Connect with us

News

InfraCredit to Guarantee PAT’s N10bn Infrastructure Bonds Issuance

Published

on

Kindly share this post

InfraCredit has announced that it will guarantee Pan African Towers (PAT) Digital Infra Fund SPV Plc’s N10 billion 10-Year Series I Senior Guaranteed Fixed Rate Infrastructure Bonds Due 2032 (PATSeries IBonds) under the N50 billion Debt Issuance Programme.

PAT Digital Infra Fund SPV Plc is a special purpose-funding vehicle established by Pan African Towers Limited as part of the company’s capital-raising plan.

PAT is a digital telecommunications infrastructure company and wireless service facilitator, offering colocation and infrastructure sharing services to mobile network operators and internet service providers.

In a statement, the Chairman of Pan African Towers Limited, Mr. Wole Adeleke said: “PAT’s ambition is to be the number 1 indigenous wholly-owned digital telecommunications infrastructure and wireless service facilitator in Nigeria.

“In the last 3 years that we commenced business, we have demonstrated capacity to achieve faster growth in the number of our rental assets, with solid top and bottom-line performance supported by long-term contracts with leading market leaders in mobile telecommunication and internet service in Nigeria. And we are pleased that InfraCredit was able to provide full credit enhancement for this debut Bond Issuance programme.

“We are very passionate about the environment and part of the proceeds from the Bond Issue will be utilized to green our network of Build-to-Suite Towers to reduce carbon emission; an objective that aligns with that of our major customers.”

Commenting also, Chinua Azubike, the Chief Executive Officer of InfraCredit, in a statement said: “We are pleased to have supported Pan African Towers, Nigeria’s fast growing indigenous digital infrastructure service provider’s first naira issuance in the local debt capital markets for expansion and growth that will also reduce its carbon emissions.

“We are also proud to support the ambitions of Nigeria’s National Development Plan to facilitate the formation of private capital investments in digital infrastructure that will accelerate job creation and local economic growth.

“The need for digital connectivity is more essential than ever as Nigeria accounts for over 27per cent of all internet usage in Africa, and much of this internet access are powered by telecommunication infrastructure service providers like PAT.

“This transaction strongly demonstrates the especially important role of the local pension funds in the allocation of long-term domestic credit to the private sector for sustainable development. PAT’s remarkable growth over the past four years of operation has been underpinned by its cost efficiency leadership and service quality philosophy.

“With over 1,000 long lease tenancy contracts fromleading telecommunications service providers, especially tier-1 players like MTN, Airtel and 9mobile, PAT is the third largest and the only major local infrastructure service provider and wireless service facilitator in the Nigerian telecommunications subsector.”


Kindly share this post

Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

News

FG to Move 5m Homes to Clean Cooking by 2030 — Minister

Published

on

Kindly share this post

Ekperikpe Ekpo, minister for State, Petroleum Resources (Gas), said it is working towards a renewed target of moving about five million homes to clean cooking by 2030.

FG to Move 5m Homes to Clean Cooking by 2030 — Minister

Ekpo, made the declaration while delivering the ministerial address and remarks on Monday at the opening ceremony of the 48th Nigeria Annual International Conference & Exhibition (NAICE) 2025.

This year’s conference is themed ‘Building a Sustainable Energy Future: Leveraging Technology, Supply Chain, Human Resources, and Policy.’

He explained that the target can only be made possible through increased investment in gas infrastructure in critical projects such as the OB3 and AKK pipelines, progressing to deliver gas to markets nationwide; and promoting modular and scalable gas projects, including mini-LNG and CNG stations.

According to him, the government is also ramping up efforts to improve last-mile access and stimulate local economic activity and facilitate job creation through strategic public-private partnerships in the construction, logistics, and retail segments of the gas value chain.

“His Excellency, President Bola Ahmed Tinubu, GCFR, has placed gas at the heart of Nigeria’s energy strategy. His vision, aptly captured in the phrase “From Gas to Prosperity”, reflects our national ambition to utilise our abundant natural gas resources to fuel industrialisation, create jobs, and expand access to clean and affordable energy for all Nigerians.

“Over the past year, we have taken decisive steps in line with this vision. We have expanded gas supply for industrial use, prioritising gas availability for manufacturing hubs, power generation, and industrial corridors. As of today, I’ve been reassured that every gas offtaker currently receives the gas they require for their industrial processes; Rolled out the LPG Penetration Programme, distributing cylinders across the six geopolitical zones and empowering women and youth, promoting clean cooking.

“Under the Decade of Gas Initiative, we are also making meaningful strides to unlock value across the midstream and downstream sectors.

“Notably, we have facilitated the development of gas processing facilities and virtual pipeline systems, ensuring gas reaches off-grid and underserved communities, supported private sector investment in LPG and CNG infrastructure, including autogas stations, domestic cylinder manufacturing, and distribution networks, strengthened coordination via the Decade of Gas Secretariat, driving alignment and accountability across Ministries, Departments, and Agencies, Advanced the Nigerian Gas Flare Commercialisation Programme (NGFCP), converting waste to wealth while supporting environmental goals, secured presidential approvals to address legacy debts, incentivising upstream gas supply and stabilising the domestic market”, he said.

He also said the federal government has released much-needed financial support to project promoters via the Midstream Downstream Gas Infrastructure Fund (MDGIF).

“All these efforts are anchored on a single, resolute belief, which is that Nigeria’s gas must work for Nigerians, not just as an export commodity, but as a foundation for inclusive growth, national development, and energy security.”

Speaking on the four pillars highlighted in the conference theme – technology, supply chain, human resources, and policy –- the Minister noted that each plays a vital role in shaping Nigeria’s energy future.

On technology, he said the adoption of digital solutions, automation, and data-driven tools across the gas value chain is essential.

“From reservoir monitoring to distribution analytics, emerging technologies can enhance efficiency, reduce emissions, and optimise delivery. The Ministry continues to collaborate with industry players to foster digital innovation,” he said.

He explained that a strong local supply chain is essential to sustaining the gas economy.

“Through the Nigerian Content Development and Monitoring Board (NCDMB), we are driving localisation of equipment manufacturing, pipe production, and other critical components to reduce import dependence and build national resilience.

“Our human capital remains our greatest asset. We are committed to nurturing a technically sound, diverse, and future-ready workforce through continuous training, strategic academic-industry partnerships, and deliberate youth and gender inclusion policies in the gas space.

“The Petroleum Industry Act (PIA) has provided a solid regulatory and fiscal foundation. We are implementing market-reflective gas pricing frameworks, encouraging deepwater gas development, and enforcing domestic supply obligations to drive investor confidence and sector expansion,” he noted.

 

 

 


Kindly share this post
Continue Reading

News

Experts Caution e-commerce Operators on Eco-friendly Materials

Published

on

Kindly share this post

Experts have urged the Nigerian e-commerce industry to use eco-friendly materials in its packaging and logistics of products to reduce carbon emissions and protect the environment.

The experts made this known at a sensitisation workshop on Greening E-commerce orgainsed by The Sustainable and Inclusive Economic Development for Decent Employment In Nigeria Programme (SEDIN) – an initiative of the German Development Agency (GIZ) in partnership with Nigerian Postal Services (NIPOST).

The experts stressed the importance of e-commerce operators in Nigeria committing to concrete climate actions and sustainable operations.

Nnaemeka Ngwu, director of the public sector initiative and a professor at Lagos Business School, urged e-commerce companies to quickly adopt sustainable green technology to minimize their environmental harm.

“E-commerce is a business enabler and a platform through which many people can get involved in trade and commerce. However, e-commerce also brings lots of issues in sustainability and climate change because of pollution,” he said.

According to him, to improve the sustainability component of e-commerce, the country must promote better packaging and logistics among operators.

“We need to green the e-commerce industry to make it more inclusive and support the climate so that it does not cause risks and issues,” he explained.

He commended the Lagos State government on the ban on single-use plastics, calling for the policy to be complemented with awareness, advocacy, and engagement so that the public understands the reason for the policy.

He noted that such awareness should be done regularly, while urging the Nigerian Postal Service to use its leadership role in the courier industry to engage other courier businesses within the space on the benefits of sustainability and the packaging and logistics issues.

In her opening remarks, Titi Oshodi, special adviser to the Lagos State Governor on Climate Change and Circular Economy, called for awareness on greening across various sectors of governance, communities and the private sector

“This will ensure that people understand the rationale behind the policies on greening and they also understand what the alternatives are,” she noted.

“This is the reason why climate literacy is a front-boner strategy for us in Lagos State,” she added.

She explained that Lagos is a commercial hub that grew its GDP due to the operations of micro, small and medium-size businesses. “We need to have them empowered, more knowledgeable about sustainability practices.”

Tola Odeyemi, postmaster-general, Nigerian Postal Services (NIPOST), said the courier can play a strategic and vital role in greening the ecosystem, noting that it has 1,174 post offices nationwide.

Odeyemi, who was represented by Ernest Mamood, general-manager of EMS Parcel Nigeria, said NIPOST is a regulator in the country’s courier industry and can use its position to sensitize other operators in the industry on the use of eco-friendly materials in packaging and logistics to cut environmental impact.


Kindly share this post
Continue Reading

News

Tech Alliance Aims to Transform Africa’s Mapping System

Published

on

Kindly share this post

Space42, the UAE-based global AI-powered space-tech company, part of technology group G42, this week announced the signing of a memorandum of understanding with Microsoft and Esri to deliver high-resolution, scalable base maps across all 54 African countries, serving over 1.4 billion people.

Known as the “Map Africa Initiative,” the project will create a comprehensive base map of the continent to date, addressing challenges in infrastructure, investment, and institutional gaps, according to Space24.

The company said the updated mapping system will catalyse economic development through increased access to intelligent solutions that support governments, businesses, and communities.

The five-year collaboration aims to strengthen geospatial capabilities across Africa and the UAE, and provide precise and accessible data to national and regional stakeholders.

Space 24 detailed how the initiative will enable economic opportunities and innovation, saying the program is expected to unlock long-term value across multiple industries including: ports and logistics; renewable energy; security and disaster response; smart cities and digital economies.

It added: “Accurate maps are foundational to urban planning, public services, and technology deployment. The data will be licensed to national governments, enabling ownership and long-term updating by National Mapping Agencies. Over time, the initiative will also support a new commercial ecosystem of African startups. The data will eventually be housed in G42 and Microsoft-managed data centers across the continent.”

Hasan Al Hosani, CEO of Smart Solutions at Space42, said: “Partnership is core to the UAE’s DNA, and is central to how Space42 operates. This collaboration with Microsoft and Esri is more than technical; it’s strategic. It advances Space42’s business priorities, strengthens our role as a trusted partner to governments, and delivers meaningful benefits to communities across Africa.

“Accurate, high-quality mapping and the intelligence solutions built on it are essential for growth, resilience, and inclusive innovation. With reliable data, communities and economies prosper.”

While, Jack Dangermond, president of Esri added: “We are proud to support the Map Africa Initiative in partnership with Space42. Transforming satellite imagery into detailed, accurate base maps at continental scale requires advanced geospatial technology and professional production workflows.

“These same capabilities have supported similar national and regional mapping efforts around the world. With Map Africa, we are helping to establish a foundational resource that will drive infrastructure planning, economic growth, and sustainable development across the continent.”


Kindly share this post
Continue Reading

Trending