General News
Major African Power Projects Key Focus Of London Summit

Africa’s power deficit is a major constraint on economic growth and social development; The Global African Investment Summit (‘TGAIS’) in London will bring together African governments and the international finance community to tackle this critical issue.
With government delegations presenting bankable investment projects to global investors, TGAIS will help secure funding needed to transform Africa’s economies from some of the world’s largest financial institutions and investment funds.
Excluding South Africa, per capita consumption of electricity in sub-Saharan Africa is 10 KWh (kilowatt hours) per month, in high income countries this figure is almost 1000 KWh.
In some countries in Africa, backup generators supply up to half total generation capacity, explaining, in part, why electricity is more expensive on the continent than anywhere else in the world; up to three times as much as those in the United States or Europe.
This is a social disaster, reducing Africa’s ability to create jobs or industrialise its economies. At a basic livelihoods level, there are 600 million people on the continent with no regular access to power, relying solely on charcoal, wood and biomass for cooking.
To achieve the target of universal access to electricity in Africa by 2030, the International Energy Agency states that sub-Saharan Africa will need more than $300 billion in investment.
For international investors, this demand is well recognised, but identifying specific projects that have the right legal, regulatory and political support and will bring returns on investment is not straightforward.
All these aspects are critical for financiers to see a project as investable.
TGAIS is working with African governments to bring those bankable projects to the international market.
Organised by Chief Olusegun Obasanjo, former Nigerian President and led by the Presidents of Rwanda, Uganda, Ghana, Tanzania and Togo, TGAIS will present major power projects from across the continent including green-field gas, solar and wind plants as well as national distribution networks and privatisation opportunities.
One such project is the Grand Inga Dam, a project that – if realised – will revolutionise the supply of power to Africa by providing as much as 40,000 megawatts to southern Africa.
The electricity will be far cheaper than current supply and, critically, comes from a renewable source. The energy produced by just this one dam could power homes and businesses in the Democratic Republic of Congo, South Africa and possible other countries in the region.
The dam already has World Bank support through technical assistance funds to help make the project bankable for investors.
Claver Gatete, Rwandan minister of Finance and Economic Planning was keen to highlight the significance of being able to meet international investors at TGAIS, “It’s great that our government gets to go to events like The Global African Investment Summit in London to profile investment opportunities in Rwanda. What we want investors to know is that we need their investment and that we provide the right incentives and have created one of the best business environments that can be found anywhere in the world.”
Amama Mbabazi, Ugandan Prime Minister highlighted the significance of finding the right investors for his country; “we have a number of important projects that will help the Ugandan economy grow substantially. Finding the best investors for those projects is crucial to knowing that they will be undertaken in a way that creates shared value and promotes long-term sustainability.”
TGAIS also receives strong support from the UK’s government, with Minister for Africa Mark Simmonds hosting a gala reception at the Foreign and Commonwealth Office for all participants.
Senior African government delegates will also be invited to Buckingham Palace for a VIP luncheon on the opening day.
The inaugural Global African Investment Summit, run in partnership with four African state houses, is the only platform that brings together the public and private sectors to discuss specific transactions, access to finance, and bankable projects in Sub Saharan Africa requiring investment and technology transfer.
African Presidents will travel to the event with Finance ministers, sector specific ministers and CEOs from state owned enterprises to address and hear from the global financial markets, project implementers, consultants and law firms about co-financing and executing their most pressing projects in agribusiness, natural resources, power, and transport infrastructure.
General News
FirstBank Celebrates ₦1 Trillion Milestone in Instant Loans via AI-Powered Platforms

FirstBank, a leading financial institution and provider of financial inclusion services in West Africa, announces the achievement of ₦1 trillion in cumulative instant digital loan disbursements.
This accomplishment further consolidates the Bank’s reputation for innovation, leadership in financial inclusion, and commitment to customer empowerment within.
Since its inaugural digital loan in August 2019, FirstBank has developed an unconventional and robust digital lending ecosystem designed with Artificial Intelligence and Machine Learning, to improve access to finance, especially to the high-risk customer segment.
The Bank created a multi- channel loan disbursement service that requires no collaterals, zero documentation and is void of human interactions. Through its FirstAdvance, FirstCredit and AgentCredit products, 1.5 million unique borrowers enjoyed instant and secure access to credit.
This is irrespective of whether they are salary earners, non-salary earners, or micro business owners. They also have the convenient options of accessing these loans through platforms such as *894# (FirstBank’s USSD service), FirstMobile, LitApp and the FirstMonie Agent App.
Regarding this milestone, Chuma Ezirim, Group Executive, e-Business & Retail Products at FirstBank, stated: “This success underscores our ongoing commitment to innovation and a customer-focused approach, which are central to FirstBank’s core values. Beyond achieving substantial figures, we remain dedicated to fostering opportunities for financial independence across Nigeria in particular, and in Africa at large.’’
He added, “We value the trust our customers place in us to support their financial aspirations. Our efforts to advance digital lending will persist, especially to the excluded and underserved customer segments, while effectively managing risks in the process.”
FirstBank currently disburses about N1 Billion daily in digital loans, demonstrating its commitment to fostering an inclusive, technology-driven future for Nigerians. By consistently investing in advanced technologies and developing customised financial solutions, the Bank seeks to improve the financial well-being of individuals and businesses across the nation.
General News
Mayor of London Commits to Deepening UK-Nigeria Ties in Tech, Creatives and Trade

The Mayor of London, Sadiq Khan, has successfully concluded his visit to Lagos, Nigeria, aimed at strengthening the UK-Nigeria economic relationship and celebrating the deep cultural ties, shared vibrancy, and global influence of two dynamic cities – London and Lagos.
This visit marked the growing importance of Nigeria as a key partner in the UK’s global trade and investment strategy, particularly in sectors such as fintech, innovation, and the creative economy.
Alongside the visit, the Mayor of London led a trade delegation of 27 London-based companies in fintech, enterprise technology, and sustainability, supported by the Mayor’s growth agency, London & Partners. Under the leadership of Howard Dawber OBE, Deputy Mayor for Business and Growth, the agency facilitated a series of high-level engagements in Nigeria.
The delegation connected with Nigerian policymakers, investors, and creatives through curated events aimed at fostering collaboration and unlocking new business opportunities across Africa.
This visit marked the first official trip by a sitting Mayor of London to sub-Saharan Africa, underscoring London’s commitment to building long-term, cross-sector partnerships that support inclusive growth, digital transformation, and cultural exchange.
Mayor Khan’s engagements in Lagos commenced with participation in a panel discussion at the “Bridging Borders: How London and Lagos Can Shape the Future of Global Tech” tech event where he highlighted how London and Lagos can jointly shape the future of global innovation and encouraged Nigerian tech businesses to invest in London.
The Mayor of London also attended the Lagos Canvas Reception, a celebration of Nigeria’s flourishing creative sector which he co-hosted with Mo Abudu at the Ebony Life place.
The reception celebrated the status of Lagos and London as cultural and creative industry powerhouses and looked to encourage even greater ties between the creative industry ecosystems in both cities.
From the arts to fashion, music and film – central to the UK-Nigeria Enhanced Trade and Investment Partnership (ETIP) – which is expanding trade and unlocking new opportunities in the creative economy.
Wrapping up his visit to Lagos, Nigeria, the Mayor of London will continue his historic trade mission with stops in Accra, Johannesburg and Cape Town to bang the drum for the capital as a place for investment, innovation, and cultural exchange – strengthening ties with countries across the African continent for economic growth.
The Mayor of London, Sadiq Khan, said: “I am delighted to be visiting Nigeria and Africa this week – the first visit of its kind by a Mayor of London – to bang the drum for the capital and further develop the strong ties between our countries.
“Africa has the world’s fastest growing populations and is seeing major economic growth across many of its economies. Over the next decade there are huge opportunities to deepen partnerships with London. I will be working tirelessly throughout this visit to drive trade and investment across critical sectors including finance, education, health, tech creative and sustainability.
“Londoners of African heritage have played, and continue to play, a huge role in making London the greatest city in the world, and this trip is an opportunity to celebrate our shared heritage, history and culture with the African continent – as we build a better and fairer city for everyone.”
British Deputy High Commissioner in Lagos, Mr. Jonny Baxter, said: “The Mayor of London’s visit underscores the UK Government’s commitment to strengthening economic and cultural ties with Nigeria. From trade to fintech and fashion, our collaboration is driving innovation and growth.
“Through the UK-Nigeria Enhanced Trade and Investment Partnership, we’re committed to unlocking new opportunities that benefit both our economies, and this visit is a powerful step forward in that journey of inclusive growth.”
UK Minister for Africa, Lord Collins of Highbury, said: “Sir Sadiq’s visit marks an exciting moment for the UK’s relationship with countries across Africa and is a strong demonstration of our commitment to deepening our ties with the continent.
“Strengthening our trade, investment, and cultural ties is not only vital for shared economic growth, but also for fostering long-term partnerships that are rooted in respect and open up opportunities for all.”
General News
FG to Launch Fully Digital Expatriate Residence Permit Application Portal August 1

The Nigeria Immigration Service (NIS) has announced the rollout of a fully digital application system for the Combined Expatriate Residence Permit and Aliens Card (CERPAC).
The new online portal, https://cerpac.immigration.gov.ng, will become the exclusive platform for submitting CERPAC applications from August 1, 2025.
According to NIS, the digital migration is part of the Federal Government’s broader initiative to reform the immigration system by promoting transparency, improving operational efficiency, and enhancing the overall user experience for expatriates and organizations interacting with the Service.
In a press statement signed by A.S Akinlabi, Service Public Relations Officer, the NIS disclosed that manual or physical CERPAC forms will be completely phased out by July 31, 2025.
It noted that after this date, all applications must be submitted exclusively through the online portal.
The Service has advised applicants who have paid for physical forms but are yet to complete the submission process to do so on or before July 31, 2025, warning that any unsubmitted applications after the deadline will be deemed invalid, and associated payments may be forfeited.
Companies and individuals assuming Immigration Responsibility (IR) for expatriates have also been urged to ensure that all outstanding applications are finalized within the stipulated timeframe, to avoid potential delays or administrative setbacks.
“This digital transition marks a critical milestone in our effort to simplify processes and serve the public better,” the statement reads.
The NIS urged members of the public to direct all inquiries and correspondence regarding the new digital process to the office of the Public Relations Officer at the Service Headquarters in Abuja.
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