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Major African Power Projects Key Focus Of London Summit

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Prof. Chinedu Nebo, minister of Power
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Africa’s power deficit is a major constraint on economic growth and social development; The Global African Investment Summit (‘TGAIS’) in London will bring together African governments and the international finance community to tackle this critical issue.

With government delegations presenting bankable investment projects to global investors, TGAIS will help secure funding needed to transform Africa’s economies from some of the world’s largest financial institutions and investment funds.

Excluding South Africa, per capita consumption of electricity in sub-Saharan Africa is 10 KWh (kilowatt hours) per month, in high income countries this figure is almost 1000 KWh.

In some countries in Africa, backup generators supply up to half total generation capacity, explaining, in part, why electricity is more expensive on the continent than anywhere else in the world; up to three times as much as those in the United States or Europe.

This is a social disaster, reducing Africa’s ability to create jobs or industrialise its economies.   At a basic livelihoods level, there are 600 million people on the continent with no regular access to power, relying solely on charcoal, wood and biomass for cooking.

To achieve the target of universal access to electricity in Africa by 2030, the International Energy Agency states that sub-Saharan Africa will need more than $300 billion in investment.

For international investors, this demand is well recognised, but identifying specific projects that have the right legal, regulatory and political support and will bring returns on investment is not straightforward.

All these aspects are critical for financiers to see a project as investable.

TGAIS is working with African governments to bring those bankable projects to the international market.

Organised by Chief Olusegun Obasanjo, former Nigerian President and led by the Presidents of Rwanda, Uganda, Ghana, Tanzania and Togo, TGAIS will present major power projects from across the continent including green-field gas, solar and wind plants as well as national distribution networks and privatisation opportunities.

One such project is the Grand Inga Dam, a project that – if realised – will revolutionise the supply of power to Africa by providing as much as 40,000 megawatts to southern Africa.

The electricity will be far cheaper than current supply and, critically, comes from a renewable source.  The energy produced by just this one dam could power homes and businesses in the Democratic Republic of Congo, South Africa and possible other countries in the region.

The dam already has World Bank support through technical assistance funds to help make the project bankable for investors.

Claver Gatete, Rwandan minister of Finance and Economic Planning was keen to highlight the significance of being able to meet international investors at TGAIS, “It’s great that our government gets to go to events like The Global African Investment Summit in London to profile investment opportunities in Rwanda.  What we want investors to know is that we need their investment and that we provide the right incentives and have created one of the best business environments that can be found anywhere in the world.”

Amama Mbabazi, Ugandan Prime Minister highlighted the significance of finding the right investors for his country; “we have a number of important projects that will help the Ugandan economy grow substantially.  Finding the best investors for those projects is crucial to knowing that they will be undertaken in a way that creates shared value and promotes long-term sustainability.”

TGAIS also receives strong support from the UK’s government, with Minister for Africa Mark Simmonds hosting a gala reception at the Foreign and Commonwealth Office for all participants.

Senior African government delegates will also be invited to Buckingham Palace for a VIP luncheon on the opening day.

The inaugural Global African Investment Summit, run in partnership with four African state houses, is the only platform that brings together the public and private sectors to discuss specific transactions, access to finance, and bankable projects in Sub Saharan Africa requiring investment and technology transfer.

African Presidents will travel to the event with Finance ministers, sector specific ministers and CEOs from state owned enterprises to address and hear from the global financial markets, project implementers, consultants and law firms about co-financing and executing their most pressing projects in agribusiness, natural resources, power, and transport infrastructure.


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Senate Gives Tinubu Nod to Borrow Fresh $6Bn

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Senate on Tuesday approved the fresh $6 billion loan request forwarded to the lawmakers by President Bola Tinubu.

Senate Gives Tinubu Nod to Borrow Fresh $6Bn

Lawmakers approved the fresh loan on the same date the request letter was read by Godswill Akpabio, senate president.

The Senate approved the loans following the presentation and consideration of the report by Senator Aliyu Wamakko, chairman, Senate Committee on Local and Foreign Debts.

President Tinubu had written to the Senate seeking approval to borrow a total of $6 billion to finance key government projects and address budgetary gaps.

The requests were contained in two separate letters addressed to Godswill Akpabio, president of the Senate, and read during Tuesday’s plenary.

In the first letter, the President requested approval to obtain a $5 billion loan from Abu Dhabi Bank.

According to the President, the facility will be used to cover the nation’s budget deficit and support debt financing, among other fiscal obligations.

The request forms part of the Federal Government’s efforts to stabilise public finances and sustain ongoing government programmes.

In a separate communication, Tinubu also sought approval to secure a $1 billion UK Export Finance loan facility from London Citi Bank.

The loan is intended for the rehabilitation of key port infrastructure, including the Lagos Port Complex and Tin Can Island Port.

The President said the project aims to address critical infrastructure deficiencies in the country’s maritime sector

According to him, the rehabilitation will help improve efficiency, enhance safety standards, and support Nigeria’s efforts to diversify its economy beyond oil.

He added that the initiative would also strengthen Nigeria’s position as a regional trade hub.

Both requests have now been considered and approved by the Upper Legislative Chamber.


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FG Earmarks $2Bn to Launch 2 Satellites in 2028, 2029

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Federal government has fixed 2028 and 2029 for the launch of two communication satellites, NIGCOMSAT-2A and NIGCOMSAT-2B, as part of efforts to strengthen security and expand digital connectivity.

FG Earmarks $2Bn to Launch 2 Satellites in 2028, 2029

The government will be committing over $22 billion on the ambitious space-led growth agenda focused on new satellite launches, increased industry revenue and expanded broadband access in underserved communities.

At the opening of the 2026 Nigerian Satellite Week in Abuja, Dr Bosun Tijani, minister of Communications, Innovation and Digital Economy, confirmed the government’s approval for the acquisition of two new satellites—NigComSat 2A and 2B, describing the move as a “defining commitment” to national development, digital sovereignty and economic competitiveness.

Also, Mrs Jane Nkechi Egerton-Idehen, managing director of Nigerian Communications Satellite Limited (NigComSat), noted that the projects have moved beyond procurement to the execution stage.

She said the satellites are designed to enhance intelligence gathering, surveillance, and connectivity across Nigeria and neighbouring countries, particularly in support of security operations.

“For 2A and 2B, we have started the process. We have closed the tender and are now back into the financing and implementation stage. 2A is built to come up in 2028, and 2B for 2029.

“When they are up and running, they are expected to provide security within the borders and neighbouring countries. They will support the security agencies because data collection and intelligence in real time is important. Satellites like communication satellites allow that, irrespective of where they are,” she said.

On his part, Tijani, said the satellite programme forms part of a broader government strategy to deepen digital infrastructure nationwide.

According to him, the initiative complements ongoing investments in fibre-optic expansion and telecommunications infrastructure, while extending connectivity beyond Nigeria’s borders.

“The President’s approval of NIGCOMSAT-2A and 2B demonstrates a clear commitment to building the future. These satellites will enhance security, connect remote communities, and extend our fibre-optic network into neighbouring countries.

“Some of these neighbouring countries pay up to ten times more for internet capacity than Lagos. Extending our fibre network will not only improve connectivity but also enhance border security and regional collaboration.

“Satellite technology affects everything, from how a child in a rural community accesses the internet to how farmers make critical decisions and how businesses operate across distance,” he said.

 


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FG Launches CLHEEAN to Streamline Access to Government Services

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Federal government has announced the launch of CLHEEAN, an artificial intelligence-powered mobile application designed to improve interactions between citizens and public institutions.

FG Launches CLHEEAN to Streamline Access to Government Services

It is also a civic education and community engagement app.

Developed under the National Orientation Agency (NOA), the platform functions as a virtual assistant accessible via mobile devices.

It allows users to access information on public policies, ask questions, and interact directly with government services.

The app includes features such as instant messaging, voice recognition, and multilingual support, including several local languages, to reach a wider audience.

With CLHEEAN, users can also submit feedback, report concerns, and take part in discussions on public policies. The approach is intended to strengthen citizen participation and improve communication between the government and the public.

Lanre Issa-Onilu, director general of the NOA, said the initiative addresses a long-standing gap between citizens seeking to be heard and systems that do not always respond effectively, adding that the platform marks a step toward closing that gap.

The launch comes as Nigeria continues to face challenges in citizen engagement and the dissemination of public information.

By leveraging artificial intelligence, authorities aim to make public services more accessible while improving transparency and responsiveness.

The initiative also reflects a broader trend across Africa, where governments are increasingly exploring the use of AI to modernize public services and strengthen ties with citizens.


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