NEWS
Reps Back Green Bank, Approve $100m Climate Finance Initiative
By Ubong Ukpong, Abuja
The House of Representatives on Wednesday signalled a dual push for economic reform, backing the creation of a Green and Climate Finance Bank to drive renewable energy investment while intensifying its probe into alleged revenue leakages from crude oil exports.
At a joint media briefing in Abuja, Chairman of the House Committee on Renewable Energy, Afam Ogene, endorsed the proposed Green and Climate Finance Bank, describing it as a timely intervention aligned with Nigeria’s energy transition agenda.
Ogene said the proposed institution—an initiative of Quantum Partners, would mobilise private capital, deploy innovative risk-sharing tools and provide long-term financing tailored to renewable energy and other climate-aligned sectors.
“This initiative comes at a critical time in our nation’s history,” he said, noting its alignment with the Federal Government’s renewable energy policy aimed at boosting energy security.
He emphasised that the bank would not be government-owned but structured as a private-sector driven institution with strong governance standards designed to attract domestic and international investors. According to him, the House stands ready to create an enabling legislative environment to support sustainable finance frameworks.
Speaking for the promoters, Quantum Partners’ representative Oluwafemi Adedipe said Nigeria faces both climate vulnerability and vast green investment opportunities estimated at $104bn by 2030.
“The opportunity alone does not translate into progress. Capital must be mobilised and risks structured. That is the gap this bank is designed to fill,” he said.
Co-founder Samuel Ndubuisi-Brown disclosed that the promoters are targeting an initial $100m in founding capital, with operations projected to commence in 2026 following regulatory approvals. He described the initiative as a “first-mover” opportunity for investors seeking financial returns alongside measurable environmental and social impact.
While backing green financing, the House simultaneously turned its attention to tightening oversight of export earnings.
At a resumed investigative hearing, the Ad-hoc Committee probing Pre-Shipment Inspection of Exports and the alleged non-remittance of crude oil proceeds directed the Nigeria Customs Service, Central Bank of Nigeria, Nigerian Ports Authority and the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture to submit fresh and comprehensive documentation clarifying their roles in pre-shipment processes.
Chairman of the Committee, Seyi Sowunmi, said previous submissions by the agencies were either incomplete or outdated, stressing that new dates would be communicated for further appearances.
The probe follows a House resolution to investigate alleged lapses in the pre-shipment inspection regime amid concerns over under-remittance of crude oil revenues to the Federation Account.
Lawmakers expressed worries about accountability gaps across the oil and non-oil export value chain.
Representatives of the agencies defended their statutory roles.
Customs officials stated that their responsibility is limited to verifying export documentation and conducting physical inspections at export terminals, noting that they do not collect export duties or track payments made to the government.
The Central Bank clarified that under the Pre-Shipment Inspection Act, it plays an administrative and coordinating role through automated export documentation systems but does not appoint pre-inspection agents.
The Nigerian Ports Authority said it operates within defined port jurisdictions and collaborates with relevant agencies, while NACCIMA maintains that it issues certificates of origin for non-oil exports and has no involvement in crude oil shipments.
Sowunmi described the investigation as being of national importance.
“Part of the problem Mr President is trying to cure is that we should account for every kobo that accrues to the nation,” he said. “This is what this committee seeks to achieve.”
The twin developments underscore the House’s broader economic stance: catalysing green investment to secure Nigeria’s energy future while tightening oversight to plug revenue leakages in its vital export sector.
NEWS
CPPE Rejects World Bank Import Push, Urges Industrial Focus
The Centre for the Promotion of Private Enterprise (CPPE) has faulted a World Bank recommendation advocating increased importation of petroleum products and food.
CPPE founder, Dr. Muda Yusuf, in a statement on Sunday, said the advice was misaligned with Nigeria’s reform path and threatened long-term development goals.
He maintained that industrialisation remained the most viable pathway to Nigeria’s economic transformation.
The World Bank projected about 4.2 per cent economic growth for Nigeria in 2026.
It also urged authorities to save oil windfalls, tighten monetary policy and avoid blanket subsidies to curb inflation.
Yusuf said that, as macroeconomic stability improves, priorities should consolidate gains through domestic production and value addition rather than import dependence.
He stressed that sustainable transformation was anchored on strong industrial capability.
According to him, increased importation to address supply constraints would undermine local production and weaken the real sector.
“What the Nigerian economy urgently requires is a coherent industrial strategy that expands domestic production capacity and strengthens manufacturing competitiveness,” he said.
Yusuf warned that import-driven solutions could accelerate de-industrialisation, limit job creation and expose the economy to external shocks.
He noted that domestic producers faced constraints including poor infrastructure, high energy costs, elevated lending rates and multiple taxation.
He said presenting import liberalisation as a competition tool ignored business realities and disadvantaged local investors.
Yusuf added that industrialisation required deliberate policies to reduce costs, improve logistics and strengthen industrial ecosystems.
He emphasised that Nigeria’s transition toward self-sufficiency in petroleum refining should be protected through supportive policies.
He warned that increased petroleum imports could weaken refining investments, heighten foreign exchange pressures and reverse sectoral gains.
On agriculture, Yusuf cautioned that excessive food imports could discourage local production, depress rural incomes and undermine food security.
He said Nigeria’s food system must be strengthened through improved productivity, value chain development and better market access.
Yusuf highlighted risks of import dependence, including pressure on reserves, exchange rate volatility and weakened industrial linkages.
He noted that many advanced economies now prioritise domestic production and supply chain resilience through strategic protectionism.
Yusuf urged the World Bank to refocus its advisory toward industrialisation-driven reforms supporting local refining, manufacturing and agriculture.
He listed priorities including reducing production costs, strengthening industrial clusters, promoting backward integration and addressing structural bottlenecks.
“Import liberalisation is not a sustainable solution. The focus should be on building a resilient, self-reliant and industrialised economy,” he said.
NEWS
Ode-Omi Kingdom Petitions Reps, Claims Historical Ownership of Oil-Rich Eba Island
By David Torough, Abuja
A fresh territorial dispute has emerged in Nigeria’s coastal region as the Ode-Omi Kingdom in Ogun State formally petitioned the House of Representatives, copied to Sen. Gbenga Daniel, who represents Ogun East and Hon. Adegbesan who represents Ogun waterside local government, seeking official recognition as the rightful owner of Eba Island, a location recently approved for crude oil exploration.
The petition, submitted by Oba Folailu Adekunle Hassan and the people of Ode-Omi through their legal representatives, urges the National Assembly to affirm that Eba Island, also known as Eba Ebute Olokun, falls within the jurisdiction of Ogun State’s Ogun Waterside Local Government Area.
The move follows a motion by Joseph Adegbesan, which prompted an ongoing investigation into the ownership and territorial status of the island. The issue gained urgency after Bola Ahmed Tinubu approved crude oil exploration activities in the area, triggering competing claims from neighboring communities.
In the petition, the Ode-Omi Kingdom insists that Eba Island has, “from time immemorial,” been under its control, citing ancestral settlements, traditional authority, and administrative history as evidence.
The kingdom argued that several ruling houses from Ode-Omi have long-standing roots on the island and that past and present traditional rulers exercised authority over the area, including appointing local chiefs.
The petition also referenced a 2017 report by the Ijebu Traditional Council, which allegedly affirmed the authority of the Lenuwa of Ode-Omi over Eba settlements, including the disputed island.
According to the petitioners, colonial records, scholarly research and government recognitions, such as those tied to the Olokola Free Trade Zone—further support their claim.
However, the claim is being challenged by the Atijere Community in Ondo State’s Ilaje Local Government Area, whose traditional leadership has asserted host community status over the island.
The Ode-Omi petition dismisses this as “false and misleading,” arguing that the claim lacks historical, legal, and geographical backing.
The petitioners are asking the House to declare Eba Island part of Ode-Omi Kingdom, recognize the Lenuwa as the prescribed traditional authority and direct all relevant agencies to treat Ode-Omi as the host community for oil operations.
They warned that failure to resolve the dispute in line with historical and legal evidence could lead to avoidable conflict, stressing that the matter is a “test of respect for history and adherence to law.”
“Ogun State Government recognised Ode-Omi as host community in the Olokola Free Trade Zone project (OKFTZ) situate along the coastal area which also covers Eba Ebute Olokun (aka Eba island) and Ode-Omi only shares boundary with Irokun Community along that coastal line in Ogun Waterside Local Government Area and Ibeju-Lekki in Lagos State. Ode-Omi also shares a boundary with Imakun Omi, Ogun Waterside Local Government Area of Ogun State along the Alape River about seven (7) miles to Eba Ebute Olokun (aka Eba Island).
“The Ogun State Government during the tenure of His Otunba Gbenga Daniel requested that the then Awujale of Ijebu Ode late Alayeluwa oba (DR.) S. K. Adetona constitutes a panel on the development at Ode Omi and the role of late Oba Adenuga Okuniyi, Lenuwa of Ode-Omi (as he then was) which was held on 1st of September, 2009 at the Heritage Hall, Aafin, Ijebu Ode with a Report confirming Ode-Omi as the host community for the Olokola Free Trade Zone project (OKFTZ).
“Survey plan of Ebute Olokun, Okuniyi, Ojafoyewa family land at Ebute Olokun Village, Ogun Waterside Local Government Area, Ogun State with plan NO. JOO/06/22/2000 prepared by Jonas Okeke Registered Surveyor is the substantive survey plan of Eba Ebute Olokun popularly known as Eba Island.
“This constitutes modern administrative acknowledgment of ownership,” the petition aptly captured.
The House Committees on Petroleum Resources (Upstream) and Special Duties are expected to review the petition as part of the broader investigation.
NEWS
Children registration will give children legal identity – Mandate Secretary
By Laide Akinboade, Abuja
The Federal Capital Territory (FCT), Mandate Secretary, of women Affairs secretariat, Dr Adedayo Benjamins-Laniyi, on Monday, said the registration of every child born in Abuja would give them the important legal identity they deserve.
The Mandate Secretary Women Affairs Secretariats stated this at the , mobilisation of residents for birth registration, through the traditional rulers in Abuja Municipal Area Council, (AMAC).
At the Palace of Sapeyi (Chief) of Garki, Alh. Usman Nga-Kupi, in Abuja, she said the exercise is meant for all children from Zero to five years.
Benjamins-Laniyi, said the social mobilisation was to ensure all children between the ages of zero to five years were registered and issued a birth certificate as a legal means of identification.
She stressed that, the move is to ensure that no child is left behind in the efforts to ensure absolute protection of all children.
She said that the birth registration campaign was being coordinated by First Lady Oluremi Tinubu across the country.
She said that the mobilisation of the traditional leaders and community members began on March 28 in Abaji Area Council and extended to the remaining five area councils of the FCT.
The mandate secretary said that the women affairs secretariat and its partners had received the blessing and cooperation of the royal fathers in the 17 Chiefdoms of the FCT.
According to her, “Through this partnership, we have taken the message of birth registration into palaces, homes, and communities across the FCT.
“Together, under the watch of our royal fathers, we are restoring the dignity of our children by ensuring that every child in the FCT is seen, counted, registered and protected.
“When a child is registered, the child is recognised; and when a child is recognised, the child can thrive,” she said.
She said that the mobilisation was being implemented with support from the United Nations Children’s Fund (UNICEF) in collaboration with the National Population Commission (NPC) and National Orientation Agency.
She identified other partners as the National Identity Management Commission, FCT Primary Healthcare Board, FCT Area Council Secretariat and the Association of Local Government Employees of Nigeria.
The Director, Child Development in the secretariat, Dr Idris Attah, explained that the mobilisation was to scale up birth registration in all the nukes and crannies of the FCT.
Attah added that the move was to ensure immediate issuance of the new digital birth certificates to children between ages zero to one year and ages between ages one to five years.
According to him, the registration is free to all children under five years in the FCT.
Mr Charlse Awuna, Child Protection Officer, UNICEF, said that the social mobilization for the birth registration would ensure that every child in the FCT has a legal identity.
According to Awuna, without a birth certificate, the child is not counted as a member of the community and as a citizen of the country.
“This is in line with the Renewed Hope Initiative of the First Lady Oluremi Tinubu, and this is why we are partnering with FCT women affairs secretariat to ensure that all children are captured in the population database.”
Also, Alh. Sulaiman Gada, NPC Director, FCT, noted that FCT was left behind in the birth registration of children under five years and commended FCT Administration for the efforts.
Gada stressed the need to effectively use traditional structures in every community “to ensure that every child is reached, registered and issued with a birth certificate.
He advised caregivers against laminating the certificate to prevent loss of data when uploading the document but preserve and protect the legal document.
Giving his royal blessings, Nga-Kupi welcomed the development and promised to mobilise all ward, village and district heads to ensure that all children in their domain were registered.
The success of the mobilization was highlighted by the immediate registration of King David Agazor, a three-month-old infant. His mother, Uchechukwu Ikechukwu, expressed her delight at the ease of the process.
”I’ve been trying since the first day that I gave birth… but my husband has been procrastinating about it.
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“When my neighbor told me that they are giving it for free, I rushed here—even without bathing the baby—and it was just easy. I’m very happy”, she shared

