The Nigeria Sovereign Investment Authority (NSIA), the manager of Nigeria’s sovereign wealth fund and the National Council on Climate Change (NCCC), signed a Memorandum of Understanding (MoU) in furtherance of the collective efforts to mitigate climate change impacts on the country. The MoU, which was signed by the NSIA’s Managing Director/CEO, Mr. Aminu Umar-Sadiq, and […]
The World Economic Forum has canvassed the need for countries globally, particularly the developing ones to improve public sector involvement in climate change mitigation in order to achieve growth. The Forum, in its just published ‘May 2023 Chief Economist Outlook’, highlighted the need for developing economies to drive progress on major national and global challenges, […]
The Nigerian Meteorological Agency (NiMet) and the Central Bank of Nigeria (CBN) have signed a Memorandum of Understanding (MoU) for the purposes of improving agricultural productivity in food and by implication, ensure food security in the country. The terms of the agreement indicated that farmers would receive weather forecasts through the meteorological agency to guide […]
Shell Petroleum Development Company of Nigeria Limited (SPDC), has announced the lifting of the force majeure on its 250,000 barrels per day (b/pd) Bonny export terminal effective from Wednesday, 15 March, 2023. One of the company’s spokespersons, who gave this hint said: “The Shell Petroleum Development Company of Nigeria Limited (SPDC), operator of the SPDC […]
The Director-General of National Emergency Management Agency (NEMA), Mr. Mustapha Ahmed, has expressed serious concern over the rising fire incidents in some communities and markets nationwide in the past few days and charged the governments and other stakeholders to mitigate the losses associated with such hazards on lives, property and businesses with insurance covers. Ahmed, […]
The Centre for Law and Social Policy (CLASP) has estimated that if Nigeria complies with the United Nations Convention to eliminate mercury from products and processes, the country could save over $2.47 billion in fluorescent lighting phase-out by 2025. The organization’s Senior Manager, Climate, Colin Taylor, made this projection at an inception workshop with the ‘Minimum […]
President Muhammadu Buhari on Monday inaugurated the 10 megawatts Kano solar power project funded by the Nigeria Sovereign Investment Authority (NSIA) at a cost of $16 million. Speaking during the epochal event in the nation’s sustainable, environment-friendly power project drive, Buhari expressed satisfaction with the installation of the solar power plant, with over 21,000 solar […]
The U.S. Federal Emergency Management Agency (FEMA) has completed its 2023 traditional reinsurance placement for the National Flood Insurance Programme (NFIP), transferring an additional $502.5 million of flood risk to the private reinsurance market for a total premium of $90.2 million. A news report from Reinsurance News, an industry-focused on line medium, on Wednesday indicated […]
African leaders and the United States government have underscored the need for increased investment and prioritization of nutrition across the African continent. The African Development Bank (AfDB), through the African Leaders for Nutrition, the Nutrition CEO Council and the African Union Commission, convened a high-level discussion on 12 December, on the sidelines of the U.S.-African […]
The Board of Directors of the African Development Bank (AfDB) Group has approved an equity investment of $20 million in Evolution Fund III, a pan-African clean and sustainable energy private equity fund that is mobilising about $400 million into renewable energy and resource-efficiency assets across sub-Saharan Africa over a 10-year period. Inspired Evolution Investment Management […]