Connect with us

Business

Tony Elumelu Meets U.K. King Charles, U.S. President Biden, As World Leaders Convene for Climate Finance Forum

Published

on

130 Views

Investor and Philanthropist, Tony O. Elumelu, CFR, who also doubles as Chairman of Heirs Holdings, will join King Charles III of the United Kingdom and U.S. President Biden at the Climate Finance Mobilisation Forum in London today to help attract a new generation of capital to combat climate change.

Mr. Elumelu is one of Africa’s most prominent advocates for equitable climate finance and is a leading funder of young African entrepreneurs – through the Tony Elumelu Foundation – working to create sustainable climate solutions.

“Africa needs a just, fair, equal and a realistic strategy to address the inequalities that exist between Africa and the rest of the world,” Elumelu said.

Africa has a significant energy deficit and must prioritize the provision of a mix of both traditional and renewable energy. Emerging economies, particularly in Africa, will require an additional $1 trillion of investment per annum by 2030 to support a fair transition. To mobilise this scale of capital, the world needs bold actions and innovative new partnerships between public, private, and philanthropic actors.

Recent trends show a decrease in renewable energy investment to emerging and developing economies. Africa’s green revolution requires urgent, immediate and significant funding – funding that is larger than the resources available to African governments, and private sector. As Elumelu repeatedly champions, Africa has contributed the least to today’s climate crisis, but continues to suffer an outsized impact of climate change.

Elumelu, who will be representing the African private sector, was invited to the forum by Grant Sharps, UK Secretary of State for Energy Security and Net Zero, and John Kerry, the US Special Presidential Envoy on Climate. The invitation came at the request of King Charles III and US President Joe Biden.

“A Net Zero conversation that ignores, dismisses, or underestimates the continent’s current reality does us all more harm than good,” Elumelu said. “Climate finance investment should deploy capital to a mix of on and off-grid solutions that are required to deliver affordable, reliable, and accessible power in Africa.”

According to Elumelu, “Africans bear the harshest effects of the climate crisis and are the least responsible for creating this crisis in the first place.”

This meeting follows the Summit for a New Global Financing Pact, which Elumelu participated in Paris, hosted by H.E. Emmanuel Macron, the President of France. The Summit laid the groundwork for a new financial system suited to the challenges of the 21st century: a system that will boost investments in green infrastructure and create innovative solutions to climate vulnerability.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

UPDATE: Dangote Refinery Cuts Fuel Prices, Updates Petrol Supply

Published

on

25 Views

Dangote Refinery has announced a nationwide petrol price cut, ahead of the launch of its direct fuel distribution initiative now set for Monday, September 15, 2025.

Originally scheduled for August 15, the initiative will see the $20 billion, 650,000 bpd refinery deliver petrol and diesel directly to consumers using 4,000 CNG trucks, with zero logistics cost.

Despite an ongoing dispute with NUPENG, Dangote Group released a fresh price template on its X account, confirming its gantry price remains N820 per litre.

Retail prices have dropped to N841 per litre in Lagos and the South-West (from N860), and N851 per litre in Abuja, South-South, and North Central states (from N885)—a reduction of N19 to N34 per litre, depending on the location.

The new prices apply only to MRS and Dangote’s official distribution partners, as independent marketers are not bound by the template.

Meanwhile, NUPENG has threatened a fresh strike, accusing Dangote of reneging on earlier agreements—a claim the company denies, affirming workers’ right to union membership.

Continue Reading

Business

Dangote Refinery Mgt Says Workers Union Membership is Personal Choices

It urged NUPENG to focus on resolving its internal dispute with the Petrol Tanker Drivers unit rather than “embroiling the refinery in its conflicts.

Published

on

By

37 Views

Dangote Petroleum Refinery has said membership of trade unions by its employees remains voluntary and not compulsory, in line with the Nigerian Constitution and International Labour Organisation conventions.

In a statement made available to Ohibaba.com, the company accused what it described as “distortions of facts” by the Nigeria Union of Petroleum and Natural Gas Workers concerning its trade relations with workers.

The refinery stressed that it does not interfere with or restrict employees’ right to freely join legally recognised unions.

“It is therefore misplaced to attribute responsibility to Dangote Petroleum Refinery for the personal choices made by drivers regarding union affiliation,” the company stated.

Dangote dismissed allegations that it forced drivers to sign contracts barring union membership, describing the claim as unfounded.

It urged NUPENG to focus on resolving its internal dispute with the Petrol Tanker Drivers unit rather than “embroiling the refinery in its conflicts.

”The company added that accusations of union suppression formed part of a broader attempt to undermine private sector progress.

Continue Reading

Business

NUPENG Dangote Union Memberships Agreement Collapses: What Happened Again?

Akporeha alleged that within 48 hours, Dantata ordered drivers to strip NUPENG stickers from their vehicles and forcefully enter the refinery in violation of union loading procedures.

Published

on

By

30 Views

The agreement between the Nigerian Union of Petroleum and Natural Gas Workers and the Dangote Petroleum Refinery has collapsed, and here’s why.

The confrontation follows allegations by NUPENG that the Dangote Group reneged on a Memorandum of Understanding signed earlier this week, under which the refinery agreed to allow tanker drivers and other workers to freely unionise.

On Thursday, NUPENG’s National President, Williams Akporeha, accused Sayyu Aliu Dantata, a cousin of Aliko Dangote and key player in the refinery’s trucking operations, of defying the resolution reached on September 9 at the Department of State Services headquarters in Abuja.

The meeting, mediated by the Minister of Labour and Employment, Muhammadu Dingyadi, affirmed the rights of Petroleum Tanker Drivers under NUPENG to unionise. Representatives of the Nigeria Labour Congress, Trade Union Congress, DSS, and other agencies witnessed the signing of the MoU.

But Akporeha alleged that within 48 hours, Dantata ordered drivers to strip NUPENG stickers from their vehicles and forcefully enter the refinery in violation of union loading procedures.

“Alhaji Sayyu Aliu Dantata flew over them several times with his helicopter and then called the navy of the Federal Republic to come over ostensibly to crush the union officials. Our members are waiting for him and his agents to run them over,” Akporeha said in a statement.

The union condemned what it described as Dantata’s “impunity” and warned the Federal Government not to allow security agencies funded by taxpayers to be used against workers.

Continue Reading

Trending