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Italy has supported ECOWAS with $14 million to address risk disasters: Envoy

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The Ambassador of Italy to Nigeria, Stefano De Leo, said this at the inauguration of the ECOWAS Disaster Operation Centre in Abuja on Thursday.

De Leo said the investment was through the United Nations Office for Disaster Risk Reduction (UNDRR).

“The Government of Italy is particularly proud of the cooperation in this sector with ECOWAS, United Nations Office for Disaster and Risk Reduction, International Center for Environmental Monitoring, and the Federal Republic of Nigeria.

“Over the last year Italy has invested, through UNDRR, more than 14 million dollars to support a better understanding of risk, the real impact of disaster, how these disrupt the socio-economic system and the possibility for a sustainable development,” he said.

The ambassador said the Italian government looked to increasing the strategic role of Africa in tackling global challenges, with great attention to the growing leadership of the African Union and its regional organisations.

He said the event was dedicated to the Disaster Operation Centre of ECOWAS, the fourth centre of the African Multi-Hazard Early Warning and Action System (AMHEWAS) for Disaster Risk Reduction (DRR).

He also said the centre in ECOWAS would play a key role in multi-hazard monitoring and early warnings for floods, extreme weather, droughts, and food insecurity in the region.

“The roadmap to establish a continental mechanism is still long, but the network of cooperation is widening.

“It is crucial to step up and to deepen relationships also in facing together the challenges of sustainable economic development, protection of climate change and policies for disaster reduction.

“The close interconnection of all these challenges is evident to all of us,” he said.

Moreso, the ambassador said the event provided an important moment to reflect on specific commitments to promote safer and resilient communities.

He said it also provided commitments to put in place an effective continental mechanism to enhance data access and exchange across the region and the continent.

In her remarks, Fatou Sow Sarr, ECOWAS Commissioner for Human Development and Social Affairs, expressed the gratitude of ECOWAS to the Italian government for the significant contribution and steadfast commitment to the project.

Mrs Sarr said the centre would be linked to established centres in the African Union Commission in Addis Ababa, the Intergovernmental Authority on Development – Climate Prediction and Applications Centre (IGAD- ICPAC) in Nairobi, and the African Centre of Meteorological Applications for Development (ACMAD) in Niamey.

“We gather to mark a significant milestone – the inauguration of the Regional Disaster Operations Centre within our Department of Human Development and Social Affairs.

“This centre, a testament to the generous contributions of the Government of Italy, the CIMA Foundation, and the UN Office for Disaster Risk Reduction, is outfitted with the free, open-source platform, myDEWETRA, which will significantly enhance our capacity to monitor, analyse, and exchange disaster risk data,” she said.

myDEWETRA is a real-time system for hydro-meteorological forecasting and monitoring.

Furthermore, the commissioner said the commission had emerged as a vital aspect in driving Agenda 2030 and Agenda 2063, in strengthening the regional ability to tackle cross-border challenges.

“Through partnerships and collaborations, we have made considerable strides in supporting member states and fostering resilient communities.

“By 2030, we aspire to substantially augment the availability of and access to multi-hazard early warning systems and disaster risk information,” he said.

Also speaking, Mami Mizutori, Special Representative of the United Nations Secretary-General for Disaster Risk Reduction, UNDRR said DRR required the contribution of all partners.

Mrs Mizutori further said all ECOWAS member states would be able to contribute and receive fundamental support.

“And of course, this effort would not have been possible without the generous support of the Government of Italy, to whom we are grateful.

“The UN Office for Disaster Risk Reduction is proud to have played a role in establishing this centre by providing both technical and staffing support and we will continue this support moving forward to help the centre reach its full potential,” she said.

The UN representative said the establishment of the ECOWAS Disaster Operations Centre, as a core element of the AMHEWAS, was an important milestone in achieving the Early Warnings for All initiative.

She said the UNDRR was committed to helping all countries achieve this level of resilience.

Also, Mustapha Ahmed, Director-General, National Emergency Management Agency (NEMA), said management of disaster risks could not be actualised without an efficient coordination mechanism.

Mr Ahmed also said that effective early warning systems for anticipatory early actions were needed.

Travel agents “may belong to organ harvesting syndicates,” NAPTIP DG Waziri-Azi warns

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The National Agency for the Prohibition of Trafficking in Persons (NAPTIP) has warned Nigerians to be careful while consulting with travel agents as some of them may belong to organ harvesting syndicates.

The Director-General, NAPTIP, Fatima Waziri-Azi, disclosed this at a workshop organised for media practitioners in Lagos on Thursday.

“Travelers and their families should also avoid the desperation to make wealth which makes them contract travelling consultants, as some of them may belong to organ harvesting syndicates,” Mrs Waziri-Azi stressed.

The NAPTIP boss expressed regret that financial greed had blinded many parents to the extent that they compromised their wards to these organ harvesting syndicates.

Speaking further, the NAPTIP DG also disclosed that the agency secured the convictions of 42 human traffickers in the first half of 2023.

She said that the convictions were secured from traffickers who were diligently prosecuted from January to June 14, 2023.

Mrs Waziri-Azi was represented by Arinze Orakwe, the director in-charge of Training and Manpower Development, NAPTIP.

“Therefore, NAPTIP is sending a strong warning to human trafficking criminals that the agency will never retreat or surrender.

“The human trafficking industry yields as high as $150 billion annually and globally from harvesting human skin, liver, pancreas, kidney among others.

“I want to plead with the Christian Association of Nigeria (CAN), the Muslim Society of Nigeria (MSM) and other religions bodies in the country to join hands with NAPTIP to wage war against these criminals,” said Mrs Waziri-Azi.

The NAPTIP director-general noted that the syndicates were attracted to huge financial earnings, and they kept evolving new tactics to capture their victims.

She assured Nigerians that NAPTIP was up to the task of defeating the syndicates, no matter how deceptive they became.

Mrs Waziri-Azi appealed to Nigerians to expose individuals and syndicates that harvested human organs for sales.

She urged Nigerians, who wanted to travel out of the country, to always follow safe migration pathways.

“Travelers should get all necessary information on the destination country and procure right travelling documents, among others.”

The workshop was for core members of the Trafficking-in-Persons Media Corps.

It was organised by NAPTIP, supported by the Action Against Trafficking in Persons and Smuggling of Migrants (A-TIPSOM) and funded by the European Union (EU).

Tinubu already one of best presidents to rule Nigeria says Yakasai

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Tanko Yakasai, a northern leader, says President Bola Tinubu is already one of the best presidents to rule Nigeria and has the pedigree and capacity to change the state of things in the country.

Yakasai, 97, is a Nigerian politician, human rights activist and former liaison officer to ex-President Shehu Shagari.

At a briefing after meeting with the president, Mr Yakasai said Nigeria required a man with a track record of good governance and a well-versed politician to get it out of the woods.

He said with the precedence set in Lagos when Mr Tinubu was the governor for eight years, Nigerians should expect good times in the next six to 12 months.

“Right from the time he declared his intention, I had supported Tinubu’s aspiration to lead the country. My support was borne out of a personal conviction that a real politician will be the only one that can solve the myriad problems of the country,” stated Mr Yakasai.

The northern politician added, “In the past few days of his inauguration, I became more convinced that my support was not lost. The few decisions and laws signed as well as appointments have further singled him out as one of the best presidents to rule Nigeria.”

Mr Yakasai called on Nigerians to pray for the Tinubu government to succeed, adding that the gains of the recent pronouncements would soon manifest.

He said he believed that Nigerians would have cause to smile after the benefits of the decisions taken by Mr Tinubu begin to be manifest. Mr Yakasai added that he visited the president to congratulate him on his electoral victory.

“I came with some members of my family to felicitate Mr President on his success at the polls and to pray for the success of his administration. I will want Nigerians to stand by him in order enjoy the kind of development that happened in Lagos,” said Mr Yakasai.

NMDPRA lists requirements for companies to import petrol after subsidy removal

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The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) says that companies meeting its requirements can import fuel with the petrol subsidy removal.

The NMDPRA said petrol importers must meet regulations stipulated by the Petroleum Industry Act (PIA 2021).

NMDPRA chief executive stated this on Wednesday in Abuja while briefing the journalists, shortly after a meeting with the oil marketing companies on expectations on post-petrol deregulation.

The engagement had in attendance officials of the Major Oil Marketers Association of Nigeria (MOMAN), Depots and Petroleum Products Marketers Association of Nigeria (DAPPMAN)and Nigerian National Petroleum Company Limited (NNPC Ltd.), among others.

Mr Ahmed said the authority was looking at the flexibility and ease of doing business, enabling importers to import easily, stating that the meeting became necessary regarding the current situation in the downstream sector following President Bola Tinubu’s pronouncement by petrol subsidy removal.

“The engagement aims at aligning and also rolling out policies in terms of requirements for the quotation of PMS. We thought it is necessary to fashion out areas of concern and promote clarity regarding the way forward,” Mr Ahmed explained. “There will be transparency while conducting the business of the importation of PMS both by the major marketing companies, MOMAN, and the DAPPMAN, as well as the NNPC Limited.”

The NNPC was the sole petrol importer in the past, but with the removal of the fuel subsidy, “it is necessary to open the way to other interested parties that want to import so long as they meet the requirements,” he said.

He added that the NNPC Ltd would draw down on its importation from being the sole importer to bringing in about 30 to 40 per cent maximum in line with the provision of the Federal Competition and Consumer Protection Commission (FCCPC) regulation.

“The regulation says that nobody should exceed 40 per cent of the market share in terms of their own regulations, and we want to abide by that,” Mr Ahmed noted. “We also deliberated on some concerns in terms of provision of foreign exchange for them to import. We also discuss the issue of quality of product importation and the source locations.”

Mr Ahmed said petrol prices would not be the same nationwide because of local transportation and logistics.

“For example, the price in Lagos, being the main receiving location for imports, will not be the same with the prices in Ibadan, Sokoto or Borno states because the local transportation costs will be added to the price,” said the NMDPRA chief. “We also agreed finally that we should have a small team to look at some critical aspect of the PIA that warrants only those with refinery or those with international trade experience are allowed to import.”

AfDB approves US$15M loan for Infrastructure Credit Guarantee Company Limited to support infrastructure financing in Nigeria

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The Board of Directors of the African Development Bank has approved a $15 million subordinated loan to Infrastructure Credit Guarantee Company Limited (InfraCredit) to strengthen its capital base and help close Nigeria’s infrastructure financing gap.

The financing will enable InfraCredit to leverage domestic capital markets to bolster access to long-term local currency infrastructure financing in Nigeria. It complements a 2019 investment into InfraCredit made by the African Development Bank and other partners to help unlock domestic institutional capital for infrastructure. InfraCredit is a specialized Nigerian credit guarantee company that mobilizes long-term capital from institutional investors, including pension fund and insurance companies, to support infrastructure projects.

The loan comes at a time when InfraCredit is seeking to raise capital to finance an additional $375 million in infrastructure over the next few years, primarily by leveraging private sector financing.

Lamin Barrow, Director General of the Bank’s Nigeria Country Department, said, “The African Development Bank is pleased to continue to support an innovative financial institution – InfraCredit –which has objectives that align closely with our priorities to mobilize institutional financing for the delivery of infrastructure for Nigeria in key sectors including transport, energy, water, agriculture and infrastructure.”

The company’s green finance track record and commitments under its Clean Energy Transition Strategy and Roadmap and Green Finance Framework fits with the African Development Bank’s commitments to promote low-carbon development and mitigation, leveraging climate finance from private sector sources, Barrow said.

The loan comes at a time when InfraCredit is seeking to raise capital to finance an additional $375 million in infrastructure over the next few years

Chinua Azubike, InfraCredit CEO said, “We are delighted and very pleased with the confidence that AfDB has demonstrated in the opportunity ahead for InfraCredit to scale its development impact of unlocking domestic institutional investments for long-term local currency infrastructure finance in Nigeria that will create jobs and support local economic growth. This second round investment will strengthen our guarantee issuing capacity and bring AfDB’s total investments in InfraCredit to $25 million, which is a strong signal of commitment to the long-term growth of InfraCredit and the Nigerian economy.”

Ahmed Attout, African Development Bank Acting Director for Financial Sector Development, said: “The support demonstrates our continuing confidence in InfraCredit and recognition of the role it plays in Nigeria’s infrastructure development. The African Development Bank is committed to capacitating the various players within Africa’s capital markets and stimulating the mobilization of long-term funding into Africa’s infrastructure.”

The partnership advances a number of strategic objectives under the Bank’s current Country Strategy Paper for Nigeria, which includes helping to stimulate local currency bond market financing across diverse infrastructure sectors, as well as enhancing economic diversification and competitiveness in the country. The strategy also prioritizes delivery of infrastructure for transport, energy, water and sanitation, agriculture, industry and social development.

The intervention is also aligned with the Nigeria’s National Development Plan which envisages strong private sector resource mobilization and participation in the delivery of the priorities of the plan including for investment in infrastructure, promotion of financial sector and capital market development in the country.

By de-risking local currency debt instruments (primarily bonds), InfraCredit channels financing to infrastructure projects, including green and climate-aligned projects in Nigeria. Infrastructure Credit Guarantee Company Limited was founded in 2016 by the Nigerian Sovereign Investment Authority in collaboration with GuarantCo (part of the Private Infrastructure Development Group).