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Polaris Bank partners Millwater on stable power delivery to industrial clusters
Polaris Bank has expressed its commitment to partner with Millwater with the aim of delivering uninterrupted power supply to industrial clusters in Nigeria.
This objective of the project is to ensure accelerated industrialization drive of the current administration.
While giving the assurance on the sidelines of the recent Agbara Business Roundtable which held in Agbara, Ogun State, Polaris Bank’s Executive Director, Lagos & Corporate Banking, Chinwe Iloghalu who represented the Bank’s Managing Director/CEO, Adekunle Sonola, expressed the lender’s readiness to provide the required funding to Millwater, a Technical Partner of Niger Delta Power Holding Company (NDPHC) to make the Light Up Nigeria project, a reality.
Polaris Bank is the financial partner to Millwater Limited which is serving as a Special Purpose Vehicle (SPV) and partnering with NDPHC to deliver the Light Up Nigeria project of the federal government.
At the event, Vice President, Senator Kashim Shettima, while noting that Nigeria holds tremendous opportunities for not only investors, but also the people, restated Federal Government commitment to investors and industries to deliver adequate power supply across industrial clusters.
Shettima decried situation where industrial clusters like Agbara had to rely on other sources of power supply other than the national grid, and assured that the Federal Government through the Niger Delta Power Holding Company (NDPHC) is committed to ensuring that clusters like Agbara benefit from cheaper means of generating power in their various factories.
The Business Rountable which drew cream of the Nigerian society across different spectrum had the Ogun State Governor, Dapo Abiodun; Lagos Deputy Governor, Obafemi Hamzat; Minister for Power, Adebayo Adelabu and NDPHC CEO, Chiedu Ugbo all lauding the Light Up Initiatives of the present government which they reckon will fastrack Nigeria’s industrialization efforts.
Polaris Bank has been a strong partner in funding Nigeria’s energy players to deliver value to critical stakeholders and this project which is dear to the heart of the current administration, will not be an exception.
Recall Polaris Bank recently funded the delivery of a full cargo with an indigenous firm to the tune of N13bn, thus enabling the transportation of the 20,000 metric tonnes, or 27 million litres of petrol, to the country. The Bank’s support exemplified the pivotal role played by the financial institution to support the growth of the critical energy sector of the economy.
The event was to launch an initiative to ensure dedicated power supply to industrial clusters across the country, starting with Agbara Industrial Estate.
Polaris Bank, adjudged Digital Bank of the Year 2021 and 2022, is a future-determining Bank committed to the delivery of industry-defining products, and services, across all the sectors of the Nigerian economy.
News
Breaking: NHRC, LEDAP begin consultative forum on eliminating harmful traditional, religious practices
By Bonaventure Phillips Melah
A consultative forum to seek ways of eliminating harmful traditional religious practices that impact rights of women and gender equality in Nigeria is set to begin in Abuja.
Organized by the National Human Rights Commission, NHRC, and the Legal Defence and Advocacy Project, LEDAP, the gathering is themed- “Empowering Traditional Rulers in Nigeria to Adopt and Implement Community Guidelines for Gender Equality and Non-Discrimination Against Women.”
Among dignitaries to speak at the event are Dr. Tony Ojukwu, a Senior Advocate of Nigeria (SAN), the Executive Secretary of the National Human Rights Commission, Chino Obiagwu, SAN, National Coordinator, LEDAP and Prof. Joy Ezeilo, SAN, Executive Director, Women Aid Collective.
Details later…..
The Director General of AGRHYMET, Dr. Issoufou Baoua, led a high-level delegation to the Nigerian Meteorological Agency (NiMet) as part of the Joint Mission on the operationalization of the Regional Climate Centre for West Africa and the Sahel (RCC-WAS).
He was accompanied by the WMO Representative for West, Central & North Africa, Dr. Bernard Gomez, and the ECOWAS Representative, Prof. Mansur Matazu.
The mission focused on advancing regional collaboration required to fully operationalize RCC-WAS — a key initiative designed to enhance climate services, strengthen resilience, and support informed decision-making across West Africa and the Sahel.
During the engagement, the AGRHYMET DG outlined the core objectives of the mission, which include strengthening institutional partnerships, aligning regional priorities, identifying capacity-building needs, and setting actionable milestones for the effective take-off of RCC-WAS.
Receiving the delegation, the Director General/CEO of NiMet, Prof. Charles Anosike, reaffirmed NiMet’s commitment to the successful establishment of RCC-WAS. He emphasized that NiMet will provide technical expertise and tools — including MeteoWiz — participate in joint research efforts, and contribute to the development of advanced climate monitoring and forecasting capabilities for the region.
The visit marked a significant step forward in consolidating regional cooperation. Both institutions reaffirmed their shared commitment to strengthening climate services, and the meeting concluded with the signing of a Memorandum of Understanding (MoU) for the operationalization of the Regional Climate Centre for West Africa and the Sahel.
President Bola Tinubu has set up a high level committee to resolve issues on N4 trillion owed to federal contractors in the country.
According to Bayo Onanuga, Special Adviser on Information and Strategy, the President also expressed displeasure over the huge debt.
He made the disclosure while briefing State House correspondents at the end of the Federal Executive Council, FEC, meeting presided over by the President at the Council Chambers, Presidential Villa, Abuja.
He said the President was enraged after learning that about 2,000 contractors are owed.
Onanuga, who stood in for the Minister of Information and National Orientation, Mohammed Idris said: “He made it very, very clear he is not happy and wants a one-stop solution.
“An important highlight in the course of the FEC meeting is that the President expressed very, very grave displeasure about the fact that contractors are being owed money.
“The DG (Director-General) of the Bureau of Public Procurement actually told the President that about 2000 contractors are being owed money and this made the President very, very upset.
“So the ministers are going to look into the problem to really find a solution, to find the money to be used in paying the contractors.”
The presidential aide explained that the committee has as members, the Ministers of Finance (and Coordinating Minister of the Economy), Wale Edun; Budget and Economic Planning, Atiku Bagudu; Works, Dave Umahi; Education, Olatunji Alausa; Housing, Ahmed Dangiwa; and Marine & Blue Economy, Gboyega Oyetola, along with the Director-General of the Budget Office of the Federation, Tanimu Kurfi; and the Chairman of the Federal Inland Revenue Service, Dr Zacch Adedeji.
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