Ahead of the 30th United Nations Climate Change Conference (COP30) in Brazil, President Bola Ahmed Tinubu has approved the adoption of a National Carbon Market Framework, operationalization of the Climate Change Fund, and the restoration of the National Council on Climate Change (NCCC) to the federal budget. The measures are designed to strengthen Nigeria’s participation in the global carbon market and unlock between $2.5 billion and $3 billion annually in carbon finance over the next decade to support climate action and sustainable development. The approvals followed a presentation by the Director-General of the NCCC, Mrs. Omotenioye Majekodunmi, during the Council’s…
Author: Abdallah el-Kurebe
Ethiopian farmers and exporters can now apply for, receive, and send phytosanitary certificates entirely online following the launch of the country’s fully operational Integrated Export and Import Certification System (IEICS), popularly known as the e-Phyto system. The digital transition from paper-based to online certification is expected to drastically reduce clearance times, lower administrative costs, and ease market access for agricultural products destined for regional and international markets. Fully integrated with the International Plant Protection Convention (IPPC) e-Phyto hub, the system enables certificates to be transmitted directly to importing countries. This eliminates the need for physical document exchange, curbs fraud, and…
The National Assembly (NASS) on Wednesday approved President Bola Tinubu’s request to secure a total of $2.347 billion from the international capital market to partly finance the 2025 budget deficit and refinance maturing Eurobonds. Lawmakers also granted approval for the President’s request to issue a $500 million debut sovereign sukuk in the international capital market to fund critical infrastructure projects and diversify Nigeria’s financing sources. The approval followed the consideration of a joint report by both chambers’ Committees on Aids, Loans, and Debt Management. In the House of Representatives, the report was presented by Abubakar Hassan Nalaraba, Chairman of the…
• Adaptation finance needs of developing countries projected to exceed US$310 billion annually by 2035• Global goal to double adaptation funding by 2025 unlikely to be met• Report urges urgent action as climate impacts intensify The United Nations Environment Programme (UNEP) has warned that slow progress in climate adaptation is putting millions of lives, livelihoods, and entire economies at risk, particularly in developing countries. According to the Adaptation Gap Report 2025: Running on Empty, released ahead of COP30 in Belém, Brazil, developing countries will require over US$310 billion annually by 2035 to meet adaptation needs — more than 12 times…
Zenture Partners, a consultancy-led and AI-powered telecom lifecycle management provider, has announced a strategic partnership with Graphiant, a leader in private, next-generation Network-as-a-Service (NaaS). The collaboration aims to provide enterprises with cloud-native, software-defined networking that delivers end-to-end clarity and control over inventory, invoices, and network infrastructure — all with the agility and visibility of NaaS. Through its MyZenture platform, Zenture adds an intelligent layer to telecom procurement, enabling enterprises to cut costs, enhance performance, and accelerate network transformation. By combining AI-driven lifecycle automation with Graphiant’s programmable NaaS fabric, enterprises can eliminate redundant assets, prevent overbilling, and dynamically scale connectivity to…
A new global analysis has revealed that the world needs to invest US$443 billion annually to help smallholder farmers adapt to climate change — an amount less than what is currently spent each year on agricultural subsidies that harm the environment and public health. The report, conducted by Climate Focus on behalf of Family Farmers for Climate Action, a global alliance representing 95 million small-scale producers across Africa, Latin America, Asia, and the Pacific, was released ahead of the COP30 climate summit, where adaptation is expected to dominate discussions. According to the study, smallholder farmers who cultivate 10 hectares or…
Africa’s richest man, Aliko Dangote, has unveiled plans to expand the Dangote Petroleum Refinery from 650,000 to 1.4 million barrels per day (bpd), a move that will make it the largest refinery in the world. The expansion, to be completed within three years, aims to strengthen Nigeria’s energy security, boost exports, and drive Africa’s industrial transformation. Speaking at a media briefing in Lagos, Dangote said the $20 billion facility — already the world’s largest single-train refinery — would complete its expansion within three years. The move, he said, was driven by Africa’s rising demand for cleaner fuels, emerging regional opportunities,…
Rep. Abdussamad Dasuki has announced that he will not seek re-election into the House of Representatives in the 2027 general election, describing his decision as a personal sacrifice to give younger Nigerians a chance to serve and lead. In a statement posted on his Facebook page on Sunday, Dasuki reflected on his public service journey since 2011 — spanning the Sokoto State House of Assembly, the House of Representatives, and the State Executive Council — where he said he worked to advance security, youth and women empowerment, and community development. He explained that his decision was not out of fatigue…
Nigeria’s oil revenue dropped by 22% to ₦3.9 trillion in the fourth quarter of 2024, reflecting a significant shortfall against budgetary expectations. This is according to the Budget Office of the Federation (BOF) in its Q4 2024 Budget Implementation Report. The report revealed that the country recorded ₦3.91 trillion in gross oil revenue, representing a ₦1.09 trillion (21.82%) decline compared to the prorated quarterly budget estimate. Performance also fell short of the ₦4.62 trillion generated in the third quarter of 2024 by ₦714.61 billion (15.46%), though it marked a notable improvement of ₦2.02 trillion (107.23%) over the ₦1.89 trillion earned…
Ivorians headed to the polls on Saturday in a presidential election dominated by 83-year-old incumbent Alassane Ouattara, the overwhelming favourite seeking a fourth term in office. Ouattara has led the world’s top cocoa producer since 2011, overseeing years of economic growth as the nation reasserted itself as a West African powerhouse. Nearly nine million voters are eligible to choose among five contenders, though Ouattara’s path appears largely unobstructed after key opposition figures were barred. Former president Laurent Gbagbo was disqualified over a criminal conviction, while ex–Credit Suisse CEO Tidjane Thiam was excluded for holding French nationality. Turnout will be key…