Economy
Climate change: AfDB to double financing for Africa to $25bn by 2025
The African Development Bank (AfDB) has committed to double its climate finance for Africa to 25 billion dollars by 2025, with more than 50 per cent devoted to climate adaptation.
The President of the bank, Dr Akinwumi Adesina, made this known at a virtual High-Level Launch of the Global Centre on Adaption (GCA) office in Africa on Tuesday.
According to the European Commission, climate adaptation means anticipating the adverse effects of climate change and taking appropriate action to prevent or minimise the damages, or taking advantage of opportunities.
Adesina said that the fund would address climate risks the continent faced to ensure the continent was not short-changed by the global climate finance.
“I am delighted with the launch today of the Global Center on Adaptation for Africa (GCA) hosted by the African Development Bank.
“The bank has committed to doubling its financing for climate to 25 billion dollars by 2025 with over 50 per cent devoted to climate adaptation.
“Africa must not be short-changed by global climate finance.”
He reiterated AfDB’s continued partnership with the GCA to mobilise more resources for climate adaptation and ensure access to finance is sustained in the continent.
He urged African leaders to collaborate their efforts toward the sustenance of the centre to ensure sustainable development in the continent.
Also speaking, Mr Ban Ki-moon, Co-Chair of the Board of GCA and 8th Secretary-General of the UN said the launch would accelerate adaptation in Africa.
Ban said the GCA would also promote sustainable development in line with international best practices.
“This is a historic moment to accelerate adaptation in Africa. Nowhere is the challenge of achieving sustainable development in the face of a changing climate more acute.
“Our new regional office will support regional and national adaptation efforts by emphasising and spreading existing best practices on the continent and ensuring their fully fledged integration into broader international adaptation efforts.”
He said that Africa had a large population of youths and urged partners to work together and “invest in young the people and maximise their potential”.
“We must learn to work together to find solutions,” he added.
Meanwhile, Kristalina Georgieva, Managing Director, International Monetary Fund (IMF) urged partners to ensure that knowledge that could boost climate adaptation was shared.
“More than any other region, sub-Saharan Africa is vulnerable to the impact of climate change, which threatens lives and livelihoods and undermines economic growth.
“After the current crisis (COVID-19), boosting resilience is an urgent priority so it’s vital we share the knowledge and best practice that can help accelerate climate adaptation.”
Amina Mohammed, Deputy Secretary-General of the UN applauded the launch of the GCA Africa, which she noted would ensure a more resilient Africa.
“There is an urgent need to step up the support for people in Africa, and around the world affected by climate change.
“I welcome the GCA Africa as a crucial partner in delivering the elevated ambition and enhanced action that is needed to make this shift toward a resilient future.”
Mohammed reiterated the commitment and support of the UN toward the development of the continent.
President Ali Bongo Ondimba of Gabon and Chair of the African Adaptation Initiative (AAI) assured of the initiative’s partnership with the GCA toward the promotion of a resilient climate.
“The devastating effects of climate change, which include severe droughts, floods, reduced agricultural yields, sea-level rise, and other climate-related disasters are on the rise.
“The launch of GCA Africa is a bold and innovative initiative to galvanise the support needed to significantly scale up adaptation on the continent, identify gaps and connect regional partners to find solutions,” Ondimba said.
The GCA launch was hosted by the AfDB at its headquarters in Abidjan, Cote d’Ivoire and had several African leaders and international organisations’ leaders giving their support.
GCA Africa will work with partners across the continent to scale and accelerate adaptation action that protects African communities from the impacts of climate change.
The centre will focus on programmes and action, knowledge acceleration, capacity building and agenda-setting that respond to the acute challenges from the changing climate facing African countries.
The programmes include improving the food security of one billion people in Sub-Saharan Africa by 2030.
This will be done through a programme on rural well-being and food security, as well as projects to support communities through water for urban growth and resilience; using nature for more resilient infrastructure; adaptation finance and building youth leadership.
The GCA has its headquarters in the Netherlands and regional offices in China and Bangladesh. (NAN)
By: Fabian Apechihin
Nigerians are facing yet another spike in fuel prices as premium motor spirit (petrol) now sells for between ₦905 and ₦945 per litre across several filling stations in Abuja.
Checks on Monday, October 6, 2025, revealed that Nigerian National Petroleum Company Limited (NNPCL) retail outlets, along with Empire, AA Rano, and Shema filling stations, adjusted their pump prices upwards. Empire Filling Station in Gwarimpa reportedly sold petrol at the highest rate of ₦945 per litre.
Other stations, including MRS, Emedeb, Ranoil, and Eterna, dispensed petrol between ₦885 and ₦910 per litre.
Marketers Blame PENGASSAN Strike for Price Surge
The Independent Petroleum Marketers Association of Nigeria (IPMAN) attributed the sudden hike to disruptions caused by last week’s strike by the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN).
IPMAN President, Abubakar Maigandi, explained that the price increase was largely due to supply interruptions. He noted that stations receiving supplies from Dangote Refinery were still selling between ₦885 and ₦895 per litre, adding that prices were expected to stabilize soon.
“The feud between Dangote Refinery and PENGASSAN may have triggered panic buying and artificial scarcity. I can assure you that prices will drop and return to normal in the coming days,” Maigandi said.
IPMAN spokesperson Chinedu Ukadike also confirmed that the PENGASSAN strike caused temporary shortages in Lagos and Abuja but expressed optimism that availability would improve as supply chains normalize.
Depot Prices Edge Up
Depot prices have reportedly risen slightly, with Dangote Refinery selling petrol at ₦844 per litre, Ranoil and Aiteo at ₦845, and NIPCO at ₦850 in Lagos.
The fuel price increase comes just days after Dangote Refinery and PENGASSAN resolved their dispute over the alleged mass dismissal of Nigerian workers, which led to a two-day strike. Federal Government intervention helped broker peace between both parties.
Dangote Refinery later thanked President Bola Ahmed Tinubu and other mediators for their role in ending the strike.
Shettima, PENGASSAN Trade Words
Meanwhile, Vice President Kashim Shettima, speaking at the 31st Nigerian Economic Summit (NES31) on Monday, criticized PENGASSAN, declaring that “Nigeria is bigger than the union.”
In response, PENGASSAN President Festus Osifo countered, saying the country is also “bigger than Dangote Refinery and the presidency,” emphasizing the union’s commitment to protecting Nigerian workers’ rights.
- Urges Kwarans, foreigners to embrace it Stephen Olufemi Oni, Ilorin
Kwara State Government has continued to showcase the beauty of culture and traditional assets and its uniqueness in the daily lives of the citizens, urging the people to embrace it for development.
The State Commissioner for Communications, Hon. Bolanle Olukoju, had earlier in a broadcast, enjoined the people of the State, at home and in the diaspora, to embrace tourism as a tool for developmental progress to sustain transformational growth in line with the policy thrust of Mallam AbdulRahman AbdulRazaq’s-led administration.
The Commissioner made the call to mark the 2025 World Tourism day with the theme, ‘Tourism and Sustainable Transformation’, as declared by the United Nation’s World Tourism Organization(UNWTO).
According to Olukoju, tourism is more than travel, it is actually a way of supporting people, culture, and the environment while driving economic growth, urging all and sundry to explore the various tourist sites around them.
“Tourism is not just travel, it is about building a future where every journey contributes to people, culture and planet, it is about hospitality that opens our heart and also helps to preserve our heritage and create opportunities for growth and development”, She said.
The Commissioner, who was delighted that the Ilorin Emirate Durbar was recently ranked among the top ten festivals in Nigeria, celebrated Hajia Faridah Shagaya, who was recognised among Africa’s top tourism personalities, describing the recognitions as sources of pride for the state.
She commended the administration of Governor AbdulRazaq for investing in tourism and hospitality, citing projects such as the Visual Arts Centre, Flower Garden, and Sugar Factory Film Studios, among others, as commendable efforts.
She also announced that this year’s celebration includes a roundtable with stakeholders to advance discussions on the future of tourism in Kwara State.
“Tourism is wearing a new face, from the Sugar Factory Film Studio, the Visual Arts Centre and the improved road network to Owu Waterfalls and many more which are evident of his work and is gradually opening Kwara to the World”, she added.
The Commissioner, who was represented at the event by the Director, Personnel, Finance and Supply, Hajia Salamat Yahaya, assured that tourism will continue to receive priority attention under the present administration and urged all stakeholders to support the ongoing efforts to make Kwara a leading destination for culture, heritage, and hospitality.
In her remarks, the Secretary, kwara State Hospitality and Tourism Development Board, Hajia Ramat Akanni, applauded the present administration for priority attention given to the Board.
Hajia Akanni expressed optimism towards an enviable tourism and hospitality driven state, which she assured, would attract prospective investors and enhance revenue generation for the state.
She sought support and utmost compliance from hoteliers and relevant stakeholders to achieve the desired goals, pointing out that violators will face the full wrath of the law.
Relevant stakeholders and participants at the one-day event later visited Sobi Hills and the Kwara Sugar Film Factory as part of activities marking the celebration.
End
By: Fabian Apechihin
The Federal Airports Authority of Nigeria (FAAN) has introduced a new contactless and cashless payment system, tagged Operation Go Cashless, in partnership with Paystack.
In a statement on Thursday, FAAN announced that the initiative will take effect from September 29, 2025, at Murtala Muhammed International Airport, Lagos, and Nnamdi Azikiwe International Airport, Abuja.
“Effective September 29, 2025, all payments at FAAN revenue points, including airport access gates, car parks, and FAAN VIP and protocol lounges, will go cashless. This means we will be phasing out cash collection at these points,” the statement read.
According to FAAN, the new system will provide travellers and airport users with faster, more seamless services through a secure, contactless platform. The agency explained that the shift responds to rising demand for modern, transparent payment methods and aligns Nigeria’s airports with global digital standards.
FAAN added that reducing cash handling will enhance efficiency, strengthen revenue assurance, and improve customer experience. It also noted that the cashless policy will be gradually extended to other airports nationwide.
Do you want me to make this version more concise for a press release headline or keep it as a detailed report?
BREAKING: Tinubu’s Minister, Uche Nnaji, Resigns Amid Certificate Forgery Scandal
INEC Chairman, Yakubu Hands Over
There’s Political Genocide Against Christians in Northern Nigeria – Aisha Yesufu
-
Uncategorized5 years agoFG, states urged to harness flooding for ranching, others with technology – Agbaje
-
Headlines10 years agoBreaking: EFCC seals Borno House of Assembly, as Hon members take to their heels
-
News11 years agoNigeria Security Operatives Stage Manhunt For Homosexual Perpetrator
-
News9 years agoHow 21-year-old Girl fled community over accusation of lesbianism
-
News10 years agoYobe Gov Moves Against Deputy
-
Opinion6 years ago7 signs she has friend zoned you
-
Technology4 years ago
Online job placement company headhunts women
-
Headlines9 years agoBorno Dep Gov Abducts Another Church Leader