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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_

Sahara weekly online is published by First Sahara weekly international. contact saharaweekly@yahoo.com

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APC member allegedly shot dead by SDP thugs in Kogi, security agents urged to invite Ajaka

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APC member allegedly shot dead by SDP thugs in Kogi, security agents urged to invite Ajaka

APC member allegedly shot dead by SDP thugs in Kogi, security agents urged to invite Ajaka

SECURITY AGENTS MUST FISH OUT, ARREST SDP THUGS WHO KILLED APC SUPPORTER – KOGI INDIGENES

. CALL ON PRESIDENT TINUBU, GOV. BELLO TO CALL MURITALA YAKUBU TO ORDER

. DON’T TAKE US TO OLD, DARK DAYS, INDIGENES WARN SDP, YAKUBU

 

 

 

Hundreds of Kogi indigenes, on Friday night, called on President Bola Tinubu and Governor Yahaya Bello to immediately put machineries in motion to curtail the excesses of thugs allegedly loyal to the Governorship Candidate of the Social Democratic Party in the state, Muritala Yakubu, accusing them of being behind the gruesome killing of a supporter of the All Progressives Congress in Kotonkarfe and many cases of violence recorded lately in the state.

 

 

 

 

 

The over 5000 indigenes,  under the auspices of Kogi for Kogites Movement, whose members are drawn from all the 21 Local Government Areas of the state, said from non-partisan information gathered from eyewitnesses at the scene of the event, it was reliably gathered that the SDP thugs attacked APC supporters who were on a peaceful rally in Kotonkarfe on Friday.

 

 

 

 

 

In a statement signed by the Coordinator, Kogi for Kogites, Ahmed Ojonugwa, the indigenes said the stock in trade of the SDP under the leadership of Yakubu was “to commit gruesome crimes and turn around to play the victim”.

 

APC member allegedly shot dead by SDP thugs in Kogi, security agents urged to invite Ajaka

 

 

 

The statement read in full:

 

“Miffed by apparent rejection by the people of Kotonkarfe during his rally and visit to the paramount ruler of the town, we have been reliably informed that thugs loyal to the Governorship Candidate of the Social Democratic Party, Muritala Yakubu Ajaka, committed a sacrilege by gunning down a lady, identified to have defected to the All Progressives Congress two weeks ago from the Peoples Democratic Party.

“From our non-partisan field polls today, September 29, 2023, it was reliably gathered from eyewitnesses that trouble started when the SDP supporters spotted the large crowd of APC supporters who were staging a solidarity walk in support of Alhaji Usman Ododo, the Governorship candidate of the party.

“Armed and hooded SDP thugs started shooting sporadically to disperse the APC supporters who were staging a peaceful walk. It was alleged that one Haruna Abacha, a supporter of the SDP in Kotonkarfe pulled the trigger that ended the life of the APC woman.

“The sacrilegious act of the SDP supporters is condemnable, criminal, undemocratic and should never be allowed to scale the hands of law.

“Their stock in trade is to commit gruesome crimes and turn around to play the victim.

“We call on the Governor of the state, Alhaji Yahaya Bello, and President Bola Ahmed Tinubu to ensure that these strange politicians, who have, right from the beginning of the SDP campaign, shown that they have nothing to offer Kogites other than hate campaign and violence, are seriously cautioned. Perpetrators of this gruesome act must also be immediately fished out and brought to book.

“Has anyone seen the Accord Governorship Candidate, Admiral Jibrin Usman (retd), being involved in this kind of senseless propaganda where human lives are traded? He is a well respected Igala man who has also pointed out the lies of the SDP in public fora.

“We call on the supporters of the APC not to take laws into their hands in the interest of patriotic indigenes. But if things go on this way, true sons and daughters of Kogi State would have no choice but to drag the SDP and its candidate to the highest courts of the land for this evil attempt to drag Kogi State back to the dark days.

“We also call on law enforcement agencies to immediately arrest the said Haruna Abacha and all his collaborators as well as question the security agents attached to the SDP candidate on why they watched thugs unleash mayhem on peaceful and defenceless people. This is unacceptable.”

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Gov Abiodun committed to rule of law, democracy”

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Gov Abiodun committed to rule of law, democracy"

Gov Abiodun committed to rule of law, democracy”

 

 

 

 

The commitment of the administration ofi Governor Dapo Abiodun in Ogun state to ensure the preservation of rule of law, battle corruption and protect tenets of democracy in the country has again been reiterated.

 

 

 

 

 

According to a top functionary of the government, apart from prioritising the welfare of the people, the administration is working hard to deepen the people’s beliefs in the nations democratic process.

 

 

 

 

 

Kayode Akinmade, a Chief Consultant on Media to the governor, who spoke while answering question of a television programme on Friday, said as a law abiding leader, the governor has always recourse to the judiciary to seek redress for himself and his administration whenever the need arises, rather than engage in self help.

 

 

 

 

Akinmade stressed that the decision of the governor to approach the court over the matter between him and the impeached chairman of Ijebu East Local Government Area, Wale Adedayo, is a demonstration of his belief in the rule of law and his indisposition to ‘rule of force’.

 

 

 

 

 

Adedayo appeared before a Magistrate Court at Isabo, Abeokuta, on a petition filed by the State government against him, over an earlier allegation of diversion of funds meant for Council Areas in the state. Governor Abiodun is insisting that the former Council boss must prove his allegations against his administration or face the the wrath of the law for falsely inciting the people against the government.

 

 

Gov Abiodun committed to rule of law, democracy"

 

 

 

Adedayo was arraigned on a two-count charge. According to Akinmade, it is wrong for people to rush to accuse the governor of persecuting Adedayo, who according to him, have “severally apologised to the governor in private while continuing with his ill-motivated misinformation in public.”

 

 

 

 

 

 

“The governor believes that taking Adedayo before the court will deepen our democracy and entrench the rule.of law. Unlike some other people in Governor Abiodun’s shoes who would readily recourse yo sending thugs after and unleashing other forms of violence on those who accused them rightly or wrongly, “our governor decided to seek redress in court. I think he should be commended by all and sundry for this. What he is doing is giving Adedayo a chance to prove his allegations.”

 

 

 

 

 

Speaking on the allegation by the impeached chairman that the governor is behind his removal, Akinmade said Adedayo was already facing removal from office before he raised the false alarms.against the governor. “He has already been accused of several impeachable offences before he wrote the letter alleging the governor. He had already reached out to the governor and other leaders of the party to help him stave off his removal. It was when he realized he may not survive the impeachment move that he connived with some other unscrupulous politician in the party to malign the governor and discredit the APC in Ogun state,” Akinmade said.

 

 

 

 

 

The Media chief added that claims.by Adedayo that he got zero allocation since he became.chairman of his local government were probed wrong by the FAAC committee in the state when the House of Assembly looked into his petition. He recalled.that other council chairmen in the state also debunked the allegation and even brought Adedayo with them to apologize to the governor for the wrong allegations. “But in spite of all these, he didn’t stop his scripted plot to tarnish the image of the governor. Hence, Governor Abiodun approached the court for redress.”

 

 

 

 

 

Speaking further, Akinmade recalled.that the impeached council boss has been in office for more than two years. “One then wonders why he is raising this alarm now. He claimed zero allocation but he has been collecting his monthly N3million security votes regularly. Local government staff in his LGA are not being owed and primary school teachers there are paid as at when due. We all should be asking him to explain what he meant by zero allocation,” he said.

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Sanwo-Olu Gifts Palliatives To Lagos Safety Officers Amidst Excitement

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Sanwo-Olu Gifts Palliatives To Lagos Safety Officers Amidst Excitement

LNSC Officers Get Palliatives, Commend Sanwo-Olu

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Sahara Weekly Reports That Governor Babajide Olusola Sanwo-Olu’s has as part of the efforts to ameliorate the effect of the removal of the Petroleum subsidy extended palliatives to Officers of the Lagos State Neighbourhood Safety Agency.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Sanwo-Olu Gifts Palliatives To Lagos Safety Officers Amidst Excitement

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The General Manager of the Agency, Prince Dr Ifalade Oyekan FISN, while overseeing the distribution of the palliative to Non-commissioned Officers of the Agency, expressed delight at the various efforts of the Governor aimed at ensuring Officers of the Agency serve residents and visitors to Lagos State effectively and efficiently.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ifalade implored the Officers to remember that the palliatives are part of the motivation for a better and more efficient Officer Corp and reciprocate the gesture with dedication and commitment to manifest the safer Lagos vision of the Governor.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

He said, “You need to realize that Lagos State has several Agencies and putting you among the priority cadre should motivate you to work with dedication and commitment. A safer Lagos which is the dream of Mr. Governor is achievable and that is why this government puts your welfare at the top of its list of needs, just as it expects you to put the good people and their safety at the top of your priority as Officers.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

”Some of the Officers who spoke at the presentation commended Prince Oyekan for his zeal at rebranding the Agency and thanked Mr. Governor for the palliatives. One of the Officers said, “It’s quite amazing the way the Governor treats our Agency. We are one of the Agencies that gets constant attention from him at all critical times; providing necessary tools for our work, improving the welfare and commending our work.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

A female Officer said, “I am short of words. I am just short of words. This to many people may look like a token, but I can’t tell you how this will help me as a single mother with an aged mother to feed at home. Thank you, our dear Governor,”.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The distribution will be done in batches, starting from the most vulnerable.

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