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Sahrawi Arab Democratic Republic Seeks Nigeria’s Support on Referendum

Michael Olugbode in Abuja

The Sahrawi Arab Democratic Republic has approached Nigeria to join other friendly nations across the world to pressurise Morocco into agreeing to convocation of referendum to determine the political status of Western Sahara.

The Minister of Foreign Affairs of the Sahrawi Arab Democratic Republic, Mohamed Yeslem Beissat, who was in Nigeria to state the position of his country on the Western Sahara issue and plead for support on resolution of the crisis, paid a visit to the National Assembly and had discussion with his Nigerian counterpart, Ambassador Yusuf Tuggar.

Speaking to journalists in Abuja after the meetings, Beissat said for the peace of the Maghreb, Morocco must be compelled to respect the political wish of the people of Western Sudan which can only through a referendum.

He said: “Morocco’s colonial adventure is very costly. America, with all its might and its richness, couldn’t continue its colonial adventure in Iraq or in Iran or in Afghanistan or in Somalia. It’s very costly to oppress people.

“You think it will end this year, but it will never end. So it costs Morocco from 3.5 per cent to 4.0 per cent of its gross domestic Product (GDP). Annually, it’s costing this military exercise.

“Morocco has the longest berm in the world. It’s longer than the berm between the US and Mexico. It’s longer than the two berms France built in the Algerian War, Charles and Maginot.

“It’s longer than the Berlin Wall. The wall that Israel built to protect Sinai. It’s the longest wall in the world, 2,700 kilometres, running from South Morocco to North Mauritania. In this wall, stationed there are more than 120,000 soldiers to occupy this land.

“It is going to double the salary of the soldiers, buy very sophisticated drones and satellites, all to continue its illegal occupation of Western Sahara, which cannot be continued. So the economic and finance and political costs in the terms and image of Morocco and its relations with its neighbours. It’s very, very costly.

“Now, the whole of the region of the Maghreb is blocked. There is no regional cooperation or regional integration because of the position of our three neighbours. Two of them recognise us, which is Algeria and Mauritania.

“And Morocco is the only one who doesn’t recognise us from our neighbours. And this really causes Morocco a big problem. Their relation with Europe is frozen because of the European court ruling on Western Sahara.

“It cannot continue a relation ignoring this, and he cannot stop a relation because Europe is so important for them. Their relation with the United Nations, their relation with the world, Morocco is the biggest prison of its colonial adventure, its failure of its colonial adventure. Now they are making a lot of noise about autonomy, but it’s a cul-de-sac.”

“It’s a closed road, anyone cannot accept one single, one-sided position to be imposed on a people. No one can support that.

“Every man or woman in their right mind, cannot say we have to oblige the Sahrawis and handcuff them and deliver them because the king said autonomy. This is nonsense. This is another world.

“Not the king can rule people. It’s a time of democracy, time of legality. People have to have choices, people have to choose freely what they think is right for them.”

Michael Olugbode in Abuja The Sahrawi Arab Democratic Republic has approached Nigeria to join other friendly nations across the world to pressurise Morocco into agreeing to convocation of referendum to determine

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Day of the African Child: UNICEF Urges FG to Prioritise Children in Budget Implementation

Funmi Ogundare

The United Nations Children’s Fund (UNICEF), Tuesday, called on the Nigerian government, particularly the Lagos State Government, to prioritise children in budget planning and implementation, warning that insufficient and inefficient budgeting is undermining the realisation of children’s rights across the country.

Speaking at a media dialogue on public spending for children’s right in collaboration with the Lagos State Ministry of Planning and Budget, to commemorate the 2025 Day of the African Child ( DAC), the Chief of UNICEF’s Field Office for Southwest Nigeria, Celine Lafoucriere, explained that while budgets are often allocated for children, the real issue lies in whether those funds are reaching the intended beneficiaries and whether children’s welfare is truly being prioritised in Nigeria’s fiscal strategy.

“Budgeting for children shouldn’t be treated as a separate exercise,” Lafoucriere stated. “It should be embedded in the core planning for Nigeria’s population, guided by concrete data on where the most vulnerable children are, and what their needs are in terms of clean water, education, healthcare, nutrition and protection.”

She revealed that UNICEF has been working closely with the Lagos State Ministry of Economic Planning to improve transparency and accountability through the creation of a dedicated budget code. This system allows for every naira spent on child-related programmes to be tracked, ensuring visibility and helping to monitor real impact.

She stressed that allocation alone is not enough. “Once the budget is attributed, it must be spent. Lagos and UNICEF are working together on this, but we all know it’s not sufficient.”

Despite ratifying the UN Convention on the Rights of the Child in 1991, Nigeria continues to grapple with stark indicators of child welfare. Lafoucriere cited persistently high rates of malnutrition in the South-west, among the worst in the country alongside alarming levels of school dropouts and child abuse, as signs of a serious implementation gap.

“In a place like Lagos, education is still largely self-funded by schools and families,” she said. “Where is the investment in protecting children, in giving them a fair start in life? These are not luxuries, these are human rights.”

She appealed to the media and civil society to hold governments accountable while calling for unified advocacy.

“The Lagos State Government has a social contract not only with its adult population but with every child. We must remind them of that duty. If children and youth are not prioritised today, then the Lagos of tomorrow is at risk,” she stated.

Speaking with journalists, the UNICEF Programme/Social Policy Manager, Muhammad Okorie, emphasised that while most Nigerian states are budgeting for children, wide disparities exist in how effectively those budgets are translated into tangible benefits for children.

“Every state in Nigeria budgets for children in one form or another,” Okorie noted, “But the issue is not just about allocation, it’s about actual spending, equitable distribution, and evidence-based decision-making. Many states may meet or exceed budget benchmarks on paper, but the real test is in what gets implemented and how it impacts children.”

He acknowledged that Nigeria is on the right path in terms of intent and that many state governments have integrated child-focused policies into their development plans and medium-term sector strategies. However, Okorie pointed out that intentions must be backed by strong financial commitment and implementation.

“For a government to be judged serious about child rights, it must reflect in how it budgets and spends,” he said. “Until all the rights of all children are fulfilled, we cannot rest. The principle is simple: leave no child behind.”

Okorie urged governments to adopt a ‘child rights lens’ when making fiscal decisions, noting that even well-intentioned plans can fail if they are not inclusive or data-driven and investments are not reaching the most vulnerable children in every community.

He also stressed the need for full engagement of children and youth in the budgeting process, saying: “Children know what they need. When you involve them in decisions, it leads to better outcomes and greater accountability.”

The programme manager emphasised on monitoring and evaluation, saying: “We shouldn’t wait until the end of the year to ask what was done. From day one, the media, civil society, and the public must track projects, follow the money, and report what they see. Budgeting is not just about money, it’s about the lives of real children, and every naira must speak.”

Funmi Ogundare The United Nations Children’s Fund (UNICEF), Tuesday, called on the Nigerian government, particularly the Lagos State Government, to prioritise children in budget planning and implementation, warning that insufficient

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PoPAN’s Biennial Conference Rallies Psychologists to Embed Resilience in National Dev’t

Funmi Ogundare

The President, Positive Psychology Association of Nigeria (PoPAN), Prof. Adebayo Oluwole, has called on scholars, practitioners and the broader psychological community to move beyond theory and engage actively with Nigeria’s evolving mental health landscape.

Oluwole made this call at the second biennial conference of the association themed, ‘Thriving in a Changing World: Harnessing Resilience and Connection’, held at the Lagos State University of Education (LASUED) Epe Campus, to commemorate the 2025 Day of the African Child.

The conference brought together academics, mental health professionals and policy advocates to explore how positive psychology can help Nigerians adapt and thrive in a changing world.

The president praised the increasing integration of positive psychological principles such as gratitude, hope and purpose into Nigerian research, education and practice since the association was founded in 2020.

“This conference is more than a gathering of minds; it is a space for renewal,” Oluwole said. “Our mission is not just to understand how individuals thrive, but to use that knowledge to make a tangible impact in communities across Nigeria.”

He highlighted key challenges still facing the country such as rising mental health concerns, growing social isolation, and the emotional struggles of Nigerian youth. “We are called to action,” he stated. “To inform practice with science, to listen deeply, to promote dignity and equity, and to ensure our systems support holistic well-being.”

The Head of Department, Clinical Unit of the Psychology Department at Lagos State University, Prof. Kayode Onaolapo Taiwo, called for a national commitment to building systems that foster psychological resilience and authentic human connection.

He described these two factors as essential for societal survival and thriving in today’s turbulent world.

He emphasised that thriving in a changing world goes beyond individual strength. “Resilience is no longer about just bouncing back, it’s about growing through adversity. And connection is not a luxury, it’s a social and psychological necessity,” he stated.

Drawing on decades of psychological and neuroscientific research, Taiwo challenged policymakers, educators, health professionals and community leaders to embed resilience and connection into the very design of Nigerian schools, workplaces, urban infrastructure and governance systems.

In her keynote, a Counselling Psychologist from the University of Lagos, Prof. Ngozi Osarenren, emphasised that resilience and meaningful social connection are essential tools for individuals seeking to navigate today’s fast-changing, unpredictable world.

She underscored the urgent need to shift from merely coping with challenges to intentionally cultivating resilience and nurturing supportive relationships.

“To truly thrive, not just survive, in our ever-changing world, individuals must build resilience and strong connections,” she stated.

Resilience, according to Osarenren, is not a fixed trait but a dynamic process that can grow over time with the right strategies and support. Citing Metais (2022), she explained that resilience fluctuates in response to stressors and adversity, and must be actively nurtured through intentional practices such as mindfulness, self- awareness, emotional regulation, continuous learning and problem solving.

She urged participants, especially those in psychology and counselling professions, to move beyond simply building resilience in clients and communities, and to instead nurture it intentionally and continuously.

“Let us all prioritise resilience and connection in our own lives and the lives of those we serve,” she said. “They are not just helpful tools, they are essential infrastructure for thriving in the face of change.”

Funmi Ogundare The President, Positive Psychology Association of Nigeria (PoPAN), Prof. Adebayo Oluwole, has called on scholars, practitioners and the broader psychological community to move beyond theory and engage actively

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Ekiti 2026: Wake from Your Slumber, CNPP Charges Oppositions Parties

Gbenga Sodeinde in Ado Ekiti

Political parties in Ekiti state have been charged to wake up from their slumber and be alive to their responsibilities ahead of the gubernatorial elections in the state.

The Conference of Nigeria Political Parties (CNPP) made this call in Ado Ekiti the Ekiti state capital during its monthly meeting.

CNPP said the it was high time the oppositions in the state woke from their slumber and get into action by making their relevance felt.

Speaking, CNPP leader, Pastor Victor Akinola, said it is dangerous and unhealthy for the oppositions to go and sleep like they are doing currently in the state.

The Ekiti CNPP observed that political situation in the state is currently look warm and not good enough for the democracy in view of inactiveness of the opposition in the state, adding that the situation, if allowed to continue, may give room for insensitivity on the part of the ruling party and thereby lead to situation whereby the government in power will be reckless, neglect its primary duties and responsibilities to the people in the state.

The group, however, pointed out with commendation to the state Governor, Mr. Biodun Oyebanji whom they described as committed welfarist, who they have seen to have the love of the people of the state in heart in view of his pro-people’s programmes that his government has been seriously committed to in the state

They hailed Governor Oyebanji on the Rural Access and Agricultural Marketing Projects initiatives across the 16 local governments but advised him to reintroduce the five km road project as it would add more value to the lives of people in rural communities.

In a related development, the body showered encomium on the duo of Senator Opeyemi Bamidele and Air Vice Marshall Niyi Ojuawo for their recent empowerments and charged them to look beyond this and not to limit further empowerment to Party members alone for the Party belong to all.

The political pressure group also extended hearty congratulations to His Excellency, President Bola Ammed Tinubu, on his second year anniversary of his transformative leadership on his bold economic reforms to strategic global engagement, from repositioning our national image and his love for Ekiti State.

Gbenga Sodeinde in Ado Ekiti Political parties in Ekiti state have been charged to wake up from their slumber and be alive to their responsibilities ahead of the gubernatorial elections in the

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Experts Discuss Nigeria’s Digital Future at DOA’s Business Series

Commercial law firm Duale, Ovia & Alex-Adedipe (DOA) recently convened a high-powered gathering of policymakers, investors, founders, and regulators for its 4th annual TMT Business Series in Lagos.

Under the theme, “Beyond the Startup Frenzy: Building the Infrastructure for a Digital Nigeria,” the forum served as a critical platform to move beyond the initial excitement of the startup boom and strategically chart the course for Nigeria’s robust digital economy. The series kicked off with a DOA Partner, Omowunmi Sanni, who emphasised the urgent need for strengthening the legal, financial, and regulatory systems to foster scalable innovation. She reiterated DOA’s commitment to enabling business growth through strategic legal support and cross-sector collaboration.

The keynote address was delivered by the Honourable Minister of Communications, Innovation and Digital Economy, Dr. Bosun Tijani. He spotlighted national initiatives designed to propel Nigeria’s digital transformation, including the Three Million Technical Talent (3MTT) Programme, the National Artificial Intelligence Strategy, and the country’s ambitious broadband expansion goals.

He stressed the paramount importance of digital infrastructure and inclusive policy frameworks in bridging economic divides and driving long-term transformation.

During a subsequent fireside chat moderated by Lehle Balde, Dr. Tijani further underscored the foundational role of identity systems, payment infrastructure, and data interoperability in building a truly competitive digital economy.

The forum then delved into two expert-led panels. The first, “Tech Profitability Playbook – Who’s Really Winning?”, moderated by Esohe Ibinoba (Venture Builder), featured industry veterans like Managing Partner, Octerra Capital, Ashim Egunjobi and Managing Partner, Ventures Platform, Dr. Dotun Olowoporoku. Discussions revolved around crucial aspects such as sustainability, value creation, founder evolution, and the imperative to digitise Nigeria’s informal sector.

The second panel, “Innovation & Regulation – Finding Common Ground,” moderated by Director, Government Affairs and Policy, Mastercard, West Africa, Morayo Adebayo Adisa, brought together key figures including Honourable Commissioner, Ministry of Innovation, Science and Technology, Lagos State, Olatunbosun Alake and Head of Legal, Federal Competition and Consumer Protection Commission (FCCPC), Florence Abebe. This session explored vital themes like inclusive policymaking, regulatory agility, consumer protection, compliance by design, and the implementation of regulatory sandboxes for digital innovation.

A key highlight of the event was the highly anticipated pitch competition, where 11 innovative startups showcased solutions spanning health, fintech, sustainability, and education.

Trashcoin Limited emerged as the grand winner, receiving N10 million in legal services. Kryptr IP Enterprise Limited and Pay U Technology Limited also secured significant legal representation awards of N5 million and N3 million, respectively. The judging panel featured prominent investors such as Managing Partner, Kaleo Ventures, Iretimipo Kukoyi and Co-Founder, CardinalStone Capital Advisers, Yomi Jemibewon.

Commercial law firm Duale, Ovia & Alex-Adedipe (DOA) recently convened a high-powered gathering of policymakers, investors, founders, and regulators for its 4th annual TMT Business Series in Lagos. Under the theme, “Beyond the

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Tuggar: Maiden West Africa Economic Summit’ll Provide Solutions to Fast-track Economic Integration

The Minister of Foreign Affairs, Ambassador Yusuf Tuggar, has said the maiden West African Economic Summit (WAES) is not just about policy, but a practical solution to fast-track economic integration in the region.

Tugger said this on Tuesday this during a media parley with journalists in Abuja, while reaffirming Nigeria’s readiness to host the event scheduled from June 20 to 21.

According to him, the summit is an initiative of President Bola Tinubu, aimed at advancing trade relations, market economy among Small and Medium Scale Enterprises (SMES) in the sub-region.

”It is with a deep sense of honour and responsibility that I announce Nigeria’s readiness to host the WAES 2025 under the chairmanship of President Tinubu.

”This important economic gathering is aimed at unlocking opportunities that abound in the region and to serve as a strategic platform for shaping the economic future of our region.

“WAES will convene Heads of States, Ministers, private sector leaders, development partners, as well as youth innovators from across West Africa and beyond.”

The minister said that the summit would boost economic integration of West African countries through partnership in the economic sector, among others.

He added that the summit would also foster cross border trade relations in line with the Economic Community of West Africa State (ECOWAS) vision.

On sustaining the WAES initiative, Tuggar noted that the success of the summit would drive future events, explaining that the whole idea was to partner the private sector in promoting regional integration.

He revealed the Nigerian government’s partnership with the United Nations Development Programme (UNDP) to extend WAES ownership to the entire sub-region.

”Recently, we launched a partnership with the UNDP. The whole idea is to create a template that is not going to be owned by Nigeria alone, but by the entire region and all the countries that choose to adopt it and utilise it.

”The template will also strengthen the institutions; tackle the perennial challenges that are caused by misinformation/disinformation, engage the civil society, so that there is more understanding between government and the people.

”It will further strengthen the social contract,”Tuggar explained. (NAN)

The Minister of Foreign Affairs, Ambassador Yusuf Tuggar, has said the maiden West African Economic Summit (WAES) is not just about policy, but a practical solution to fast-track economic integration

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Kano Gov to Receive Media Award at NUJ 70th Anniversary

Ahmad Sorondinki in Kano

Kano State Governor, Abba Yusuf, has been nominated to receive Media Friendly Award by the national leadership of the Nigerian Union of Journalists (NUJ) for his contributions to national development, and promotion of good governance,

In a statement issued by the state Commissioner for Information and Internal Affairs Ibrahim Waiya, the award is in recognition of Yusuf’s support for press freedom and the advancement of the media profession in Nigeria.

He said the NUJ also cited the governor’s exemplary leadership style and steadfast dedication to public service as key factors that earned him the award.

“The Media Friendly Award will be presented to Governor Abba Kabir Yusuf at the NUJ’s 70th Anniversary Awards and Gala Night, scheduled to take place on Saturday, 21st June, 2025, in Abuja.”

“The Ministry of Information and Internal Affairs commends the NUJ for this noble gesture and reaffirms the commitment of the Kano State Government to upholding the values of transparency, accountability and press freedom, which is an essential pillars of democracy”

“On behalf of the Government and people of Kano State, we congratulate the Governor on this well-deserved honour and express our profound appreciation to the Nigerian Union of Journalists for recognizing his impactful leadership and media-friendly disposition” the statement added.

Ahmad Sorondinki in Kano Kano State Governor, Abba Yusuf, has been nominated to receive Media Friendly Award by the national leadership of the Nigerian Union of Journalists (NUJ) for his contributions

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Adeniran: We Need More Young Nigerians Like Adewole Adebayo To Lead The Nation

Professor Tunde Adeniran, a former Minister of Education and Nigerian ambassador to Germany, in this interview, shares his thoughts about Nigeria, her politics and the need to have young generation politicians to drive and lead the country to the next level

Nigeria just celebrated Democracy Day on Thursday, June 12; did that day have any nostalgic feeling for you? If yes, can you share those feelings with Nigerians?

I feel there is a need to get the essence and symbolism of June 12 right. Marking it as a national day should remind us of four categories of people. The first groups of people are those who worked diligently and with great sacrifice and patriotic zeal to prepare the ground for a most transparent, free and fair election. The second are the officials who worked hard with determination and a sense of history and patriotism to carry out the actual conduct of the election. The group includes all those who executed the annulment of the election and frustrated efforts at an early restoration of democracy. And the last group comprises those who made all sorts of sacrifices to ensure the eventual restoration of democracy in Nigeria. The roles of each category have a lot to teach us in Nigeria’s journey of democracy, whose destination goes beyond the mere exercise of voting to having good governance in the interest of the people.

Since 1999 when Nigeria returned to democratic governance, it has been like one step forward and three steps backward in terms of development. Corruption is on the increase, purchasing power of the masses has gone and almost nothing is working again in Nigeria, except politics. How did we get to this sorry state as a people?

It is true that development has been difficult to achieve since 1999 due to corruption and other social vices. There is certainly no way you can have meaningful and sustained development with the type of Constitution that we have. The constitution has so many lapses apart from being an imposed Constitution. Among other things, education is the key to development but the Constitution doesn’t make access to free and compulsory education up to the basic education level justifiable in the national interest.

As a former Minister of Education, what’s your view on the management of our education system, given that more schools are built but the level of illiteracy is low as exemplified in the half-baked graduates all over the place?

There is a need for restructuring and reorientation in the education sector. I understand that the Minister of Education is working on various plans to bring back the lost glory in the education sector.

We seem not to have specific criteria in our leadership recruitment process. We reward only loyalty rather than capacity and efficiency. What is the best way to resolve the question of the recruitment process in Nigeria? What are your thoughts about that?

I have written extensively on the faulty process through which many Nigerian political leaders emerge. I believe that even if loyalty is going to be used as criteria, the critical question should be: loyalty to who? Is it loyalty to an individual, ethnic nationality or the emerging Nigerian nation? Training and background experience, capacity and capabilities, and of course, perspectives and vision, should always guide us in the process of leadership recruitment.

President Bola Tinubu has just spent two years in office on May 29; what is your assessment of the Tinubu administration in the last two years?

Certainly, Nigerians are yearning for decisive steps to be taken to ensure the security of lives and properties and turn the economy around for the better. Nigerians are still full of expectations. Their expectations have not been met at all.

At the moment, apart from Tinubu, Atiku Abubakar and Peter Obi, there are a few youngsters who are aiming at the presidency; why is it only former presidential aspirants or the elderly that always compete for the presidency?

It is not true that only former aspirants from the older generation are indicating interest in the 2027 contest. At least among the younger generation is Prince Adewole Adebayo, who has made it clear that he would run. The younger generations should not be seen to be disinterested in their future and destiny. I believe, however, that even from his statements, he, like most Nigerians, is more interested in having a new Constitution of the Federal Republic of Nigeria than in starting any campaigns.

Defection appears to be a new lexicon among our politicians such that everybody is just defecting to the ruling party, what does it say about our politicians and party ideology, if there is any?

As a Political Scientist, I find the issue of defection a very interesting phenomenon to study. Some people frown at it as demonstrating lack of understanding of the presidential system of government or overstretching the concept of freedom of association. But, the issue is more fundamental than that. It ridicules the culture of democratic choice and exposes the unarticulated orientations of some politicians. It suggests basic similarities between the two major political parties and shows lack of commitment to bounding values and an enduring ideology. It also loudly conveys to the observer that rather than an interest to serve the people, the politicians who change party affiliations in the present circumstances are more interested in the personal benefits derivable from political power, influence and authority.

Professor Tunde Adeniran, a former Minister of Education and Nigerian ambassador to Germany, in this interview, shares his thoughts about Nigeria, her politics and the need to have young generation

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Tinubu: Sovereign Wealth Funds Must Anchor Africa’s Transformation, Development

•Hails NSIA for championing strategic infrastructure projects, others

•Oramah: SWF should bankroll domestic projects

•Large-scale capital mobilisation key to unlocking transformative growth

James Emejoin Abuja

President Bola Tinubu yesterday tasked the African leadership to deepen regional cooperation and strategically deploy sovereign wealth funds to accelerate development across the continent.

The president insisted that sovereign wealth funds must become the anchors for pan-African investment platforms that de-risk projects, standardise processes, and deliver sustainable outcomes at scale, adding “This is not just a strategy. This is a necessity”.

Tinubu spoke at the opening of the 4th Annual Meeting of the Africa Sovereign Investors Forum (ASIF) with the theme, “Leveraging African Sovereign Wealth Funds to Mobilise Global Capital for Transformative Development in Africa”, which was hosted by the Nigeria Sovereign Investment Authority (NSIA) in Abuja.

He stressed that the coordinated use of these national reserves remained essential for closing infrastructure gaps, enhancing climate resilience, and creating employment for the rapidly expanding youth population.

Represented by Vice President KashimShettima, he said the continent must align its resources and ambitions in response to a fast-changing global landscape.

The president said the forum came at a critical moment when the world is undergoing rapid transformation and under pressure to think outside the box.

He said, “For Africa, this is the moment to position itself to seize opportunities arising from these changes.”

The president stressed that African countries must emulate the example of evolving sovereign wealth funds globally, which now played central roles in national transformation rather than being used solely as fiscal stabilisation tools.

He said, “Our future lies not in working in silos but in pursuing regional cooperation and collective ambition.

“Our sovereign wealth funds must become the anchors for pan-African investment platforms that de-risk projects, standardise processes, and deliver sustainable outcomes at scale. This is not just a strategy. This is a necessity.”

The president also acknowledged the fiscal pressures African governments face amid heightened expectations for inclusive and sustainable growth, but said innovation and creativity in resource utilisation will provide a way forward.

Tinubu said, “There can be no greater inspiration to reimagine how we invest, whether in setting up critical infrastructure, strengthening our climate resilience, promoting food security through agricultural innovation, supporting micro, small and medium enterprises, or embracing the digital economy to create jobs and expand opportunity.”

He commended the NSIA for its role in championing strategic infrastructure projects, describing it as a catalyst in the country’s development agenda, particularly in renewable energy, healthcare, and agriculture.

Specifically, he praised the NSIA’s leadership for working with like-minded funds and international partners to craft long-term investment strategies tailored to Africa’s unique challenges.

The president said the forum represented a vital step toward fostering integration among Africa’s sovereign wealth institutions – and possesses the potential to pool expertise, capital and networks across borders and drive investment into high-impact projects.

He said, “This is precisely why platforms like the Africa Sovereign Investors Forum are not just relevant but essential. ASIF offers a pan-African mechanism to harness the collective strength of our sovereign investment institutions.

“It gives us the power to share knowledge, co-invest across borders, and speak with a unified voice in the global financial ecosystem.”

The president further described the launch of the ASIF Investment Platform as a bold initiative that could galvanise financing for cross-border infrastructure and drive the continent’s sustainable development.

In his remarks, Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun urged stakeholders to focus on large-scale capital mobilisation, human capital development, policy alignment, and intercontinental collaboration. He said these elements are critical to unlocking transformative growth across Africa.

He said, “We are optimistic that this meeting will produce significant transactions that can attract the needed capital, build impactful partnerships and catalyse economic transformation across the continent.”

On his part, President of the African Export-Import Bank (AfreximBank), Prof. Benedict Oramah, called for a change in investment philosophy, urging that African sovereign wealth funds be retained within the continent to finance domestic projects.

He said, “There is a misconception that Africa lacks bankable projects. The potential across the continent is massive. The issue lies in how we approach investment strategy. Sovereign fund managers need to prioritise domestic investments that have long-term impact.”

ASIF Chairman, Mr, ObaidAmrane, said the forum had made notable progress since its inception three years ago, positioning Africa more competitively on the global stage and bridging infrastructure financing deficits.

He reaffirmed the forum’s commitment to ensuring that sovereign investment remained at the heart of Africa’s transformation.

He said, “While Africa remains open for business, we are focused on enabling sovereign investors to play an active role in projects that change lives across the continent.”

On his part, Managing Director/Chief Executive, NSIA, Mr. Aminu Umar-Sadiq, said the focus of the gathering was to explore how Africa’s sovereign wealth funds can leverage partnerships at domestic, continental, and global levels to deliver economic transformation.

He said the funds must strike a balance between taking bold investment risks to drive impact and maintaining the discipline needed to preserve wealth for future generations.

Sadiq noted that the continent must work together to develop a sustainable investment platform capable of attracting large-scale global capital. Such a platform, he said, should support initiatives that deliver strong commercial returns while also generating meaningful social impact, allowing Africa to address its developmental needs through financially sound and socially responsive investments.

He said African sovereign wealth funds must position themselves as the strategic partners of choice for international investors, combining their domestic knowledge and financial capacity to create an attractive market proposition. He said several investment and strategic agreements would be signed during the meeting to reinforce a collective commitment to economic transformation through collaboration and long-term capital deployment.

Also speaking at the forum, renowned Pan-African scholar, Prof. PLO Lumumba, urged African leaders to take greater responsibility for future generations by investing within the continent rather than exporting capital abroad.

He said, “It is our intergenerational duty to deploy the continent’s vast resources for the benefit of those yet unborn. Africa is not poor; our wealth is simply misallocated. Sovereign funds should remain in Africa to secure its future.”

•Hails NSIA for championing strategic infrastructure projects, others •Oramah: SWF should bankroll domestic projects •Large-scale capital mobilisation key to unlocking transformative growth James Emejoin Abuja President Bola Tinubu yesterday tasked

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FGN Unveils N50bn Green Bond to Deepen Climate Financing, Spur Sustainability Projects

NumeEkeghe

In a fresh move to consolidate Nigeria’s climate financing architecture and deepen sustainable development, the federal government has announced the issuance of its third Sovereign Green Bond, targeting up to N50 billion in proceeds to fund key environmental and infrastructure projects across the country.

The Director-General of the Debt Management Office (DMO), Patience Oniha, disclosed this to investors and fund managers in Lagos, yesterday, saying the offer, which opened yesterday, would close on Wednesday, June 18, 2025.

The bond is expected to attract domestic and international investors aligned with the green economy agenda following the successful outings of the Series I and II Green Bonds in 2017 and 2019 respectively, both of which were oversubscribed and channelled into renewable energy, afforestation, agriculture, and clean transportation.

Co-arranged by Chapel Hill Denham Advisory Limited and Stanbic IBTC Capital Limited, the Series III issuance is structured as a fixed-rate note with a five-year tenor. It is backed by the full faith and credit of the Federal Government of Nigeria and qualifies as a liquid asset for financial institutions a classification that makes it especially attractive to banks and institutional investors.

According to the investor presentation, proceeds from the Green Bond would be deployed to a range of climate-focused projects, including N15.96 billion for climate change adaptation and mitigation initiatives under the Federal Ministry of Environment. N15 billion for clean energy transition programmes under the Presidential CNG Initiative (Pi-CNG), including electric vehicle infrastructure and local gas conversion projects and N16.4 billion for water infrastructure projects, comprising the construction of new earth dams and the rehabilitation of key water supply systems.

Speaking on the offer, Oniha, described it as a pivotal component of Nigeria’s strategy to mobilise climate finance and demonstrate leadership on environmental stewardship within Africa

She said: “We are supporting the government to support the environment in the interest of all of us. Nigeria is doing something about the environment, about climate change, and this is part of that journey, because you need funding to support that initiative. “It is tied to a global policy of looking after the environment, and also because Nigeria is committed to those initiatives, we would like to do more and do it consistently.”

Upon completion of the offer, allotment results would be announced on June 20, with listing on both the Nigerian Exchange Limited (NGX) Sustainable Instruments Market and the FMDQ Green Exchange slated for July 7.

The dual listing aims to provide transparency, liquidity, and visibility for investors looking to gain exposure to certified green assets.

Also, data presented by the Federal Ministry of Environment at the launch highlights the urgency of Nigeria’s green transition: the country ranks 140th out of 180 on the Environmental Performance Index.

Speaking Director of the Department of Climate Change, Ministry of Environment, Dr. Iniobong Awe, said: “Nigeria has committed to reducing emissions by 47 per cent under the Paris Agreement, with targets of 20 per cent unconditional and 45 per cent conditional reductions.

“Key initiatives include a climate policy from 2021 to 2030, a National Determined Contribution, and the development of green bonds for innovative financing. Sector-specific plans address agriculture, oil and gas, and energy, with notable projects like the energising education project and the BRT mass transit project. The goal is to achieve significant climate change mitigation and adaptation efforts.”

NumeEkeghe In a fresh move to consolidate Nigeria’s climate financing architecture and deepen sustainable development, the federal government has announced the issuance of its third Sovereign Green Bond, targeting up