Business

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

Published

3 years ago

July 10, 2023

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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.

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Business

Emir Sanusi mobilises Kano People “Buy Dangote Refinery’s Shares Now”

“I speak as the Emir of Kano; I would like my people to be owners of this company . I do not want us to be left behind in the capital markets. I do not want us to be left behind in financial inclusion. So this is the time and this is the opportunity,” said Sanusi.

Published

24 hours ago

September 17, 2026

OCHEFA

17 Views

The Emir of Kano, Muhammadu Sanusi II, has praised Kano-born businessman Aliko Dangote and encouraged residents to secure a stake in the Dangote Refinery and Petrochemical Plc before the public offering closes.

The royal father made the call on Thursday during the Dangote Refinery IPO investor roadshow in Kano, urging residents to invest only disposable income they can afford to lock away for the long term.

His words, “Do not take your children’s school fees and put in shares. Do not sell the house that you live in and put in shares.

“Buy what you can afford, 10,000, 20,000, 30,000 – what you can afford to set aside for some time, set it aside.

And if you look at the fundamentals of the economy, over time you can be assured that this investment will grow, and you will not regret it.

He also advised prospective investors to choose a long-term approach rather than buying shares in anticipation of quick profits.

“And I’m not talking about someone who will buy 5,000 shares and want to sell tomorrow and believe he will get 10,000. No, I’m talking about you have some money, put it in, leave it there for some time, and just watch your money grow.

Forget about it for some time. You’ll be surprised in five years the 10,000 Naira you invest today, what it will be,” Sanusi said.

Business

Nigerians Speak As Petrol sells N1,500/litre

A visit to filling stations showed that motorists were purchasing the commodity for between N1,450 and N1,500 per litre, against the former price of N1,350.

Published

1 day ago

September 17, 2026

OCHEFA

24 Views

NIGERIANS across the 36 states and the Federal Capital Territory – Abuja, are complaining bitterly as the pump prices of Premium Motor Spirit, popularly known as petrol, is selling for as much as N1,500 per litre nationwide .

According to the Prices across states tracked by the PUNCH, the cost of the commodity has continued to rise nationwide, selling for as high as N1,500 in many states.

In Yobe State, residents reported that petrol was selling for between N1,500 and N1,520 per litre at some filling stations in Damaturu, the state capital.

Similarly, a tricycle rider in the state capital, Musa Ibrahim, said he buys the commodity for about N1,500 per litre at some Nigerian National Petroleum Company filling stations.

Also speaking, a civil servant, Lawan Garba, said some filling stations were selling petrol at an even higher price.

“I am buying petrol at N1,520 per litre in some petrol stations,” Garba said.

In Kano State, petrol was selling for between N1,460 and N1,500 per litre at most filling stations in the metropolis. The increase has forced some vehicle owners to park their vehicles, while commercial tricycle operators, popularly known as “yan’ adaidaita sahu”, have also increased their fares by about 50 per cent, depending on the distance.

The operators who used to charge N200 for a short distance now collect N300, while they charge between N500 and N700 for longer distances.In Sokoto State, petrol prices rose to between N1,465 and N1,500 per litre in the metropolis.

Checks by our correspondent showed that the product had risen from the previous price of N1,365 per litre.

At some filling stations, including AA Rano, Shafa and Total, petrol was sold for N1,465 per litre, while major marketers sold it for between N1,470 and N1,500 per litre.

In Borno State, a litre of petrol was selling for N1,500 at filling stations in Maiduguri, the state capital.

A motorist, Ishaku Curutsi, confirmed to our correspondent that he bought petrol from Matrix filling station for N1,500 per litre on Wednesday. “I bought it this morning, and a litre at Matrix cost 1,500,” he said.

In Taraba State, the price of petrol had risen to N1,500 per litre, with motorists and commuters reporting prices of between N1,500 and N1,700 per litre at some filling stations.

The development is expected to further increase the cost of transportation and movement of goods within the state.In Zamfara State, a litre of petrol was selling for N1,500 in Gusau, the state capital, and its environs.

A visit to filling stations showed that motorists were purchasing the commodity for between N1,450 and N1,500 per litre, against the former price of N1,350.

At Danmarina filling station, motorists were seen purchasing the commodity amid complaints about the increase. One of the motorists, who gave his name as Musa Idris, said the current price was putting pressure on consumers.

• Culled from the PUNCH