Economy
Trump’s Return Will Decelerate ‘Hypocritical’ Global Energy Transition Narrative – Lokpobiri
Trump’s Return Will Decelerate ‘Hypocritical’ Global Energy Transition Narrative – Lokpobiri
Trump’s return will decelerate ‘hypocritical’ global energy transition narrative – Lokpobiri. Heineken Lokpobiri, minister of state for petroleum resources (Oil), says the return of Donald Trump as United States (US) president will decelerate the “hypocritical” global energy transition narrative.
Lokpobiri spoke on Monday during the opening ceremony of the Nigerian Pavilion, hosted by the Petroleum Technology Association of Nigeria (PETAN), at the ongoing Offshore Technology Conference (OTC) in Houston, Texas, US.
The theme of the 2025 PETAN conference is “Africa’s Energy Renaissance: Leveraging Innovation and Natural Gas for Sustainable Development”.
Lokpobiri said the energy transition narrative has put Africa at a disadvantage.
According to the minister, the current global conversation around energy transition is heavily shaped by geopolitical interests.
He urged African countries to form a united front in tackling energy poverty, adding that fragmented approaches will not address the continent’s growing energy deficit.
Lokpobiri also said the African Petroleum Producers Organisation (APPO) was established to foster regional collaboration and develop shared solutions to the continent’s energy challenges.
In December 2023, Mele Kyari, the former group chief executive officer (GCEO) of the Nigerian National Petroleum Company (NNPC) Limited, called for a just and differentiated energy transition.
Speaking at the sidelines of the 28th United Nations climate change conference (COP28) in Dubai, United Arab Emirates (UAE), Kyari said what should be addressed first is Africa’s energy poverty.
‘AFRICAN ENERGY BANK TO BEGIN OPERATIONS IN Q2’
In response to the challenge, he announced that APPO is in the process of establishing the African Energy Bank (AEB) to bridge funding gaps and ultimately free the continent from energy poverty.
“This is an opportunity to let you know that your concerns are gradually being addressed,” the minister said.
“As members of APPO, we are in partnership with Afreximbank, which during our last meeting disclosed that it has an exposure of nearly $14 billion.
“This amount, along with an additional $5 billion as the initial take-off capital, will be transferred to the African Energy Bank — bringing the total to over $19 billion.”
He said the bank is expected to commence operations within the current quarter and called on African nations to repatriate foreign-held investments to strengthen the initiative.
During a bilateral meeting on the sidelines of the conference, Lokpobiri advised Ghana to learn from Nigeria’s early experiences in the energy industry.
In his address, John Abdullahi, Ghana’s minister of energy and green transition, acknowledged Nigeria’s leadership in the region.
He noted that although Ghana is still emerging in the oil and gas industry, the country is keen to draw lessons from Nigeria’s reforms, particularly in local content development and climate-related policies.
“We will continue to consult Nigeria as we build a successful oil and gas industry,” Abdullahi said.

Tinubu
“The collaboration between both countries remains strong.”
‘OTC REMAINS STRATEGIC FOR NIGERIA’
In his remarks, Wole Ogunsanya, chairman of PETAN, said OTC 2025 will amplify Africa’s growing relevance in the global energy sector.
Ogunsanya said the Nigerian Pavilion will bring together top-tier industry leaders, policymakers, and stakeholders.
He recalled that two decades ago, the Nigerian National Petroleum Corporation (NNPC) tasked PETAN with coordinating Nigeria’s participation at OTC with the primary objective of attracting investment and fostering strategic partnerships.
Ogunsanya stressed the need for Nigeria to continue building capacity and creating value across the oil and gas value chain.
Economy
Lagos Assembly Strongly Seeks Suspension Of Makoko Demolition
Lagos Assembly Strongly Seeks Suspension Of Makoko Demolition
Lagos assembly strongly seeks suspension of Makoko demolition. The Lagos state house of assembly has called for the suspension of demolition activities in Makoko, Oko-Agbon and Shogunro waterfront communities following protests by displaced residents and growing public concern over the exercise.
The call was announced on Tuesday by Noheem Adams, chairman of an ad hoc committee set up by Mudashiru Obasa, speaker of the house, during a stakeholders’ meeting held at the Lateef Jakande auditorium.
Adams called on all state ministries to cease demolition work and promised compensation to the affected residents.
“On behalf of the speaker and all 40 members of the house, we are directing that all demolitions in Makoko, Oko-Agbon, and Shogunro communities should stop from today until further notice,” New Telegraph quoted Adams as saying.
He called for transparency by demanding the full list of taskforce members and the criteria used for engagement, insisting that residents must be actively involved in the process.
“That the taskforce that was constituted, we want to see the list of the taskforce because we want the residents to be duly involved and to be carried along. So we want to have the schedule of those task forces and the criteria for those that we are inviting,” Adams added.

Lagos Assembly
“To the residents of Makoko, Oko-Agbon and Shogunro communities, as your representatives, we are giving you all assurances that they will stop demolitions henceforth and there will be compensations for all those whose properties have been demolished.”
Stephen Ogundipe, member of the ad-hoc, said there is need for clear communication, adding that residents targeted for relocation or redevelopment must be informed of the government’s plans in advance.
Babatunde Olajide, special adviser to governor of Lagos on E-GIS and urban renewal, confirmed that $2 million had been earmarked since 2021 to transform Makoko into a modern, internationally compliant water city.
He said enumeration of affected properties is underway and reiterated the administration’s commitment to handling the situation with a human face, prioritizing resident safety and fair compensation.
Yusuf Sagra, baale of Makoko, described the assembly’s decision as a “word of peace,” while Orioye Ogungbure, another leader of the community, praised the “democratic responsiveness” of the government.
Crime
EFCC Arrests Kannywood Star, Samha Inuwa for Alleged Naira Mutilation In Viral Video
EFCC Arrests Kannywood Star, Samha Inuwa for Alleged Naira Mutilation In Viral Video
EFCC arrests Kannywood Star, Samha Inuwa for alleged naira mutilation in viral video. The Kano Zonal Directorate of the Economic and Financial Crimes Commission, EFCC, on Tuesday, February 3, 2026 arrested a Kannywood Star, Samha Inuwa over alleged Naira mutilation.
Inuwa was arrested following a viral video circulated on social media platforms where she was seen conspicuously cleaning mucus from her nose using Naira notes.

EFCC
Following the release of the viral video, the Commission swung into action by tracing and subsequently arrested her to answer questions.
She is currently being held at the Commission’s detention facility while investigation is ongoing.
The suspect will be charged to court upon conclusion of investigations.
Dele Oyewale
Head, Media & Publicity
February 3, 2026
Economy
Access Bank Gets New Board Chair Ifeyinwa Osime
Access Bank Gets New Board Chair Ifeyinwa Osime
Access Bank gets new board chair Ifeyinwa Osime. Access Bank Plc has appointed Ifeyinwa Osime as chair of the board of directors, following the retirement of Paul Usoro, on January 29.
Access Bank Plc has appointed Ifeyinwa Osime as chair of the board of directors, following the retirement of Paul Usoro, on January 29, according to a statement to the Nigerian Exchange Ltd. on Monday.
Ms Osime, a legal practitioner, joined Access Bank’s board in November 2019 as an independent non-executive director and had chaired its Human Resources and Sustainability Committee and the Governance, Nomination, and Remuneration Committee. This role made her contribute significantly to the bank’s corporate governance, leadership development, and sustainability initiatives.
Additionally, Ms Osime is a director at Ebudo Trust Ltd. and a partner at McPherson Legal Practitioners, where she advises on corporate and commercial matters and contributes to strategic leadership.
She is also a member of the Nigerian Bar Association, the Women Corporate Directors, Nigeria Chapter, and the Chartered Institute of Directors, Nigeria, where she serves on the Executive Committee of the Women Sectoral Group.

Access Bank Gets New Board Chair Ifeyinwa Osime
Beyond her professional responsibilities, Ms Osime is committed to mentoring youths and is actively involved in the Autism and Developmental Delays Support Community, reflecting her dedication to inclusion and social impact.
Speaking on her appointment, the group chairman, Aigboje Aig-lmoukhuede, said, “Mrs Osime is a principled and experienced leader with a deep understanding of the Bank’s strategy and values.
“She has demonstrated strong commitment to the bank’s vision and mission, and I am confident that, under her leadership, the bank will continue to advance its strategic objectives of delivering sustainable value to shareholders and other stakeholders in the pursuit of its vision to become the world’s most respected African bank.”
Mr Aig-lmoukhuede also congratulated Mr Usoro on the completion of his tenure and on his exemplary leadership, dedication, and significant contributions to the group, saying he remains a valued member of the Access family.
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