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FG, Chinese Firm Sign MoU on Electric Bicycles, Renewable Energy
Federal Government on Tuesday signed a Memorandum of Understanding with a Chinese Company, Mutual Commitment Company Limited for the assembly of electric tricycles and establish a renewable energy training centre.
The MoU signing ceremony, facilitated by the Rural Electrification Agency, was attended by Adebayo Adelabu, minister of Power, and Mr Abba Aliyu, managing director of REA.
In a statement on Tuesday byBolaji Tunji, Adelabu’s spokesman, it was disclosed that the event took place in Beijing on the eve of the opening of the African-China Co-operation Summit.
Adelabu was quoted as saying that the MoU event was important and will go down as a memorable day for Nigeria.
He congratulated the REA and the National Power Training Institute of Nigeria on the event, saying it will aid in achieving Nigeria’s vision for the renewable energy sub-sector of the entire electricity sector value chain.
Adelabu added, “I know Nigeria and China have a lot of things in common, one of which is the fact that Nigeria and China are both high population countries and with a country with high population, you have so much pressure.
“The first pressure is that of energy access, and the second is job creation. So when you take steps to achieve both, it is a thing of joy. I am particularly happy that this is happening during the tenure of President Bola Tinubu, as it is in line with achieving the Renewed Hope Agenda of the administration for the country.”
The minister reiterated the fact that Tinubu has prioritised the power sector as the driver for all other critical sectors of the economy and, he is giving the sector all the support to ensure it delivers his electoral promises.
He highlighted that energy access and expansion is the government’s major priority because nothing can be achieved without a strong, stable, functional, and reliable electricity sector.
“We have relied so much on centralisation of our power sector for so long that it is not taking us anywhere,” he stated.
Adelabu revealed that almost 40 per cent of Nigeria’s population lacks access to energy with its attendant consequences.
“So, moving away from centralisation, we have decided to adopt the distributed power model to ensure that every Nigerian has access to energy.
“A lot of our population resides in rural areas, and a lot of our educational and tertiary health institutions are isolated, and they are still facing epileptic power supply.
“We have also found out that the adoption of the distributed energy model will expand the energy net for our rural dwellers, the rural businesses, our universities and tertiary health institutions; which is why the focus is on renewable energy which we believe is scalable and can exist in isolation of national grid that is currently facing lots of pressure,” he explained.
According to him, as Nigeria continues to expand energy access, the country also wants to achieve a transition to cleaner sources of energy that are sustainable and environment friendly.
He said the MoU would achieve the vision for the renewable energy sub-segment of the power sector.
“We will be able to produce jobs for our large youthful population that is growing every day.
“Our polytechnics, technical colleges, and universities are turning up graduates every year without assurance of job placement.
“This will go a long way to make it happen. At the same time, we will be able to achieve our energy access expansion,” he added.
He noted that northern African countries such as Tunisia, Morocco, Egypt, and Algeria have achieved 100 per cent electrification of their countries and in South Africa, about 95 per cent.
“Unfortunately, Nigeria is still at 62 per cent, though there are still some African countries with worse levels of achievements, but this is not where we belong. If these countries can achieve this, why is it not possible for Nigeria with the level of our natural endowment?
“We have the gas, and the dams are also there for the hydropower electric. The wind, both desert and coastal, is there while sunshine is also effective. So, what are we waiting for?
“A step like today’s will enable us to move up on our level of electrification. This will consequently lead to growth in our Gross Domestic Product because of the economic activities that would be created.
“This will also save us foreign exchange expenditure on importation and create jobs for our people if we assemble these things locally,” he posited.
Earlier, the REA boss reiterated the importance of the ceremony as it is capable of delivering on the presidential mandate of building local capacity and creating more job opportunities.
“We will track this and ensure the delivery of the commitment within the tenure of the present administration.
“We will also track the economic factor that this initiative will drive, the level of GDP contribution, the employment opportunities provided, and the socio-economic activities that will crystallise,” Aliyu remarked.
He said the MCC is presently engaged in Nigeria with the construction of 12 megawatts and 3 megawatts power plants in Maiduguri and Kaduna, respectively.
The Vice Chairman of MCC, Yan Zhezhu, who spoke through an interpreter, expressed appreciation for the power minister’s commitment to Nigeria’s energy growth.
Credit: Punch
Karex, world’s largest condom maker, plans to raise prices by up to 30 percent due to supply disruptions linked to the Iran war.
This means that safe sex could get more expensive if the war continues to disrupt global supply chains, according to Goh Miah Kiat, CEO, Karex.
Kiat told old Reuters that rising freight costs and shipping delays have increased demand and forced the company to pass costs to customers.
Broader supply chain issues and higher oil prices could impact many everyday products that rely on petrochemicals.
“The situation is definitely very fragile, prices are expensive… We have no choice but to transfer the costs right now to the customers,” Goh told Reuters.
Karex joins a growing list of companies that are bracing for supply chain disruptions amid the ongoing war in Iran.
Based in Malaysia, Karex produces condoms, personal lubricants, gloves, medical catheters and probe covers.
The company manufactures male latex condoms including ONE, Trustex, Carex and Pasante, and it can produce over 5 billion condoms annually. Karex also exports to more than 130 countries, according to its website.
“We’re seeing a lot more condoms actually sitting on vessels that have not arrived at their destination but are highly required,” Goh said.
Federal High Court in Abuja has upheld Federal Competition and Consumer Protection Commission’s (FCCPC) authority to investigate consumer complaints and enforce regulatory oversight in Nigeria.
Tunji Bello, EVC/CEO, FCCPC
In a statement signed by Ondaje Ijagwu, director, Corporate Affairs, the Commission said that in the judgment delivered by James Omotosho on April 20, 2026, the court dismissed a suit filed by Air Peace Limited challenging the Commission’s statutory powers.
The ruling affirmed the Commission’s mandate under the Federal Competition and Consumer Protection Act, 2018 to “receive complaints, assess matters brought before it, and take appropriate lawful steps, including investigation where necessary.”
Reacting to the decision, Tunji Bello, executive vice chairman and chief executive officer of the Commission, said; “the judgment reinforces the importance of regulatory oversight in safeguarding consumers and ensuring fair market practices.”
Bello explained that the case stemmed from complaints involving “unrefunded ticket fares, cancelled flights, and other service concerns affecting passengers.”
Bello stressed that consumers who pay for services are entitled to fair treatment, transparency, and redress in accordance with applicable law.
He also said that investigations conducted by the Commission are administrative processes aimed at establishing facts.
“It does not amount to a finding of liability or wrongdoing,” he said.
The FCCPC boss further reiterated the agency’s commitment to due process and constructive engagement with businesses, noting that the Commission would continue to operate in a “fair, professional, and transparent manner.”
Bello also urged companies operating in Nigeria to cooperate with lawful regulatory procedures and strengthen internal complaint resolution mechanisms to address consumer grievances promptly.
The Commission said it will continue to act within its statutory mandate to protect consumers, promote competitive markets, and build confidence in key sectors, including aviation.
Underscoring the strength of the UK-Nigeria strategic partnership, the UK has completed its first trade and investment mission to Nigeria since the recent State Visit, focused on turning high‑level agreements into practical commercial opportunities for businesses in both countries.
Supported by the UK Department for Business and Trade and delivered by DMA Invest in partnership with the Nigeria Investment Promotion Council (NIPC), the 2-day trade mission brought together 43 delegates from 30 British companies to build partnerships, deepen commercial engagement and pursue new opportunities across priority sectors with their Nigerian counterparts.
With trade between both countries now at a record £8.1 billion, and Nigeria established as the UK’s largest export market in Africa, the mission highlighted where UK expertise can add the more value to Nigeria’s reform‑driven economy.
Opportunities discussed spanned key sectors such as infrastructure; energy and power; water, environment and climate solutions; agriculture; finance and professional services; testing and certification standards; logistics and supply chains; and technology, including education, aviation and communications.
These sectors align closely with the priorities set out under the UK-Nigeria Enhanced Trade and Investment Partnership (ETIP) and reflect areas where UK capability, high standards and long‑term partnership approaches are well matched to Nigeria’s evolving market needs.
The mission also focused on challenging outdated perceptions of Nigeria, highlighting its shift towards a high‑potential, reforming economy, and energising businesses around new commercial opportunities supported by an improving macroeconomic outlook.
It encouraged UK and Nigerian firms to recognise complementary strengths and pursue new partnerships, reinforcing the message that both countries are open for business and natural partners for growth.
Dr Richard Montgomery, British High Commissioner to Nigeria, said: “This trade mission is a clear signal of intent. As the first UK business delegation to Nigeria since the State Visit, it shows how we are turning strong political alignment into real commercial action and long‑term partnerships for businesses in both countries.
“By bringing together UK companies and Nigerian partners across priority sectors and working closely with DMA Invest and the Nigeria Investment Promotion Council, we are backing ambition with delivery and making clear that the UK is committed, engaged and ready to do business with Nigeria for the long term.”
Aisha Rimi, Chief Executive Officer, Nigeria Investment Promotion Commission, said: “This trade mission represents a timely and strategic step in translating the renewed momentum from the UK–Nigeria State Visit into tangible investment outcomes for Nigeria. At the Nigeria Investment Promotion Commission, we are focused on facilitating partnerships that align with our national priorities and unlock value across key sectors of the economy.
The strong interest from UK companies reflects growing confidence in Nigeria’s reforms and its position as a leading investment destination in Africa. We remain committed to working closely with our partners to ensure that these engagements result in sustainable investments, job creation, and inclusive economic growth for both countries.”
Ronald Chagoury Jr. Vice-Chairman of Hitech and ITB, said: “As long-standing investors and operators in Nigeria’s infrastructure sector, Hitech and ITB are proud to support this UK–Nigeria Trade Mission and its focus on delivering tangible commercial outcomes.
“The successful close of a $1 billion ports transaction, backed by UK Export Finance, reflects both our execution capability and the strength of international partnerships when aligned with national priorities. We see this as a pivotal step in advancing Nigeria’s port infrastructure and a strong signal of confidence in the country’s reform agenda under the Renewed Hope framework.”
Atam Sandhu, Chief Executive, DMA Invest, said: “This UK–Nigeria Trade Mission demonstrates the value of bringing government, investors and delivery partners together in a structured, deal-focused environment. Our role is to convene the right stakeholders and translate strategic alignment into practical commercial outcomes.
The quality of engagement across infrastructure, energy, finance and related sectors reflects the depth of opportunity in Nigeria and the UK’s commitment to long-term partnership. We are proud to have supported this mission alongside the UK Department for Business and Trade and NIPC, and to help accelerate conversations that move projects closer to investment and delivery.”
All 43 delegates from 30 British companies participated in the UK-Nigeria Business Forum alongside senior representatives from the UK and Nigerian Governments, Nigerian businesses and the wider private sector.
The forum provided a platform for direct engagement with Nigerian companies, practical discussions, relationship‑building and the exploration of new partnerships aligned with Nigeria’s reform‑driven priorities.
This mission marks an important step in deepening the UK-Nigeria economic partnership. By strengthening relationships, building confidence and supporting deal‑making, it ensures that the momentum from the State Visit continues to translate into sustained commercial outcomes, long‑term investment and shared growth.
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