NEWS
Nigeria Sets January 2025 for $5bn Africa Energy Bank Take Off

The Federal Government has set Jan. 28, 2025 as the deadline for the operationalisation of the five billion dollars Africa Energy Bank (AEB).
The bank would be domiciled in Abuja, the Nigeria’s capital city.
Amb. Nicholas Ella, Permanent Secretary, Ministry of Petroleum Resources and Executive Board Member, who led a delegation representing Nigeria at the African Petroleum Producers Organisation (APPO), disclosed this at the APPO’s 19th Executive Board meeting.
The meeting which had representatives of 13 member countries was held in Yaounde, Cameroon.
Ella, in a statement on Friday, reiterated Nigeria’s commitment to the ideals of APPO and the immediate setting up of the AEB in Abuja.
Nigeria won the hosting right for the establishment of the AEB Headquarters in July 2024, after it competed with Ghana, Algeria, South Africa, and Benin Republic.
The AEB which is being established by APPO in collaboration with the Afriexim Bank, aims to bridge financing gaps in the continent’s oil and gas industry.
“The Headquarters building (of the Africa Energy Bank) was inspected by the Technical Team in May 2024, and renovation works for its completion is ongoing.
“Nigeria is fully committed to delivering the building with furnishing to the bank in good time. We have the full support of President Bola Tinubu and our National Assembly to actualise this project in Nigeria,” Ella said.
Giving further insights, Ella said the Federal Executive Council (FEC), on June 25, 2024, approved the hosting of the bank while the ratification of the Charter and Headquarter’s Agreement are in advanced stage.
He said the FEC also approved and endorsed the Establishment Document of the AEB, and instructed the Attorney General and Minister of Justice, to commence with the process of ratification.
“The Attorney General concluded the process on Sept. 9, 2024 and transmitted the AEB Establishment Documents, currently with the President for his assent. Once that is done, it will be forwarded to APPO,” he added.
On equity contribution to the AEB, Ella said Nigeria was making efforts to complete its share of the equity contribution to the AEB.
He said apart from the earlier payment of 59.1 million dollars, an additional 10 million dollars was paid into APPO Account by the federal government last week, with the intention to make full payment before the bank takeoff.
“Nigeria wishes to advocate for the establishment and funding of the Africa Energy Bank as part of APPO’s budgetary plans.
“This initiative would not only address the financial needs of the energy sector but also provide a platform for mobilising investments in oil and gas projects, which are vital for Africa’s economic growth and development,” he said.
In reaction to Nigeria’s update on preparations for the bank’s operationalisation, the Secretary-General of APPO, Dr Farouk Ibrahim, said 50 per cent of the funds needed for the AEB take off was available.
Ibrahim, who urged APPO member countries to keep up the tempo for the bank’s take off, explained that it would have three classes of shareholders with APPO and Afrexim occupying the priority shareholder position.
Responding to Nigeria’s presentation, the APPO Executive Board member from Egypt, Hisham Selim, described Nigeria’s explanation concerning preparations for bank’s take off as “encouraging.”
The date for the AEB’s take-off coincides with the 38th anniversary of the establishment of APPO, an 18-member country bloc that drives the development of the African energy industry. (NAN)
NEWS
FG Imposes 7-year Ban on New Federal Tertiary Institutions

The Federal Executive Council (FEC) has approved a seven-year moratorium on the establishment of new federal tertiary institutions.
Dr Tunji Alausa, Minister of Education announced the approval, after Wednesday’s FEC meeting, presided over by President Bola Tinubu at the Presidential Villa, Abuja.
He explained the ban applies to all federal universities, polytechnics, and colleges of education.
According to Alausa, the decision aims to address systemic decay caused by unregulated expansion.
”What we are witnessing today is duplication of new federal tertiary institutions, a significant reduction in the current capacity of each institution, and degradation of both physical infrastructure and manpower.
”“If we do not act decisively, it will lead to marked declines in educational quality and undermine the international respect that Nigerian graduates command.”
“We are doing this to further halt decays in tertiary institutions which may in future affect the quality of education and consequently cause unemployment of graduates from some of these institutions.”
Alausa noted Nigeria currently has 72 federal universities, 108 state universities, and 159 private universities with similar trends in polytechnics and colleges of education.
He pointed to a growing mismatch between the number of institutions and available student enrollment.
He cited a northern university with fewer than 800 students but over 1,200 staff, calling it unsustainable.
The minister described the moratorium as a bold corrective measure by the Tinubu administration.
He said the government would now focus on upgrading existing institutions, improving infrastructure, boosting manpower, and increasing capacity.
“We need to improve the quality of our education system and increase the carrying capacity of our current institutions so that Nigerian graduates can maintain and enhance the respect they enjoy globally.”
The minister however announced that the Council approved 9 new private universities out of the 79 active requests pending applications.
”Several of these applications have been in the pipeline for over six years, with investors having already built campuses and invested billions of Naira,” he explained.
“Due to inefficiencies within the NUC, approvals were delayed. We have since introduced reforms to streamline these processes, and today’s approvals are a result of clearing this backlog.”
(NAN)
Foreign News
CAF Sanctions Kenya Again over Crowd Trouble

The Confederation of African Football (CAF) has sanctioned African Nations Championship (CHAN) co-host, Kenya, for the second time in as many weeks over security breaches.
In a statement made available on Monday evening, the continental governing body said that it has limited entry to the 48,000-seat Moi International Sports Centre.
It also said that, known as Kasarani Stadium, can accommodate 27,000 fans for Sunday’s Group A match between Kenya and Zambia.
CAF said only electronic ticket holders would be allowed into the stadium, with thermal tickets prohibited.
The governing body warned that Kenya’s matches could be relocated from Kasarani Stadium if organisers fail to prevent further breaches.
“We trust these measures will be applied swiftly to protect competition’s integrity, ensure fan safety, and uphold confidence in Kenya’s commitment to the tournament,” CAF said.
The sanctions follow incidents on Aug. 10 when Kenya defeated two-time winner Morocco 1-0 in spite of playing the entire second half with 10 men.
The win put Kenya top of Group A with seven points.
The debutants would reach the quarterfinals with at least a draw against winless Zambia.
Last week, Kenya’s football federation was fined nearly 20,000 U.S. dollars for security lapses during the team’s 1-0 win over DR Congo in the tournament opener on Aug. 3.
In the latest case, CAF cited major lapses, including stadium gates and restricted service areas being overrun by ticketless spectators and holders of government-distributed physical tickets.
It also accused security personnel of losing control at exit points and allowing breaches of the perimeter fence that enabled thousands of ticketless fans to enter.
CAF had expressed alarm over the use of tear gas and flash grenades, reports of live ammunition fired near spectators and staff, and violent incidents such as stone-throwing at security personnel.
It also cited unsafe vehicle movement in spectator areas, inadequate police response, and the lack of medical incident reports in spite of injuries being reported.
Organisers were further criticised for insufficient communication tools and the absence of CCTV coverage at critical entry points.
Education
Varsity Don Advocates Establishment of National Bureau for Ethnic Relations, Inter-Group Unity

By David Torough, Abuja
A university scholar, Prof. Uji Wilfred of the Department of History and International Studies, Federal University of Lafia, has called on the Federal Government to establish a National Bureau for Ethnic Relations to strengthen inter-group unity and address the deep-seated ethnic tensions in Nigeria, particularly in the North Central region.
Prof.
Wilfred, in a paper drawing from years of research, argued that the six states of the North Central—Kwara, Niger, Kogi, Benue, Plateau, and Nasarawa share long-standing historical, cultural, and economic ties that have been eroded by arbitrary state boundaries and ethnic politics.According to him, pre-colonial North Central Nigeria was home to a rich mix of ethnic groups—including Nupe, Gwari, Gbagi, Eggon, Igala, Idoma, Jukun, Alago, Tiv, Birom, Tarok, Angas, among others, who coexisted through indigenous peace mechanisms.
These communities, he noted, were amalgamated by British colonial authorities under the Northern Region, first headquartered in Lokoja before being moved to Kaduna.
He stressed that state creation, which was intended to promote minority inclusion, has in some cases fueled exclusionary politics and ethnic tensions. “It is historically misleading,” Wilfred stated, “to regard certain ethnic nationalities as mere tenant settlers in states where they have deep indigenous roots.”
The don warned that such narratives have been exploited by political elites for land grabbing, ethnic cleansing, and violent conflicts, undermining security in the sub-region.
He likened Nigeria’s ethnic question to America’s historic “race question” and urged the adoption of structures similar to the Freedmen’s Bureau, which addressed racial inequality in post-emancipation America through affirmative action and equitable representation.
Wilfred acknowledged the recent creation of the North Central Development Commission by President Bola Tinubu as a step in the right direction, but said its mandate may not be sufficient to address ethnic relations.
He urged the federal government to either expand the commission’s role or create a dedicated Bureau for Ethnic Relations in all six geo-political zones to foster reconciliation, equality, and sustainable development.
Quoting African-American scholar W.E.B. Du Bois, Prof. Wilfred concluded that the challenge of Nigeria in the 21st century is fundamentally one of ethnic relations, which must be addressed with deliberate policies for unity and integration.