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FG, Chinese Firm Sign MoU on Electric Bicycles, Renewable Energy

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Bola Tinubu
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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


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IFC Invests in Lagos Free Zone to Support Industrial Growth and Economic Diversification

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IFC has announced an equity investment of up to $50 million in Lagos Free Zone Company to support the development and expansion of Nigeria’s first deep-sea port-based, private special economic zone, the Lagos Free Zone.

This investment is designed to address critical infrastructure gaps, attract local and global businesses, and contribute to Nigeria’s economic diversification agenda.

The funds will support the first phase of the 860-hectare Lagos Free Zone, focusing on land development, industrial facilities, and logistics infrastructure.

Owned by Singapore based Tolaram,a diversified multinational group with operations across Africa, Asia, and Europe, Lagos Free Zone strategically integrated with the Lekki Deep Sea Port and will provide an integrated industrial ecosystem for efficient import and export operations, serving as a gateway for Nigeria’s integration into global value chains.

With Nigeria’s economy projected to grow by 3.7% by 2026, investments in infrastructure are vital to ensuring sustainable growth. When fully occupied, Lagos Free Zone is expected to create approximately 30,000 direct, indirect, and induced jobs, while contributing significantly to Nigeria’s GDP upon completion.

“This investment reflects IFC’s commitment to fostering inclusive economic growth and sustainable development in Nigeria. Lagos Free Zone is poised to become a transformative hub for industrial activity, driving job creation and enhancing Nigeria’s competitiveness in global markets.

“We are proud to partner with Lagos Free Zone  in building the infrastructure necessary to attract global and local businesses, enabling Nigeria to achieve its full economic potential.” said, Dahlia Khalifa, IFC Regional Director, Central Africa and Anglophone West Africa.

The investment in Lagos Free Zone also reflects IFC’s commitment to sustainable development, with a focus on green infrastructure. Approximately 15% of the investment is earmarked for climate-related initiatives, including Excellence in Design for Greater Efficiencies (EDGE)-certified buildings and climate-resilient infrastructure.

“IFC’s support represents a significant and positive recognition of our vision to establish  Lagos Free Zone as a world-class industrial hub. This investment allows us to scale up the existing infrastructure to attract more foreign and local tenants while promoting sustainability and creating economic opportunities for Nigeria.

“Lagos Free Zone, integrated with Lekki Deep Sea Port, facilitates ease of doing business in Nigeria and supports the Federal Government of Nigeria’s drive for economic diversification and infrastructure development.

“We look forward to driving growth and delivering lasting impact through this transformative collaboration with the IFC”. Added, Adesuwa Ladoja, MD/CEO at Lagos Free Zone Company

Lagos Free Zone is already home to several manufacturing brands like Kellogg’s, Dano Milk, Colgate, BASF, ADM, and Tata International.

This investment aligns with Nigeria’s ongoing economic reforms and IFC’s strategic frameworks, including the World Bank Group’s Nigeria Country Partnership Framework (2021–2025) and its 2015 Climate Action Plan, both of which prioritize economic diversification, the development of competitive clusters, and investments in climate-resilient infrastructure.

By addressing infrastructure bottlenecks and enhancing connectivity, IFC’s investment in Lagos Free Zone will unlock new opportunities for businesses and strengthen Nigeria’s position as a regional economic leader.


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NOTAP to Relaunch Fruit Juice Production Initiative

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National Office for Technology Acquisition and Promotion (NOTAP) is set to revive the technology transfer project on fruit juice production.

NOTAP to Relaunch Fruit Juice Production Initiative

This initiative, originally launched in collaboration with the Raw Materials Research and Development Council (RMRDC), is based in Paiko, Niger State, North Central Nigeria.

During a courtesy visit to the RMRDC headquarters in Abuja, Dr. Obiageli Amadiobi, director general, NOTAP hinted at this development while leading the office’s management team.

According to a statement provided to journalists by Solomon Nshem, deputy director, Public Relations, NOTAP, the fruit juice project, which began in 2019 with a pilot plant, has enormous economic potential for the country, particularly when domesticated in the six geopolitical zones of the country, and as such, needs to be revived immediately.

According to Dr. Amadiobi, the project will succeed and align with the current administration’s Renewed Hope Agenda, which aims to create wealth, jobs, and self-reliance for the country by combining the technological expertise of both organisations.

In accordance with Presidential Executive Order No. 5, the Director General also urged cooperation with the RMRDC on a number of its flagship initiatives, including the NOTAP Research Laboratory Upgrade Project, Intellectual Property Technology Transfer Offices (IPTTOs), the NOTAP Industry Technology Transfer Fellowship (NITTF), and the Database of Nigerian Professionals.

Prof. Nnanyelugo Ike-Muonso, director general, RMRDC, responded that he is impressed with the project’s concept but that an audit of the pilot plant’s status and a determination of the business operation requirements are necessary.

According to him, the council can also work with NOTAP to upgrade its labs, train RMRDC employees on intellectual property rights, and conduct research and development commercialisation drives with universities.

During the conference, it was decided that in order to ensure the project’s success and cooperation, both agencies’ employees must visit the Paiko site on-site for evaluation and other follow-up meetings

The partnership between NOTAP and RMRDC is anticipated to improve intellectual property creation, R&D commercialisation, technology transfer, and industry connections for research in order to accelerate the country’s technological progress.

 

 


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Senate Expresses Shock over Billions of Naira missing from FG Coffers

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Senate has raised the alarm that billions of naira have left the federal government’s coffers unaccounted for, with critical revenue-generating agencies refusing to honour its Summons.

Senate Expresses Shock over Billions of Naira missing from FG Coffers

The Senate has however expressed anger as these revenue-generating agencies undermine its summon to answer queries raised by the Office of the Auditor General of the Federation (OAGF) about financial transactions.

Addressing Journalists yesterday in Abuja, Senator Aliyu Ahmed Wadada, SDP, Nasarawa West, Chairman, Senate Committee on Public Accounts, explained that the unaccounted funds form part of the resources required for development, stressing that affected agencies needed to account in line with legislative provisions that empower the parliament to investigate them.

According to Wadada, the Auditor General’s report which was submitted to the Committee has unravelled rots in some agencies of government, that it takes only irresponsible parliament not to conduct public investigations, even as he was appalled at how these agencies conspire together and have taken the decision not to honour Senate Committees’ invitations.

The Chairman, Public Accounts Committee has named the Central Bank of Nigeria, Nigeria Customs Service, Federal Inland Revenue Service, FIRS, the Nigerian National Petroleum Company Limited, NNPCL as among the top government organisations that have vehemently refused to honour the Senate when invited.

Wadada has however threatened that the Senate would report heads of these agencies to President Bola Ahmed after another magnanimous opportunity.

Flanked at the briefing by all members of the Committee, Wadada said: “All efforts to get Nigerian Customs Service to the table to know how did this happen, what is the way forward. We are still where we were from the day before yesterday to now.

“The Central Bank of Nigeria, I have a course on one of the issues that I’ve got to do with Central Bank of Nigeria, I have a course to take it on the floor of the Senate.

“It is important for Nigerians to know, under the so-called Ways and Means. What happened under Ways and Means why Central Bank of Nigeria, debited borrower and credited borrower.

“Consolidated revenue funds account is government’s account. And the TSA is also the government’s account. And in charging the interest, instead of the interest to be charged to the treasury account, they went again ahead to charge the Treasury account.

“They went again ahead to Treasury account. charge Consolidated Revenue Funds account which now have amounted to over 6 trillion.”

According to him, there was correspondences between the Committee and Minister of Finance and Coordinating Minister of the Economy and the Debt Management Office, DMO because of the faulty documents which they were not ready to answer to and have been evasive, adding that the report of the Auditor General for the Federation which the affected agencies are running away from covers 2019 till date.

The chairman of the Committee disclosed that Nigeria Satellite Communications Limited had been invited nine times, but failed to appear, Nigeria Police Force; Nigeria Civil Aviation Authority, among others as snubbing Senate’s invitation.


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