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Nigeria

Nigeria’s off grid energy market gets 83m dollar boost

Nigeria’s off grid power developers have secured about 83 million dollars in new International Finance Corporation backed financing under the Distributed Access through Renewable Energy Scale Up programme. The deals signal rising investor confidence in the country’s distributed energy market. The agreements were signed on the sidelines of the 2026 World Bank Group and IMF Spring Meetings. The funding will support an initial group of Nigerian renewable energy companies deploying mini grids and solar home systems in communities with little or no grid access. It also marks a shift from pilot projects to large scale rollout of distributed energy infrastructure. Companies that have signed financing agreements in the first phase include Darway Coast PriVida Power Prado Power GVE Projects and StarTimes Smart Energy. Ashipa Energy Eauxwell Nigeria Ignite Power Maskh Nigeria Nayo Tropical Resources and Paras Energy have been added […]

Abdulmumini Auwal SA April 18, 2026

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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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Togo

Électrification au Togo : progrès et défis

Le Togo affiche des avancées en matière d’électrification. Selon les données publiées fin décembre 2025 par le ministère en charge de l’Énergie et des Ressources minières, le taux d’accès à l’électricité aurait atteint 75 % au niveau national, contre 70 % en 2024. Une progression de cinq points présentée comme le résultat des investissements engagés pour étendre la couverture sur l’ensemble du territoire. Les autorités mettent en avant plusieurs projets structurants, notamment la centrale solaire de Blitta, d’autres initiatives photovoltaïques en cours, ainsi que le programme CIZO et le Fonds Tinga, soutenus par la World Bank et la Banque Ouest Africaine de Développement (BOAD). Sur le terrain toutefois, la situation apparaît plus contrastée. Dans plusieurs quartiers de Lomé, notamment Agoè-Alinka, Togblékopé, Fidokpui, Dikamé, Sivedome, Sanguéra ou encore Akato, de nombreux ménages recourent à des branchements informels, souvent qualifiés de « […]

Abubakar February 22, 2026

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Nigeria

More Money For Govt Yet Nigerians Get Poorer

A new analysis has shown that funds shared by the Federation Accounts Allocation Committee to the three tiers of government have surged sharply in the last four years, yet living conditions for most Nigerians keep deteriorating. The report revealed that total FAAC allocations jumped from about N9.18 trillion in 2022 to N10.9 trillion in 2023 and N15.26 trillion in 2024, an increase of roughly 66 percent within two years.​ Despite this rise in public revenue, poverty indicators remain grim, with more households struggling to afford food, transport, health care and housing. Rising inflation, weak job growth and the impact of subsidy removal have combined to wipe out any potential benefits of higher government earnings for ordinary citizens.​ Data in the report show that states and local governments have also benefited significantly from the higher inflows, receiving record amounts from FAAC […]

Abdulmumini Auwal SA December 13, 2025

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Nigeria

World Bank Criticises Nigeria’s Social Protection System, Only 44% of Benefits Reach Poor

The World Bank has criticized the effectiveness of Nigeria’s social protection programmes, revealing in its latest report that only 44% of government-run benefits reach poor households, despite 56% of enrolled beneficiaries being classified as poor. The main flaw is fixed allocations per household, which dilute support for larger, poorer families. The National Home-Grown School Feeding Programme (NHGSFP), which targets individual pupils, achieves better coverage, but its reach is limited and not nationwide. Social protection spending is extremely low—just 0.14% of GDP, far below the 1.5% global average and 1.1% Sub-Saharan Africa average. The overall impact on poverty reduction is minimal: all safety-net programmes together lower poverty by only 0.4 percentage points. The National Social Safety Nets Programme (NASSP), using the National Social Registry (NSR) to identify vulnerable populations, performs better, reducing poverty by 4.3 percentage points for beneficiaries. Nigeria overwhelmingly […]

Abdulmumini Auwal SA November 13, 2025

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Ahafo

Unequal Climate Resilience: Odawna Residents Left Behind as Accra’s GARID Project Expands

As Ghana intensifies its efforts to combat climate change, the Greater Accra Resilient and Integrated Development Project (GARID) is transforming parts of the capital with upgraded drainage systems, cleaner waterways, and better living conditions in flood-prone communities such as Nima, Alajo, and Akweteman. However, residents of Odawna, just a few kilometers away, say they have been overlooked. Recurrent floods and rising heatwaves continue to disrupt daily life there, exposing deep inequalities in the country’s climate resilience drive. GARID, supported by the World Bank and the Ministry of Works and Housing, was launched to protect vulnerable urban communities from flooding and climate-related shocks. In areas like Nima and Alajo, its impact is clear: new concrete drains, raised walkways, and improved waste management systems have reduced waterlogging and improved sanitation. Residents report safer neighborhoods and a visible decline in flood damage. In […]

Ahmad October 29, 2025

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Nigeria

Tinubu’s Reforms Deepening Poverty, Says Peter Obi

Former Anambra State Governor and Labour Party presidential candidate, Peter Obi, has criticised President Bola Tinubu’s administration, saying its much-publicised economic reforms are failing to lift Nigerians out of poverty. Obi’s comments followed a World Bank report released on October 8, 2025, which revealed that 139 million Nigerians now live below the poverty line—an increase from 87 million in 2023. In a post on X (formerly Twitter) on Tuesday, Obi described the figures as a “heartbreaking reflection” of how poorly the government’s policies have performed. “What this means is that in two years under the watch of the APC regime, over 50 million Nigerians were sent into poverty,” Obi wrote.“This is a heartbreaking reflection of how deeply our nation is failing its citizens.” He expressed concern that instead of treating the report as a wake-up call, the government dismissed it, […]

Abdulmumini Auwal SA October 14, 2025

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Nigeria

Presidency Rejects World Bank’s Poverty Report on Nigeria

The Nigerian Presidency has rejected a recent World Bank report estimating that 139 million Nigerians are living in poverty, calling the figure "unrealistic." In a statement, President Bola Tinubu's media adviser, Sunday Dare, argued that the World Bank's model uses a global poverty line of $2.15 per day, which, when converted, amounts to nearly ₦100,000 per month. He pointed out that this is higher than Nigeria's new minimum wage of ₦70,000, making the metric an "analytical construct" rather than a true reflection of local realities. The Presidency emphasized that the government is focused on its reform trajectory and social programs, such as expanded cash transfers and infrastructure funds, to drive inclusive growth. It stated that what matters is the direction of the economy, not a static figure based on outdated consumption data. While the World Bank commended Nigeria's bold economic […]

Abdulmumini Auwal SA October 9, 2025

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new africa

World Bank: Poor sanitation costs Africa $200bn yearly

The World Bank has revealed that Africa loses an estimated $200 billion annually due to poor sanitation, warning that the crisis is undermining economic growth, public health, and climate resilience across the continent. In its latest report titled “The Global Sanitation Crisis: Pathways for Urgent Action” released on Tuesday, the Bank said nearly two in five people worldwide lack access to safe sanitation, with Africa carrying a disproportionate share of the burden. The study estimated that Africa’s GDP could rise by up to 5% if governments and stakeholders invested adequately in water and sanitation systems. “Every US$1 spent in Africa returns US$7 – adequate funding in the sector could boost GDP by 5 per cent, resulting in an annual economic gain of US$200 billion in Africa alone,” the report stated. The World Bank identified cholera, diarrhoea, and typhoid as preventable […]

Abdulmumini Auwal SA September 16, 2025

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