E-Financial
Schneider Electric’s EcoStruxure™ Platform Teams Up with AVEVA’s Digital Transformation Solutions Proven to Drive Industrial Sustainability Initiatives
Schneider Electric, the leader in the digital transformation of energy management and automation, and AVEVA, a global leader in industrial software, driving digital transformation and sustainability, announced today that their combined technology offerings are supporting the sustainability initiatives of mining companies in four key pillars: energy efficiency, yield improvement, low greenhouse emission technology adoption, and new green processes.
Global decarbonizationis heavily reliant on the sustainable production of minerals and commodities. A thriving and healthy mining and metals sector is crucial for the global economy and to support the innovation of new technologies and materials needed for climate change reduction, environment protection, and the circular economy.
Schneider Electric and AVEVA are providing the tools required by organizations to make informed decisions that will empower people across the mining, minerals, and metals value chains to be more strategic in their choices based on sound advice with sustainability in mind.
They are assisting operators and managers in these choices leaving these organizations well positioned to tackle some of the challenges associated with adopting sustainable practices, potentially resulting in reduced operating costs and thus providing the rare ability of appeasing all stakeholders.
According to an IDC Technology Spotlight, sponsored by AVEVA and Schneider Electric, Transitioning to Sustainable Mining, Minerals and Metals Practices, the top three market pressures driving the sustainability agendas of mining and metals organizations are:
- Need to improve brand equity
- Reduce the risk of an adverse event
- Ensure compliance with current and future regulations
Ben Kirkwood, Senior Research Manager, IDC Energy Insights – WW Mining.
“Technology has a critical role to play in supporting mining companies,” said Ben Kirkwood, Senior Research Manager, IDC Energy Insights – WW Mining.
“Efforts to hitsustainability targets and gain greater visibility and control over operations will enable corporate insight and action relating to energy, water usage, and management of the operational environment. IDC’s global analysis of the revenue growth and profitability of industrial companiesshows that those with a committed and ongoing sustainability-based strategy combined with a long-term, funded, digital transformation agenda considerablyoutperformtheir competitors.”
Digitalization Underpins Mining and Metals Sustainability
The IDC Technology Spotlightalso reinforces the fact that as the industry continues to experience backlash from its perceived stagnant position on sustainability, platforms with added analytics are enabling improved operational efficiencies while enhancing the visibility of the changes being made.
David Willick, VP North America, Mining, Minerals and Metals Segment, Schneider Electric
“Digitally integrated operations can address key areas of an organization’s sustainability agenda by combining power and process intelligence and controls,” said David Willick, VP North America, Mining, Minerals and Metals Segment, Schneider Electric.
“Digitalization is a critical evolution for the resources industry, and Schneider Electric and AVEVA are uniquely qualified to help. We are experts at marshalling the power of connected systems and human insight to bring operational performance to its highest level.Together, we have won the trust of the world’s leading companies with thousands of implementations onsite and in the cloud. Today our joint customers can benefit from ourshared customer-centric innovation culture, unmatched R&D capabilities,and extensive sector-specific expertise.”
Martin Provencher, Industry Principal, Mining, Metals and Materials, AVEVA.
“Although the benefits of digital transformation are crystal clear, the mining industry has thus far been limited by legacy infrastructure, data inadequacies, and piecemeal optimization programs,” said Martin Provencher, Industry Principal, Mining, Metals and Materials, AVEVA.
“Increasingly virulent cyberattacks and a growing mandate for decarbonized minerals have further emphasized the importance of having high data availability and embracing a secure, cloud-first approach to visualize and contextualize enterprise-wide processes across global operations. The combination of Schneider Electric’s energy management solutions, automation systems and services, and AVEVA’s Digital Mining Transformation solutions enableour customers to transform conventional mining operations into intelligent, resilient and sustainable undertakings.”
Corporate Knights recently named Schneider Electricthe world’s most sustainable company. According to the IDC Technology Spotlight, Schneider Electric’s EcoStruxure platform combined with AVEVA’s Digital Mining and Metals Transformation solutions can provide the operational and organizational insight required to make sustainable operations and improved decisions through the collection and analysis of data.
The partner companies aim to decarbonize the mining, minerals and metals value chains through the provision of an industrial IoT platform with technology and software elements supporting the capability for energy management and
Debt Management Office (DMO) said the federal government spent N3.14 trillion on servicing its domestic debt in the first quarter of 2026.
The office disclosed the data in its latest domestic debt service report for Q1 2026.
The figure comprises N2.97 trillion in interest payments and N169.68 billion in principal repayments.
The agency said in January, the government spent N741.82 billion on domestic debt service, while the figure rose to N967.67 billion in February.
Debt service increased further to N1.43 trillion in March, bringing the total for the quarter to N3.14 trillion.
The March figure was 47.7 percent higher than the N967.67 billion recorded in February and 92.7 percent above the N741.82 billion spent in January.
Also, the debt office said interest payments accounted for about 94.6 percent of total domestic debt service during the quarter.
The DMO said treasury bills accounted for the largest share of interest payments at N1 trillion, while interest on federal government bonds stood at N1.96 trillion.
The agency said the government also paid N4.24 billion in interest on FGN savings bonds during the period.
The DMO said the principal component of the debt service comprised N169.68 billion in repayments on local-denominated promissory notes.
Overall, the government’s domestic debt service rose sharply through the quarter, with March accounting for almost half of the N3.14 trillion spent between January and March.
Nigeria’s public debt increased by 0.01 percent to N159.35 trillion in the Q1 of 2026.
Interswitch Group, an integrated digital payments and commerce company, together with global banking software provider, Temenos have reassured the Central Bank of Nigeria (CBN) of their commitment to advancing the modernisation of Nigeria’s financial services sector.
Interswitch and Temenos had earlier in June announced a strategic partnership across Africa which would see Interswitch leverage Temenos solutions – across core banking, digital banking, payments, wealth management and financial crime mitigation – to provide cloud-hosted and on-premises managed services to banks and financial institutions across Africa.
This will enable institutions to progressively transform their banking platform and evolve to more customer-centric business models. The service will initially support key African markets including Nigeria, Ghana, Côte d’Ivoire, Kenya and others.
The recent regulatory visit to CBN headquarters in Abuja, was led by the Founder and Group Chief Executive Officer of Interswitch, Mitchell Elegbe, and Managing Director for the Middle East and Africa (MEA) at Temenos, Santhosh Rao, as part of the ongoing efforts by both organisations to deepen collaboration with Central Banks across the African region on the future of digital banking infrastructure across Nigeria and key African markets.
Discussions centred on the strategic partnership between Interswitch and Temenos, and how it will enable Nigerian financial institutions to progressively modernise their core banking platforms and transition to more customer-centric business models.
The two organisations also explored opportunities to work with the CBN in charting new frontiers in Central Bank Digital Currency (CBDC) innovation, leveraging resilient financial networks and decentralised application platforms to support the issuance and management of CBDCs.
Commenting on the visit, Elegbesaid: “Our partnership as Interswitch with Temenos and our continued engagement with the Central Bank of Nigeria reflect a shared commitment to building banking infrastructure that is resilient, inclusive, and ready for the next phase of Africa’s financial evolution.
We are proud to be at the table as these conversations shape the future of digital banking technology and innovation across key Africa markets…”
The Bank of Industry, through BOI Financing SPV Plc, has opened subscriptions for its inaugural Series 1 Fixed Rate Bond worth up to N250bn under its $1bn multi-currency instruments programme, seeking to raise long-term capital to finance businesses across Nigeria’s priority sectors.
The offer, which opened on 5 August and closes on 11 August, is being arranged by Chapel Hill Denham as the lead issuing house. The five-year bond is priced within a yield range of 17.35 per cent to 17.50 per cent and will be listed on the FMDQ Securities Exchange.
According to the offer document, proceeds from the issuance will be deployed to finance eligible businesses and projects across sectors, including agriculture and food processing, healthcare, engineering and technology, renewable energy, petrochemicals, oil and gas, creative industries and solid minerals, in line with BOI’s development finance mandate.
The lender said the financing is expected to improve access to medium and long-term funding for Nigerian enterprises, expand productive capacity, create and preserve jobs, deepen local value addition, support import substitution, boost exports and strengthen domestic value chains.
BOI, Nigeria’s foremost development finance institution, said it has provided funding to more than one million businesses across the country and disbursed over N1.27tn between 2023 and 2025. The institution operates across 34 states and the Federal Capital Territory and is jointly owned by the Ministry of Finance Incorporated and the Central Bank of Nigeria.
The bank also highlighted its financial performance, reporting a 36 per cent compound annual growth rate in gross earnings between 2021 and 2025.
Interest income rose 64 per cent to N884bn in 2025 from N538bn in the previous year, while its capital adequacy ratio stood at 39 per cent, nearly four times the regulatory minimum of 10 per cent. Its non-performing loan ratio was 1.7 per cent, below the CBN’s prudential limit of five per cent.
The bond has been assigned AAA ratings by Agusto & Co. and Intelligence Africa, reflecting the issuer’s strong capitalization, profitability, liquidity and ownership structure.
The issuance is open to institutional and qualified investors with a minimum subscription of N5m and additional investments in multiples of N1m. Interest will be paid semi-annually at a fixed rate, while principal repayment will begin in the third year through equal semi-annual amortised instalments until maturity in 2031.
The bond is also exempt from tax, making it an attractive investment option for investors seeking stable returns amid expectations of declining interest rates.
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