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Togo

MIGA Backs $1.65bn Energy Push in Africa

Le Groupe de la Banque mondiale, via son agence de garantie MIGA, a signé un accord-cadre avec le développeur énergétique AMEA Power pour mobiliser jusqu’à 1,65 milliard de dollars en faveur de 23 projets, dont plusieurs en Afrique, notamment au Togo. Dans le cadre de cet accord, la MIGA prévoit d’accorder jusqu’à 1,48 milliard de dollars de garanties. Ces mécanismes visent à sécuriser des investissements en fonds propres, quasi-fonds propres ainsi que des prêts d’actionnaires. Ils couvrent divers risques, notamment les instabilités politiques, les restrictions sur les transferts de devises, les expropriations ou encore les ruptures de contrat. Ce dispositif a pour objectif principal de faciliter l’accès au financement dans des environnements perçus comme risqués. Selon Hussain Al Nowais, ce partenariat permettra d’accélérer le déploiement de capitaux et de soutenir la réalisation de projets d’infrastructures énergétiques à grande échelle. Le […]

Abubakar April 13, 2026

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Nigeria

Tinubu Writes Senate, Seeks Approval To Borrow 5 Billion Dollars

President Bola Ahmed Tinubu has written to the Nigerian Senate seeking approval to borrow an additional 5 billion dollars from external sources. The fresh request is part of the wider 2024–2026 external borrowing plan aimed at funding infrastructure and plugging budget deficits. In his letter to Senate President Godswill Akpabio, Tinubu said the new facility would support key sectors such as transport, power, agriculture, health and education. He argued that concessional and semi concessional loans remained vital to delivering priority projects at a time of revenue constraints. The Senate had earlier approved a 21.5 billion dollar external borrowing plan for the 2025–2026 period. The latest 5 billion dollar request is expected to be processed under the same framework once lawmakers subject it to committee scrutiny and debate. Tinubu’s government has defended its borrowing strategy as necessary to stimulate growth and […]

Abdulmumini Auwal SA March 31, 2026

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Nigeria

Tinubu has ended Southeast marginalisation, says Umahi

Minister of Works, David Umahi, says President Bola Tinubu has effectively ended the long standing political and infrastructural marginalisation of the Southeast region.He stated this while speaking at a public event where he reviewed federal projects and appointments linked to the zone. Umahi explained that, under Tinubu, the Southeast is receiving more federal attention than at any other time since the return to democracy in 1999.According to him, previous administrations did not give the region the level of inclusion and investment it is currently enjoying. He pointed to his own appointment as Minister of Works as a major signal of change, describing it as the first time since independence that someone from the Southeast is heading the ministry.Umahi said this position has allowed the region to have a stronger voice in national infrastructure planning and execution. The minister listed several […]

Abdulmumini Auwal SA March 15, 2026

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Nigeria

Minna residents suffer as water crisis deepens

Residents of Minna, the Niger State capital, are facing a worsening water crisis despite the allocation of billions of naira to improve water supply over the years. Many homes have little or no access to pipe-borne water and now depend on vendors, boreholes, and distant water sources for their daily needs. Women and children trek long distances and queue for hours at boreholes and public taps, often starting before dawn to secure enough water for the day. The scarcity has disrupted schooling, as some children, especially girls, miss classes or arrive late because they spend mornings fetching water or waiting for vendors.​ Health risks are rising as desperate residents sometimes resort to unsafe water from streams, ponds, or other untreated sources, raising fears of outbreaks of waterborne diseases. Households also struggle financially as the cost of water from vendors has […]

Abdulmumini Auwal SA February 28, 2026

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Nigeria

FG pushes $5.7bn China investment talks to drive power, industrial growth

The Federal Government is advancing negotiations with Chinese investors on proposed projects worth about 5.7 billion dollars aimed at boosting power supply and accelerating Nigeria’s industrial growth. Officials say the talks are part of a broader strategy to attract strategic capital into energy, transport and industrial infrastructure to support President Bola Tinubu’s economic reforms. According to government sources, the Chinese funding proposals cover new power generation and transmission projects, solar and clean energy investments, as well as industrial parks and manufacturing hubs in key states. The initiatives are expected to complement earlier Chinese commitments of over 20 billion dollars across agriculture, mining, automotive, steel and energy sectors.​ Nigeria is positioning itself as China’s top investment destination in Africa, leveraging existing rail, road and power partnerships and seeking new deals in digital infrastructure and green energy. Officials argue that sustained Chinese […]

Abdulmumini Auwal SA February 23, 2026

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Nigeria

Tinubu to inaugurate Aba–Port Harcourt Expressway in May – Umahi

Minister of Works, David Umahi, says President Bola Tinubu will inaugurate the Aba–Port Harcourt Expressway in May this year. He disclosed this during an unscheduled inspection of the project, where he expressed satisfaction with the pace and quality of work on the road. Umahi said the expressway, a key section of the Enugu–Port Harcourt corridor passing through Abia and Rivers States, is almost completed and on track for commissioning within the announced date. He noted that adequate funds have been provided by the Federal Government to ensure contractors deliver the project without delay. The minister praised the contractors handling the road for what he described as solid engineering work and good finishing. He added that the expressway will ease traffic, boost trade and improve connectivity for residents and businesses across the South East and South South regions. Umahi also commended […]

Abdulmumini Auwal SA February 15, 2026

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Nigeria

Tinubu says new tax laws will boost prosperity

President Bola Ahmed Tinubu has assured Nigerians that his government’s new tax regime will support shared prosperity, sustained growth and long-term economic stability.​In his New Year message, he said the reforms are meant to harmonise taxes, end multiple taxation, raise revenue sustainably and strengthen funding for infrastructure and social programmes, not to overburden citizens.​He praised states that have already adopted harmonised tax laws, noting that a streamlined system will reduce excessive levies and improve Nigeria’s fiscal foundation.​ Tinubu said the difficult reforms carried out in 2025 are already producing measurable gains despite global economic headwinds, and that more benefits will reach ordinary Nigerians in 2026.​He highlighted a growth plan to bring at least 10 million Nigerians into productive economic activity by empowering at least 1,000 people in each of the country’s 8,809 wards through agriculture, trade, food processing and mining.​The […]

Abdulmumini Auwal SA January 1, 2026

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Nigeria

2026 marks stronger phase for Nigeria’s economic growth

President Bola Tinubu says 2026 will mark the start of a stronger phase of economic growth for Nigeria built on reforms carried out in 2025.In his New Year message, he explained that the country closed 2025 with steady GDP growth, more stable exchange rates and inflation falling toward government targets.​He noted that annual GDP growth is expected to exceed four percent for 2025, with trade surpluses and better investor confidence helping to stabilise the economy.​ Tinubu said his government will focus in 2026 on reducing inflation further so that prices of goods and services become more manageable for households.​He added that the aim is to ensure that the benefits of economic reforms are felt by every Nigerian home, not just by big companies or investors.​According to him, this includes creating more jobs, protecting incomes and improving living standards through targeted […]

Abdulmumini Auwal SA January 1, 2026

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Nigeria

Presidency explains rise in 2026 budget to N58trn

The Presidency says the proposed 2026 federal budget of N58.18 trillion is aimed at consolidating reforms, boosting growth and tackling security and social challenges, not just expanding spending for its own sake. The aggregate expenditure is about six per cent higher than the 2025 estimate of N49.7 trillion, reflecting what officials describe as a more ambitious but targeted fiscal plan.​ According to presidential officials, the increase is driven mainly by higher allocations to defence, internal security and law enforcement in response to persistent insurgency, banditry and other threats. The 2026 plan earmarks about N5.41 trillion for security related spending, making it one of the largest single components of the budget.​ The budget also scales up capital investment in infrastructure, including roads, rail, power and public assets needed to support private sector led growth. Government argues that sustained infrastructure funding is […]

Abdulmumini Auwal SA December 22, 2025

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Nigeria

Tinubu orders N1.5tr payout to local contractors, sets up payment panel

President Bola Ahmed Tinubu has ordered the payment of N1.5 trillion owed to local contractors and set up a high level inter ministerial panel to tackle long standing delays in settling verified debts. The decision was taken at Wednesday’s Federal Executive Council meeting after the President was briefed on the scale of outstanding obligations.​ Presidential spokesman Bayo Onanuga said Tinubu was visibly unhappy that contractors had been left unpaid and demanded a “one stop” solution to the problem. Director General of the Bureau of Public Procurement, Dr Adebowale Adedokun, had earlier presented details of the backlog, prompting the President to constitute a special committee to clear the arrears and propose a sustainable funding plan.​ The committee includes Finance and Economy Minister Wale Edun, Budget and Economic Planning Minister Atiku Bagudu, Works Minister Dave Umahi, Education Minister Olatunji Alausa, Housing Minister […]

Abdulmumini Auwal SA December 11, 2025

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