corporate, agricultural, and community spaces, reinforcing his role not merely as a business leader, but as a steward of sustainable development.

    As Triangle International Magazine celebrates its tenth anniversary and hosts the fourth edition of the Face of Africa Awards in London, the recognition of Segun Festus Oluwaji stands as a testament to leadership that delivers tangible impact. His work through Courtyard Farms Limited continues to strengthen Nigeria’s agricultural foundations, secure food systems, empower people, and position Africa as a serious player in global agribusiness. 

    The 2026 Face of Africa Leadership Award fittingly honors a man whose vision, discipline, and commitment have helped shape a more secure and prosperous future for the continent.

  • Unity Bank upgrades Unifi mobile app to deepen reach

    Unity Bank upgrades Unifi mobile app to deepen reach

    Nigeria’s retail lender, Unity Bank Plc, has launched an upgraded version of its mobile banking platform, Unifi, as part of ongoing efforts to improve customer experience on the Bank’s digital Banking platform and reinforce its proposition in e business.

    The latest update, Unifi version 2.3, introduces a suite of improved features designed to enhance usability, security, and convenience for customers. Key upgrades include enhanced security protocols, expanded quick-action functionalities, improved bill payment options, and an updated Nigeria Quick Response (NQR) feature to support faster and more secure QR code transactions.

    A key aspect of the rollout builds on the Bank’s continued investment in digital and security infrastructure, aimed at safeguarding customer data, ensuring secure payments and enabling safe, real-time transactions across channels.

    Speaking on the upgrade, Divisional Head, Retail, SME, Digital Banking & Fintech Partnerships at Unity Bank, Adenike Abimbola, said the improvements are built on the back of continuous interrogation of the platform to be more responsive to customer feedbacks which are being received overtime in our interactions and engagements. 

    READ ALSO; Arewa, this has to stop

    “Digital banking has become an integral part of everyday life, particularly for retail customers who expect speed, dependability, convenience, and security as standard.

    With the latest upgrade to Unifi, we are responding directly to these expectations by enhancing functionality, strengthening security, and simplifying key payment and transaction journeys. Our goal is to ensure that customers can carry out their banking activities seamlessly, confidently, and without friction, anytime and anywhere,” she said.

    She added that the Bank remains committed to continuous improvement of its digital channels in line with evolving customer needs and emerging industry trends.

    “As mobile banking increasingly defines how people interact with financial services, Unifi is central to our strategy of delivering intuitive, reliable, and inclusive digital solutions. We will continue to invest in technology partnerships and platform enhancements that support financial inclusion, drive adoption, and improve overall customer experience.”

    Originally introduced as part of Unity Bank’s strategic push to expand its retail footprint, particularly among young and digitally savvy customers, Unifi has grown into a core engine of the Bank’s retail banking expansion. The platform plays a critical role in driving customer acquisition, deepening engagement, and reinforcing Unity Bank’s broader digital transformation agenda.

    The Unifi mobile app is available for download on Android and iOS devices, offering customers access to a wide range of services, including transfers, bill payments, airtime purchases, and QR-enabled transactions.

  • NIA trains underwriters on NIIRA 2025 sections

    NIA trains underwriters on NIIRA 2025 sections

    The Nigerian Insurers Association (NIA) has trained underwriters on Compulsory Container Insurance mandated in Section 203 of the NIIRA 2025.

    The Director-General of the NIA, Mrs. Bola Odukale, in an opening remark during two-day workshop emphasised the critical role of insurance in national development.

    READ ALSO; Arewa, this has to stop

    She stated that a well-regulated and legally backed insurance industry is vital to economic growth, investor confidence, and public protection.

    She urged participants to actively engage in the sessions, noting that the knowledge gained will not only strengthen professional capacity but also enhance effective implementation of compulsory insurance provisions for the overall benefit of the economy.

    No fewer than 40 underwriters of container insurance attended the workshop at the Insurers House, Victoria Island, in Lagos.

  • Lasaco Assurance sets strategic focus to strengthen competitiveness and customer experience

    Lasaco Assurance sets strategic focus to strengthen competitiveness and customer experience

    Lasaco Assurance Plc has outlined a clear strategic direction aimed at strengthening its market position, improving execution, and delivering enhanced value to customers.

    This is coming as Nigeria’s insurance industry faces rising competition, evolving customer expectations, and increasing regulatory demands, insurance companies are repositioning to remain relevant and resilient.

    The strategic direction was communicated during the company’s recent staff retreat, where management engaged employees on the organisation’s priorities for the coming years and the need to strengthen operations, innovation, and service delivery in a changing insurance environment.

    Speaking at the retreat, the Acting Managing Director, Mr. Ademoye Shobo, said, “The company’s strategic priorities for the coming years will focus on modernising operations, fast-tracking digital adoption across service delivery, and developing insurance solutions that are better aligned with the realities of today’s customers.”

    He explained that these focus areas are central to improving accessibility, strengthening performance, and positioning the company for long-term competitiveness within the insurance sector.

    READ ALSO: Tax reform: Lessons for national health financing

    Also addressing staff, the Deputy Managing Director, Mr. Rilwan Oshinusi, highlighted the importance of strong execution, collaboration, and disciplined implementation in translating strategy into measurable outcomes.

    Driven by this leadership direction, Lasaco Assurance Plc is strengthening its capacity to deliver simpler processes, more responsive service channels, and improved customer experiences, positioning the company to meet the evolving needs of policyholders in Nigeria’s insurance market.

  • Allianz $1billion fund to disburse 40% in Africa

    Allianz $1billion fund to disburse 40% in Africa

    British International Investment (BII), the UK’s impact investor and Development Finance Institution (DFI), yesterday, announced that it will be the anchor investor for the Allianz Credit Emerging Markets fund (ACE).

    The Allianz Credit Emerging Markets fund will support Paris Agreement goals with a focus on climate finance, and the investment is a key milestone in BII’s strategy to accelerate the flow of private capital for international development.

    The blended finance fund, which was launched yesterday at BII in London, brings together a number of public and private institutions. DFIs, such as BII and MDBs, will provide $150 million of concessionary capital for the junior tranche of the fund.

    BII, in a statement, after the launch, said this will significantly reduce volatility and support the return expectations for private investors that will provide up to a further $850 million if the expected final close target of $1 billion is reached.

    BII will provide $40 million of the $150 million and will be joined by Global Affairs Canada – the development agency of Canada, the Inter-American Development Bank Invest (IDB Invest), the Swedish International Development Cooperation Agency and Impact Fund Denmark (IFDK).

    READ ALSO: Tax reform: Lessons for national health financing

    Tuesday’s announcement marks the first close of the fund, which has so far secured $690 million in commitments. Allianz SE and GastroSocial Pensionskasse will be the anchor investors for the senior tranche of the fund.

    ACE is set to become one of the largest blended finance funds raised to date, signaling a renewed appetite for structures which bring together a range of investors with different return and impact expectations.

    UK Minister for International Development and Africa, Baroness Chapman, said: “BII’s participation in the ACE fund demonstrates how we are modernising our approach to international development, by working as partners and investors.

     “We are using UK government support to attract more private investment to create a bigger impact – ensuring every pound we invest generates much more funding for countries in the Global South to tackle the climate emergency.

     “This approach helps Britain too, boosting growth, bringing in investment and returns for UK taxpayers and positions us as a key hub for helping emerging economies.”

    Chief Executive of BII, Leslie Maasdorp, said: “At BII we recognise that we must use our scarce concessionary capital to unlock the vast pools of private finance that is required to meet the global challenge of the climate emergency and drive sustainable, impact-led growth in some of the least developed countries in the world. Today’s announcement is another milestone for BII in achieving that key objective.”

    BII’s investment in the ACE fund is the third to be announced through its £100 mobilisation facility, launched by UK Prime Minister, Sir Keir Starmer, in 2024.

    The first announcement was for an anchor investment in the Pentagreen Green Investment Partnership, to support green and sustainable infrastructure projects in South-East Asia.

    The second was a partnership with BlueOrchard on a ground-breaking blended finance fund designed to unlock life insurance capital for climate finance.

    Head of Private Markets, AllianzGI, Edouard Jozan, said: “Addressing climate change cannot be focused solely on investing in developed markets – launching ACE is a bold step forward in mobilising institutional capital to address global development priorities including climate.

     “This strategy is a great example of the strength and power of collaboration between the public and private sector and the significant potential for further scale in this asset class. Leveraging our longstanding partnerships with DFIs and MDBs, we aim to deliver investors with both attractive returns and measurable positive outcomes.”

    About 40 per cent of the disbursements from the ACE fund are intended to be made in Africa, a figure that is notably higher than other blended finance funds of this type.

    The remainder will be split across emerging economies in other regions. Investments will be made across a range of sectors including renewable power, clean transportation, agriculture and financial services.

    BII invests in businesses in developing countries to improve people’s lives and help protect the planet. Its work targets the underlying causes of poverty and the climate crisis, helping countries break free from aid dependency for good.

    Between 2022-2026, at least 30 per cent of BII’s total new commitments by value will be in climate finance. BII is also a founding member of the 2X Challenge which has raised over $33.6 billion to empower women’s economic development.

    On the other hand, Allianz Global Investors is a leading active asset manager with more than 700 investment professionals in over 20 offices worldwide, and managing EUR 562 billion in assets.

  • Nigeria’s crude production peaked at 554.4mb in 2025, says NUPRC

    Nigeria’s crude production peaked at 554.4mb in 2025, says NUPRC

    • 95% of OPEC quota met in December

    Nigeria produced a total of about 554.4 million barrels of crude oil and condensate in 2025 , The Nation learnt yesterday.

    This was contained in the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) document titled: “Crude oil and condensate production 2025.”

    The lowest price of the Brent Crude in 2025 was $63/b at the close of the year, while it opened with $79/b as the highest price.

    The average crude oil price in the year was $71/b.

    The document also revealed average daily crude oil and condensate produced in the year under review was 1.63mb/d.

    In December 2025, the report said Nigeria’s crude oil and condensate output was 1.54mb/d.

    This translates to  an average of 46.22 million barrels  in a month and about 554.4 million barrels in the 12 month period under review..

    NUPRC revealed that only crude oil production was 1.42mb/d, representing 95 per cent of the 1.5mb/d quota approved for the country by the Organization of the Petroleum Exporting Countries (OPEC).

    READ ALSO; Arewa, this has to stop

    According to the report, “the average crude oil production represents 95 per cent of OPEC quota of (1.5mbpd).”

    NUPRC added that in December 2025, crude oil and condensate production was 1.54mb/d.

    NUPRC said the crude oil and condensate production was as follows: January 1.73mb/d, February 1.73mb/d, March1.69mb/d, April 1.68mb/d, May1.65mb/d, June 1.69mb/d, July 1.71mb/d, August 1.63mb/d, September 1.58mb/d, October 1.59mb/d,  November 1.59mb/d, and December 1.54mb/d.

    On crude oil production, the document said the output was as follows: January 1.53mb/d, February 1.46mb/d, March 1.40mb/d, April 1.48mb/d, May 1.45mb/d, June 1.50mb/d, July 1.50mb/d, August 1.43mb/d, September 1.38mb/d, October 1.42mb/d, and November 1.43mb/d and 1.42mb/d in December.

    The period under review was an experience of opening up of shut-in oil wells and relative peaceful atmosphere in the Niger Delta region.

    There were however moments of shutdown for routine maintenance and other incidents like explosion on the Escravos Lagos Pipeline Line (ESPL) that impacted production.