General News
GE, IRENA sign a Collaborative Agreement @ COP 27 to Support Global Climate Change Agenda
GE has signed a framework agreement with the International Renewable Energy Agency (IRENA) to collaborate on a plan which will support both climate change and energy security.
The agreement was signed by Francesco La Camera, Director-General of IRENA, and Roger Martella, Chief Sustainability Officer of GE at the 27th Conference of the Parties of the UNFCCC (COP 27) in Egypt.
Through this collaboration, GE and IRENA have agreed to cooperate across several specific pillars including decarbonization, thought leadership, adoption and sustainable use of all forms of renewable energy. COP27 provides the right context and platform for the agreement to move forward.
Francesco La Camera, Director-General of IRENA, commented: “Any near-term shortfall in action will further reduce the chance of keeping 1.5°C within reach. We are acutely aware that scaling up renewable energy investments and decarbonization technologies is more important today than ever.
“Our collaboration with GE underlines how partnerships within the industry can – and must – serve our mission of supporting countries in their transition to a sustainable energy future. Together with forward-looking multinationals such as GE, we hope to accelerate progress and fuel global ambitions to achieve net zero.”
“GE knows that partnership is critical to solving climate change and energy security. We are thus honored to partner with IRENA as a key stakeholder to achieve the shared goal of a just and ambitious energy transition,” said Roger Martella, Chief Sustainability Officer, GE.
“As a company whose equipment helps generate one-third of the world’s electricity, GE is rising to the challenge of innovating technology to decarbonize the energy sector while making energy more reliable, affordable, and sustainable for the 750 million people who lack access.”
The US Department of State’s Bureau of Energy Resources Assistant Secretary Geoffrey R. Pyatt stated, “The United States strongly supports private sector-led industrial decarbonization efforts, and we look forward to working closely with GE and other cutting edge industry players to advance these initiatives.”
Following the signing of the agreement, GE and IRENA will explore how to jointly support decarbonization efforts in critical markets and sectors, including onshore and offshore wind, bio energy with CCUS, hydro, green hydrogen, energy storage, electrification, and the latest grid modernization technologies.
The organizations plan to collaborate on identifying thought leadership, events, and knowledge exchange opportunities with strategic stakeholders and partners to promote the continued growth of the renewables sector.
Speaking on the agreement, Mohammed Mijindadi, President, GE Nigeria said “This agreement is a welcome development for Nigeria with its ambition to diversify the nation’s energy mix.
“GE’s Renewable Energy business is providing technology and services that can help enhance the country’s renewable energy generating capacity, improve and optimize the grid infrastructure, as well as leverage its advanced digital service offerings for cutting edge transformation”.
The partners will also consider technical cooperation, exploring collaboration on technical solutions and capacity-building that support regional and country-level stakeholders.
This agreement demonstrates GE and IRENA’s commitment to achieving climate change goals while focusing on the three pillars of the energy trilemma –reliability, sustainability, and affordability.
Federal Competition and Consumer Protection Commission (FCCPC) has warned Lagos traders against enforcing the unlawful “no return, no refund” policy, declaring it illegal under the Federal Competition and Consumer Protection Act (FCCPA) 2018.
FCCPC
Dr Olubunmi Otti, FCCPC Southwest Zonal Coordinator, issued the directive during the inauguration of new executives of the Phone and Allied Products Dealers Association (PAPDA) on Wednesday, stressing consumer education as the strongest defence against market exploitation.
“There is no such thing as ‘no return, no refund’. If a product does not fulfil its intended purpose, the consumer has the right to return it,” Otti declared, adding the commission mediates complaints for refunds, replacements, or exchanges.
Non-compliant businesses face fines, product withdrawals, seizures, prosecutions, or shutdowns. Otti noted thousands of monthly complaints via the FCCPC portal in the Southwest alone, with sensitisation expanding to Alaba Market and Trade Fair Complex.
She urged consumers: “When your rights are violated, do not just say, ‘You give it to God.’ Bring your complaints to the FCCPC. The law empowers us to protect you,” while calling for traders’ collective responsibility to ensure quality products and services.
African Development Bank Group (AfDB) has approved a €6.5 million investment in the Saviu II venture capital fund to boost technology start-ups across Francophone West and Central Africa.
The Bank Group will contribute €4.5 million as equity investment and an additional €2 million as a first-loss hedging tranche on behalf of the European Commission under the Boost Africa Programme.
The investment is expected to strengthen early-stage financing for innovative businesses with strong technological and digital components, particularly in French-speaking countries.
Saviu II, the second investment vehicle managed by Saviu Partners, plans to invest between €500,000 and €3 million in about 20 seed-stage or early institutional fundraising start-ups. The fund will primarily target B2B technology-oriented companies with scalable models.
At least 60 per cent of the fund’s commitments will focus on French-speaking countries in West and Central Africa, including Côte d’Ivoire, Cameroon, Benin, Senegal, Togo, Burkina Faso and Mali.
The fund may also co-invest in promising East African technology firms seeking expansion into Francophone markets.
In addition, Saviu II will dedicate a special funding envelope for pre-seed investments, mainly through minority equity stakes, often in collaboration with incubators, venture studios and other ecosystem partners.
Industry observers say the AfDB’s backing is expected to de-risk early-stage investment and crowd in more private capital into Africa’s growing digital economy.
Saviu Partners previously launched Saviu I in 2018 with a capitalization of €10 million.
The first fund invested in 12 start-ups, mainly based in French-speaking West Africa, offering not just funding but hands-on support in business development, recruitment, international expansion and fundraising.
Nigerian Electricity Regulatory Commission (NERC) has ruled in favor of electricity consumers, directing distribution companies (DisCos) to refund ₦20.33 billion in outstanding costs for meters bought under the Meter Asset Provider (MAP) framework.
NERC
Signed on February 27, 2026, by Musiliu Oseni, chairman,NERC and Dafe Akpeneye, commissioner Order No. NERC/2026/025 amends a 2023 directive.
It requires DisCos to disburse the funds via energy credits over 12 months starting March 1, 2026, addressing years of slow refunds.
As of December 31, 2025, DisCos owed this amount due to delays in reimbursing prepaid customers who funded their own meters.
DisCos must automate credits for the full MAP meter cost upon activation, disbursed monthly over 120 months based on the customer’s tariff—credits cannot offset legacy debts.
Prepaid customers will receive a monthly token by the 4th day equivalent to the reimbursement value; for arrears, they’ll get two tokens per month.
Postpaid customers will see a distinct credit line on bills subtracted from totals, with two line items monthly for arrears.
NERC mandates monthly reports on reimbursement values using an approved template, plus dedicated email channels for complaints with resolution status included.
The order aims to end delays, improve notifications, and boost sector trust. DisCos must accelerate arrears recovery over 12 months without further excuses.
This follows NERC’s February 2026 compliance review, amid ongoing power sector challenges highlighted by Power Minister Adebayo Adelabu.
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