Business
‘How to close Africa’s $70b infrastructure gap’
Africa’s greatest obstacle is not a shortage of capital but a shortage of bankable projects. That was the central message from the PMI Global Summit Series Africa in Kigali, where African Development Bank (AfDB) leaders and nearly 1000 delegates emphasised that poorly prepared projects remain the biggest barrier to the continent’s transformation. The Summit, the largest of its kind on the continent, served as a powerful platform to discuss how Africa can turn its vast potential into reality through bankable projects, professional project management, and strategic partnerships that deliver long-term impact.
Former AfDB president, Dr. Akinwumi Adesina, said Africa is at a pivotal moment in history. “The world is becoming more African,” he said, adding that one in four people on the planet will soon be African. With 65per cent of the world’s uncultivated arable land, abundant critical minerals for the green transition, and 13 of the world’s fastest-growing economies, Africa is poised to drive global prosperity.
Yet to realise this potential, he stressed, Africa must close its infrastructure gap, estimated at $70 billion annually, and ensure that projects deliver real impact. “Projects must not just exist on paper. They must change lives. As one Kenyan beneficiary told me, ‘We once were in darkness. Now we have light.’ That is the true measure of success,” he said.
Adesina highlighted AfDB’s High 5 priorities, Light up and Power Africa, Feed Africa, Industrialise Africa, Integrate Africa, and Improve Quality of Life, which have already impacted over 565 million people. From expanding electricity access to building transport corridors and digital infrastructure, he emphasised that projects are the vehicles of transformation.
Also speaking, MD, PMI Sub-Saharan Africa, George Asamani, said: “At PMI, we believe project success is not measured only by schedules and budgets, but by outcomes that change lives. Dr. Adesina captured this perfectly when he said projects must change lives. Africa’s future will be shaped not by the number of projects we launch, but by the impact those projects deliver.”
Building on this vision, Director, Development Impact and Results Department at the AfDB, Armand Nzeyimana, spotlighted a persistent obstacle: the shortage of well-prepared, bankable projects.
He explained that a bankable project is one that meets three essential tests: technical feasibility, with proven designs and resilient standards; financial viability, with clear revenue models and acceptable risk-return profile for investors; and robust risk management, where currency, political, and market risks are identified, allocated, and mitigated.
“Without these fundamentals, even the most noble intentions cannot secure the financing needed to move from paper to reality,” Nzeyimana said.
He warned that poor preparation comes at a steep cost. Projects designed for five years often stretch to eight or more, with completion timelines extended by up to 50 per cent. “The cost of delay is not just financial, it is developmental. Every missed deadline slows progress on the Sustainable Development Goals and leaves millions waiting for essential services. Today, 600 million Africans remain without electricity. That statistic will not change without bankable projects,” he said.
The choice of Kigali as host city reinforced the Summit’s theme: “Africa On Purpose.” Rwanda’s rapid transformation, ranging from major infrastructure investments to its growing role as a hub for tourism, sport, and innovation, offered delegates a vivid demonstration of purposeful leadership and disciplined execution. “Kigali is changing by the day and it shows what is possible when vision is matched with planning and delivery,” ,” Adesina noted.
Throughout the Summit, a clear consensus emerged: project management is not just a discipline but a strategic enabler of Africa’s transformation. By embedding PMI’s global standards, certifications, and methodologies into Africa’s project landscape, the continent can build the capacity needed to deliver transformative projects at scale.
Adesina proposed a deeper strategic alliance between PMI and AfDB. “Even as I near the end of my term, I see extraordinary opportunities for the AfDB and PMI to forge a strategic alliance that raises global standards in project delivery. We can create learning partnerships that blend PMI’s global methodologies with the Bank’s deep experience in cross-border initiatives, while building the next generation of African project professionals among the world’s most capable. Africa is brimming with opportunities, but to seize them, we must develop and execute projects at scale, with excellence and purpose.”
As the Summit concluded, delegates agreed that Africa’s future will not be defined by its resources alone, but by its ability to prepare, finance, and execute projects with excellence. From renewable energy to digital transformation, from regional trade corridors to urban renewal, the projects planned today will shape Africa for decades to come.
Property & Environment
Fed govt partners Dangote cement to bridge housing deficit
By Temitayo Lucas
The Federal Government has reaffirmed its partnership with Dangote Cement Plc and other industry stakeholders to drive affordable and inclusive housing, aligning with broader initiatives aimed at improving access to decent homes for low-income and informal-sector workers.
This initiative is seen as part of the efforts to bridge Nigeria’s housing deficit, even as stakeholders at the 2026 Abuja International Housing Show (AIHS) praised Dangote Cement for its significant contribution to affordable housing and infrastructure development in Nigeria. They described the firm as a key partner in efforts to bridge the nation’s housing deficit and improve access to quality building materials.
The industry leaders, policymakers, and housing experts specifically commended the President of Dangote Industries Limited (DIL), Aliko Dangote, for his commitment to Africa’s industrialisation and economic transformation, noting that his investments continue to drive sustainable growth across the continent.
At the Dangote Pavillion, the Minister of Housing and Urban Development, Dr. Muttaka Rabe Darma, reaffirmed the Federal Government’s commitment to working with the company to address Nigeria’s housing challenges.
He said the exhibition’s theme: “Housing Solutions for Low-Income and Informal Workers in Africa,” aligned with government efforts to expand access to affordable and inclusive housing.
Also, the founder and Chief Executive Officer of AIHS, Festus Adebayo, described Dangote Cement as a dependable partner whose consistent support has contributed to the growth and success of the annual housing exhibition. He noted that DIL is a principal sponsor of the event’s 20th edition, while Dangote Cement is showcasing innovative products and solutions designed to support housing development.
Dangote Cement’s Regional Sales Director for North Central, Bankole George, who represented the national Sales Director, Dolapo Alli, said housing remains critical to dignity, social stability, economic productivity and inclusive development.
He identified major barriers to affordable housing as high land costs, expensive building materials, limited access to mortgage financing, weak rental systems and planning regulations.
George advocated innovative housing finance models tailored to low-income earners and informal workers, including micro-mortgages, rent-to-own schemes, cooperative savings programmes, employer-assisted housing and incremental housing loans.
The call for stronger collaboration was echoed by former Speaker of the House of Representatives, Aminu Tambuwal, who urged African lawmakers to champion housing reforms, while former Senate President, Sen. Anyim Pius Anyim, called for innovative financing solutions to help close the continent’s housing gap.
Energy
31 winners emerge in 2025 oil licensing round
Thirty-one companies yesterday emerged winners of 37 oil and gas blocks at the 2025 Licensing Round which held at the Transcorp Event Center, Abuja. A total of 143 companies had submitted 200 bids for 37 out of the 50 oil and gas blocks originally put on offer.
Of the 50 blocks on offer, 37 received bids while no bids were submitted for the remaining 13. The 37 blocks that attracted bids were drawn from all the terrains including the frontier basins like the Benue Trough, Chad Basin, Anambra Basin and the Benin Basin.
These blocks were drawn from diverse terrains including the Niger Delta Onshore 16; Niger Delta Shallow Water, 18;, Niger Delta Deep Offshore, one; Benin Basin Onshore, three; Anambra Basin Onshore, four; Chad Basin Onshore, four and Benue Trough, four.
A statement by the Head of Media and Communications, Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Eniola Akinkuotu, noted that yesterday’s licencing round marked the first time in the country’s energy landscape that frontier basins would attract such level of investor interest.
The companies that emerged winners of the 2025 Licensing Round include: SSonic Petroleum Limited (PPL 2A29), CFP Pipeline and Flowlines (2A30), Dutchford E&P Limited (2A32), Attabanson Global Company Limited (2A33 and PPL 901), Rosem Energy Limited (2A38), Pivot-GIS Limited (2A39), Network E&P (2A40), Asharami (2A41), LexOil (2A42), BVOF (2A43), GupscoEnergy Limited (2A44 and 2A51), Saratoga (2A45), Volante (2A46), Concept-Reel Petroleum Services Limited (2A47 and 2A55), Clinton Oil Field (2A48 and 2A62) and Nuway Oaklane Limited (2A49).
Others are Ramec (2A50), Italia (2A53), Blueridge E&P (2A54), Up Energies Limited (2A56), AYM Shafa (2A57), Blackrock Holdings Limited (2A58), Funtay Integrated Business Limited (2A59), Riparian Development and Production Limited (2A60), Nikstallis (2A61 and PPL 900), Stardeep Petroleum (PPL 2010), Dakoda & U Limited (PPL308 and PPL 800), Southborne Oil and Gas Limited (PPL 902), Lanaka Petroleum (PPL 903) HighbanResources Limited (PPL 700), Eyre Energy Limited (PPL 801).
In line with the Petroleum Industry Act, 2021, these firms will only be presented final awards after the payment of the appropriate signature bonus and the approval of the Minister of Petroleum Resources.
In her remarks, the Commission Chief Executive, Mrs. Oritsemeyiwa Eyesan, thanked President Bola Tinubu for supporting the Commission to deliver a seamless licensing round.
While congratulating the winners, Eyesan urged them to pay their signature bonuses as quickly as possible and also develop their assets or risk losing them in line with the drill or drop provision enforced by the Commission.
The commercial bid conference was closely monitored by representatives of the Federal Ministry of Petroleum Resources, the Federal Ministry of Finance, the Nigeria Extractive Industry and Transparency Initiative (NEITI)and several other stakeholders in line with the extant laws.
Power
NERC holds Regional seminar for Judges on electricity market reforms
Judges and critical stakeholders in the Lagos State Judiciary service today began a three-day workshop aimed at deepening the judiciary’s understanding of the evolving legal and regulatory framework governing Nigeria’s electricity market.
The workshop, organised by the Nigerian Electricity Regulatory Commission (NERC), under the aegies of its Regional Seminar for Judges of State High Courts programme, is holding at the Lagos State High Court Annex, Osborne , Ikoyi, Lagos. It has as its theme: “Nigeria’s Electricity Market in Transition: Law, Regulation and the Courts.”
Speaking at the opening session yesterday, the NERC Chairman, Dr. Musiliu Oseni, stressed the need for stronger collaboration with the judiciary to ensure the success of Nigeria’s ongoing electricity market reforms, saying well-informed judicial decisions are critical to sustaining investor confidence, protecting consumers and advancing the country’s power sector.
Dr. Oseni described electricity as one of the country’s most strategic national priorities after security, noting that virtually every sector of the economy depends on reliable electricity. He explained that the seminar was designed to provide judicial officers with a deeper understanding of the technical, commercial and legal issues shaping the electricity sector as Nigeria implements far-reaching reforms introduced under the Electricity Act 2023.
Oseni noted that following the constitutional amendment of March 2023 and the enactment of the Electricity Act, Nigeria’s electricity industry has entered a new phase of decentralisation, allowing states to establish and regulate their own electricity markets.
He emphasised that the objective of the seminar was not to influence judicial independence but to familiarise judges with the technical nature of the electricity industry so they can better appreciate the complexities involved when adjudicating electricity-related disputes.
“The intention is not to interfere with the course of justice but to expose My Lords to the intricacies of the electricity sector. Better understanding of the industry will ultimately support sound judicial decisions that strengthen the sector,” he stated.
He disclosed that NERC has already transferred regulatory oversight to 16 states, describing the development as a major milestone in Nigeria’s electricity reform agenda.
According to him, the decentralisation of electricity regulation will improve consumer protection, bring regulatory institutions closer to electricity users, enable quicker resolution of customer complaints and allow tariff decisions to reflect local economic realities.
While acknowledging the benefits of the reforms, the NERC Chairman said they have also introduced fresh legal and regulatory challenges that require the judiciary’s understanding.
Dr. Oseni cautioned that the transition introduces new legal complexities, explaining that disputes in the electricity sector would no longer be limited to consumers, operators and the national regulator but could also involve state electricity regulators, multiple regulatory agencies and electricity market participants operating across different jurisdictions.
“As we speak today, the Commission has already issued transfer orders to 16 states, enabling them to assume regulatory oversight of their respective electricity markets,” he disclosed.
Oseni cited a 2016 court judgment which, according to him, prevented the Commission from fully exercising its regulatory powers and contributed to electricity subsidy liabilities estimated at ₦520 billion in 2019, equivalent to nearly ₦2 trillion at current exchange rates.
The NERC boss further disclosed that the seminar would feature presentations by Nigerian and international electricity experts who would share practical experiences, analyse previous judicial decisions affecting the sector and engage participants in discussions on emerging legal issues arising from Nigeria’s electricity market reforms.
He encouraged judges to actively participate in the sessions by asking questions and sharing perspectives, expressing confidence that the interaction would foster stronger collaboration between regulators and the judiciary.
Delivering a goodwill message on behalf of the Chief Judge of Lagos State, Honourable Justice Kazeem Aloba, the Administrative Judge of Lagos Division, Honourable Justice Atinuke Ipaye welcomed the Commission’s initiative, describing it as timely and necessary.
Justice Ipaye observed that electricity remains one of Nigeria’s most critical development issues, affecting homes, businesses and public institutions alike.
“There is hardly any Nigerian who is not affected by electricity, whether through generation, transmission, distribution, metering or payment. The sector touches every aspect of our daily lives,” she remarked.
She noted that the liberalisation of the electricity industry has introduced new market participants, including generation companies (GenCos) and distribution companies (DisCos), making continuous judicial education necessary to keep pace with the sector’s evolution.
She urged judges to take advantage of the three-day seminar to deepen their understanding of the industry’s legal and commercial realities, saying such knowledge would improve the quality of judicial decisions in electricity-related disputes.
The Regional Seminar for Judges of State High Courts will feature technical presentations, panel discussions and case studies led by Nigerian and international experts as part of NERC’s efforts to strengthen judicial capacity and enhance collaboration between the judiciary and electricity regulators in support of Nigeria’s ongoing electricity market reforms.
The programme forms part of NERC’s broader efforts to deepen institutional collaboration with the judiciary as Nigeria continues its transition towards a decentralised and more competitive electricity market.
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