Business
Africa Climate Summit begins in Ethiopia today
The first edition of the summit was held in Nairobi, Kenya, in 2023, where African leaders adopted the Nairobi Declaration — a roadmap for the continent’s green growth and financing agenda.

The second edition of the Africa Climate Summit (ACS2) commenced today in Addis Ababa, Ethiopia
Themed ‘Accelerating Global Climate Solutions: Financing for Africa’s Resilient and Green Development’, the summit is billed for September 8-10, is being attended by world leaders, private Sector delegates, and top United Nations officials; policymakers, climate experts, and civil society.
Inputs from the deliberations will be used to forge a common African position ahead of the COP30 negotiations scheduled for Brazil next year.
Discussions will centre on how Africa can tap its vast renewable energy potential, showcase homegrown technology, attract climate finance, and strike a balance between development priorities and urgent climate action.
The first edition of the summit was held in Nairobi, Kenya, in 2023, where African leaders adopted the Nairobi Declaration — a roadmap for the continent’s green growth and financing agenda.
Business
UPDATE: NUPENG Accuses Dangote Refinery of Fuel Sector Monopoly, Warns of Massive Job Losses

The Nigerian Union of Petroleum and Natural Gas Workers (NUPENG), representing Petroleum and Tanker Drivers (PTD), has condemned Dangote Refinery’s decision to deploy 10,000 Compressed Natural Gas (CNG) tankers for petroleum product distribution, calling it a monopoly that threatens the livelihood of thousands of workers in the sector.
NUPENG described the move as anti-labour and harmful to PTD members, highlighting that drivers recruited by Dangote for these operations are reportedly barred from joining any trade union. The union warned this action violates both the 1999 Nigerian Constitution and international labour laws.
Speaking anonymously, some tanker drivers expressed concerns to journalists that unless the Nigerian Midstream and Downstream Petroleum Regulatory Authority intervenes swiftly, the situation could escalate and seriously damage the Nigerian economy, affecting millions of livelihoods.
The tanker drivers outlined several looming risks including:
- Loss of income for tanker owners and their families
- Unemployment for drivers, motor boys, and support staff
- Job losses for truck mechanics, painters, welders, and fabricators
- Decline in business for spare parts dealers, tyre and battery sellers
- Negative impact on depot representatives, artisans, and food vendors
- Financial ruin for transporters who have invested heavily in the sector
They warned that the move could result in millions of job losses, sparking social insecurity, increased poverty, and a surge in unemployment nationwide.
Business
NUPENG-Dangote Faceoff: PETROAN Backs Union
For PETROAN, don’t forget that the most critical aspect of our operations is our retail outlets staff, and the people who are handling these are in the union.

Billy Gillis-Harry, national president of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) said on Monday: “It’s much better for efficiency that all retail outlets must belong to a union. If not, then you go to a station and buy one litre for maybe N2,000, and then you get to other places and buy for N800, and there will be no sanctions because there is no union for internal control.”
Gillis-Harry, in a public statement while reacting to the the dispute between the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) and Dangote refinery, said that workers’ rights were being violated, which prompted NUPENG’s decision to declare a “warning strike”.
“It is not that they have gone on strike. But they are giving a warning that the situation can become very tasking and troublesome for Nigerians. So let us all get it solved, and I think it is the right idea,” he said.
“For PETROAN, don’t forget that the most critical aspect of our operations is our retail outlets staff, and the people who are handling these are in the union.
So once the NUPENG strike takes effect, our stations will effectively be locked up.”On September 7, the federal government appealed to NUPENG to suspend its planned nationwide strike, while scheduling a reconciliation meeting for Monday.
Business
Cross River to Host 2026 AfSNET 2026 Investment Conference
Some projects that have materialised from the AfSNET initiative include funding industrial parks and Special Economic Zones in Ogun State, Nigeria, and supporting deep seaport development in Cross River State, Nigeria.

• President & Chairman of the Board of Directors of Afreximbank, Prof Benedict Oramah and the Executive Governor of Cross River State, Prince Bassey Edet Otu during the event in Algiers.
The 2026 edition of African Sub-Sovereign Governments Network Investment Conference (AfSNET), an initiative of African Export-Import Bank (Afreximbank), will be hosted by the Government of Cross River State.
Some projects that have materialised from the AfSNET initiative include funding industrial parks and Special Economic Zones in Ogun State, Nigeria, and supporting deep seaport development in Cross River State, Nigeria.
The agreement was signed during the Sub-Sovereign Business Engagement session held on the margins of the ongoing Intra-African Trade Fair 2025 (IATF2025) in Algiers, Algeria.
It was signed by the President & Chairman of the Board of Directors of Afreximbank, Prof Benedict Oramah and the Governor of Cross River State, Prince Bassey Edet Otu.
The event will convene sub-sovereign leaders, investors, development partners, and key stakeholders to explore trade and investment opportunities across Africa.
The annual conference aims to put city and state governments at the centre of intra-African trade.
The 2026 edition will spotlight investment-ready projects, facilitate matchmaking between investors and local governments, and promote regional integration.
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