The Nation Newspaper

Tag: investment

  • FG seeks increased investment in ports, targets productivity boost — Dantsoho

    FG seeks increased investment in ports, targets productivity boost — Dantsoho

    The Managing Director of the Nigerian Ports Authority, Dr Abubakar Dantsoho, has reiterated the Federal Government’s commitment to attracting increased investor participation in port development, while outlining measures aimed at improving productivity across Nigeria’s maritime gateways.

    Dantsoho spoke at the Investopia forum held in Lagos, which brought together stakeholders from the United Arab Emirates and the Lagos State Government.

    He said Nigeria is positioning itself to embrace development partnerships through the sustained modernisation and rehabilitation of its port infrastructure.

    According to him, recent federal initiatives are geared towards making Nigeria a leading port destination in Africa.

    He noted that Nigerian ports are investment-ready, offering significant opportunities for public-private partnerships, citing the Lekki Deep Seaport as a successful example.

    The NPA managing director highlighted ongoing modernisation programmes, including the National Single Window, which is expected to become operational by the end of the first quarter of 2026.

    He also referenced approvals for port rehabilitation projects and the introduction of electronic truck call-up systems as evidence of government commitment to reforming the port sector.

    Dantsoho further disclosed that approvals have been granted for the development of new ports in locations such as Badagry, Olokola, and Bonny, describing the projects as part of efforts to create a more attractive investment environment for both local and foreign investors.

    On the African Continental Free Trade Area, he said modern and resilient ports, supported by integrated logistics systems, are critical to unlocking Africa’s trade potential, improving efficiency, and strengthening transparency across maritime and logistics value chains.

    He added that the NPA has reaffirmed Nigeria’s commitment to strategic partnerships by presenting its vision for efficient and future-ready port infrastructure at the Investopia Global Lagos Summit.

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    The strategic panel session, themed “Infrastructure and Logistics for Africa’s Next Phase of Trade,” also featured the Regional Chief Executive Officer of Abu Dhabi Ports Group, Mohamed Almenhali. Discussions focused on port modernisation, corridor connectivity, and the deployment of digital trade infrastructure, including port community systems and the Electronic Truck Monitoring System, aimed at reducing congestion, improving compliance and enhancing cargo movement from ports to inland depots.

    The summit, co-hosted by Nigeria and the United Arab Emirates (UAE), brought together global investors, senior government officials, and industry leaders to explore opportunities across infrastructure, logistics, energy transition, financial systems, and secure supply chains.

    According to him, Nigeria’s size and location position it as West Africa’s trade gateway, supporting the African Continental Free Trade Area (AfCFTA) and providing access to landlocked markets. The NPA MD emphasised the importance of integrated logistics platforms, streamlined customs processes, and coordinated inland depots to improve trade flow and reduce congestion at ports.

    The summit builds on momentum from President Bola Ahmed Tinubu’s recent visit to the UAE, during which Nigeria and the UAE signed a Comprehensive Economic Partnership Agreement (CEPA) to deepen cooperation in renewable energy, infrastructure, logistics, and digital trade.

    President Tinubu’s announcement of Lagos as the co-host city for Investopia reflects Nigeria’s commitment to attracting global capital and translating bilateral agreements into actionable investments.

    He underscored that mobilising private capital through bankable projects and credible public-private partnership frameworks, alongside strategic partnerships with global investors like the UAE, will strengthen Nigeria’s supply chains and position the country as a hub for regional and global trade.

    He reaffirmed its commitment to advancing port reforms, improving operational efficiency, and promoting sustainable maritime practices, demonstrating Nigeria’s readiness to embrace development and investment that will transform its ports into a driver of regional integration and economic growth.

  • $20 investment in African youth yields over $200 return

    $20 investment in African youth yields over $200 return

    Junior Achievement (JA) Africa, one of the continent’s largest youth economic empowerment organizations, has revealed that every dollar invested in its youth yields an economic return of over $20.

    The disclosure was made on the sidelines of the 15th edition of the JA Africa Company of the Year (COY) Competition, which is being held in Abuja from December 3–5, 2025. 

    The competition serves as a premier platform for secondary school-aged youth to showcase their business ventures under the theme: “ACT! Action for Climate Transformation.” 

    Student companies from eight African nations, including Nigeria, Eswatini, Ghana, and South Africa, are competing for a chance to represent the continent globally.

    JA Africa currently reaches over 1.5 million young people annually across 23 countries, “equipping them with the mindset and skills to navigate the global economy.”

    In Nigeria, the organization has already impacted 200,000 secondary school students through its intensive Company Programmes.

    Speaking about the resources required for such a massive undertaking, Mrs. Simi Nwogugu, President and CEO of JA Africa, explained the financing model.

    “Yes, it costs quite a bit. And thanks to our sponsors at FedEx and many other sponsors who enabled us to have our programming, we’re able to reach young people across Africa,” she said.

    Nwogugu clarified that the cost per participant varies depending on the programme’s intensity. 

    “The cost per student varies by program. But overall, if we just do what our budget is divided by what our number of students is, our cost per student is usually within $20 to $25 per student.”

    She added that the long-term nature of certain programmes drives up the expense. 

    “A programme like the Company Program where it’s almost a year-long programme that they’re building a business and we’re providing tools and frameworks for them is one of the more expensive ones than a programme that is a one-day innovation camp, for example.”

    The investment in these young entrepreneurs appears to be yielding dividends for the community and society at large. 

    Asheesh Advani, President & CEO of JA Worldwide, cited a research when speaking about the value of these initiatives.

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    “And based on some of that research, we find the ROI for every dollar invested is over $20 back,” Advani stated. “So it’s a very high return on economic investment for community and for society. So I hope that makes it into your article.”

    JA Africa is also pioneering inclusive policies to ensure young people with disabilities are not left behind.

    “This particular programme, especially in Nigeria, we ask that at least 5 percent, ideally 10 percent of the students be young persons with disabilities,” Mrs. Nwogugu noted. 

    Recognizing the need for specialised assistance, the organization works collaboratively. 

    “And we partner with organizations that serve that population specifically, knowing that we don’t have the expertise.”

    She elaborated on the support provided, confirming a commitment to accessibility for all. 

    “So they are helping us to make sure that we have programmes in braille for visually impaired students, programming for hearing impaired and other disabilities, including the ones you don’t see. So most of the time we talk about disabilities we see, but there are also all kinds of special needs young people as well. So we want to make our program as inclusive as possible.”

    The theme of the current competition, “ACT! Action for Climate Transformation,” is positioning youth entrepreneurship as a critical tool for tackling continental challenges.

    “At JA Africa, we believe Africa’s greatest resource is the brilliance and creativity of its young people. Climate action is not just an environmental issue; it’s a development imperative,” Nwogugu said. 

    She noted that COY serves as a vital spark for this talent, “COY gives young people a platform to transform ideas into action, showing the world that Africa’s youth are not only the leaders of tomorrow but the changemakers of today.”

    Advani praised the passion on display at the African finals, saying, “COY in Africa has a unique energy — year after year, students present extraordinary ideas. To succeed as an entrepreneur, you must first believe in yourself. JA builds that self-efficacy, and awards help strengthen that belief.”

    The students are competing across six cutting-edge tracks: Innovation & Technology, Artificial Intelligence, Financial Technology (FinTech), Digital Media and Creation, Renewable Energy, and Circular Economy and Sustainability. 

    The ultimate winner will proceed to represent Africa at the Ralph de la Vega Global Entrepreneurship Competition.

  • Southeast in Southwest- Investment, influence, and the question of home

    Southeast in Southwest- Investment, influence, and the question of home

    • By Adebamiwa Olugbenga Michael

    Across Nigeria, patterns of internal migration and economic dominance have long shaped local and regional dynamics. One of the most visible examples is the significant presence of Igbo entrepreneurs in the Southwest, particularly in Lagos and its environs. Over decades, Igbo traders and investors have built sprawling commercial empires, contributing significantly to the economic vitality of the region. Yet, this success has also sparked questions about loyalty, integration, and the responsibilities of migrants in host communities.

    It is undeniable that the Igbo have a remarkable entrepreneurial spirit. Many left their ancestral homes in the Southeast during the post-civil war years and settled in Lagos, Ibadan, and other commercial hubs. There, they invested capital, energy, and ingenuity to build thriving businesses from markets and trading houses to real estate and manufacturing. Their contribution to the Southwest economy is both substantial and visible.

    But with influence comes tension. Indigenous Yoruba communities have begun to push back politically and economically. Local leaders are advocating for policies that prioritize indigenous participation in commerce, land use, and political representation. This pushback, while often framed as protection of indigenous rights, has been met with anger and resistance from some Igbo investors who see the Southwest as the land where they made their fortunes.

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    The underlying question is both practical and philosophical. Why do Igbo investors expend such energy outside their homeland instead of building equally competitive states in the Southeast? The answer is complex. Lagos, with its unparalleled population density, access to international trade routes, and commercial ecosystem, presents opportunities that the relatively less urbanized Southeast cannot match. Investment in Lagos promises faster returns and a wider market.

    Yet, this economic migration has social consequences. The perception among some Yoruba communities is that long-term Igbo presence in the Southwest has sometimes ignored the culture, history, and political rights of the host population. While many Igbo have integrated, the ongoing tensions suggest a gap between economic contribution and socio-political acceptance.

    Historically, Nigeria has experienced similar patterns. Migrants often cluster in regions offering economic opportunity, leading to friction over land, governance, and resources. The 1950s offer a partial parallel, before independence, Nigeria saw cross-ethnic political collaboration, yet post-independence politics revealed the limits of integration and the enduring power of ethnic loyalty. Today’s economic migrations echo those earlier dynamics, but in commerce rather than politics.

    Some argue that this tension is natural. Host communities have a right to expect respect, cultural sensitivity, and shared governance from long-term residents. Yet, the migrants’ argument is equally compelling; they have invested heavily, created jobs, and fuelled regional growth. Both perspectives are valid, but the lack of a shared framework for coexistence has amplified disputes.

    There is also the matter of imagination and ambition. Could the Southeast develop Lagos-like commercial hubs, capable of attracting internal migrants and investment? Many analysts believe yes, citing the entrepreneurial prowess of the Igbo themselves. But doing so requires infrastructure, political will, and a long-term vision, elements often hampered by governance challenges in the region.

    The current friction, then, is not merely about money or politics. It is about respect, belonging, and the balance between host and guest. Yoruba communities seeking to assert their rights are exercising a legitimate prerogative, while Igbo investors expressing frustration are asserting their stake in the national economy. Both impulses are understandable, yet both require negotiation and compromise.

    Critically, the debate also forces a broader reflection. Should Nigerians invest primarily where opportunity exists, or where they are culturally rooted? Is economic migration inherently at odds with regional loyalty? The answer may lie in a nuanced combination of both, a commitment to national integration that respects local rights while fostering cross-regional prosperity.

    Ultimately, the question is one of perspective. From the Igbo point of view, their labour and investment have helped build Lagos into a global commercial hub. From the Yoruba perspective, the Southwest is home, and long-term residents deserve recognition and influence. Bridging this divide demands empathy, structured policy, and mutual respect.

    The stakes are high. Without dialogue and careful management, economic competition can easily turn into ethnic friction, undermining the very prosperity that has been painstakingly built. But with foresight, both communities can benefit, the Southeast could learn to replicate Lagos’ commercial model at home, while the Southwest could institutionalize inclusive policies that reward contribution without eroding local identity.

    Nigeria’s larger lesson is clear; prosperity must be coupled with respect. Economic success is insufficient if it deepens cultural divides. Migration, investment, and ambition are valuable, but they must harmonize with the social fabric of host communities. Only then can regional tensions transform into collaboration, and individual achievement into shared national progress.

    The story of the Southeast in the Southwest is thus not just about business. It is a mirror reflecting Nigeria’s ongoing challenge, balancing opportunity, identity, and belonging in a country still negotiating the terms of unity within diversity. The question remains, will we learn to respect each other as we grow, or will competition deepen the fault lines that have always threatened our cohesion?

    •Michael writes via gbengaadeba@hotmail.com

  • Nigeria-Canada conference to boost trade, investment partnerships

    Nigeria-Canada conference to boost trade, investment partnerships

    Government officials, business executives, and investors from Nigeria and Canada are set to converge in Ottawa for the Nigeria-Canada Partnerships, Trade and Investment Conference (NCPTIC 2025) to strengthen bilateral trade and investment ties for sustainable economic growth.

    Speaking with The Nation, President of the Nigeria-Canada Partnerships Trade and Investment Conference, Wale Adesanya, said the conference, scheduled for October 29 and 31 at the Fairmont Château Laurier, Ottawa, will focus on actionable strategies for growth, investment, and cross-border partnerships between both countries.

    Adesanya noted that the conference, with the theme “Strengthening Bilateral Trade and Investment for Sustainable Economic Growth,” promises to be a landmark occasion for advancing strategic business alliances and reinforcing Government-to-Government cooperation between Nigeria and Canada.

    “Nigeria, Africa’s largest economy, offers an expansive market with enormous potential, while Canada stands out for its advanced technological ecosystem, investment capacity, and stable business environment. This combination presents a fertile ground for win-win economic collaboration.”

    He said that trade between the two countries has been on a steady rise, adding that in 2023, Nigeria became Canada’s largest bilateral merchandise trading partner in Africa, with trade volumes reaching $3.6 billion.

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    “Canada’s imports from Nigeria were valued at $3.0 billion, largely driven by mineral oils, fuels, and cocoa, while Canada exported goods worth $579.7 million to Nigeria, including cereals, fertilisers, and motor vehicles. Nigerian direct investment in Canada has also grown steadily, standing at $1.7 billion as of 2021.”

    Adesanya explained that beyond trade statistics, the Nigerian diaspora in Canada continues to play a pivotal role in sectors ranging from real estate and fintech to education and agriculture.

    “From running successful bakeries in Calgary to leading ventures on the Toronto Stock Exchange and managing innovative tech startups in Vancouver, Nigerians in Canada are contributing immensely to the country’s entrepreneurial ecosystem.”

    He added that NCPTIC 2025 will feature keynote speeches, sector-specific panel discussions, and B2B networking sessions aimed at unlocking opportunities in key sectors such as energy, agriculture, ICT, infrastructure, manufacturing, and financial services.

    “This is not just another conference. It is your gateway to tangible deals and long-term prosperity. Spaces are strictly limited, and we encourage businesses to secure their place at the table.”

    Adesanya said virtual access will be available for key sessions to accommodate wider participation, adding that registration details are available at https://Conference.ncbn.ca.

    “For businesses seeking entry into African markets or Nigerian firms aspiring to access Canadian expertise, finance, and technology, NCPTIC 2025 is a not-to-miss opportunity.”

  • Bilateral investment treaties: a gateway to economic growth, investor confidence

    Bilateral investment treaties: a gateway to economic growth, investor confidence

    • By Dr Sijuola Atanda-Lawal

    In the ever-shifting landscape of global economics, Bilateral Investment Treaties (BITs) continue to emerge as critical tools for fostering cross-border investment and strengthening investor confidence, particularly in emerging and transition economies.

    These treaties, signed between two countries, establish the terms and protections for private investment made by individuals and companies from one state into the territory of another. In an increasingly competitive international market, BITs serve not only as legal frameworks but as confidence-building mechanisms that assure investors their rights will be protected.

    Investor protection and legal certainty

    One of the core benefits of BITs is the legal security they provide. These agreements typically include guarantees such as fair and equitable treatment, protection from expropriation without compensation, free transfer of funds, and access to international arbitration in case of disputes.

    These provisions help mitigate political and legal risks in the host country, making it a more attractive destination for foreign direct investment (FDI).

    “Investors seek predictability,” says Professor Charles Chatterjee, an international investment law expert at the Global Economic Institute.

    “When BITs guarantee transparent treatment and independent dispute resolution, they help reduce the fear of arbitrary government action.”

    Economic growth and development

    BITs are not just about legal protection—they are powerful economic tools. By attracting FDI, BITs can stimulate economic development, create jobs, and facilitate technology transfer.

    Countries with well-negotiated treaties often see increases in infrastructure development, access to global markets, and broader integration into international trade networks.

    In recent years, countries in Africa, Southeast Asia, and Latin America have seen BITs act as springboards for industrial growth, especially in sectors like energy, telecommunications, and manufacturing.

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    Strengthening diplomatic and trade relations

    Beyond investment, BITs can open doors to deeper diplomatic and trade ties. They signal a country’s commitment to the rule of law and open markets, which can influence broader economic partnerships and trade negotiations.

    “Signing a BIT is also a diplomatic act,” notes Carlos Mendoza, a former trade negotiator for Peru.

    “It strengthens bilateral relations and can lay the groundwork for comprehensive trade agreements down the line.”

    Balancing state sovereignty and investor rights

    However, the rise of BITs has not been without criticism.

    Some argue that overly investor-friendly treaties can restrict a state’s regulatory power, especially in areas such as environmental protection, public health, and labour rights.

    The modern approach now involves careful drafting of BITs to ensure a balanced approach that respects both investor protections and sovereign policy space.

    As global investment flows continue to shift, especially in the wake of economic shocks and geopolitical tensions, BITs are poised to remain central to international economic law.

    Their evolution—from simple investment guarantees to more sophisticated agreements with sustainable development clauses—marks a new chapter in global economic cooperation.

    For developing nations, emerging markets, and even established economies seeking to diversify investment sources, the careful negotiation and signing of BITs could be a decisive step toward long-term economic resilience.

    • Dr Atanda-Lawal is an international legal expert

  • EU proposes trade, investment dialogue with Nigeria

    EU proposes trade, investment dialogue with Nigeria

    The European Union (EU) has proposed the creation of a formal trade and investment dialogue framework with Nigeria to unlock further opportunities in infrastructure, green finance, and sustainable development.

    This initiative is intended to deepen economic collaboration between both parties and enhance mutual benefits.

    At the centre of discussions was the bloc’s position as Nigeria’s largest trading partner and a major source of foreign direct investment.

    Talks also covered the EU’s €1.3 billion investment portfolio in Nigeria, engagements by the European Bank for Reconstruction and Development (EBRD), and the Global Gateway Investment Strategy, which seeks to strengthen Africa-Europe economic relations.

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    Strategic projects such as the Trans-Saharan Gas Pipeline and the National Single Window trade system were reviewed, aligning with Nigeria’s fiscal consolidation and infrastructure modernization plans.

    Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, welcomed the initiative, stating Nigeria’s commitment to macroeconomic stability, investor-friendly reforms, and digital transformation.

    He pointed to ongoing efforts to improve the ease of doing business, the country’s projected GDP growth of 4.6 per cent by 2025, and a rising trade surplus as key indicators of economic progress.

    Both sides expressed optimism about future engagements, with a shared commitment to strengthening a robust and mutually beneficial economic partnership.

  • The Role of Commodities in a Diversified Investment Portfolio

    The Role of Commodities in a Diversified Investment Portfolio

    Investors can hedge against inflation, diversify their portfolios and gain exposure to critical industries with the help of commodities. From crude oil and gold to wheat and even cocoa, commodities are crucial elements in balancing the economy and market activity. For both individual and institutional investors seeking to improve their financial tactics, learning how to invest in commodities effectively is vital.

    Understanding Commodities and Their Importance

    Commodities are basic agricultural or unprocessed materials that can be traded for standardized contracts. They are generally divided into two categories:

    • Soft Commodities: Subcategories include products from agriculture like sugar, wheat, cocoa and coffee.
    • Hard Commodities: These include our mother nature’s natural resources such as gold, crude oil, silver and industrial metals like copper and aluminum.

    In addition, commodities’ prices are directly influenced by macroeconomic trends, geopolitical events and market supply and demand. As an illustration, the U.S. Energy Information Administration (EIA) reported that during the 2022 worldwide energy crisis, crude oil increased in price to over $120 a barrel due to geopolitical conflict and supply chain disruptions.

    One of many financial services companies is Exness, which facilitates trading in commodities and enables one to operate with different commodities with the use of sophisticated trading instruments and market analysis.

    The Relationship Between Commodities and Inflation

    Commodities serve as a hedge against inflation. When inflation increases, the purchasing power of fiat currencies decreases, thus making tangible assets such as gold and oil more valuable. Gold, for instance, has always been an asset of haven due to its value, even in times of recessions and economic uncertainty. For example, in 2023, gold prices increased by 8% as a result of inflation and the looming fear of a recession. This is supported by the World Gold Council here. Gold also increased by 2.5% in 2022, illustrating the strength of gold as a hedge in times of uncertainty.

    Usually, when trying to shield their investment portfolio from the impact of inflation, for example, many investors typically tend to allocate some of their resources towards commodities since they do not lose their value together with fiat currencies.

    Commodities vs. Stocks: Key Differences

    Apart from commodities, stocks are also considered an essential form of investment. Nevertheless, commodities and stocks differ greatly in the following aspects:

    • Volatility: Unlike stocks, commodities are much more volatile due to uncontrollable events such as weather, supply chain problems and even geopolitical events. On the other hand, stocks are controlled by company profits and market movement.
    • Ownership: An investor in a company’s stock is considered a partial owner, while commodities are traded as contracts that do not convey ownership.
    • Diversification Benefits: An investor’s portfolio is balanced by commodities since they hedge against stock market slumps.

    Both stock and commodity trading are popular among many investors as it helps to manage risk and maximize profits. Traders can easily streamline their strategies with a single trading account thanks to Exness, which specializes in both types of assets.

    How to Trade Commodities Successfully

    Profiting from commodities takes thorough and accurate research, risk control and staying abreast of emerging trends. Here are some key strategies:

    • Understand Market Fundamentals: Stay abreast of underlying supply and demand movements, geopolitical threats and macroeconomic developments influencing the price of commodities.
    • Use Technical Analysis: Traders often anticipate future price movement through chart patterns and other technical indicators.
    • Diversify Investments: Investments should not be concentrated in just one commodity. Spreading the investment over several asset classes is the intelligent way to control risk.
    • Monitor global events: commodity prices can be very sensitive to trade policies, weather changes and economic announcements.

    Traders needing precise trading tools can take advantage of Exness’s real-time market data, as well as their trading calculators and analytics, which transform trading decisions into well-informed ones.

    The Future of Commodities in the Investment Landscape

    While there are emerging investment approaches and technology in place, the commodity market continues to expand. The use of predictive market analytics and automated trading strategies, which are driven by artificial intelligence, provides automated solutions to traders for making data-driven decisions. Moreover, the implementation of blockchain technology improves the safety and transparency of smart gift contracts and digital asset tokenization, making it easier to trade commodities without the risk of fraud. New trends include:

    • Renewable Energy Commodities: Lithium, used in batteries and rare earth metals are increasingly gaining attention as commodities due to their responsiveness to sustainable policies.
    • Commodities on the Blockchain: The tokenization of the blockchain makes it easy to trade.
    • ESG (Environmental, Social and Governance) Investing: Commodities trading can now take into account ethical and environmental issues when making a selection. With the world pushing towards renewable energy, lithium, which is used in powering electric vehicle batteries, is in ever-growing demand. On the other hand, ESG-driven sustainable agriculture is rising, with organic coffee and fair trade cocoa.

    The significance of commodities on financial markets is still relevant, as they provide excellent diversification and inflation-fighting options for investors. Exness is one of the platforms that were reliable for trading, as it enabled traders to trade a variety of commodities efficiently and accurately.

    Conclusion

    Commodities have and will always be a precious class of assets to invest in or trade with and have the potential to provide value to the trader’s portfolio during inflation-induced economic crashes. They are great for traders and investors who want to exploit price fluctuations, such as investing in gold for inflation protection or trading crude oil depending on the geopolitics of a region. Investors can confidently trade on commodities by maximizing their wealth and financial capacity using Exness and other advanced trading platforms.

  • GEIL, Lekoil expand social investment footprint, flag off new projects in four communities

    GEIL, Lekoil expand social investment footprint, flag off new projects in four communities

    Green Energy International Limited (GEIL) and Lekoil Oil & Gas Investment Limited has flagged off several projects across four communities in Adoni Local Government area of Rivers State, following the inauguration of the Host Community Development Trust (HCDT) early last year. 

    The communities, namely Ugama Ekede, Ayama Ekede, Asukama and Asukoyet are all beneficiaries of the various positively impacting projects which include infrastructural and non-infrastructural projects as well as human capital development projects.

    Some of the projects to be implemented include construction of Asukoyet link road (Phase1), construction of Asukama box culvert, completion of Asukama town hall, construction of Ugama Ekede link road (Phase 1), administration of scholarship and empowerment in Asukama, administration of scholarship in Ugama Ekede. 

    In addition, the company is also renovating the community secondary school and other buildings in Ikuru town community, borehole repairs and water reticulation in Asukama, ⁠completion of 6 classroom block in Asukoyet, ⁠scholarship, bursary and empowerment in Asukoyet, ⁠concrete, embankment round Ayama Ekede town hall, ⁠scholarship and bursary in Ayama Ekede among others.

    Speaking at the flag-off ceremony, Godwin Omayi, representative of Green Energy LEKOIL JV, noted that the Host Community Development Trust (HCDT) has been implemented to enhance the wellbeing of the people in the community.

    He enjoined members of the community to ensure peace and cooperation with the contractors handling the projects, as the only prerequisite for greater development in the community.

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    He added: “The joint venture will continue to ensure that projects with life changing impacts will continue to be implemented within the communities, as a demonstration of the JV’s commitment to lasting development in the communities.”

    Pledging the support of his community to the Joint Venture and the projects being commissioned, the paramount ruler of Asukoyet community, King Brown David Asuk the sixth, noted that the initiative of the Joint Venture is highly welcome by the community. 

    He added that accessible roads had been far out of reach for members of the community before now, noting that the construction of new roads will ease the pain of community and open up the community to development within the Local Government area and beyond. 

    Through the development of its host communities, Green Energy International Limited prides itself on continuously contributing to the UN Sustainable Development Goals, which drive sustainable interventions within the communities, to provide effective facilitation and mentoring that democratically support a suitable direction that can sustain their livelihoods.

  • Group eyes $496.12b global impact investment market for Nigeria

    Group eyes $496.12b global impact investment market for Nigeria

    With the global impact investing market reaching an $496.12 billion in the previous year, there are ongoing initiatives to showcase Nigeria as a destination for businesses that adhere to strong Environmental, Social, and Governance (ESG) practices.

    Internationally, ESG is also becoming a prerequisite for investors when funding any project or business.

    More than $100 million have come into the country through institutional, venture and private sector investors aimed at supporting projects with social impact.

    To this end,  the Impact Investors Foundation (IIF) has established the Nigerian Impact Investing Research and Industry Collaborative (NIIRIC) to facilitate advancements in mobilising impact investments for economic growth.

    The Chief Executive, the Impact Investors Foundation, Ms. Etemore Glover, said the  innovative initiative sought to stimulate the development of the impact investing landscape by encouraging collaboration, promoting meaningful research, and enhancing the capabilities of participants.

    According to her, NIIRIC aims to position Nigeria as a leading impact investing hub in Africa by providing the necessary resources and suppor.

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    Ms. Glover said: “The launch of NIIRIC marks a pivotal moment for impact investing in Nigeria.” She added that NIIRIC aims to be the leading collaborative platform driving impactful research and industry engagement in Nigeria’s impact investing sector and was established with funding from FCDO’s Research and Innovation Systems for Africa (RISA) Fund. The NIIRIC’s mission is to coordinate, facilitate, and disseminate high-quality research, industry insights, and capacity-building programmes that will strengthen the impact investing ecosystem in Nigeria.

    “NIIRIC represents a significant milestone in our efforts to foster innovation and research in Africa’s impact investing sector. By providing a platform for collaboration and knowledge sharing, we are confident that NIIRIC will play a crucial role in unlocking Nigeria’s potential as a hub for sustainable and impactful investments.”

    “We believe by harnessing the power of collaboration and research, we can unlock the immense potential of impact investing to drive sustainable development and create positive change,” Country Lead for Research and Innovation Systems for Africa (RISA) Fund, Alice Omisore-Dada added.

    The NIIRIC will focus on four key areas to achieve its mission. They are research and data generation, capacity building, policy advocacy and investor network development.

    Other key dignitaries at the event include Director General of Lagos Chamber of Commerce and Industry, Dr. Chinyere Almona and Senior Research and Policy Officer at Impact Investing Ghana, Julius Lamptey.

    At the event, eight organisations were appointed as members of the Steering Committee of the NIIRIC. These organisations are Lagos Business School (LBS), Lagos Chamber of Commerce and Industry (LCCI), The Private Equity and Venture Capital Association (PEVCA), Ideanest Investments, International Center for Energy, Environment and Development (ICEED), ARI Initiative, Ashoka Africa and ACT Foundation.The potential for impact investing in Nigeria is immense, with opportunities across various sectors including agriculture, healthcare, education, and renewable energy.

  • Shareholders advocate investment in NBL’s N600b rights issue

    Shareholders advocate investment in NBL’s N600b rights issue

    Shareholders associations in Nigeria have given their nod to plans by Nigerian Breweries (NBL) Plc to raise N600 billion through Rights Issues on the back of foreign exchange exposures that precipitated a loss of N106 billion for the 2023 financial year.

    The company had announced at its pre-AGM briefing held on April 10, 2024, that the funds, when raised, would be used for payments of all overdue foreign exchange debts, eliminate forex exposure, and strengthen the company’s balance sheet and liquidity position.

    In separate statements, Boniface Okezie, National Coordinator, Progressive Shareholders Association of Nigeria (PSAN), Bisi Bakare, National Coordinator, Pragmatic Shareholders Association (PSAN), and Moses Igbrude, National Coordinator, Independent Shareholders Association Of Nigeria (ISAN), both gave their backing to the Rights Issue, saying it will help steer the company back to profitability.

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    In his own statement, Okezie regretted the headwinds that triggered the erosion of shareholders’ funds but expressed satisfaction with plans by the nation’s biggest brewer to return to profitability.

    “The Rights Issue is the way to go. Nigerian breweries need to rebuild their shareholders’ funds that were eroded by FX losses. The N600 billion proposed for Right Issues is going to fly as long as the foreign partner commits to take up their right when open,” Okezie said.

    He called on Nigerian shareholders to embrace the offer because, according to him, the strategic plans being put in place by the company will lead to a quick return to profitability.