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NSIA, IFC To Stake $500m Into Renewable Energy Development In Nigeria

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Nigerian Sovereign Investment Authority (NSIA) in partnership with the International Finance Corporation ( IFC) World Bank’s investment outlet is committing $500 million to renewable energy projects in Nigeria.

NSIA’s intervention in renewable energy is being carried out via its latest outlet – Renewables Investment Platform for Limitless Energy (RIPLE). Under RIPLE, the Authority in conjunction with IFC would be undertaking a pilot initiative located within the Tokarawa Industrial Hub in Kano State

It involves setting up a generation and distribution system to meet 70MW of unsuppressed energy demands of industrial activities, commercial enterprises, and residential customers in an area covering about 9,000 connections.

The project will be extended to other parts of the country in the course of time.

NSIA and IFC signed a formal agreement on renewable energy over the weekend in Abuja. The agreement entails NSIA committing $25 million as a seed investment to the project.

Speaking to reporters at the event sidelines, Managing Director/ Chief Executive Officer of NSIA, Mr Aminu Umar – Sadiq described the moment watershed.

“I think this is a watershed moment for the renewable energy space in Nigeria. We are hoping that this fund we are targeting, about $500 million will focus on renewable energy space in general. The strategy is in three folds.

“The first is around diesel displacement, the second is around franchising in general, and then the third is around the backward integration towards PV manufacturing in Nigeria ”

“Naturally, we start with a proof of consent project with baby steps. However, as always the ambition of the NSIA and the IFC as it relates to this fund, is to scale up; to be able to go large.

“We are hopeful that in the course of time, we’ll begin to feel the impact of projects that we are co-developing as well as co-executing for the benefits of Nigeria and Nigerians”, explained NSIA MD.

Speaking about funds commitment, he said $25 million was pledged by the NSIA as committed capital. The IFC, he added was also co-developing transactions up north by a franchise project of 70 megawatts in Kano state. He estimated the project should be delivered within a space of three to four years.

” There are a number of important considerations within your control and there are also a number out of your control. Typically in executing a large-scale infrastructure project, you are talking about three to four years. We are hopeful we should be able to implement a couple of our initial projects within that time.

“Upon the conclusion, by the time we’ve basically gone very far in implementing our first couple of projects, and we have a proof of consent in terms of the portfolio of projects that we can show external investors, then we’ll embark upon that we looking at about two to two and a half years”, he said.

Sadiq was confident Nigeria will overcome her power challenge.

” We are investors but by the grace of God that is the ambition- to be able to meet our power deficit through the generation of sustainable, renewable energy in Nigeria”.

Speaking in an interview, Mr Dan Craft, IFC Regional Manager ( Africa)  underscored IFC’s interest on the renewable energy project in Nigeria.

“We are pretty much interested in everything you heard in that speech- access, efficiency, security, all on a climate-friendly basis. Our interest in the project is, working with credible partners who are committed to the long term to develop a project on a fully sustainable basis, delivering the most cost-effective power, as clean as possible. It’s all good. This is our interest in the project. We would love to find more partners like NSIA, but they don’t grow on trees”.

” At this early stage, what we’re working on is, development capital to seed the platform. But whenever we do this, it’s with a longer-term investment horizon. We’re not interested in just the upfront seed.

“In fact, if there is no long-term horizon, then we don’t do the first bit either. So what we’re looking at, is enough on a percentage share basis to get the thing moving. And then as more projects enter, the funding will follow.

Essentially, we don’t really have an upper limit for what we would like to finance in this space. Our problem is finding the opportunities to do so, which is why we’re so excited about this”, said IFC Regional Manager.

He said investment in renewable energy isn’t a new terrain as according to him, “We have done a number of renewable energy investments in solar and wind and hydro and transmission and distribution”.

“Like I said when I was speaking, it’s about finding the right way into the market. Bringing any of those solutions off the shelf doesn’t tend to work. This is the first step.

And as far as I know, certainly on the African continent, this is the first one of these we’ve done in terms of a platform”, he said.

 


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Telcos See Biggest Growth Post-COVID – ALTON

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Engr. Gbenga Adebayo, Chairman of the Association of Licensed Telecommunications Operators of Nigeria (ALTON), has said that the telecommunications sector in Nigeria is once again on a strong growth trajectory.

Telcos See Biggest Growth Post-COVID  – ALTON

Engr. Gbenga Adebayo, Chairman, ALTON

Engr. Adebayo stated this over the weekend on the side-lines of the unveiling of Nigeria’s first Digital Museum, an initiative that preserves and showcases the nation’s history and cultural heritage.

He commended IHS Towers for spearheading the project, describing it as another clear demonstration of the industry’s commitment to the Nigerian project. He noted that by investing in the preservation of Nigeria’s past while building the infrastructure of the future, IHS has set a remarkable example of corporate citizenship.

Speaking on the state of the telecoms sector, Engr. Adebayo said: “After addressing sustainability concerns earlier in the year, we are now witnessing significant new investments in the sector: the highest we have seen since before the COVID-19 pandemic. Members of ALTON are optimising networks, building new sites to meet rising capacity demands, upgrading existing infrastructure, and migrating more sites from old radio links to high-speed fibre connections.”

He further noted that Tower Companies (TowerCos) are enhancing security across telecom sites to mitigate against vandalism and theft. “Removable batteries and generators are now fitted with trackers to trace stolen items, and we strongly advise the public to desist from buying equipment suspected to have been stolen from telecom sites,” he cautioned.

Engr. Adebayo also highlighted ongoing capacity development within the sector: “We are training and retraining our workforce to adapt to emerging technologies. The Nigerian Communications Commission (NCC) has set strict service level requirements, and we are committed to not only meeting but surpassing them. Though network optimisation may occasionally cause service disruptions, we appeal to the public for understanding as these efforts will ultimately deliver a much-improved user experience nationwide.”

On industry governance, the ALTON Chairman expressed delight at the inauguration of the new Board of the NCC, chaired by Mr. Idris Olorunimbe.

“We are very excited about the appointment of Mr. Idris. His reputation as a man of excellence precedes him. Working with the competent and visionary Executive Management Team led by the Executive Vice Chairman, Dr. Aminu Maida, and the other Executive Commissioners, we are confident the sector is set on the right path to sustainability and growth. The new Board will strengthen the remarkable progress already achieved.”

Engr. Adebayo further welcomed the rebranding of Emerging Markets Telecommunications Services (EMTS) from 9Mobile to T2, describing it as an important milestone for the industry.

“EMTS is a very important member of ALTON, and we are pleased to see their rebirth as T2. This rebranding enhances investor confidence and underscores the value of collaboration. It assures the public that there are good times ahead for our industry, and we are very excited about what the future holds,” he stated.

Turning to issues of Right of Way (RoW), Engr. Adebayo stressed that investments can only thrive in enabling environments:

“The digital train is moving very fast. States that create hostile conditions for telecom operations risk being left behind. We will not continue to solicit endlessly for cooperation. Where deployment is unwelcome, investments will move to more supportive neighbouring states, and citizens of unfriendly states will inevitably suffer limited connectivity. We urge all state actors to partner with us so that no one is left behind in this rapid transformation.”

On the issue of multiple taxation, Engr. Adebayo commended the Federal Government under the leadership of President Bola Ahmed Tinubu, particularly the Presidential Tax and Fiscal Policy Reform Committee, for its ongoing reforms. Engr. Adebayo described the reforms as a pivotal step toward streamlining Nigeria’s tax system and eliminating the burden of multiple taxation. He highlighted the positive impact on small and medium-sized businesses, noting that the changes will promote entrepreneurship, attract investment, and foster a more business-friendly environment.

“We eagerly await the commencement of the implementation in January 2026. We are confident that the over 56 taxes and levies currently borne by our members across various jurisdictions will soon become a thing of the past.”

Engr. Adebayo concluded by appreciating all industry stakeholders and reaffirming ALTON’s commitment to the Nigeria project:

“The transformation we are witnessing in our sector has not been experienced in recent years. We thank the leadership of the NCC for their commitment, we congratulate and welcome the new Board under the leadership of Mr. Idris Olorunimbe, and we look forward to even greater milestones ahead.

The industry is on the march again, and together, with the support of the public in protecting our critical infrastructure, there is no stopping Nigeria’s telecommunications sector as a driver of national economic stability and growth.”


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NITDA, Bauchi State Partner on Digital Literacy and Skills Framework

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Kashifu Inuwa, CCIE, the Director General of the National Information Technology Development Agency (NITDA), represented by Director of the DG’s Office, Dr. Ayodeji Eniola, who presented an overview of the Digital Literacy for All (DL4ALL) programme at the launching of the Digital Literacy and Skills framework for Bauchi State.
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By James Ishaku

The Bauchi State Government, through the state’s Bureau for ICT and Digital Economy in partnership with the National Information Technology Development Agency (NITDA), has officially launched the Digital Literacy and Skills Framework (DL4ALL Bauchi Initiative), a flagship programme aimed at equipping citizens with essential 21st-century skills and positioning the state as a hub for digital innovation.

Declaring the event open, Bauchi State Governor, Senator Bala Mohammed, described digital literacy as a fundamental right for all citizens. He positioned the initiative as part of a broader vision to prepare youth and civil servants to compete globally, create productive jobs, and address poverty through technology.

“Technology and innovation are the fastest-growing industries in the world,” the Governor said. “With the right skills, people can now create sustainable value from anywhere—even from their own homes. This is how we will empower our youth, strengthen institutions, and enable our entrepreneurs to succeed globally. Beyond digital literacy, we are committed to producing an army of experts in advanced digital skills who will drive innovation and economic diversification.”

The Governor emphasised that the ultimate goal is to create productive jobs, “jobs that provide lasting value, fight poverty, and restore dignity.” He noted that over the last six years, the state has invested heavily in infrastructure to open up the economy and connect the vast potential of its youth to global markets.

Speaking on behalf of NITDA’s Director General, Kashifu Inuwa Abdullahi, the Director of the DG’s Office, Dr. Ayodeji Eniola, commended Bauchi State for “taking a bold step towards ensuring the state is not left behind in the ongoing global digital revolution.”

The DL4ALL Bauchi Initiative aligns with NITDA’s Strategic Roadmap and Action Plan 2.0 as well as the National Digital Literacy Framework (NDLF), which focuses on six core competencies: device and software operation, information and data literacy, digital content creation, communication and collaboration, safety, and problem-solving.

The DL4ALL Initiative is anchored on three strategic programs, firstly, the informal sector program which equips artisans, traders, and other informal workers with practical digital skills. In partnership with the National Youth Service Corps, NITDA has recruited and trained 7,101 Digital Literacy Champions who have already reached over 267,000 Nigerians, with a target of 30 million beneficiaries by 2027.

Secondly the workforce readiness program which provide the public servants, graduates, and job seekers with digital productivity and employability skills. NITDA plans to train five million workers nationwide, collaborating with partners such as Cisco and the Office of the Head of Service.

Lastly, the educational sector program which integrates digital literacy into school curricula. A new Basic Education Digital Skills Curriculum, approved in October 2024, will roll out in September 2025, alongside plans to train 3,600 teachers nationwide.

Inuwa further noted that Nigeria’s greatest resource is its young population. “With Bauchi’s abundant human capital and strategic position in northern Nigeria, the state has enormous potential to become a hub for digital innovation and economic transformation,” he said.

He noted that Nigeria’s greatest resource is its young population. “With Bauchi’s abundant human capital and strategic position in northern Nigeria, the state has enormous potential to become a hub for digital innovation and economic transformation,” he said.

In his remarks, the Director General of the Bauchi State Bureau for ICT and Digital Economy, Malam Hayatudeen Babamaji, said the event was “not just about launching a programme, but about setting a bold agenda for the digital future of Bauchi State.”

He reaffirmed the state’s commitment to becoming a leading high-security digital hub in Northern Nigeria and across the country, creating jobs and generating revenue through technology-driven growth.

He added that Bauchi State has taken a historic step towards building a secure, inclusive, and globally competitive digital economy aimed at bridging the digital skills gap in the state, thus paving way for the creation of jobs and revenue flow for the state.

The event attracted senior government officials, technology leaders, development partners, and members of the State House of Assembly, marking a significant milestone in Bauchi State’s journey towards a secure, inclusive, and globally competitive digital economy.

 


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CAC Delists 247 Firms Over Invalid Registration Claims

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Corporate Affairs Commission (CAC) has announced the removal of 247 companies from its official database, citing improper registration.

In a public notice shared via its official X handle on Friday, the Commission stated that the affected entities were never duly registered as limited liability companies.

According to CAC, the Registered Certificate (RC) numbers allegedly linked to these companies were never assigned to them, rendering their incorporation invalid.

As a result, the Commission has delisted the companies and removed their names and RC numbers from its records.

The CAC urged the general public to disregard any claims suggesting that these companies exist as legal entities or possess any rights or obligations under Nigerian law.

This move is part of the Commission’s ongoing efforts to maintain the integrity of its corporate registry and protect the public from fraudulent business operations.


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