News
NiMET, UNIZIK Sign MoU to Build Weather Station
Nigerian Meteorological Agency and the Nnamdi Azikiwe University have signed a Memorandum of Understanding to build a weather station at the university.
This was according to a statement by NiMet’s General Manager, Public Relations, Muntari Ibrahim, on Friday.
The MoU was signed by the Vice-Chancellor of UNIZIK, Charles Esimone, on behalf of the institution’s governing council, while the DG of NiMet, Charles Anosike, signed on behalf of NiMet at their office headquarters in Abuja on Friday.
Speaking at the signing ceremony, Anosike urged the management of UNIZIK to take leadership in downscaling NiMet’s annually issued Seasonal Climate Prediction to farmers and other users in Anambra state and beyond.
According to the MoU, the collaboration to build a weather station in the university is a big achievement for NiMet as the partnership will ensure that farmers and other users receive timely weather and climate information.
Anosike thanked Esimone for the commitment shown in signing the MoU on behalf of UNIZIK, as it shows the importance the university attaches to weather and climate information.
In his response, Esimone thanked Anosike for the opportunity to collaborate with NiMet.
He said, “I am promising NiMet that UNIZIK will play its part in fulfilling the terms of the MoU which is a landmark accomplishment. Not only for our local farmers, but our students, lecturers and researchers will benefit from this relationship, especially in the areas of information on climate prediction and climate change”.
“UNIZIK will match the financial commitments of NiMet to the project by two because weather and climate information is critical to economic development.”
“We will also involve our Centre for Community Development with this project so that we can improve farmer education. NiMet should also consider training relevant UNIZIK staff to help sustain the terms of the MoU”, he noted.
EFCC
The African Development Bank Group last week approved an investment of €6.5 million in the Saviu II fund in order to support technology start-ups through their seed phase and first institutional fundraising, mainly in French-speaking Central and West Africa.
The Bank will invest €4.5 million as equity and €2 million as a first-loss hedging tranche on behalf of the European Commission, under the Boost Africa Programme.
This participation of the Bank Group will enable the Saviu II fund to give priority to companies with a strong technological or digital component.
Saviu II, the second investment vehicle of Saviu Partners, plans to invest between €500,000 and €3 million in about 20 technology or technology-oriented business-to-business start-ups in the seed phase or carrying out first institutional fundraising.
The Saviu II venture capital fund aims to make at least 60% of its commitments in the French-speaking countries of West and Central Africa: Côte d ‘Ivoire, Cameroon, Benin, Senegal, Togo, Burkina Faso and Mali.
The fund can also co-invest in promising technology companies in East Africa that have a strong team and business model, and whose strategy includes entering the market in French-speaking West African countries and establishing a strong presence there.
In addition, the fund will devote a dedicated envelope to pre-seed investments, focusing on minority equity investments, usually in co-investment with studios, incubators or other ecosystem partners.
Nigerian Government has signed a $1.3 billion Memorandum of Understanding (MoU) with Africa Finance Corporation (AFC) via the Solid Minerals Development Fund (SMDF) to fund an alumina refinery, national geoscience mapping, and a strategic investment vehicle for mining growth.
Special Assistant to the Minister of Solid Minerals Development, Segun Tomori, said the refinery will process one million tonnes of bauxite yearly using a modern Bayer process, powered by an on-site gas-fired cogeneration plant.
Minister Dele Alake called it a transformative milestone boosting GDP, aligning with reforms that improve investment climate, regulations, and licensing to attract private capital. He directed agencies to fast-track permits.
The 20-year project at 95% utilization eyes 19 million tonnes total output, $1.2 billion annual GDP addition, $25 billion economic impact, and $8 billion forex earnings, per feasibility studies.
SMDF Executive Secretary Fatima Shinkafi termed it the agency’s biggest funding deal, supporting value-addition policy.
The partnership extends to geoscience mapping for mineral data, de-risking exploration, and a joint vehicle for mining assets.
Permanent Secretary Engr. Farouk Yabo praised the reforms. Shinkafi signed for government; AFC’s Franklin Edochie for the corporation, witnessed by AFC CEO Samaila Zubairu.
Tomori positioned it as Nigeria’s largest private mining investment and FDI magnet.
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