General News
Finance for Development Lab Calls for an African Liquidity and Stability Mechanism (ALSM)

The Finance for Development Lab (FDL), a new Paris-based economic think-tank dedicated to building a fairer and more effective architecture for international finance, was officially launched earlier this week, in presence of WTO Director-General Ngozi Okonjo-Iweala and 2019 Nobel Prize in Economics winner Esther Duflo.

Central to its launch was the presentation of the African Liquidity and Stability Mechanism (ALSM), a new regional financial arrangement for Africa and the first policy recommendation crafted by the Finance for Development Lab, in collaboration with Egypt’s Economic Research Forum (ERF).
The proposal aims to tackle the need for African countries to address short-term liquidity and long-term solvency challenges in the face of declining financial flows, lower economic growth and the rising cost of sustainable development.
Daniel Cohen, Chair of the Finance for Development Lab, said: “The purpose of the ALSM is to shield African sovereigns from external shocks by fostering deeper and more stable local financial markets, protecting against commodity price shocks and providing technical and financial assistance to help governments manage external debt burdens.”
Ibrahim Elbadawi, Managing Director of the Economic Research Forum said: “While fiscal problems in African countries can be attributed in part to policy-made development failures, the ALSM can complete the continent’s financial architecture by providing a layer of regional financial safety net.”
The Covid-19 pandemic and the war in Ukraine have put African countries under severe financial pressure while tightening global monetary conditions and waning risk appetite from international investors are raising the risk of debt defaults.
Ensuring macro-financial stability and reasonable funding costs is of the utmost importance for the African continent given on one hand, the heavily constrained policy space of African national authorities, and on the other, the urgent challenge of investing in the energy and sustainable transitions.
Financing costs tend to be higher for the region, at least in part because bonds are less liquid and markets perceive them as riskier than other emerging markets, even when fundamentals are equivalent.
Existing financing arrangements have proven inadequate to respond to emergencies and crucially lack scale to achieve global development and climate objectives. Other developing regions have set up their own Regional Financing Arrangements (RFAs) in the aftermath of crises, but the African continent lacked its own.
To achieve this, FDL and its partners advocate for the creation of four facilities which will alleviate countries’ short-term liquidity constraints by enhancing credit and increasing liquidity on debt markets and by tackling the liquidity costs of commodity price volatility. Grouped together, they will form the so-called ALSM fund.
(1) UNECA’s Liquidity and Sustainability Facility, which will improve liquidity and reduce government borrowing costs by providing repo (short-term loans) in exchange for sovereign debt collateral.
(2) A Commodity Hedging Facility, which will protect against the fluctuations in global commodity prices by guaranteeing margin calls which are triggered when prices rise.
(3) A Credit Enhancement Facility which will stabilize the existing debt stock by offering rolling interest payment guarantees.
(4) A Debt Restructuring Facilitation Facility which would facilitate debt restructuring negotiations by providing cash ‘sweeteners’ of a fixed price to marginal creditors in the event of debt restructuring. This liquidity line would reduce the length and the costs of restructuring negotiations
General News
FG Launches the Happy Woman App Platform

Federal government has unveiled a new digital platform to connect millions of women to finance, skills training, and market opportunities, in what officials call the country’s largest technology-driven women’s inclusion initiative to date.

The Happy Woman App Platform, which was unveiled at the Presidential Villa in Abuja, would serve as a single interface for women to access funding facilities, business development support, governmental initiatives, and critical services.
The digital drive comes as Nigeria grapples with expanding gender gaps in financial access, with women much less likely than males to maintain bank accounts or obtain formal credit, limiting their capacity to grow informal enterprises they primarily run.
Yet women remain central to the economy, accounting for a large share of micro and small enterprises that contribute nearly half of the country’s GDP.
According to the Social Institutions and Gender Index, only about 35 percent of Nigerian women have a bank account at a financial institution, compared with 55 percent of men, underscoring the depth of persistent financial exclusion and the urgency of targeted interventions.
The launch coincided with the expansion of the Nigeria for Women Programme, which the administration now plans to scale nationwide to reach 25 million women.
President Bola Tinubu, represented by vice president Kashim Shettima, said the scale-up is central to Nigeria’s economic growth strategy.
“A nation that relegates its women is a nation bound for implosion,” he said, adding that women must be placed “at the centre of national planning and productivity.”
The expanded programme builds on a pilot phase in six states that reached over one million women, many organised into Women Affinity Groups to access grants, savings schemes and livelihood support.
The government says the new app will streamline beneficiary registration, payments and training, reducing leakages and improving delivery.
General News
Indigenous Firm Deploys 400,000 Smart Electricity Meters in 2025

MOJEC International Limited has revealed that it deployed over 400,000 smart meters nationwide in 2025, representing a significant year-on-year growth for the indigenous smart meter manufacturer.

This performance reflected a 33.3 percent increase over the 300,000 meters deployed in 2024, highlighting the scale and acceleration of MOJEC’s metering operations.
Chantelle Abdul, group managing director, attributed the sustained impact to deliberate investments in infrastructure, people, and technology.
“MOJEC operates two state-of-the-art meter production facilities with a combined installed capacity of up to five million meters annually. This scale enables us not just to meet current demand, but to support Nigeria’s long-term metering and energy efficiency goals,” she said.
She further noted that MOJEC’s expansive installer ecosystem, comprising over 5,000 trained professionals nationwide, remains a critical enabler of its delivery advantage, ensuring speed, quality, and compliance across diverse terrains and markets.
The company stated that the deployment surge reflected growing confidence by Distribution Companies (DisCos) and sector stakeholders in MOJEC’s technical capacity, delivery speed, and end-to-end metering solutions.
According to Monday Ubogu, MOJEC’s head of installation, the scale and consistency of delivery set the company apart.
“Within the first three quarters of the year, MOJEC completed about 300,000 installations, accounting for roughly 40 percent of total installations nationwide during that period.
“The momentum continued into the final quarter with an additional 150,000 meters deployed, highlighting our operational depth and nationwide reach,” he said.
Ubogu added that MOJEC’s performance builds on decades of sector engagement, spanning key national metering initiatives including CAPMI, MAF, Vendor Financing, MAP Phases I & II, and NMMP 0, with the company having deployed nearly four million meters since the privatisation of NESI.
According to the company, a substantial portion of the deployment was driven by MOJEC Meter Asset Management Company (M3AC), the Group’s asset management subsidiary, which accounted for about 350,000 installations.
General News
Globacom Donates ₦1Bn to Lagos State Security Trust Fund

In its bid to contribute its quota to the consolidation of security in Nigeria’s commercial capital, Lagos, telecommunications giant, Globacom, has thrown its weight behind the Lagos State Security Trust Fund (LSSTF) with a donation of ₦1 billion.

The generous donation was announced at a Private Sector Breakfast Meeting with CEOs, convened at the instance of the Executive Governor of Lagos State, Mr Babajide Sanwo-Olu, on Friday, January 30, 2026 and shows the company’s commitment to fostering public safety which would in turn, culminate in enhanced prosperity and social re-engineering in the state.
The donation, which is the biggest private-sector intervention from the telecommunications sector to the Fund in recent years, again shows that Globacom is a responsible, responsive and people-oriented corporate citizen.
Globacom disclosed that the intervention emphasized deeper collaboration between government and the state’s business community especially in relation to security, innovation and economic resilience—an agenda which the digital solutions company has unabashedly supported through sustained social investments.
The Executive Secretary/CEO of the Fund, Dr. Ayo Ogunsan, in his display of appreciation described Globacom’s largesse as “a powerful demonstration of corporate citizenship and a strategic investment in the stability of Lagos State,” saying since LSSTF was established to bridge funding gaps in security infrastructure, it desired voluntary contributions from corporate bodies and well-meaning collaborators.
Dr. Ogunsan promised that the ₦1 billion donation will significantly enhance the Fund’s capacity to address critical priorities for 2026, including multipurpose security helicopters and drones, Armoured Personnel Carriers (APCs), water cannons, digital communication equipment and Smart CCTV systems. These assets, he added, were germane to proactive policing, rapid response and intelligence-led operations across the state.
He therefore encouraged Lagosians to support businesses that invest in the safety and development of the state, saying, “When companies step forward to secure our environment, residents should reciprocate by patronizing them. Their support directly impacts the protection of lives, property and economic activity.”
A statement from Globacom explained that the donation was an expression of the company’s staunch belief in Nigeria’s future. “At Globacom, we see security not as a government burden alone, but as a shared responsibility. When people feel safe, enterprise grows, creativity flourishes and hope becomes practical. Our support for the LSSTF is about protecting the everyday dreams of millions of Lagosians,” he noted.
With this donation to the LSSTF, Globacom has furthered its tradition of investing directly in the conditions like safety, confidence and stability which help commerce to thrive. Consequent on the support, LSSTF is gingered to raise the bar of security thereby concretizing Lagos State’s position as Nigeria’s safest and most vibrant commercial hub.
This recent financial intervention from Globacom is in tandem with its avowed commitment to social responsibility that is practical, timely, scalable and aligned with national priorities.
The company’s interventions in the past decades have spanned relief efforts for flood-affected communities, support for displaced persons, advanced youth skills through structured training programmes, and investments in education, culture and digital inclusion.
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