Report Afrique

The Federal Government has directed the newly appointed board and management of the Niger Delta Development Commission (NDDC) to ensure the faithful implementation of recommendations outlined in the forensic audit report. Speaking at a two-day NDDC retreat in Ikot Ekpene LGA of Akwa Ibom State, the Minister of Niger Delta Development, Engr. Abubakar Momoh emphasized the importance of addressing factors hindering development in the region to achieve sustainable progress. Momoh highlighted the completion of the forensic audit and the ongoing implementation of its recommendations, including the formation of a new board. He urged the new leadership to diligently execute their tasks in line with the President's "Renewed Hope agenda." The Managing Director and Chief Executive Officer of the NDDC, Dr. Samuel Ogbuku, appealed for the commission to be removed from the Treasury Single Account framework, citing challenges faced under the current financial structure. Ogbuku stressed the need for increased autonomy in financial management to expedite project delivery and ensure timely execution, while still maintaining transparency goals. In response, the Chairman of the NDDC governing board, Mr. Chiedu Ebie, highlighted the objective of the 2024 Retreat, aimed at aligning the commission with the President's agenda for renewed hope. He emphasized the importance of effective leadership and collaboration in achieving development goals in the Niger Delta region. The retreat aims to foster constructive collaboration and mutual respect among board members and management staff, with a focus on leaving a lasting legacy of development and improvement in the region. Read the full article

The Federal Government has directed the newly appointed board and management of the Niger Delta Development Commission (NDDC) to ensure the faithful implementation of recommendations outlined in the forensic audit report. Speaking at a two-day NDDC retreat in Ikot Ekpene LGA of Akwa Ibom State, the Minister of Niger Delta Development, Engr. Abubakar Momoh emphasized the importance of addressing factors hindering development in the region to achieve sustainable progress. Momoh highlighted the completion of the forensic audit and the ongoing implementation of its recommendations, including the formation of a new board. He urged the new leadership to diligently execute their tasks in line with the President's "Renewed Hope agenda." The Managing Director and Chief Executive Officer of the NDDC, Dr. Samuel Ogbuku, appealed for the commission to be removed from the Treasury Single Account framework, citing challenges faced under the current financial structure. Ogbuku stressed the need for increased autonomy in financial management to expedite project delivery and ensure timely execution, while still maintaining transparency goals. In response, the Chairman of the NDDC governing board, Mr. Chiedu Ebie, highlighted the objective of the 2024 Retreat, aimed at aligning the commission with the President's agenda for renewed hope. He emphasized the importance of effective leadership and collaboration in achieving development goals in the Niger Delta region. The retreat aims to foster constructive collaboration and mutual respect among board members and management staff, with a focus on leaving a lasting legacy of development and improvement in the region. Read the full article

In a tragic incident, Herbert Wigwe, the group chief executive officer (CEO) of Access Holdings Plc, was reportedly involved in a helicopter crash in the United States on Friday. The crash occurred in California near the Nevada border. Alongside Wigwe, his wife and son were also aboard the helicopter, as well as Abimbola Ogunbanjo, the former group chairman of Nigerian Exchange Group Plc (NGX Group). The helicopter was carrying a total of six passengers, but as of now, no survivors have been found. Rescue efforts are underway to ascertain the full extent of the tragedy. REPORT AFRIQUE will update this story as more details unfold. Read the full article

In an interview published by German media on Saturday, NATO’s secretary general, Jens Stoltenberg, called on Europe to increase its arms production to support Ukraine and prevent potential long-term confrontation with Moscow. Stoltenberg emphasized the need to reconstitute and expand the industrial base to bolster deliveries to Ukraine and replenish NATO's own stocks. Stoltenberg’s remarks come ahead of a crucial meeting of NATO defense ministers in Brussels and mark the second anniversary of the Russia-Ukraine war. The NATO chief stressed the urgency of shifting from peacetime to high-tempo conflict production amid growing pleas from Ukraine for military assistance against Russian forces. Western leaders, including Germany’s Chancellor Olaf Scholz and President Joe Biden, have echoed calls for greater assistance to Ukraine. Biden described the failure of the US Congress to support Ukraine as close to criminal neglect during a meeting with Scholz in the Oval Office. Stoltenberg emphasized that while there is no imminent military threat against any ally, regular threats from the Kremlin against NATO countries underscore the importance of protecting alliance members. He warned that peace in Europe cannot be taken for granted, citing Russia’s invasion of Ukraine nearly two years ago. NATO, he said, does not seek war with Russia but must prepare for potential decades of confrontation. Stoltenberg highlighted the alliance's increased presence in the eastern part of NATO and stressed the importance of supporting Ukraine now to prevent further Russian aggression. NATO defense ministers are set to convene in Brussels on February 15, ahead of the second anniversary of Russia’s offensive in Ukraine. The meeting will include discussions within the Ukraine Defense Contact Group as a key agenda item. Read the full article

President Bola Tinubu has delegated Vice-President Kashm Shettima to represent him at the Africa Cup of Nations (AFCON) final in Côte d’Ivoire. In a statement released by VP Kashim Shettima on Saturday, February 9, it was disclosed that President Tinubu directed the Vice President to lead a presidential delegation to the highly anticipated match between Nigeria and the hosts at the Olympic Stadium Ebimpe, Abidjan, scheduled for Sunday. The statement highlighted President Tinubu's acknowledgment of football's unifying power and the significant role played by the Super Eagles in fostering national pride and unity. It emphasized the government's unwavering support for the team and dedication to their success, as demonstrated by Vice President Shettima's presence at the finals alongside the delegation. Furthermore, the federal government urged all Nigerians, both at home and abroad, to unite in support of the Super Eagles and to actively encourage the team, fostering a sense of national pride that would propel them to victory. This announcement follows remarks made by Patrice Motsepe, president of the Confederation of African Football (CAF), earlier, confirming President Tinubu's attendance at the final match in Côte d’Ivoire. Nigeria won South Africa on Wednesday to clinch a place in the AFCON final. The three time AFCON champion will battle it out with the host, Ivory Coast on Sunday for the trophy. Read the full article

The Nigerian Conservation Foundation (NCF) has disclosed that a mere four per cent of Nigeria’s forest cover remains intact. The Director-General of the NCF, Dr Joseph Onoja, delivered this concerning information during a sensitization program held in Calabar to address the adverse effects of unsustainable forest activities in Cross River state. The event, themed “The Crisis of Forest Loss and Threats to Rural Economy in Cross River,” aimed to highlight the urgent need for sustainable forest management practices. Dr. Onoja emphasized the importance of preserving forests for both economic and environmental reasons, stressing the role forests play in mitigating climate change. Acknowledging the significant role forests play in the livelihoods of many Nigerians, Dr Onoja underscored the necessity of finding ways to exploit forest resources sustainably. Despite expressing some disappointment at the slow progress in forest conservation efforts, he reaffirmed NCF's commitment to educating and changing societal attitudes toward forest preservation. Echoing Dr. Onoja's sentiments, Dr. George Oben-Etchi, Chairman of the Cross River Forestry Commission, reaffirmed the state government's commitment to afforestation. He disclosed plans to annually plant five million trees in collaboration with NGOs and enforce regulations to curb illegal logging. Conservator CP Caroline Olori of the Cross River National Park appealed to forest communities to take ownership of forest conservation efforts and involve more youth in restoration initiatives. Additionally, His Royal Highness, Obhoro Obio Arong Owai, emphasized the need for collaboration between communities and the government to combat illegal logging and ensure sustainable forest management. The state of Nigeria's forests remains a critical concern, with stakeholders emphasizing the urgency of concerted efforts to halt deforestation and restore degraded landscapes. Read the full article

New Legislation Aims to Address Developmental and Environmental Concerns in Host Communities President Bola Tinubu has officially signed the Electricity Act (Amendment) Bill, 2024, into law, marking a significant milestone in Nigeria's energy sector reform. The bill, sponsored by Babajimi Benson of Lagos State's Ikorodu Federal Constituency, was passed by both the House of Representatives on July 27, 2023, and the Senate on November 14, 2023. The amended legislation targets the developmental and environmental challenges faced by host communities of power-generating companies (GENCOs). It mandates that five per cent of the previous year's actual annual operating expenditures of GENCOs be allocated for infrastructure advancements within these communities. According to Ajuri Ngelale, the Special Adviser on Media and Publicity to President Tinubu, the funds earmarked for host community development will be managed and disbursed for infrastructure advancements by a reputable Trustee/Manager jointly appointed by the respective GENCO and their host community. This move builds upon previous energy sector reforms initiated by President Tinubu, including the assent to the 2023 Electricity Act, which replaced the Electricity and Power Sector Reform Act of 2005. The 2023 Act aimed to decentralize Nigeria's electricity generation, transmission, and distribution, empowering states, companies, and individuals to participate in these processes. Under the provisions of the Electricity Act, states have the authority to issue licenses to private investors for the operation of mini-grids and power plants within their jurisdictions, thereby promoting localized energy solutions. However, interstate and transnational electricity distribution remain excluded from the Act's scope. President Tinubu's endorsement of the Electricity Act (Amendment) Bill signifies a continued commitment to addressing the challenges and promoting sustainable development in Nigeria's energy sector, particularly in the welfare of host communities. Read the full article

The Central Bank of Nigeria (CBN) has directed banks to provide customers with prior notices of outstanding obligations before commencing debt recovery processes. The move aims to ensure a transparent, courteous, and fair debt recovery process for consumers. Released on Thursday via its website, the CBN's document titled "Revised Consumer Protection Regulations" underscores the importance of adhering to consumer protection principles within financial institutions. Key highlights from the regulations include guidelines on consumer rights, aiming for improved outcomes and enhanced access to financial services. According to the document, foreclosure actions should be considered only as a last resort after exhausting all other avenues of debt recovery. Foreclosure, the legal process wherein ownership transfers to the bank or lender in the event of loan default, should be preceded by offering customers the option of a private sale. Customers must be provided with this option within a 30-day timeframe unless explicitly waived. Furthermore, financial service providers are mandated to allocate net proceeds from foreclosures to the respective loan accounts and inform customers of any remaining balances. Banks are also required to furnish customers with detailed reports on collateral sales, including processes, expenses, and net proceeds. The CBN emphasizes that banks hold accountability for the actions of debt collection agents. Moreover, the document outlines restrictions for loan providers concerning communication with individuals associated with the customer, barring unauthorized disclosures of personal data without express consent. Additionally, financial service providers are tasked with implementing measures to safeguard customers' assets, including automated transaction monitoring and fraud detection mechanisms. Consumers are to be educated on fraud threats, with clear procedures established for reporting suspicious activities or unauthorized transactions. To enhance digital financial services, banks must offer secure and user-friendly interfaces, while ensuring the privacy and confidentiality of consumer data. The CBN underscores the importance of obtaining written consent for data collection and processing, with clear opt-in and opt-out mechanisms for data sharing. The apex bank's revision of the 2019 Consumer Protection Regulations aims to safeguard consumer interests amidst the evolving financial services landscape. Read the full article

The Federal Government has appointed Community Leader Managers for all 36 states and the Federal Capital Territory (FCT) as part of its 3MTT project. This announcement was made by the Minister for Communications, Innovation, and Digital Economy, Dr. ‘Bosun Tijani, on Friday. Minister for Communications, Innovation, and Digital Economy, Dr. ‘Bosun Tijani The appointment of these managers follows a recent partnership worth N1 billion with IHS Nigeria to support the 3MTT Learning Community across the country. Dr. Tijani emphasized the importance of these managers in empowering Nigeria's technology talents, stating that they will play a crucial role in assisting participants in navigating the learning platform provided by IHS Nigeria. Expressing enthusiasm about the collaboration between the public and private sectors, Dr Tijani highlighted the necessity of such partnerships for Nigeria's national digital transformation journey. He emphasized the goal of making Nigeria a net exporter of tech talent, as outlined in the Strategic Blueprint. As part of IHS Nigeria's support, the company has committed to paying the salaries of the 37 dedicated learning community managers nationwide. Additionally, access to the IHS Learning Platform will significantly contribute to supporting talent development efforts under the 3MTT initiative. Mohamad Darwish, CEO of IHS Nigeria, reiterated the company's commitment to the initiative, aligning with the President's Renewed Hope Agenda and the Minister's Strategic Plan. He emphasized the importance of investing in digital skills to stimulate job creation, innovation, and economic diversification. This collaboration comes in conjunction with IHS Nigeria's recent milestone of rolling out over 10,000 kilometres of fibre optic cables across Nigeria's 36 states and the FCT. This initiative aims to enhance broadband quality and access, thus improving digital services for individuals, businesses, and organizations nationwide. Read the full article

Governor Siminalayi Fubara of Rivers State engaged in closed-door discussions with Mr Jochen Schindelarz, the Vice Consul-General of Germany to Nigeria, alongside a German business delegation at the Government House in Port Harcourt. Following the meeting, Mr Schindelarz, speaking to reporters, expressed satisfaction with Governor Fubara's commitment to maintaining a safe climate for investments within the state, emphasizing the pivotal role security plays in fostering economic growth. Mr Sebastian Glaeser, the leader of the German Industry and Commerce delegation in Nigeria, revealed plans for reciprocal business ventures, including sponsoring representatives from Rivers State to Europe to showcase investment opportunities. Governor Fubara with the German delegation Both the Port Harcourt Chamber of Commerce, Industry, Mines and Agriculture (PHACCIMA) and the German chamber have been tasked with facilitating these visits, aimed at attracting increased direct foreign investments to the state. Highlighting existing investment successes in the oil and gas sector, Mr Glaeser underscored the importance of diversifying investments into areas such as hydrogen, agriculture, and industrial products. He emphasized the significance of industry leaders' visits to Europe for trade fairs, road shows, conferences, and business forums to explore potential partnerships and synergies between Rivers State's resources and European markets. The collaborative efforts between Governor Fubara's administration and the German delegation signify a strategic move towards enhancing economic opportunities and fostering sustainable growth in Rivers State. This was contained in a statement released by the governor on Friday. Read the full article

During a presentation of its financial results, TotalEnergies CEO, Patrick Pouyanne, revealed the company's intention to divest its minority stake in a significant Nigerian onshore oil joint venture, echoing Shell's recent departure from the sector. Pouyanne highlighted the company's strategic decision to restructure its portfolio, citing challenges in producing oil in the Niger Delta that are not aligned with their Health, Security, and Environmental policies. "We want to divest our share of SPDC, and we are looking to reshape the portfolio," Pouyanne stated. "Fundamentally it’s because producing this oil in the Niger Delta is not in line with our policies; it’s a real difficulty." Despite this move, TotalEnergies aims to retain its Nigerian gas assets, recognizing their importance for future expansion in liquefied natural gas development. The Shell Petroleum Development Company of Nigeria Limited (SPDC), in which TotalEnergies holds a 10% interest, has faced challenges with onshore oil spills due to theft, sabotage, and operational issues, leading to costly repairs and legal disputes. TotalEnergies' decision to divest from Nigeria's onshore sector follows a trend among International Oil Companies (IOCs) seeking to focus on newer, more profitable ventures. The company remains a significant player in the country's offshore fields. In recent developments, TotalEnergies announced the commencement of operations at the 14,000 bpd Akpo West oilfield, located 135 kilometres off the coast. The Nigerian onshore oil industry has seen major international oil companies exiting, paving the way for local players. Shell's recent agreement to sell its 30% stake in SPDC to a consortium of local companies for up to $2.4 billion reflects this trend. Other IOCs like ExxonMobil and Norway’s Equinor have also divested assets in Nigeria to focus on more lucrative operations elsewhere. Read the full article

The Federal Government has directed the newly appointed board and management of the Niger Delta Development Commission (NDDC) to ensure the faithful implementation of recommendations outlined in the forensic audit report. Speaking at a two-day NDDC retreat in Ikot Ekpene LGA of Akwa Ibom State, the Minister of Niger Delta Development, Engr. Abubakar Momoh emphasized the importance of addressing factors hindering development in the region to achieve sustainable progress. Momoh highlighted the completion of the forensic audit and the ongoing implementation of its recommendations, including the formation of a new board. He urged the new leadership to diligently execute their tasks in line with the President's "Renewed Hope agenda." The Managing Director and Chief Executive Officer of the NDDC, Dr. Samuel Ogbuku, appealed for the commission to be removed from the Treasury Single Account framework, citing challenges faced under the current financial structure. Ogbuku stressed the need for increased autonomy in financial management to expedite project delivery and ensure timely execution, while still maintaining transparency goals. In response, the Chairman of the NDDC governing board, Mr. Chiedu Ebie, highlighted the objective of the 2024 Retreat, aimed at aligning the commission with the President's agenda for renewed hope. He emphasized the importance of effective leadership and collaboration in achieving development goals in the Niger Delta region. The retreat aims to foster constructive collaboration and mutual respect among board members and management staff, with a focus on leaving a lasting legacy of development and improvement in the region. Read the full article

In an interview published by German media on Saturday, NATO’s secretary general, Jens Stoltenberg, called on Europe to increase its arms production to support Ukraine and prevent potential long-term confrontation with Moscow. Stoltenberg emphasized the need to reconstitute and expand the industrial base to bolster deliveries to Ukraine and replenish NATO's own stocks. Stoltenberg’s remarks come ahead of a crucial meeting of NATO defense ministers in Brussels and mark the second anniversary of the Russia-Ukraine war. The NATO chief stressed the urgency of shifting from peacetime to high-tempo conflict production amid growing pleas from Ukraine for military assistance against Russian forces. Western leaders, including Germany’s Chancellor Olaf Scholz and President Joe Biden, have echoed calls for greater assistance to Ukraine. Biden described the failure of the US Congress to support Ukraine as close to criminal neglect during a meeting with Scholz in the Oval Office. Stoltenberg emphasized that while there is no imminent military threat against any ally, regular threats from the Kremlin against NATO countries underscore the importance of protecting alliance members. He warned that peace in Europe cannot be taken for granted, citing Russia’s invasion of Ukraine nearly two years ago. NATO, he said, does not seek war with Russia but must prepare for potential decades of confrontation. Stoltenberg highlighted the alliance's increased presence in the eastern part of NATO and stressed the importance of supporting Ukraine now to prevent further Russian aggression. NATO defense ministers are set to convene in Brussels on February 15, ahead of the second anniversary of Russia’s offensive in Ukraine. The meeting will include discussions within the Ukraine Defense Contact Group as a key agenda item. Read the full article

President Bola Tinubu has delegated Vice-President Kashm Shettima to represent him at the Africa Cup of Nations (AFCON) final in Côte d’Ivoire. In a statement released by VP Kashim Shettima on Saturday, February 9, it was disclosed that President Tinubu directed the Vice President to lead a presidential delegation to the highly anticipated match between Nigeria and the hosts at the Olympic Stadium Ebimpe, Abidjan, scheduled for Sunday. The statement highlighted President Tinubu's acknowledgment of football's unifying power and the significant role played by the Super Eagles in fostering national pride and unity. It emphasized the government's unwavering support for the team and dedication to their success, as demonstrated by Vice President Shettima's presence at the finals alongside the delegation. Furthermore, the federal government urged all Nigerians, both at home and abroad, to unite in support of the Super Eagles and to actively encourage the team, fostering a sense of national pride that would propel them to victory. This announcement follows remarks made by Patrice Motsepe, president of the Confederation of African Football (CAF), earlier, confirming President Tinubu's attendance at the final match in Côte d’Ivoire. Nigeria won South Africa on Wednesday to clinch a place in the AFCON final. The three time AFCON champion will battle it out with the host, Ivory Coast on Sunday for the trophy. Read the full article

The Nigerian Conservation Foundation (NCF) has disclosed that a mere four per cent of Nigeria’s forest cover remains intact. The Director-General of the NCF, Dr Joseph Onoja, delivered this concerning information during a sensitization program held in Calabar to address the adverse effects of unsustainable forest activities in Cross River state. The event, themed “The Crisis of Forest Loss and Threats to Rural Economy in Cross River,” aimed to highlight the urgent need for sustainable forest management practices. Dr. Onoja emphasized the importance of preserving forests for both economic and environmental reasons, stressing the role forests play in mitigating climate change. Acknowledging the significant role forests play in the livelihoods of many Nigerians, Dr Onoja underscored the necessity of finding ways to exploit forest resources sustainably. Despite expressing some disappointment at the slow progress in forest conservation efforts, he reaffirmed NCF's commitment to educating and changing societal attitudes toward forest preservation. Echoing Dr. Onoja's sentiments, Dr. George Oben-Etchi, Chairman of the Cross River Forestry Commission, reaffirmed the state government's commitment to afforestation. He disclosed plans to annually plant five million trees in collaboration with NGOs and enforce regulations to curb illegal logging. Conservator CP Caroline Olori of the Cross River National Park appealed to forest communities to take ownership of forest conservation efforts and involve more youth in restoration initiatives. Additionally, His Royal Highness, Obhoro Obio Arong Owai, emphasized the need for collaboration between communities and the government to combat illegal logging and ensure sustainable forest management. The state of Nigeria's forests remains a critical concern, with stakeholders emphasizing the urgency of concerted efforts to halt deforestation and restore degraded landscapes. Read the full article

In a tragic incident, Herbert Wigwe, the group chief executive officer (CEO) of Access Holdings Plc, was reportedly involved in a helicopter crash in the United States on Friday. The crash occurred in California near the Nevada border. Alongside Wigwe, his wife and son were also aboard the helicopter, as well as Abimbola Ogunbanjo, the former group chairman of Nigerian Exchange Group Plc (NGX Group). The helicopter was carrying a total of six passengers, but as of now, no survivors have been found. Rescue efforts are underway to ascertain the full extent of the tragedy. REPORT AFRIQUE will update this story as more details unfold. Read the full article