Customize Consent Preferences

We use cookies to help you navigate efficiently and perform certain functions. You will find detailed information about all cookies under each consent category below.

The cookies that are categorized as "Necessary" are stored on your browser as they are essential for enabling the basic functionalities of the site. ... 

Always Active

Necessary cookies are required to enable the basic features of this site, such as providing secure log-in or adjusting your consent preferences. These cookies do not store any personally identifiable data.

No cookies to display.

Functional cookies help perform certain functionalities like sharing the content of the website on social media platforms, collecting feedback, and other third-party features.

No cookies to display.

Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics such as the number of visitors, bounce rate, traffic source, etc.

No cookies to display.

Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.

No cookies to display.

Advertisement cookies are used to provide visitors with customized advertisements based on the pages you visited previously and to analyze the effectiveness of the ad campaigns.

No cookies to display.

Connect with us

News

IFC Invests $5m in Husk Nigeria to Build 108 Solar Mini Grids

Published

on

L-r: Ethiopis Tafara, Regional Vice President for Africa, International Finance Corporation (IFC), and Olu Aruike, Country Director, Husk Power Systems, Nigeria during the signing of a $5m investment meant to expand access to reliable, renewable energy in Nigeria through IFC’s $250m DARES platform in Abidjan, Cote d'Ivoire
Kindly share this post

Husk Power Energy Systems Nigeria Ltd (Husk Nigeria), a subsidiary of solar mini-grid operator Husk Power Systems Inc., has received a $5 million investment from The International Finance Corp. (IFC), a member of the World Bank Group, with the support of the Government of Canada.

IFC Invests $5m in Husk Nigeria to Build 108 Solar Mini Grids

L-r: Ethiopis Tafara, Regional Vice President for Africa, International Finance Corporation (IFC), and Olu Aruike, Country Director, Husk Power Systems, Nigeria during the signing of a $5m investment meant to expand access to reliable, renewable energy in Nigeria through IFC’s $250m DARES platform in Abidjan, Cote d’Ivoire

The financing will support the rollout of Husk’s portfolio of solar hybrid mini grids in Northern Nigeria, helping address one of the country’s most urgent development challenges: access to electricity.

It marks the first investment under the IFC Distributed Access through Renewable Energy Scale-up (DARES) Platform, a $200 million debt facility approved in November 2024 to catalyze private sector solutions across West and Central Africa.

The DARES Platform complements the World Bank-financed Nigeria DARES Project, a $750 million initiative launched in December 2023 and implemented by Nigeria’s Rural Electrification Agency.

Together, these efforts aim to provide over 17.5 million Nigerians with new or improved electricity access through decentralized renewable energy (DRE) systems.

 

IFC’s financing package will enable Husk to develop and operate up to 108 mini-grid sites, resulting in around 28,750 new electricity connections and delivering clean, affordable energy to around 115,000 people and businesses.

The total project cost is estimated at $25 million. IFC’s $5 million package includes a $2.5 million senior loan from its own account and a $2.5 million concessional subordinated loan from the Canada-IFC Renewable Energy Program for Africa.

The facility is structured as a revolving loan, allowing Husk to repay and redraw funds multiple times during the project’s implementation.

“The DARES Platform is an innovative approach to tackling one of Africa’s most pressing challenges—energy access. By partnering with Husk, a leading renewable energy developer globally, through the first project under the DARES Platform, we are not only addressing the immediate electricity needs of underserved communities in Nigeria but also laying the foundation for a scalable model that can be replicated across the continent,” said Ethiopis Tafara, regional vice president of Africa, IFC.

“This innovative debt facility is exactly what the minigrid industry needs to scale — blended, long-term and affordable capital,” said  Manoj Sinha, Husk co-founder and CEO.

“Access to working capital is critical for sustained and rapid growth. Adding 108 new communities to our minigrid portfolio with IFC support is an important step toward our goal of deploying at least 250MW of decentralized renewable energy projects in Nigeria.” said Olu Aruike, Manager, Husk Nigeria.

 

 


Kindly share this post

Nigeria CommunicationsWeek believes that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. So since 2007, we have devoted our energy to independent reportage of technology and how they affect lives.

News

HCSF Describes Galaxy Backbone as a Strategic Partner in Civil Service Digitalization Reforms

Published

on

Kindly share this post

In a significant move towards accelerating the Federal Government’s digital transformation agenda, the Head of the Civil Service of the Federation (HCSF), Mrs. Didi Esther Walson-Jack, paid a strategic working visit to Galaxy Backbone (GBB) Limited, Nigeria’s foremost ICT infrastructure and shared services provider.

The visit, which took place at GBB’s National Shared Services Centre (NSSC) and Corporate Headquarters in Abuja, forms part of the HCSF’s efforts to deepen collaboration and assess the technological infrastructure supporting the government’s ongoing digitalisation reforms across Ministries, Departments, and Agencies (MDAs).

Accompanied by the Permanent Secretary of the Federal Ministry of Communications, Innovation and Digital Economy (FMCIDE), Mr. Adeladan Rafi’u Olarinre, and a delegation of Permanent Secretaries and Directors from the Office of the Head of the Civil Service, the visit featured an extensive tour of GBB’s cutting-edge Digital Infrastructure facilities. These included its Network Operations Centre (NOC), Security Operations Centre (SOC), and Uptime Institute Certified Tier III Data Centre; all built to ensure a secure, scalable, and sovereign digital infrastructure for Nigeria’s public sector.

In his welcome address, Mr. Adeladan Rafi’u Olarinre described Galaxy Backbone as a critical institution under the supervision of FMCIDE, tasked with providing the nation’s core digital infrastructure and shared ICT services. “Today’s visit is an important opportunity to showcase the significant progress GBB has made in building the infrastructure necessary for a truly digital government,” he said.

“I believe this engagement will foster stronger alignment and collaboration between MDAs and GBB as we move towards a more connected and efficient public service.”

The Managing Director/CEO of Galaxy Backbone, Professor Ibrahim A. Adeyanju, expressed appreciation for the visit, noting its alignment with GBB’s mandate to support Nigeria’s digital transformation goals.

“A visit of this nature by the Head of the Civil Service is highly symbolic,” he remarked. “It reinforces the central role that the Civil Service plays in national development and highlights the importance of strategic ICT infrastructure in driving effective governance.”

He went on to emphasize that GBB’s mission to design, build, and manage Nigeria’s digital infrastructure aligns seamlessly with the Civil Service’s digital reform agenda.

“Our platforms; including the 1Government Cloud, GovMail, and our extensive fibre optic network present in 28 states, are designed to support a digitally enabled, secure, and efficient government,” Prof. Adeyanju added.

He also called for greater collaboration with the Office of the Head of Service to drive the adoption of GBB’s infrastructure, particularly the fibre optic connectivity already terminated at Federal Secretariat buildings across 28 states of the country. He further appealed for support in expanding Local Area Networks (LANs) in the Federal Capital Territory (FCT) secretariat buildings to integrate more MDAs into the digital ecosystem.

In her remarks, Mrs. Walson-Jack commended the world-class infrastructure and strategic digital solutions developed by Galaxy Backbone, stating that her perception of the agency had been greatly enhanced following the tour.

“This visit has opened my eyes to the enormous potential and capacity that Galaxy Backbone brings to Nigeria’s digital journey,” she said. “I now see GBB not just as an ICT agency, but as a strategic partner in the realisation of our dream to build a modern, agile, and paperless civil service.”

She specifically praised GBB’s support for the “War Room” initiative, the widespread deployment of GovMail — currently serving over 34,000 civil servants, and the agency’s high-speed fibre connectivity provided during the 2025 International Civil Service Week hosted by her office.

Reaffirming her office’s commitment to achieving a fully paperless civil service by December 31, 2025, the Head of Service expressed optimism that this goal is attainable with stronger collaboration and technical support from GBB.

She also highlighted several strategic areas where partnership with GBB is critical, including:

  • Full implementation of the 1Government Cloud to host and manage MDA operations.
  • Adoption of an Enterprise Content Management System (ECMS) to streamline records and workflow automation across MDAs.
  • Synergy between the 1Government Cloud Academy and the Civil Service Academy to enhance capacity development.
  • Training and onboarding of civil servants on innovative tools such as Service-Wise GPT – Nigeria’s AI-powered platform designed to transform public service delivery.

Mr. Mohammed Ibrahim Sani, Executive Director of Finance and Corporate Services at GBB, in his vote of thanks, expressed deep gratitude to the Head of Service and her delegation for taking the time to visit and engage with the team. He reiterated GBB’s unwavering commitment to partnering with all stakeholders to deliver inclusive, resilient, and forward-looking digital solutions for the Federal Government.

 


Kindly share this post
Continue Reading

News

Festive Seasons Trigger 400% Spike in Livestock Prices Across Nigeria’s North East — Moniepoint Study

Published

on

Kindly share this post

A new study by Moniepoint Inc., Africa’s leading financial technology company, has revealed that livestock prices in Nigeria’s North East markets surge by up to 400% during festive seasons, driven by high demand from cities like Lagos, Port Harcourt, and Onitsha.

The report, which focuses on informal market dynamics in Borno State, shows that traders at Kasuwan Shanu in Gamboru dispatch an average of 50 trucks daily during peak periods such as Eid al-Adha and Christmas, with goat prices rising by 400–470% and rams by over 230%.

Beyond seasonal spikes, the study highlights a shift toward investment-minded trading, where livestock is raised in advance to boost resale value. This approach is helping traders build more stable and profitable businesses, despite the region’s history of conflict and economic volatility.

Key findings include:

  • 51.2% of traders source goods from Maiduguri, reinforcing its role in Nigeria’s food supply chain
  • 45% of traders now accept digital payments, with mobile transfers and POS usage rising sharply since the 2023 cash crunch
  • Informal credit and trust-based transactions remain dominant, often conducted via phone calls and voice notes, without formal contracts

Moniepoint CEO Tosin Eniolorunda said the company’s tools are helping bridge long-standing gaps in access to finance: “This shift isn’t just tech-enabled — it’s structurally impactful. We’re helping build an economy where everyone can participate.”

The study joins Moniepoint’s growing portfolio of thought leadership on Nigeria’s informal economy, following previous reports on Onitsha Market, community pharmacies, and women-owned businesses.


Kindly share this post
Continue Reading

News

FG Eyes 8,000MW Power Boost in 18 Months with Grid Overhaul

Published

on

Kindly share this post

Federal Government has expressed optimism that improved management of the national power grid by the Nigerian Independent System Operator (NISO) could increase electricity supply to 8,000 megawatts within the next 12 to 18 months.

Speaking at a leadership retreat to onboard NISO’s top management in Abuja, the Director General of the Bureau of Public Enterprises (BPE), Mr. Ayodeji Gbeleyi, noted that although Nigeria’s installed generation capacity exceeds 14,000MW, actual daily output has hovered around 5,500MW.

Gbeleyi emphasized that with more efficient grid operations and increased investments in transmission and distribution infrastructure, the power sector is poised for substantial improvement.

“As an independent entity, NISO now carries the critical responsibility of managing the national grid with impartiality and integrity. It must ensure non-discriminatory access, efficient dispatch coordination, and fair market settlements—free from undue influence or conflicts of interest.

“Currently, about 5,500MW of power is being wheeled daily, compared to a nameplate generation capacity of over 14,000MW. With the right investments and enhanced grid resilience, it is realistic to project a 50% increase in supply within 12 to 18 months,” he said.

Gbeleyi also revealed that the Federal Government has secured a $500 million loan from the World Bank to support the upgrade of the distribution infrastructure. Under this initiative, 3.2 million electricity meters will be deployed across Nigeria, with an additional 2 to 3 million meters to be provided through a separate presidential initiative.

Chairman of the NISO Board, Dr. Adesegun Akin-Olugbade, stressed the significance of NISO’s independence following its unbundling from the Transmission Company of Nigeria (TCN).

“NISO is not just a new institution; it represents a new approach—an independent system operator, a neutral market coordinator, and a strategic planning authority. Our responsibilities span real-time grid operations, long-term system planning, and the development of the electricity market.

“These are not peripheral tasks—they are core to national stability. When power fails, everything else suffers: industry, healthcare, education, even security,” he said.

Also speaking, NISO Managing Director/CEO, Engr. Abdu Bello, affirmed that the 8,000MW target is achievable within the projected timeframe.

“We must stay focused, get our internal structures right, and attract private sector investment. This retreat is part of the strategic planning process. With a clear direction and commitment, the goal is within reach,” Bello stated.


Kindly share this post
Continue Reading

Trending