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UNGA: Oyedele calls for affordable capital to finance Africa’s infrastructure

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By Sam Otuonye 

The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has called on the international community to scale up the availability of affordable capital to finance infrastructure and development across Africa.

Oyedele made the call while addressing the United Nations Dialogue on Solutions to Climate Finance on the margins of the 81st Session of the United Nations General Assembly (UNGA) in New York.

He said Africa’s development ambitions, particularly its energy needs, continue to be constrained by high financing costs, currency risks and limited access to affordable long-term capital.

The Minister explained that despite Africa’s relatively low contribution to global carbon emissions, the continent continues to face what he described as a “prejudice premium” and “narrative cost” in its efforts to mobilise financing for critical infrastructure.

He also identified currency risk and what he termed “stereotype tax” as additional burdens confronting African countries as they seek to raise capital for critical energy and other development assets.

Oyedele therefore called for a strategic shift in the approach to climate finance, with simpler access to affordable capital for developing countries and financing arrangements that better reflect their development realities.

He also urged the international community to scale up investment in gas and other transition energy sources, particularly in Africa, to expand access to reliable and affordable energy and help address global energy poverty.

According to him, greater investment in Africa’s energy sector would also help diversify global energy supply and reduce concentration risks, particularly amid disruptions affecting the Gulf region.

The Minister stressed that Africa’s energy transition must take account of the continent’s significant energy-access deficit, noting the need for greater investment to enable countries to meet their development needs while pursuing a practical transition to cleaner energy sources.

For Nigeria, Oyedele said the immediate priority was to structure and implement policies and programmes that would reduce poverty, expand economic opportunities and accelerate the distribution of shared prosperity.

He said achieving these objectives would require stronger international cooperation and a financing framework that enables developing countries to mobilise the capital required to invest in infrastructure and improve the lives of their people.

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Nigeria must avoid oil economy mistakes with data – Oyedele 

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By Sam Otuonye 

Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has cautioned that Nigeria risks repeating the costly mistakes of its oil economy if it continues to rely heavily on foreign infrastructure for storing and processing its data instead of harnessing the economic value of its expanding digital sector.

Oyedele gave this charge on Wednesday in Uyo, Akwa Ibom State, while delivering the convocation lecture titled *“Digital Sovereignty and Ethics: Guarding the Economy for the Next Generation”* at the University of Uyo.

He recalled that exporting crude oil and importing refined petroleum products deprived Nigeria of substantial domestic value, expertise and employment opportunities, stressing that the country must not allow a similar pattern to emerge in the digital economy.

Oyedele maintained that the scale of the opportunity was already evident, citing Nigerian Communications Commission (NCC) figures showing that Nigeria had more than 157 million active internet subscriptions as at May 2026. However, he highlighted an estimate by the Nigeria Data Protection Commission that over 90 per cent of the country’s data is hosted abroad.

He observed that such dependence comes at a considerable economic cost, including foreign exchange outflows for offshore data hosting and processing, lost opportunities for local businesses and professionals, and exposure of Nigerian data to foreign laws and jurisdictions.

The Minister explained that digital sovereignty entails a country’s ability to determine, under its own laws, how its data is collected, stored, accessed and utilised. He clarified that this does not mean shutting Nigeria out of the global digital economy, but ensuring that its participation advances national interests.

To reverse the trend, he called for deliberate investment in domestic digital infrastructure, stronger regulatory institutions and the development of local expertise and businesses capable of converting data into valuable products and services within Nigeria.

Speaking on artificial intelligence, Oyedele highlighted its growing capacity to reshape employment and the skills required in the emerging economy. He charged graduates to embrace AI and other emerging technologies while retaining their independent judgement, critical thinking, creativity, empathy and integrity.

He also enjoined young Nigerians to be deliberate about their conduct in the digital space, noting that their online footprints increasingly influence their personal and professional identities. Their posts, comments and reactions, he said, could shape how employers, institutions and society perceive them.

The Minister counselled graduates to disagree respectfully, challenge ideas rather than attack individuals, and understand that online attention does not necessarily translate into respect, popularity into credibility or virality into value creation. He equally drew attention to the capacity of artificial intelligence to amplify misinformation, impersonation and dishonesty, making ethical conduct and public trust increasingly important.

Turning to the role of universities, Oyedele charged higher institutions to move beyond the traditional award of certificates and position themselves as centres of innovation, entrepreneurship, ethical leadership and practical problem-solving.

He argued that their relevance should also be measured by the problems their graduates solve, the businesses they establish and the contributions they make to their communities.

The Minister identified agriculture, energy, healthcare, marine resources, environmental management and digital services as sectors offering significant opportunities for innovation and enterprise, calling on universities to equip students with the practical knowledge and skills to develop solutions in these areas.

He outlined five responsibilities for the graduating students: lifelong learning, value creation, integrity, responsible digital citizenship and active participation in nation-building.

Oyedele stressed that Nigeria’s digital future would depend not only on technology and infrastructure, but also on the values, choices and capabilities of the people shaping its development.

He challenged the graduates to see themselves as active contributors to that future, drawing on the words of management thinker, Peter Drucker: “The best way to predict the future is to create it.”

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TCN seeks Bauchi govt’s partnership for new substations in Alkaleri, Toro

By Sam Otuonye 

The Transmission Company of Nigeria (TCN), Bauchi Region, has appealed to the Bauchi State Government to expedite land allocation for two proposed transmission substations in Alkaleri and Toro Local Government Areas (LGAs) of the state which are expected to expand transmission capacity and improve bulk power supply across the state.

The Ag. General Manager (Transmission), Bauchi Region, Engr. Muhammed Bello Ahmed, made the appeal during a courtesy visit to the State Ministry of Land and Survey on Monday, November 2, 2026, emphasising the need for timely land allocation to facilitate project implementation.

He commended the state government for engaging host communities on the proposed projects and protecting critical transmission infrastructure through the enforcement of Right-of-Way (RoW) regulations, particularly the removal of illegal structures beneath high-voltage transmission lines.

In his response, the Permanent Secretary of the Ministry, Shuaibu Alhaji Mohammed, assured TCN of the state government’s support for the substation projects. He reaffirmed the Ministry’s commitment to facilitating the land allocation process and pledged to strengthen security around critical transmission facilities.

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CITAD challenges big tech dominance, advocates digital sovereignty 

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Abdul Haruna

The Centre for Information Technology and Development (CITAD) has argued that Nigerians should not have to surrender control over personal information to access digital communication.

The Centre stated this on Thursday while unveiling DANCIT, a homegrown messaging application designed as an alternative to mainstream platforms.

Buhari Abba, who addressed a press conference in Bauchi on behalf of the Executive Director of CITAD, said DANCIT is hosted on CITAD’s own digital infrastructure and is designed to limit unnecessary tracking, profiling and commercial exploitation of personal data.

He explained that the name DANCIT draws inspiration from the traditional Hausa concept of ‘dandali’ — a communal gathering place where people meet, exchange ideas and discuss matters affecting their lives.

“DANCIT is designed to offer an alternative by placing community needs, privacy and digital independence at the centre. Its purpose goes beyond exchanging messages; it is intended to support civic engagement, grassroots organising and digital rights discussions,” Abba said.

He said the platform represents a statement against continued monopolisation of digital innovation, noting that a healthy digital ecosystem requires space for competition, creativity and locally developed solutions.

CITAD also called on the Federal Government, civil society and educational institutions to support decentralised and locally-owned digital platforms to strengthen Nigeria’s digital sovereignty.

According to the Centre, digital sovereignty involves having the capacity to make informed decisions about digital infrastructure, data governance and technological development in ways that reflect national and community interests.

“Encouraging Nigerian institutions and communities to develop, host and manage digital services can contribute to building local capacity and reducing dependence on external providers. It does not mean isolating Nigeria from the global internet,” the statement said.

The organisation lamented that journalists, civil society organisations, young people and ordinary citizens increasingly depend on platforms that exploit data, amplify misinformation and impose arbitrary content restrictions.

It therefore urged policymakers, technology developers and the media to prioritise privacy, transparency, accountability and user control in discussions about Nigeria’s digital future.

CITAD also called on Nigerians to look beyond the popularity of mainstream platforms and consider how responsibly they handle information and respect users’ rights, adding that “our conversations matter, our data deserves protection, and our communities deserve digital spaces they can trust.”

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