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Green Economy ‘ll Create Greater Prosperity for Investors – Agama
By Tony Obiechina, Abuja
Stakeholders, intermediaries, issuers, investors, and regulators have been enjoined to take advantage of the enormous resources and potential of sustainable finance to build a green climate resilient economy in Nigeria and create greater prosperity for investors and Nigerians.
This was stated by Director General of the Securities and Exchange Commission, Dr. Emomotimi Agama during a capacity building workshop for capital market operators on Green Finance in Lagos yesterday.The workshop is part of an ongoing capacity building initiative administered by the African Development Bank Group and financed by the Capital Market Development Trust Fund (CMDTF) of the Bank.The SEC DG represented by Executive Commissioner Operations SEC, Mr. Bola Ajomale, emphasised that the Commission is steadfast in its commitment to champion sustainable finance initiatives as the Rules on Green Bonds have already facilitated a couple of sovereign issues and multiple corporate issues.Agama said, “The Federal Government through the Debt Management Office (DMO) has led the way in Africa in this regard by issuing the first sovereign green bond in December 2017. It has since followed up with another N15bn issuance in June 2019 specifically to fund renewable energy, afforestation and transportation.”The Commission also approved two green bond issues by North South Power Services Ltd and Access Bank Plc worth N8.56bn and N15bn respectively to finance various infrastructural projects in the power, water and agriculture sectors of the Nigerian economy. The onus therefore lies with all of us distinguished ladies and gentlemen to continue to expand these issuances by locating a need and fashioning appropriate sustainable financing products to meet themThe SEC DG disclosed that the Commission continues to strongly support and champion efforts to deliver coordinated and coherent policy advice, capacity building and regulatory support to leverage actions across a broad spectrum of sectors to build the momentum for a green economy, which could bring socially inclusive and environmentally sound economic transformation.Agama said the workshop presents an opportunity to stakeholders in the capital market to enrich the discussion on Green Finance and more importantly, take concerted action on issues relating to climate change and sustainability.According to him, “The United Nations Environment Program (UNEP) defines a green economy as low carbon, resource efficient and socially inclusive economy. An economy where growth in employment and income are driven by public and private investment into such economic activities, infrastructure and assets that allow reduced carbon emissions and pollution, enhanced energy resource efficiency, and prevention of loss biodiversity and ecosystem services.”Climate change, as we all know, is one of the major risks threatening the well-being of mankind. Since the Paris Agreement was reached in December 2015, international efforts in combating climate change have gathered enormous momentum. According to the IMF, in the past four decades, we have witnessed the warmest years on record and the number of natural disasters more than doubled in that same time frame.”The SEC DG said embracing green finance remains a critical approach to addressing these challenges adding that it is crucial to involve key stakeholders in conversations that promote green finance.”We are at a pivotal moment where we can shape the future of our investment practices to align with environmental, social, and governance (ESG) principles. Transitioning to a green economy is crucial for the sustainable development of Nigeria.”The primary objective of the workshop is to provide capacity building for capital market operators and stakeholders to enhance knowledge and understanding of green finance, promote collaboration and networking among stakeholders, support regulatory compliance with SEC Rules, and facilitate the funding of innovative, environmentally friendly projects that will drive sustainable economic growth.”He expressed excitement at the promising trend of sustainability-themed funds gaining prominence, especially in developed countries, saying this reflects a growing global adoption of green finance criteria within the investment community, and notably, green finance performance has shown a strong correlation with overall financial performance.Agama urged stakeholders, intermediaries, issuers, investors, and regulators, to support this transition through their business activities by directing financial flows towards more sustainable and climate-friendly solutions, divesting from unsustainable practices, setting standards and frameworks, and integrating green finance into investment decisions and practices.In his remarks, Executive Director, Climate Transition Limited Mr. Olumide Lala said that Climate change is real adding that the transition to a green economy is essential for Nigeria’s sustainable development, and green finance is a critical component of this transition.”It is not just about the impact on a world that is far from us, it is here with us. The message today is for us to invest in assets, infrastructure assets that are climate efficient.”If you look around today, the impact of climate is upon us, it’s affecting our food security, it’s affecting our way of life. It is even affecting our country’s security as people are moving from place to place in search of a better life” he stated.Lala said the desertification of the Sahara is impeding the world, as people are moving towards the south, water resources is being compromised and there is climate risk associated with the financial investments people make.”There is the need to reduce emission, essentially the message today is change. The regulator is here trying to reassure investors that the governance structure is there to ensure the safety of the money they are investing. The governance structure is constantly being enhanced in line with global values.”We see this as a market development opportunity to educate the market on the benefits as well as the risks. But more importantly, how do you change the risks into opportunities? As the market changes and as we develop more opportunities for those coming behind us,” he added.
Business News
DBN Signs $61m Credit Deal With AfDB, Unveils Support Initiative Report
By Tony Obiechina, Abuja
The Development Bank of Nigeria Plc (DBN) has launched DAWN: DBN Action for Women in Nigeria, unveiled its Impact Report and presented MSME Data Assets at the seventh edition of Annual Lecture held in Abuja.
DBN, in a statement on Thursday, said while delivering a welcome address, its Managing Director and Chief Executive Officer, Dr Tony Okpanachi, said the central challenge was no longer reforms themselves but ensuring benefits reach businesses at end of the chain.
He asked how to make sure benefits reach traders in Onitsha, fabricator in Aba, farmer in Kebbi and young founder in Yaba, noting that MSMEs accounted for about half of Nigeria’s GDP and more than eight in every ten jobs, adding that when reform works for MSMEs it works for most Nigerians.
He explained that reform becomes prosperity only when entrepreneurs can act on it whether through long tenor loans to buy equipment, banks willing to take risk or skills and records needed to grow.
He said working through Participating Financial Institutions DBN provides longer term funding, partial credit guarantees through subsidiary Impact Credit Guarantee Limited and capacity building including Entrepreneurship Training Programme.
He disclosed that as at December 2025 DBN had disbursed a cumulative N1.4 trillion to MSMEs through 84 Participating Financial Institutions creating about 1.6 million jobs nationwide.
Under the new five year strategy, the Bank aims to reach more than two million MSMEs with deliberate targets for women led businesses, youth led businesses and underserved states.
On DAWN, Okpanachi said finance alone had not enabled enough women-led businesses to scale.
He said initiative brings together financing, guarantees and credit support, technical assistance, outcome linked grants and market linkages delivered through banks, microfinance institutions, fintechs, aggregators, cooperatives and direct channels.
Its priority sectors are agriculture and exports, healthcare, arts and creatives, technology and green business.
He said DAWN is about moving gender focused lending beyond intention and turning access into opportunity.
On the sidelines of the lecture DBN and African Development Bank held a signing ceremony of AfDB DBN 61 million United States dollars Gender Line of Credit development that reinforces Bank commitment to women led enterprises.
Okpanachi urged Participating Financial Institutions to extend lending into sectors and states where access to finance has been limited, policymakers and regulators to measure reform by what changes for business at end of chain and MSMEs to formalise, keep good records and use support now available.
The Vice President as Special Guest of Honour was represented by Dr Fred Iklaga Senior Technical Adviser in the Office of Special Adviser to the President on Economy.
Keynote speakers were Chief Executive Officer of MTN Nigeria, Dr Karl Toriola, and Chairman of Nigeria Sovereign Investment Authority, Dr Segun Ogunsanya.
Fireside chat featured Chief Executive Officer of Sterling Bank Abubakar Suleiman, manufacturing and trade entrepreneur Mrs Omoyemi Chukwurah and by video Kola Masha of Babban Gona.
The Secretary to the Government of Federation, represented by Augusta Warren Bekaredebo, said 2026 tax reforms would bring relief to many small businesses expressing optimism that a lot of businesses will be smiling by next year because they will be exempted from tax.
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NLC Threatens Nationwide Action as Talks With FG Collapse
By Tambaya Julius, Abuja
The Nigeria Labour Congress (NLC) has threatened possible nationwide industrial action following the failure of talks with the Federal Government over workers’ welfare, petrol prices and other outstanding labour demands.
The warning came after a meeting between the government and organised labour at the Ministry of Labour in Abuja on Thursday, October 22, ended without an agreement.
The congress has given the Federal Government until Tuesday, October 27, to make meaningful progress on the issues, warning that its relevant organs would decide the next line of action if the next meeting fails to produce concrete commitments.
The NLC has also directed its affiliates, state councils and civil society allies to begin mobilising members for possible nationwide action.
In a statement issued after the meeting, the NLC Acting General Secretary, Benson Upah, expressed disappointment over what he described as the government delegation’s lack of preparedness for the negotiations.
According to the congress, organised labour presented its demands in good faith but left the meeting without any concrete commitments from the government.
The demands include a reduction in petrol prices to 2024 levels, renegotiation of the national minimum wage, implementation of agreed tax relief measures and resolution of the terms of settlement involving the Joint Health Sector Unions (JOHESU).
The congress also called for the resolution of issues raised by the Joint Public Service Negotiating Council (JPSNC) over peculiar allowances, wage awards and hazard allowances.
The NLC said the government delegation lacked the necessary authority to engage meaningfully on the issues presented by labour representatives.
“The meeting between the Federal Government and organised labour, convened at the Ministry of Labour in Abuja on 22nd October 2026, has ended without resolution,” the statement said.
It added that the Minister of Labour requested that the meeting be adjourned until October 27 to allow the government to prepare adequately for further discussions.
The preparations, according to the statement, would include bringing relevant ministers and heads of departments and agencies to the negotiating table.
The congress said it remained open to dialogue but would not accept continued delays in addressing workers’ concerns.
“We will report back to our organs, and if no meaningful progress is made on Tuesday, the relevant organs of the NLC will decide the next line of action,” it said.
The labour body urged workers and members of the public to remain calm while the negotiations continue, even as it directed its affiliates and allies to prepare for possible industrial action.
“However, we urge all affiliates of NLC and TUC; all state councils and our civil society allies to be alert and start mobilising for a possible action across the nation while we hope that the tenets of our demands are met by the government,” the statement added.
The October 27 meeting is expected to provide another opportunity for both sides to address the outstanding issues and prevent a possible escalation of the dispute.
However, the NLC’s decision to begin mobilisation suggests that tensions could rise if the next round of talks fails to produce meaningful progress.
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Election Campaigns: FRSC Bars Officers from Politicians’ Escort
The Federal Road Safety Corps (FRSC) has barred its personnel from escorting politicians during campaigns for the 2027 general elections.
Zonal Commanding Officer, RS6, ACM Abimbola Owolabi, gave the directive during her maiden visit to the Cross River Command in Calabar on Wednesday.
Owolabi said patrol vehicles and sirens must not be used for political activities or private engagements, including weddings and funeral processions.
She directed officers deployed to campaign venues to focus exclusively on traffic management to prevent congestion and road crashes.
The zonal head warned personnel against leading political convoys or providing escorts for politicians, stressing that official vehicles must not be used for unauthorised purposes.


