General News
Telcos Can Reduce Cost with Synthetic Fuel –Edward

Ifeanyi Edward is the chief executive officer of Proxynet Communications. He has over a decade experience in the information technology industry especially in the technical and sale service sector of the industry. He joined Proxynet five years ago and has helped the company establish its footprint in several African countries such as Nigeria and South Africa. He spoke to chike onwuegbuchi on new product DieslFix which the company has just introduced into the market.
Dieselfix
Proxynet Communications is the authorized sole distributor of DieselFix, a product purely made to reduce the diesel consumption of the generators. DieselFix is owned by Supafuel based in Geneva, Switzerland while the DieselFix factory is in Johannesburg, South Africa. Our key focus is to save fuel, we want to save the engine, we want to save the environment. Today in Nigeria, every sector, the financial services sector, the telecom sector, manufacturing sector, hospitality sector, among others uses thousands of litres of diesel, everyday, every month to keep their businesses running because of the peculiarity of the Nigerian infrastructure from the power perspective.
Dieselfix is not a new product as it were to Nigeria; different companies are already using it. Tests have been done in Nigeria with some telcos and tests are being done presently with some companies in the hospitality industry. We are confident that when we put this product in any generator that runs on diesel or fuel as it were, we are 100 percent sure that it will give the owner a minimum of 10 percent savings on the cost of each litre of diesel such generator uses. The simple chemistry there is that diesel naturally absolves water and diesel naturally contains water, our solution reacts with the water in any diesel by converting it to fuel soluble lubricant.
Environmental Hazards of the Solution
That is why we say we are saving the environment. With the test conducted today in Israel, nearly six months test with the university, it will reduce the air emission by over 30 percent. For example, hydrocarbons and carbon monoxide will all come down by 30 percent and the suit that causes cancer will come down by 30 percent. We are running a similar test in China. A litre of Dieselfix is used in every 4,000 litres of diesel used in any generator to ensure a 10 percent reduction in diesel consumption while maintaining and ensuring that you have lesser maintenance cost of your engine because it burns off the carbon dioxide.
Our starting point is quite different from others, in Nigeria’s case we have very little refining credibility, so the crude oil is exported out and the finished product is brought back to the country by sea and in that process after the fuel has been produced and brought back to Nigeria, the handling also is very poor in many cases accumulates a lot of water. What we have done is that we have tested some of the diesel here in the country to confirm that fuel have a lot of water in this country. Clean diesel should be clear, clean and conform to specification. We are saying if you have bad diesel and you put it into your engine, you can have bad results because water should not be in the diesel to start off with, because the minute there is water, it is off the specification of diesel. That water touches your engine in a few ways because it has no lubricity and will damage your fuel system; your fuel pump and fuel injectors will be damaged by the water. A lot of the companies that we spoke to said they change injectors all the time and injectors are very expensive parts of an engine. A modern engine in fact is not very tolerant of water because it is extremely high compression as it work under extreme pressure and water is a definite No. Also, when you have the water and the diesel together, water has no power; it does not combust, so, you mixing it into your fuel to generate power is bad. When water is in diesel you have to spend more money buying more diesel for the same amount of power. Any engineer will understand that water should not be in the engine, it is bad for the engine, and it will destroy the engine and will raise operating cost in terms of maintenance and spending more on diesel. It will also increase your capital expenditure because when your generator packs up, you have to buy a new one. For a telco for example, when a generator goes down because of water related problems, that BTS cannot generate traffic so you actually loose a lot of revenue. In a hotel, when your generator goes down, guests will not stay there because there is no light. We understand the Nigerian fuel on a day to day basis and our solution is designed to treat that. But however, we work throughout Africa, it is not unique to Nigeria but to a lesser degree in more developed countries because the control is better.
How much Telcos Can Save in A Year Using The Solution
We guarantee a minimum of 10 percent savings. This product is different in that, it is not an additive. It is a synthetic fuel, our product conforms to diesel specification and why is that important? It is very important because at the end of the day generators in Nigeria are made by somebody. For example, Caterpillar published a worldwide book on bad fuel, stating what they expect their customers to do. If you as a customer is putting a fuel like that into your engine, your warranty expires, if Caterpillar finds out that this is the kind of fuel you use. I can show you in reality that this is what is happening. A fuel specification from Caterpillar states that the kind of fuel you use must have no water, a minimum amount of this and that. What we have done as a company is to map out a fuel specification for Nigeria and the government also said for the fuel we use in Nigeria, it is going to conform to certain specifications. The certification of our product which confirm our products is 100 percent diesel means you can take our product if you want to, fill up your diesel engine and it runs, you cannot do that with any other product. This means the end user will have no warranty issue which is extremely important. Ours is a synthetic diesel, it is a chemical diesel, it is not biodiesel. Biodiesel is when you take plants and turn it into diesel. We are a chemical diesel because diesel is carbon and hydrogen. Our diesel is designed to do two things; one, it converts the water in the diesel into a fuel soluble lubricant; two, it is a very competent carbon solvent because as the engine works with a typical Nigerian fuel, there is a lot of carbon. When you look at any generator, when it is started, a thick fog of smoke pops up. That is the unburnt fuel that clogs up the engine, making it less efficient. At the same time the same solvent dissolves all the bacteria growing in the diesel. So, our product cleans the fuel and the engine to give maximum combustion for minimum emission, thereby reducing the cost of maintenance.
Support
In a short while, everything working out the way we plan, we will have a mini plant here because it is not produced locally, by then we will have everything necessary to support the product. In terms of support, we have a 14 to 17 man technical team in the country regularly to support the product and carry out skill transfer.
Target Market
The target market is all companies in Nigeria, because everybody runs their generator on diesel. It will make a lot of sense for even the middle scale industries, financial services sector, manufacturing companies, telecommunication companies and hospitality sector. I am sure you will recognize that manufacturing companies especially the textile industries packed up because of diesel, they could not afford to run on diesel for 24 hours.
Proskool Software
Proskool software is a complete web enabled database driven school management software that manages both students and staff records to simplify school management procedures. The software is designed to ensure better data flow between school management team, students, parents and teachers. It is geared towards the nursery, primary and secondary schools. Proskool seamlessly manages school administration, students’ billings, process student’s results and staff payroll.
With an Internet connection in place, the school management team enjoy the flexibility of logging into the software from anywhere in the world. They can have an overview of all students registered per term, have first hand detailed information on students’ school fees payment status, know the amount owed the school with an idea of due payment dates without consulting the accountant.
Proskool captures students and parents’ biodata to enable the school send messages to parents on occasions like birthdays or other events to foster harmonious relationship between the school and parents. Students’ report sheets can also be generated and e-mailed to parents and guardians to ensure proper receipts of report cards by parents.
Teachers can as well see the payment status of each student in their class to initiate a proper follow up and can automatically compute students’ cumulative point after each test and examination.
Proskool was developed using PHP server-side scripting, MySQL and Apache web server and is compliant with all web browser. Its uniqueness lies in its ability to simplify task and make records more useful.
General News
CRMI Warns of Risks, Sees Gains in UAE Exit from OPEC

Chartered Risk Management Institute of Nigeria (CRMI) has highlighted potential benefits for Nigeria such as increased production flexibility, expanded market share, and improved revenue prospects following the United Arab Emirates’ decision to exit the Organisation of the Petroleum Exporting Countries (OPEC).

However, the Institute cautioned that these opportunities come with significant risks, including exposure to price volatility, reduced protection from coordinated supply management, intensified competition, and mounting fiscal pressures.
In a statement signed by Victor Olannye, registrar/chief executive officer, described the development as a major shift in global oil governance, with far-reaching implications for market stability and international energy dynamics.
Olannye noted that the move could trigger increased oil price volatility, heightened geopolitical tensions, and disruptions across global energy supply chains.
He urged corporate organisations, public institutions, financial bodies, and risk professionals to reassess their risk frameworks and strengthen resilience in response to evolving global realities.
He identified key risks to include a potential weakening of OPEC cohesion, oil price instability, geopolitical uncertainty, supply chain disruptions, macroeconomic volatility, and the possibility of further exits by member states.
In line with its mandate to promote sound risk management and support national development, the Institute advised corporate organisations to implement robust risk management frameworks, adopt dynamic hedging strategies, and diversify their business portfolios.
Financial institutions and investors were also urged to reassess energy-related risks, strengthen portfolio diversification, and enhance risk disclosure practices.
CRMI further called on government and policymakers to reinforce fiscal buffers, accelerate economic diversification, and promote the transition to renewable energy.
Individual risk professionals were encouraged to upskill in geopolitical risk analysis and energy economics while developing expertise in scenario planning and predictive analytics.
The Institute emphasised the need for stakeholders to reposition proactively to navigate the evolving geo-economic landscape. It also projected possible scenarios, including fragmentation of global oil governance structures, increased reliance on market-driven pricing mechanisms, and an acceleration of global energy transition efforts.
General News
UK Cracks Down on Russia’s Exploitation of Vulnerable Migrants and Deadly Drone Capability

The UK has announced a raft of new sanctions to curb production of Russian drones and the nefarious networks that are exploiting vulnerable migrants from across the globe to support Russia’s illegal war in Ukraine. The latest action hits 35 individuals and entities, including those responsible for human trafficking networks, funnelling exploited migrants into Russia’s war machine.

Networks sanctioned by the UK have been deceptively recruiting foreign migrants in search of a better life and either sending them to the front line as cannon fodder or putting them to work in weapons factories. This includes through schemes like Russia’s Alabuga Start programme for drone production at a UK-sanctioned entity.
Russia continues to terrorise Ukraine by indiscriminately using drones, killing, and injuring innocent civilians and damaging critical infrastructure. Russia fired the equivalent of over 200 drones per day into Ukraine in March 2026, the highest ever monthly total. Russia is likely to exceed this grim record for a second consecutive month in April.
These attacks rely on domestic manufacturers and third country suppliers providing key components and technical support. This new action is designed to disrupt these supply chains and hold those responsible to account by targeting the businessmen and companies fuelling Russia’s drone manufacturing capabilities.
Sanctions Minister Stephen Doughty said: “The practice of exploiting vulnerable people to prop up Russia’s failing and illegal war in Ukraine is barbaric.
“These sanctions expose and disrupt the operations of those trafficking migrants as cannon fodder and feeding Putin’s drone factories with illicit components to target innocent civilians and vital infrastructure.
“The UK continues to lead international efforts to disrupt Russia’s war machine, ramping up pressure on its economy and confronting its hybrid threats. We stand shoulder to shoulder with Ukraine in defence of European security and our shared values.”
Sanctioned targets also include individuals and entities based in third countries, including Thailand and China, responsible for supplying drone components and other critical military goods to Russia.
Among those sanctioned is Pavel Nikitin, whose company develops Russia’s VT-40 drone – a cheap, mass-produced attack drone which has been used extensively by Russia in its attacks on Ukraine.
Also sanctioned are three individuals with links to the Russian state involved in recruiting individuals to travel to Ukraine to fight for Russia.
This includes Polina Alexandrovna Azarnykh, who, backed by the Russian state, has been facilitating the travel of individuals from countries including Egypt, Iraq, Ivory Coast, Nigeria, Morocco, Syria and Yemen through Russia to Ukraine, where they are deployed with minimal training and under dire conditions to the frontline to sustain Russia’s illegal war of aggression.
The UK remains unwavering in its support for Ukraine and will continue to use the full force of its sanctions powers to disrupt Russia’s hybrid threats and squeeze the Kremlin’s war machine. These measures underline our determination to hold Russia and its enablers to account, defend European security and support Ukraine’s fight for freedom.
Charge d’Affaires and British Deputy High Commissioner in Abuja, Mrs. Gill Lever, said: “Today, the UK sanctioned Russian-linked networks and individuals involved in the deceptive recruitment of vulnerable Nigerian men and women, who were misled into joining Russia’s frontline in its war against Ukraine.
“These sanctions shine a light on those who seek to exploit vulnerable Nigerians to sustain Russia’s illegal war, including through schemes such as the Alabuga Start Programme.
“Such practices knowingly place innocent civilians in grave danger, showing a complete disregard for their safety and wellbeing. Tragically, some have already lost their lives as a result.
“In February, the Ministry of Foreign Affairs advised citizens to exercise caution and avoid these schemes. We intend that today’s sanctions will further reduce the risk of harm and help protect others from similar exploitation.”
General News
FirstCap Closes N4.46Bn LAPO MFB SPV Series 1 Bond, Deepens Access to Long Term Capital

FirstCap, an investment banking firm and subsidiary of FirstHoldCo Plc., has successfully closed the ₦4.46 billion Series 1 Bond Issuance by LAPO MFB SPV Plc, reinforcing its strong leadership in Nigeria’s debt capital markets and deepening access to long term funding for high impact sectors.

Acting as Lead Issuing House, FirstCap structured the fund raising on behalf of LAPO MFB SPV Plc (a company sponsored by LAPO Microfinance Bank Limited to mobilise institutional capital targeted at SME financing, renewable energy expansion, and digital financial services, three critical drivers of inclusive and sustainable economic growth in Nigeria.
The transaction is underpinned by a compelling impact thesis, with proceeds strategically deployed to support small businesses and clean energy initiatives. The microfinance sector continues to demonstrate resilience and strong fundamentals positioning the issuance at the intersection of growth, sustainability, and financial inclusion.
Commenting on the transaction, Ukandu E. Ukandu, Managing Director, FirstCap Limited, said: “This successful issuance underscores our strategic commitment to directing capital where it delivers measurable economic impact. At FirstCap, we partner with institutions that have the scale, discipline, and vision to transform markets, and LAPO exemplifies these qualities.
The ₦4.46 billion bond is positioned to be a catalyst for SME growth, expanded energy access, and broader financial inclusion. We remain committed to structuring transactions that are not only bankable, but impactful and aligned with Nigeria’s long term economic trajectory.”
FirstCap Limited remains committed to leading from the forefront of Nigeria’s capital markets, structuring transactions that are bankable, impactful, and investable, while supporting the future trajectory of Nigeria’s economic development.”
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