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Tag: Africa

  • NGX Popoola champions Africa’s market growth at ESX launch

    NGX Popoola champions Africa’s market growth at ESX launch

    Group CEO of Nigerian Exchange Group Plc (NGX Group), Temi Popoola, reaffirmed Africa’s untapped potential in capital markets during the highly anticipated launch of the Ethiopian Securities Exchange (ESX).

    As Ethiopia marked a historic milestone with its first-ever stock exchange, Popoola underscored the significance of regional collaboration, government-private sector synergy, and innovative solutions in unlocking the continent’s economic potential. 

    Speaking at the event, Popoola highlighted NGX Group’s strategic investment in the ESX as a testament to its commitment to advancing Africa’s financial landscape.

    “The launch of ESX represents a pivotal moment for Ethiopia and the broader African financial landscape,” he declared.

    “ESX will serve as a crucial mechanism for capital formation and market liquidity, driving sustainable economic growth.” 

    Popoola emphasised Ethiopia’s vast market potential, positioning ESX as a springboard for broader regional financial integration.

    “Our partnership transcends traditional investment parameters. It is about ensuring that ESX evolves into a key player in Africa’s financial ecosystem, enabling cross-border investments and setting benchmarks for market development,” he explained.

    Drawing parallels with global success stories like India, Popoola advocated for the careful opening of markets to attract both local and continental capital. “By following this path, Ethiopia can become a financial hub in Africa,” he added. 

    Prime Minister Abiy Ahmed celebrated the event as a turning point in Ethiopia’s economic modernisation efforts.

    “Today, we have officially rung the bell to launch the Ethiopian Securities Exchange, our nation’s first stock exchange,” he shared on X.

    “This is a call to global investors: Ethiopia offers immense potential, a fast-growing economy, and a clear trajectory towards shared prosperity.” 

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    CEO of ESX, Tilahun Esmael Kassahun, echoed these sentiments, expressing optimism about the future of Ethiopia’s financial markets and NGX Group’s role in shaping them.

    “We are pleased to welcome NGX Group as a strategic partner, building upon the existing support we continue to receive from them,” Kassahun stated. 

    Leveraging over six decades of experience, NGX Group brings critical insights into diversifying financial instruments and expanding access to investment opportunities. Popoola outlined a roadmap for Ethiopia’s capital market, calling for a blend of innovation, policy reforms, and regional partnerships to propel growth. 

    Popoola concluded that with the right combination of innovation, policy support, and regional collaboration, Ethiopia’s capital market could drive economic development and emerge as a leader in Africa’s financial ecosystem.

    Industry experts emphasised that the launch of the ESX, supported by NGX Group as a strategic investor, highlights the critical role of partnerships in shaping Africa’s financial future. By harnessing shared expertise and advancing regional integration, Ethiopia is carving a path to becoming a leading force in the continent’s evolving capital markets.  

  • France, Africa and the new world

    France, Africa and the new world

    • By Zayyad I. Muhammad

    Sir: Millions of Africans have emigrated to Europe, America, and other parts of the world. This emigration is driven by both push and pull factors — economic challenges, political instability, conflicts, and the pursuit of better job opportunities and more accessible social services.

    Despite often being stringent in their immigration policies, receiving countries have found ways to benefit from this influx. They tap into the labour, expertise, and talent of these migrants. Rather than solely viewing immigration as a burden, many of these nations recognize the potential gains from incorporating skilled and unskilled labour into their economies.

    In recent years, several West African countries have reassessed and severed their military ties with France. Notable examples include Mali in 2022, Burkina Faso in January 2023, Niger Republic in 2024, Chad in November 2024, Senegal in December 2024, and Ivory Coast in December 2024. These moves signal a significant shift in regional dynamics, as these nations seek to assert greater sovereignty and explore alternative partnerships. Some have terminated defence agreements outright, while others are exploring new international collaborations.

    International relations experts see these developments as pivotal. However, they caution that without concrete plans for mutual benefits, these countries might merely replace one foreign power with another. For instance, in Niger Republic, the Russian presence, along with the mercenary group, Wagner, has not brought substantial change. Wagner’s operations in several African nations, such as Mali, have drawn criticism, with human rights groups accusing its forces of severe abuses.

    Reuters reported that: “French President Emmanuel Macron recently expressed frustration over the perceived lack of acknowledgment from certain African nations regarding France’s military interventions in the Sahel region. Speaking at a foreign policy conference with French ambassadors, Macron claimed that some African leaders had “rewritten history” concerning France’s role in combating Islamist militants since 2013. He argued that without French military support, these states might have lost their sovereignty.

    However, officials from countries like Chad and Senegal have pushed back, asserting that their decisions to expel French troops were made independently and in the best interest of their nations. Chadian Foreign Minister Abderaman Koulamallah criticized Macron’s remarks as disrespectful, while Senegalese Prime Minister Ousmane Sonko emphasized that Senegal’s decision was made without any negotiation with France”.

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    For Africa to progress, its leaders must define the continent’s needs, recognize its current position, and set a clear direction for the future. Africa must move beyond the outdated narrative that external forces are the primary obstacles to its development. The global landscape has evolved, and Africa must engage with international partners on a basis of mutual respect and benefit.

    For example, France and Nigeria have excellent trade relationship, with Nigeria serving as France’s leading trading partner in sub-Saharan Africa. So, if as particular country sees the French as a bottleneck, it would be wrong to expect Nigeria to do so.

    If countries like France, China, Russia, or the United States etc. want to invest in Africa, they must do so with clear, mutually beneficial agreements. African resources should be processed on African soil, ensuring that the continent gains more than just raw material exports. Africa needs technology transfer, expertise, and infrastructure development that can foster sustainable growth.

    Africa must adopt a global perspective and interact with nations based on their strengths in areas like United Nations status, military power, industrial capacity, the presence of African Diasporas, trade volumes, and financial influence. Only through strategic, well-negotiated partnerships can Africa harness its full potential and assert its rightful place in the global arena.

    •Zayyad I. Muhammad,

    Abuja.

  • ‘Africa may host 87% of global poorest population by 2030’

    ‘Africa may host 87% of global poorest population by 2030’

    A new World Bank report has revealed that Africa could play host to 87 percent of the world’s extremely poor population by 2030, an increase from the current 60 percent, if no significant reforms were made.

    The report stated that unequal access to jobs, finance, and public services such as education and healthcare has increased inequality, hindering poverty reduction in the region.

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    The report entitled, ‘Leveling the Playing Field: Addressing Structural Inequalities to Accelerate Poverty Reduction in Africa,’ released on yesterday, explained that structural inequalities based on birthplace, ethnicity, gender, and parental background as well as market and institutional distortions create advantages for a few and disadvantages for many.

    According to the report, this has resulted in Africa ranking as the world’s second most unequal region after Latin America, and the only continent where extreme poverty reduction has stalled in recent years.

  • BIC Master Art fêtes Africa’s Ubuntu spirit

    BIC Master Art fêtes Africa’s Ubuntu spirit

    Ubuntu is an ancient African word meaning ‘humanity to others’ which is often described as reminding us that ‘I am what I am because of who we all are’. The philosophy was reiterated at stationery brand BIC Art Master Africa Awards 2024 where Ubuntu-inspired works earned two Nigerians victory in BIC Art Master contest.

    At the finale event, Nigerian artist, Joseph Akpan was awarded the title of regional winner for his inspiring piece, themed Stronger Together; while Joshua Makinde emerged as the national winner with his artwork, Ayodeji.

    Since its launch in South Africa in 2017, Art Master Africa contest has grown into a premier platform, showcasing the power of self-expression through art, using the iconic BIC ballpoint pen. The 2024 edition, which is its sixth, was launched earlier in the year, calling on creatives to depict their interpretation of Ubuntu (or One Africa), this year’s competition’s theme, using the iconic BIC ballpoint pen. 

    Regional and national winners of the art contest were announced and celebrated at the award ceremony, held in partnership with Alliance Francaise, Lagos, which hosted numerous local artists, government stakeholders and members of the Nigerian art community.

    The General Manager, BIC Africa, Anthony Amahwe, who made the presentation to the winners, said: “Without the sense of community there is no Africa. Since its launch, Art Master Africa has expanded into a platform, welcoming artists from Africa and, more recently, the Middle East.”

    These exceptional creations, along with other finalists’ works, beautifully interpret the philosophy of Ubuntu, underscoring Africa’s interdependence and cultural resilience, according to Gregory Alibaux, Marketing Director for BIC Middle East and Africa and Art Master Africa’s custodian. He said: “We are proud of running Art Master Africa for the sixth year in a row. The competition has come a long way, starting in South Africa in 2017 and expanding into the wider region. It has brought to life phenomenal talent from across the region and is a testament to our commitment to unleashing creativity using writing tools and living up to our vision of bringing simplicity and joy to everyday life through our products. We continue to be in awe every year after seeing the submissions we receive from the region, and we are confident that we will continue to help more talent surface through this flagship competition.”

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    Commenting on this, Judge Gary Eric added, “The artworks we received are a testament to the incredible talent and creativity on the African continent. Each piece reflects the artist’s individual talents while connecting to the broader message of unity and harmony across African communities. As the judging panel, we were very impressed with this year’s submissions.”

    “Art Master Africa selected three regional winners and six national winners across the continent. Akpan, who was the regional winner received a grand cash prize of $2,000, an exclusive feature in the Art Master Africa Metaverse Gallery, and an opportunity for inclusion in BIC’s global Art Collection. The second and third-place winners were awarded $1,000 and $500 respectively. Each national winner, including Nigeria’s Makinde, received $500 in recognition of their outstanding talent and creativity.”

    The regional winner, Akpan enthused, said: “I am truly honored to be recognized as the regional winner of the Art Master Africa competition. This year’s theme, Ubuntu, holds deep meaning for me, as it speaks to the power of unity and community in Africa. My artwork, Stronger Together, reflects this idea of collective strength, and I am proud that it resonates with others. I appreciate BIC for providing a platform that not only celebrates African talent but also empowers artists like me to tell our stories to the world. This recognition fuels my passion and commitment to continue creating art that unites and inspires.”

    Also speaking at the event, national winner Makinde shared his excitement, saying: “Being part of the Art Master Africa competition has been an inspiring journey. I am honored to have my work recognised nationally and regionally, especially for a theme as meaningful as Ubuntu. This platform has given me and countless others an opportunity to express our creativity on a large scale, and I encourage fellow artists to join and share their visions with the world.”

    The event also had in attendance Guinness record breaker, Dr. Fola David, who inspired gave a motivational speech; Trade Marketing Manager BIC Nigeria, Patrick Bello and Business Development Manager BIC Nigeria, Adeyemi Ojo, among others.

    Earlier this year, BIC introduced the Art Master Africa Metaverse Gallery — a first-of-its-kind space showcasing works from past and present winners and offering a virtual experience to art enthusiasts worldwide. The works of past winners, along all who had entered for the competition were on display. One work that stood out is by 60 year cartoonist, Soji Akinbo. In Nigeria, BIC has forged meaningful partnerships with influential organizations such as Alliance Française, playing a key role in supporting the country’s thriving art community, it was said.

  • Brown’s homage to Africa’s splendour

    Brown’s homage to Africa’s splendour

    Ini Brown’s solo exhibition tagged: Africa’s Splendour, made a deserved first at the rebranded ArtLab Gallery, Adam & Eve on Isaac John Street, Ikeja Lagos.

    The exhibition, which featured 50 artworks comprising  40 water colours, 10 acrylic oil on canvas, pen drawings and miniatures is a celebration of African rich culture, aesthetics and energies. It ran from November 1 to 23.

    The opening was attended by two media moguls Chairman/CEO Channels Media Group, John Momoh, his wife Sola, Vice Chairman Channels Media Group, and Abiola Dosunmu, Erelu Kuti of Lagos among other guests. 

    Curator of the exhibition, Lekan Onabanjo said ArtLab Gallery (The Content) started out with the aim of expanding awareness and the appreciation for the art by cultivating a new genre of art collectors as well as appealing to seasoned collectors to venture out of the confines of the Victoria Island and Ikoyi Lagos.

    “At the beginning, exhibitions began with a showing of nine seasoned artists in Adam & Eve, a Homeware Store  in 2017 and culminating in the establish of the ArtLab Gallery in 2024 has been an interesting one, which I’m glad to have been a part of. The ArtLab gallery is now debuting with a solo show ‘Africas’ Splendour” headlined by prolific watercolourist, Brown I have no doubts whatsoever that art enthusiasts, collectors and the viewing public will thoroughly enjoy being immersed in the works of Brown as he showcases works never previously shown, depicting the ruh and vibrant culture of Africa,” Onabanjo said.

    To the CEO of Adam & Eve, Mrs Modupe Ogunlesi, the essence of ArtLab Gallery is to provide opportunity for artists to showcase their works, which sometimes help many to reduce their stress levels when in contact the works of art.

    “Sometimes you just feel stressed up because there’s so much stress in town. So you can come in here and feel relieved of the stress. And then maybe in the process acquire two or three pieces, and that’s it. And you can decide to begin with Brown’s works because his work is relatable. For instance, this is Africa’s splendor. Look at the woman balancing her child on her back.  Look at the swagger.  She’s carrying the bread on her head hawking yet she’s answering the phone. So in spite of a difficult terrain, you can see the happiness. And this is how some women might have educated their children through this petit trading. It’s becoming more difficult, almost impossible now. These are things that might disappear. You don’t know.

    When you go through Brown’s works, it’s like he’s inviting you to forget the stress of the job.” She noted that she likes artworks that uplift her.

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    One of Brown’s paintings, Serene Passage is a breathtaking watercolor landscape, inviting the viewer to step into its tranquil world. Tree trunks seamlessly merge with lush foliage, while vibrant yellows and greens evoke freshness and vitality. A winding pathway, carpeted with fallen leaves, beckons exploration. Brown’s masterful technique creates remarkable depth, drawing the viewer into the scene. Figures subtly integrated into the composition add a sense of community. Soft, ethereal light permeates the painting, infusing it with serenity. Serene Passage is a testament to Browns skill, transporting the viewer to a peaceful, idyllic realm.

    Also, Riverine Harmony, a painting that captures  the aquatic life of people of the Niger Delta region, vividly captures the essence of life in that region. Thick green forests, majestic palm trees, and murky river waters converge, forming a lush backdrop. Women navigate their daily lives on the river, their movements fluid and serene. Brown’s bold brush strokes and vibrant colors evoke the regions unique spirit. The painting’s sense of balance and tranquility celebrates the beauty of traditional riverine life. Earthy tones and textured canvas add depth, drawing the viewer into this captivating scene. Riverine Harmony honours the rich cultural heritage of the Niger-Delta region.

    His other paintings are Morning grace, Casting the net, Beautiful covers, Aso Ebi elegance, Tender bond, Rusty brown roofs, River market harmony, Whispers of the forest, Urban tapestry, and Bountiful catch.

    Brown has held about 20 solo shows in Nigeria, South Africa, United States, Sweden, England, France and Germanyincluding Moods & Habits: Recent Masterpieces, a solo at Abuja. In 2018, he showed in “The Content, a group exhibition of watercolour masters at Adam and Eve, GRA, Ikeja, Lagos.

    Brown is recipient of first class honours from the Federal Polytechnic Auchi, Edo State, Nigeria, where he had his formal training in Fine Art. His works have garnered numerous accolades and commendations. Including mentions in books and publications, among which is Artist of Nigeria, by Onyema Offoedu-Okeke, a Ford Foundation Publication and an international publication, For Art’s Sake, A selection from The Yinka Fisher Collection, by Foundation for Contemporary & Mode Visual Art, Nigeria Artist: A Whos Who and Bibliography African Art, Smithsonian Institute, Washington DC, United States of America, USA.

  • Africa making impact in renewable energy investments, says 350 Africa chief

    Africa making impact in renewable energy investments, says 350 Africa chief

    Africa is making progress in renewable energy investments, with Egypt, Kenya, and Morocco leading in solar, wind, and geothermal projects, Africa Managing Director of 350 Africa, Landry Ninteretse, has said.

    In an interview, he said  there is a long way to go to achieve universal access to clean energy.

    Ninteretse noted that Florida or Belgium have a higher rate of solar panels than Africa that is home to more than 40 per cent of the world’s reserves of key minerals for batteries and renewable energy technologies and whose solar energy potential is 50 times greater than the world’s electricity demand forecast for 2040.

    According to him, accelerating renewables is not only crucial for reducing reliance on fossil fuels but also promoting sustainable and inclusive growth.

    “Efforts to improve energy access and electrification can be accelerated only if the barriers are removed: limited investments in renewable sources of energy, inadequate financial mechanisms, insufficient policy and regulatory frameworks and limited technical competence and expertise. This will enable communities to have increased electricity access through initiatives like mini-grid solar projects,” he said.

    He said as a movement-building organisation, 350Africa.org supports campaigns and initiatives to accelerate an inclusive transition to renewable energy and social justice, not only in areas where renewable minerals are found.

    “We mobilise across the continent and deepen commitment of citizens to fight for a sustainable future powered by renewables. We run strategic campaigns in West, East and South Africa in coordination with partners, allies, and communities. We support struggles to confront climate injustices and amplify a narrative on the necessity for climate-smart development rooted in renewables, justice, and equity in Africa,” he said.

    On adoption of renewable energy in Africa, Ninteretse said people have understood that the classic centralised models of electrification are expensive and extremely slow.

    “They resort to renewables despite constraints of price and quality of equipment on the market. Hence our advocacy with polluting countries historically responsible for climate crisis and governments so the former provides funding, and that the latter ensures  barriers to adoption of renewable are removed,” he said.

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    Continuing, he said public-private partnerships are essential for driving renewable energy-sector reforms and infrastructure development.

    He called for strong and steady advocacy and promotion of renewable energy sources on the continent.

    “Such efforts should emphasise quality, durability and efficiency of technology and equipment used. The role of government and its agencies is to ensure the technologies and equipment used meet international standards, not only to protect the population but also not to cause rejection of renewable energy disappointed by poor quality of products in circulation”.

    He reiterated there is no future for fossil fuels, at least in the long run. We live in the last days of economies boosted by oil, gas, and coal.

    “This is an historic and pivotal moment for Africa to get the continent’s economies leapfrog by harnessing clean energy resources. This is a reality African leaders must understand to make right choices for the people, their livelihoods, and planet, instead of falling into a trap of a dying industry,” he said.

    He said developing nations went to COP29 with hopes the $1.3 trillion per year funding request would be met.

    “Unfortunately, latest text published regarding the funding goal speaks of $300 billion per year in climate finance by 2035. This represents less than a fifth of required funding. This demonstrates once again that the rich countries responsible for the climate crisis are gambling with living conditions of people in Global South”.

    Ninteretse said pressure and strong leadership from most affected countries are needed to hold the line in our demand for fair, adequate and ambitious climate finance.

  • Nigeria advocates for transparency in Africa’s extractive industries

    Nigeria advocates for transparency in Africa’s extractive industries

    Nigeria has called for strengthened governance, regional collaboration, and transparency in Africa’s extractive industries to turn the continent’s vast resource wealth into a driver of sustainable development. 

    The Nigerian government also reaffirmed its commitment to creating an inclusive extractive industry anchored on the principles of transparency, regional partnerships, and local capacity building.

    Vice President Kashim Shettima stated the nation’s position on Wednesday during the inaugural International Exhibition of Extractive and Energy Resources (Salon International des Ressources Extractives et Energétiques – SIREXE) in Abidjan, Côte d’Ivoire.

    In a statement issued by Senior Special Assistant to the President on Media and Communications, Office of the Vice President, Stanley Nkwocha, Shettima noted that effective institutions are the cornerstone of turning natural resources into national prosperity.  

    The summit with the theme, “Policies and Strategies for the Sustainable Development of the Extractive and Energy Industries,” brought together leaders from across Africa to discuss innovative solutions for resource management and energy security. 

    According to the Vice President, “this is not just about resources; it’s about people, prosperity, and posterity.

    “The strength of our governance institutions will determine whether resource wealth becomes a blessing or a curse. With the right policies, transparency, and accountability, we can ensure that our mineral wealth fuels development rather than division,” he pointed out.

    Vice President Shettima noted Nigeria’s leadership in transparency reforms with the creation of the Nigeria Extractive Industries Transparency Initiative (NEITI) in 2004. 

    “We became the first country in the world to domesticate the Extractive Industries Transparency Initiative because we understood that opacity breeds inefficiency and corruption. Transparency is non-negotiable for building trust and ensuring inclusive benefits for all”.  

    Senator Shettima also stressed the importance of regional cooperation in addressing shared challenges, saying, “Africa’s energy future is intertwined. The progress of one state ripples across others. Nigeria stands ready to share its lessons and collaborate with ECOWAS partners to build an extractive industry that works for our people.”  

    The VP described how restructuring the Nigerian National Petroleum Corporation (NNPC) under the Petroleum Industry Act (PIA) 2021 into a commercially-oriented entity has transformed the sector. 

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    “NNPC Limited now operates with agility, transparency, and reduced government interference. This shift is setting a new standard for resource governance in Africa,” he explained.  

    The Vice President reiterated the critical role of local content development in driving economic growth, just as he he noted: “Through our Local Content Act of 2010, we increased local participation in the oil and gas industry from 5% to nearly 30%. 

    “The success of projects like the Dangote Refinery, the world’s largest single-train refinery, showcases what is possible when we prioritise indigenous capacity and innovation.”  

    Acknowledging the challenges posed by vested interests and conflicts in resource-rich regions, Shettima said, “We cannot afford to allow cartels and instability to jeopardize our aspirations. That’s why Nigeria is investing in specialized policing frameworks to secure mining sites and ensure sustainable growth.  

    “Our continent is home to 40% of the world’s gold, 10% of its oil, and critical minerals like cobalt and lithium. Yet, our potential remains untapped. Let us rise to this moment, not as isolated nations but as a unified region,” he added.

    In his remarks, the Vice President of Côte d’Ivoire, Mr. Tremoko Meyliet Kone, expressed his appreciation for the visit of Vice President Shettima and others who came from different countries for the event.

    He highlighted the benefits of collaboration among countries and stakeholders in the energy and extractive industries, including cross-breeding of ideas, job creation, and greater maximization of natural resources for the well-being of citizens. 

    While cautioning against pollution, climate degradation, and associated factors, especially in the mining sector, he said Côte d’Ivoire is doing its best to reduce emissions of environmental pollution.

    In his welcoming remarks, the Minister of Mines, Petroleum, and Energy, Mr. Mamadou Sangafowa Coulibaly, extended appreciation to VP Shettima, said the Vice President was the guest of honor at the event, and thanked all participants at the conference. 

    According to him, “there is a need for collaboration and partnership in the sector to meet the global energy needs of people and for economic development of nations.”

    Mr. Coulibaly said the participation of other countries and stakeholders in this first edition of the conference is a sign of cooperation and collaboration to better develop the sector globally. 

    He said the conference has provided participants an avenue to interact and propose solutions to the challenges and risks involved and how best they can serve the people.

    Earlier, the Ambassador of Norway to Côte d’Ivoire, Her Excellency Madam Ingrid Mollestad, said, “The conference was a testament to the nation’s ambition and dedication to enhancing its position as a champion in this industry and to navigate the intricacies and the changing global landscape.” 

    She noted that the gathering is to partner as nations and professionals to investigate sustainable development in the industry that is essential to the global economy and for collaboration, innovation, and shared values.

  • Group hails move for two seats for Africa on UN Security Council

    Group hails move for two seats for Africa on UN Security Council

    The proposed creation of two seats for Africa on the Security Council of the United Nations (UN) will broaden the leadership of the global peace body and engender greater commitment among member nations, Helluva News, the international pan-African online platform publishing in Spanish, has said.

    In a statement issued by the publishers of Helluva News, Mr. Etcetera Ejikeme, such move is not only timeous, coming after 79 years since the creation of the United Nations, when 15 countries are permanent members, with five having veto power, of the global body, but further serve as acknowledgment of the important roles of the continent in global affairs.

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    “The expansion of the Security Council has become very important, especially since the current members of the council were those who won the WW II, and since then, a number of countries have gained independence and are making contributions to regional and global development. Hence, the need to expand the membership to integrate these countries, strengthen the UN and make it more relevant in the contemporary world.

    “Including two Africa countries on the Council is strategic, because Africa has been part of the global body for many decades with only rotational three places on the Security Council.  But with a population of over 1.3 billion and growing economy of 54 countries, Africa can hardly be pushed aside in global affairs, hence the proposed expansion of the body to include two African countries is not only timely, but much desirable,” the release said.

    It lauded recent discussion between Nigeria’s President Bola Tinubu and his UN counterpart, Joe Biden, where both leaders discussed the broader issue of permanent seats on the council, with Biden reiterating the United States’ commitment to promoting African representation.

  • ‘Africa needs better investment treaties negotiations’

    ‘Africa needs better investment treaties negotiations’

    Nigeria and other African countries need to renegotiate many of their investment treaties to avoid or limit liabilities from disputes with international investors. This advice was given by a Harvard Law School-trained expert on international arbitration and litigation, Isaac Ibikunle.

    Ibikunle gave the expert advice while speaking on the topic “Latest Developments & Trends in Energy Disputes” at the 13th Annual Conference of the African Society of International Law held in Lagos.

    Addressing the challenge of liability in renewable energy investment disputes, Ibikunle noted that investment disputes are inevitable in the emerging renewable market in Africa. According to him, African countries need to focus their efforts on measures that will help avoid or limit liability when investment disputes arise in the nascent energy sector.

    “African countries can limit their liability and avoid the same fate which Spain currently faces at various international arbitrations,” said Ibikunle. He said the European Union member state is locked in decades-long battle with foreign investors over the changes to its renewable energy policy and the country is seeking to overturn arbitral awards against it.

    By commencing the process of renegotiating their investment treaties forthwith, Ibikunle said African countries can reflect some innovative provisions such as those found in the African Continental Free Trade Area (AfCFTA) Protocol on Investment. According to the expert, the provisions include those expressly preserving the regulatory powers of African states to modify their domestic laws, review their policies, terminate licences, and provisions imposing renewable energy-related obligations on investors which will ensure that African states can initiate actions or counterclaims when disputes arise.

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    Ibikunle also noted that African countries may seek the General Agreement on Tariffs and Trade (GATT)-style protection for their low-carbon minerals by declaring through their laws and investment treaties that these minerals are essential for their security interests and that the states’ decisions around them are self-judging and no tribunal can review such decisions.

    He observed that considering the various security risks that are so far associated with the mining and processing of these low-carbon minerals on the continent, it is hardly debatable that the minerals are critical to essential security interests of African states. He stated that this protection has been successfully explored by Colombia, although in a non-renewable energy sector, such that the tribunal dismissed the entire claim against the South American state.

    “If renegotiation is resisted, African states should be prepared to withdraw from the treaties in line with the various sunset clauses,” Ibikunle advised.

    The conference brought together other global experts including Makane Moise Mbengue, Professor of International Law at University of Geneva, Switzerland and University of Sciences Po Paris, France; Prof. Damilola Olawuyi SAN, UNESCO Chair on Environmental Law and Sustainable Development at HBKU Law School, Doha, Qatar; Elena Cima, Senior Lecturer, University of Geneva and Chair of the ESIL IG on Energy and International Law; Funke Adekoya SAN, Independent Arbitrator; and Tafadzwa Pasipanodya, Partner, Foley Hoag LLP, USA.

  • Senator Zangon Daura advances Nigeria’s interests, leadership in Africa

    Senator Zangon Daura advances Nigeria’s interests, leadership in Africa

    The Senate Committee on Cooperation and Integration in Africa and NEPAD held a pivotal meeting with significant attendance from its members.

    During the meeting, Chairman Senator Nasiru Sani Zangon Daura presented the committee’s newly drafted work plan and responsibility matrix, which outlines key Ministries, Departments, and Agencies (MDAs) under the committee’s oversight, particularly those involved in Nigeria’s bilateral and multilateral engagements across the African continent.

    The committee also resolved on which MDAs to invite to its first public hearing scheduled for the coming weeks. 

    Senate Majority Whip and committee member, Senator Tahir Monguno, moved the motion for adoption after the Chairman’s presentation, which was unanimously adopted. Vice Chairman Senator Ezea Okechukwu, Senate Minority Whip Eze Kenneth Emeka, Chairman Appropriations Adeola Solomon Olamilekan, Senators Ned Munir Nwoko, Aminu Iya Abbas, Sunday Marshall Katung, Ibrahim Khalid Mustafa, Ngwu Osita, Satso Diket Plang, and Mustapha Khabeeb were also present and contributed to the deliberations.

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    This meeting sets the foundation for the committee’s oversight work in coordinating Nigeria’s economic, security, and financial cooperation efforts, as well as its engagement with the ECOWAS and African Union development frameworks. The adoption of the work plan is expected to streamline responsibilities and strengthen collaboration with relevant MDAs.

    After the meeting, Daura said the committee’s work would guide the executive on Nigeria’s strategic interests in Africa, as the country seeks to enhance regional integration and economic cooperation.

    The Katsina North legislator  emphasised the importance of the legislature being fully informed on agreements Nigeria has with its neighbours, to ensure effective oversight and protect national interests.

    Daura, who served three consecutive terms in the House of Representatives in the 7th, 8th and 9th National Assembly where he was Chairman House Committee on FRSC, Special Duties and Interior, also serves as the Vice Chairman on the Senate Committee on ICT and Cyber Security.