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Unlocking Nigeria’s Potential: The Commercial and Industrial Pathway

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Unlocking Nigeria's Potential: The Commercial and Industrial Pathway

Unlocking Nigeria’s Potential: The Commercial and Industrial Pathway

Nigeria, often hailed as the “Giant of Africa” holds a reservoir of untapped potential and a plethora of opportunities captivating the interest of investors and visionaries worldwide.
Amidst discussions about technology, mineral wealth and export potential, the power sector, an underestimated cornerstone of advancement, often remains in the shadows.
As someone who has navigated the realm of financing large-scale infrastructure projects, I find myself drawn to view Nigeria’s prospects through a financial lens. The inevitable question surfaces: What truly entices energy investments in our land of promise?
Unlocking Nigeria's Potential: The Commercial and Industrial Pathway
Beyond Population and Mineral Wealth: The Power Sector’s Pivotal Role.
While the appeal of technology, Nigeria’s demographic dividend, and its mineral wealth are evident, the significance of the power sector often fades into the background.  Yet, this sector forms the foundation of progress and deserves greater attention.
 Historically, advanced nations didn’t solely rely on technological advancements, skilled labour, or mineral resources for their development. Prioritising the consistent and reliable supply of power to industries was the true catalyst for their growth.
Navigating Complex Challenges: A Financial Perspective
Drawing from my experience of financing large infrastructure projects, embarking on grid-based power initiatives in Nigeria involves navigating a complex web of challenges, financial limitations, infrastructural gaps, bureaucratic intricacies, and technical hurdles that converge to create significant obstacles. For power investors seeking to secure support from financiers—banks or private equity firms— demonstrating a project’s “bankability” becomes crucial. This involves a detailed evaluation of factors consumer tariffs, collection currency, and the purchasing power of the end user.
Mitigating Risks: Sovereign Guarantees and Innovations
Prevailing wisdom dictates that bolstering Nigeria’s energy output through robust national grids will drive economic growth and pave the way for equitable development and industrialisation. However, the stark contrast between the nation’s energy demand – a staggering 600 terawatt-hours ( equivalent of power for 216,000,000 million homes) – and the reality of numerous signed Independent Power Projects (IPPs) that remain unrealised, highlights a critical issue. The conventional on-grid solutions, once hailed as the panacea for Nigeria’s energy challenges, appear to be faltering under the weight of a myriad of complex obstacles.
Investments into Nigeria are often in dollars, introducing the spectre of currency risk, purchasing power discrepancies, and political volatility. The fact remains most Nigerian retail consumers presently are unable to afford the cost of power and in turn Nigeria is often unable to meet debt obligations linked to on-grid power projects funded in foreign currency. Risk mitigation tools, including sovereign guarantees and Power Contract offtake Agreements (PCOAs) aim to alleviate these concerns.
However, a sovereign guarantee or a PCOA goes on the balance sheet of a nation, and at times can affect the credit rating of the country. Given the complications with bankability, a recent trend sees Nigeria and other developing nations cautiously managing their financial obligations to avoid unsustainable burdens.
A Paradigm Shift: Igniting the Commercial and Industrial Sector
Notably these challenges are not unforeseen. Industrialised nations didn’t achieve development by solely focusing on supplying retail power. Sustainable provision of power to industry drove industrialisation, generated employment, increased purchasing power, thereby bolstering affordability of power, paving the way for widespread electrification and development. The inability to ensure reliable power for industry, in particular, acts as a brake on economic growth.
The time is ripe for an innovative shift, one that ensures economic empowerment and fortifies the foundation for a resilient future – channelling efforts to fulfil the energy demands of the commercial and industrial (C&I) sector. This sector, characterised by its steady energy needs and robust purchasing power, emerges as a catalyst for transformative energy strategies. New power projects sprucing up in industrial clusters will fuel phenomenal growth. By delivering consistent power to these sectors, Nigeria can spur industrialisation, facilitate long-term job creation, and foster sustainable economic autonomy.
Short-term Impact, Long-term Vision
In a most recent trip to India, President Bola Ahmed Tinubu GCFR gained a commitment from a consortium of investors to put  $1.6 billion into power. Channelling that pledge towards C&I energy provisioning yields immediate benefits. An influx of economic vigour, encouragement for local industries, and an inviting atmosphere for both local and foreign investments set the stage for rapid growth. However, this strategic pivot carries implications beyond immediate wattage gains.
 A flourishing C&I sector paves the way for a resilient grid-based power system, stimulating infrastructure development. Meeting the ambitious demand for 708 terawatt-hours by 2030 isn’t just a goal; it’s a catalyst for job creation, economic vitality, and increased income.  As industries flourish and energy demands continue to grow, the impetus and capacity for further infrastructure development becomes undeniable. This strategic shift not only addresses the immediate need for energy to spur industrialisation but also sets the stage for robust economic growth.
A Bright Future Beckons: Pioneering Prosperity
The commercial and industrial pathway, marked by its innovation and strategic focus, offering  a promising route to unlock the nation’s true potential is where Nigeria’s energy resurgence resides.
Ploughing the route successfully necessitates collaboration. The private sector should leverage expertise and drive innovation. Government entities and appointees must be proactive following Mr President’s lead, streamline processes, provide clarity, efficiency and ease of procedure, thereby communicating that Nigeria is ready for business.
 Our collective will and innovative spirit fuel Nigeria’s potential. With the renewal of hope comes the awakening of the Giant of Africa – together, we forge a path of progress.
Olu Olufemi-White
Instagram: @oluwhite
Twitter: @oluwhite_

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Youth Ambassador, Idahosa Makes Case for State Diaspora Agencies

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Youth Ambassador, Idahosa Makes Case for State Diaspora Agencies

 

Ambassador Collins Idahosa, Governor of the National Youth Council of Nigeria (NYCN), European Chapter, has called on Nigerian authorities to consider institutionalising diaspora agencies at state level across the nation.

Idahosa, who is also the Brand Ambassador for The Global Clusters, a networking platform for entrepreneurs and nation builders, emphasised that the importance of the agency for national development cannot be overstated.

In a statement to THECONSCIENCE NG on Wednesday ahead of his birthday on Thursday, the youth ambassador urged Nigerian states to take a bold and strategic step in that regard.

According to the birthday message and call to action titled “State Diaspora Agencies: A Missing Link in Nigeria’s Development Strategy,” while the federal government has made commendable efforts through the Nigerians in Diaspora Commission (NiDCOM), meaningful diaspora engagement must also be embraced at the state level.

“States must take ownership of engaging their own citizens abroad—those who maintain family ties, support community projects, and wish to be part of their state’s future.”

The statement noted that “in 2023 alone, remittances from Nigerians abroad exceeded $20 billion—a figure that surpasses foreign direct investment and official development assistance combined.

“These funds support millions of households, drive local businesses, finance education, build homes, and provide emergency relief. However, beyond remittances, the Nigerian diaspora contributes through skills transfer, investments, technology partnerships, and global advocacy. These contributions reflect a deep connection to home and an untapped resource for structured development.”

The Global Clusters Ambassador commended Edo and Kwara states, which he said “have taken deliberate steps to establish diaspora-focused agencies and offices.”

He remarked: “The Edo State Diaspora Agency, recently reinforced by the appointment of Dr. Loretta Oduware Ogboro-Okor as Director-General, stands as a commendable example of institutionalising diaspora engagement. Similarly, Kwara State’s Office of Diaspora Matters reflects a forward-looking vision by recognising the value of its global citizens.”

He also acknowledged states such as Abia, Ondo, Lagos, and Anambra for appointing Commissioners or Special Assistants for Diaspora Affairs.

He insisted that while these efforts are encouraging, they are insufficient, as a Commissioner or Special Assistant can drive political will and offer visibility, but without a formal agency, there is no continuity, resource mobilisation, or programme implementation.

He further explained that a dedicated diaspora agency provides a permanent institutional framework for planning, coordination, monitoring, and evaluation of diaspora engagements.

He stated that it also enables states to align policies with NiDCOM and benefit from federal-level support and bilateral diaspora partnerships.

Speaking further, he explained that beyond government initiatives, innovative platforms like The Global Clusters, led by Ambassador Adekunle Badmus, are already pioneering solutions that align with this vision. As a Brand Ambassador for The Global Clusters, Idahosa said he has seen firsthand how this dynamic global platform is transforming engagement among entrepreneurs, professionals, and technocrats, fostering strategic connections and sustainable development.

He concluded that state governments must explore partnerships with platforms like The Global Clusters to maximise the contributions of their diaspora populations, drive innovation, and create sustainable economic opportunities.

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London Bubbles As Angel Global Promotions, Jummiey Entertainment Host Musibau Alani, Lateef Student Fuji at ‘Itunu Awe Show’

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London Bubbles As Angel Global Promotions, Jummiey Entertainment Host Musibau Alani, Lateef Student Fuji at ‘Itunu Awe Show’

London Bubbles As Angel Global Promotions, Jummiey Entertainment Host Musibau Alani, Lateef Student Fuji at ‘Itunu Awe Show’

The Nigerian community in the United Kingdom will be agog on Friday, April 4, 2025, as iconic Fuji musician, Alhaji (Chief) Musibau Alani a.k.a. Comma and rave Fuji singer, Alhaji Lateef Student Fuji the Aare Maiyegun Fuji 1, takes the stage to thrill funseekers at this year’s Eid-el-Fitri show tagged ‘Itunu Awe Dance’.

London Bubbles As Angel Global Promotions, Jummiey Entertainment Host Musibau Alani, Lateef Student Fuji at ‘Itunu Awe Show’

According to Princess Adetutu Jakande, CEO of Angel Global Promotions UK, the organizers of the event in conjunction with Jummiey Entertainment, the event is organized annually to mark the Islamic festivity after the 30-day Ramadan fasting, and the 2025 edition is going to be unique with colours featuring various other entertainment activities.

The event billed to be held at The Redemption House on Peckham Street, London SE15 5EB, will feature other entertainers like Okin Lokoso and Alex Bio and more.

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Terror Strikes Again: Soldiers Feared Killed as Boko Haram Attacks Military Base in Borno

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Terror Strikes Again: Soldiers Feared Killed as Boko Haram Attacks Military Base in Borno

Terror Strikes Again: Soldiers Feared Killed as Boko Haram Attacks Military Base in Borno

A yet-to-be-confirmed number of Nigerian soldiers were feared killed on Monday as Boko Haram insurgents launched a deadly attack on a military base in Sabon Gari, Damboa Local Government Area of Borno State.

According to local sources, the attack unfolded in the evening when heavily armed insurgents stormed the military formation, firing indiscriminately and causing massive casualties. While the exact number of dead and injured soldiers remains unclear, witnesses confirm that the assault led to significant losses.

Reinforcements Caught in Deadly Explosion

Amid the chaos, tragedy struck again when military reinforcements rushing to the scene hit a landmine, triggering a deadly explosion. A resident of Damboa, Abba Usman, recounted the harrowing moment:

“I do not have much information, but I can confirm that there was an attack and soldiers were killed. We also heard that reinforcements stepped on something like a bomb, and it exploded.”

A military source also confirmed the attack, stating:

“Many soldiers were killed, but the figure is currently not known.”

Conflicting Reports on the Incident

While some reports indicate a coordinated insurgent attack, officials have offered a slightly different account. The Borno State Commissioner for Information and Internal Security, Usman Tar, confirmed an explosion but insisted it was an accidental detonation of an improvised explosive device (IED), not a direct attack.

“I can confirm there was an IED attack in a place called Wajiroko (under Damboa). Our military personnel stepped on an IED. We lost one, and one sustained an injury. It was not an attack; it was an IED our soldiers stepped on,” Tar stated.

Despite these official claims, eyewitness accounts and military insiders suggest the incident was far deadlier than authorities are acknowledging.

Army Chief Calls for Stronger Counterterrorism Strategy

As the security situation in Borno continues to deteriorate, Chief of Army Staff, Lt. Gen. Olufemi Oluyede, has called on military commanders to enhance collaboration with key stakeholders to combat terrorism effectively. Speaking at the First Senior Command and Leadership Seminar in Nasarawa State, Oluyede emphasized the need for joint efforts between the military, security agencies, and local communities.

“These stakeholders are pivotal to addressing the prevailing security threats within your areas of responsibility. A strategic and integrated approach is essential for long-term national stability,” he stated.

With rising insurgent attacks and growing concerns over military casualties, Nigerians are demanding greater transparency and stronger action from security forces. Will the military rise to the challenge, or is Boko Haram gaining the upper hand once again?

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