Business
Global Energy Industry adds 5 million jobs , says iea
Applied technical roles such as electricians, pipefitters, line workers, plant operators and nuclear engineers are in especially short supply.
image credit : iea
The International Energy Agency says that the global energy sector created 5 million employments in the past five years (2019-2024) to reached 76 million people worldwide.
The agency, in its just released World Energy Employment 2025, however warns of deepening skilled labour shortages: “Applied technical roles such as electricians, pipefitters, line workers, plant operators and nuclear engineers are in especially short supply. “
“Out of 700 energy-related companies, unions and training institutions participating in the IEA’s Energy Employment Survey, more than half of them reported critical hiring bottlenecks that threaten to slow the building of energy infrastructure, delay projects and raise system costs,”iea said.
According to the report, the power sector is leading the way on job creation, accounting for three-quarters of recent employment growth, and is now the largest employer in energy, overtaking fuel supply.
Solar PV is a key driver of growth, complemented by rapid expansions in hiring in nuclear power, grids and storage.
Increasing electrification of other sectors of the economy is also reshaping employment trends, with jobs in EV manufacturing and batteries surging by nearly 800 000 in 2024.
Fossil fuel employment remained resilient in 2024.
Coal jobs rebounded in India, China and Indonesia, pushing employment in the coal industry 8% above its 2019 levels despite steep declines in advanced economies.
The oil and gas industry has also regained most of the jobs lost in 2020, although low prices and economic uncertainties have triggered job cuts in 2025.
Based on early data, energy employment growth is expected to moderate to 1.3% in 2025, reflecting persistently tight labour markets and heightened trade and geopolitical tensions that are making some firms more cautious about hiring.
Despite the strong recent performance of the overall energy sector, the supply of newly qualified workers is not keeping pace with the sector’s needs.
To prevent the skills gap from widening further by 2030, the number of new qualified entrants into the energy sector globally would need to rise by 40%.
The report shows that this would require an additional $2.6 billion per year of investment globally, representing less than 0.1% of spending on education worldwide.
“Energy has been one of the strongest and most consistent engines of job creation in the global economy during a period marked by significant uncertainties,” said IEA Executive Director Fatih Birol. “But this momentum cannot be taken for granted.
The world’s ability to build the energy infrastructure it needs depends on having enough skilled workers in place. Governments, industry and training institutions must come together to close the labour and skills gap. Left unaddressed, these shortages could slow progress, raise costs and weaken energy security.”
The Presidency says the bodies allegedly used by Adeyemi—including the so-called Presidential Economic Advisory Council, Presidential Foreign Investment Promotion Council, and Presidential Foreign Intervention Promotion Council—do not exist as government agencies.
The Presidency says a man identified as Prince Adeniyi Adeyemi Matthew allegedly created and operated fake government agencies, forged appointment letters, and falsely claimed to have been appointed by Femi Gbajabiamila.
According to the statement:
The Office of the Chief of Staff discovered the alleged scheme after complaints from the Nigerian Investment Promotion Commission (NIPC) that an unauthorized body was operating in a way that conflicted with its functions.
The Chief of Staff petitioned the Department of State Services and the Nigeria Police Force in October 2025 to investigate alleged forged appointment letters.
The Presidency says the bodies allegedly used by Adeyemi—including the so-called Presidential Economic Advisory Council, Presidential Foreign Investment Promotion Council, and Presidential Foreign Intervention Promotion Council—do not exist as government agencies.
Investigators allege Adeyemi operated from an office in the Federal Secretariat Complex, held meetings with diplomats, and sought diplomatic support to obtain U.S. visas for members of the alleged organization.
Police reportedly recovered forged documents and other exhibits during searches of his office and residence.
The investigation allegedly found that Adeyemi operated 34 bank accounts, including several in the names of fictitious organizations, and used forged documents to open a Central Bank of Nigeria account.
The Presidency says no government funds were paid into that account.
Police charged Adeyemi and two others before the Federal High Court on multiple counts, including forgery, impersonation, and obtaining by false pretence. The case is scheduled for hearing on July 27.
The Presidency also denied claims that Gbajabiamila appointed Adeyemi, stating that appointments to federal offices are issued through the Office of the Secretary to the Government of the Federation, not the Office of the Chief of Staff.
Current status
The Presidency maintains that:
the agencies in question are fictitious,
the appointment letter was forged,
Adeyemi is an impostor,
and the allegations against him should be resolved by the court.
As the case is pending before the court, the allegations remain subject to judicial determination.
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Business
CBN revokes 46 MFBs’ licences
According to the revocation order, the action became necessary because of one or more of: insufficient assets to meet liabilities; closure of operations without the CBN approval; and inactivity and cessation of financial intermediation.
The Central Bank of Nigeria (CBN) has revoked the operating licences of 46 Microfinance Banks (MFBs).
CBN’s Ag. Director of Communications, Mrs. Hakama Sidi-Ali disclosed that the revocation becomes effective today.
She emphasised that the revocation was in accordance with its powers under Sections 12 and 13 of the Banks and Other Financial Institutions Act (BOFIA), 2020.
“The revocation was approved by the Governor of the Central Bank of Nigeria, Mr. OlayemiCardoso, following the banks’ failure to meet the regulatory requirements for continued operation as licensed financial institutions,” she said.
According to the revocation order, the action became necessary because of one or more of: insufficient assets to meet liabilities; closure of operations without the CBN approval; and inactivity and cessation of financial intermediation.
Others were: failure to commence operations within 12 months of licence approval, and failure to maintain minimum capital funds unimpaired by losses.
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