Business

RMAFC Hosts First African Conference On Climate Justice

Published

2 months ago

July 30, 2025

Joel Ajayi

The Revenue Mobilisation, Allocation and Fiscal Commission (RMAFC), in partnership with the Center for African-American Research Studies (CAARS), convened the First African Conference on Climate Justice at the Commission’s headquarters in Abuja on Wednesday, 30th July 2025.

The Conference, themed “Strategic Access, Mobilisation, and Equitable Allocation of Global Climate Funds for Vulnerable Populations,” brought together academicians, policymakers, civil society actors, traditional rulers, and international development experts.

Delivering a goodwill message on behalf of the RMAFC Chairman, Dr. Mohammed Bello Shehu, OFR, the Federal Commissioner representing Kwara State, Hon. Ismail Mohammed Agaka welcomed participants to what he described as a landmark international conference on climate justice. He said, “While RMAFC’s mandate differs from that of CAARS, both energy and climate challenges are common concerns, and our collective efforts towards solving these challenges guarantee timely and better results.”

Dr. Shehu commended CAARS for considering RMAFC a strategic partner in the global discussion around climate finance.

“The relevance of this collaboration will unfold through the thought-provoking presentations and discussions that will follow,” he stated.The Chairman further said that global energy funding for vulnerable African populations is essential to achieving sustainable development.

He emphasized the importance of recent constitutional reforms in Nigeria, which moved electricity from the exclusive list to the concurrent legislative list. The Chairman observed that the reform would enable subnational governments to generate and distribute power and position the nation to better access and deploy global climate funds at all levels.

He expressed confidence that the deliberations and recommendations of the conference would significantly support ongoing efforts to address national and global climate challenges.

In his keynote address, Prof. Nnamdi Nwaodu, Director General of CAARS and Chief Convener of the conference, stressed that Africa must move from the margins to the centre of global climate finance discussions. He urged participants to develop frameworks rooted in fairness, asserting that “climate justice means ensuring that vulnerable communities do not continue to suffer the most while contributing the least to climate change.

In his words, “We are not here to rehearse the known statistics of environmental harm—we are here to act. It’s time to claim our seat at the table and design climate finance frameworks that reflect our continent’s realities.”

The conference featured rich academic and technical discussions, including presentations from renowned experts such as Prof. Ignatius Onimawo, former Vice Chancellor of Ambrose Alli University who presented a paper on addressing climate adaptation, governance, and resilience in Africa;Arc. Steve Nwaiwu, Principal Consultant at Delish Nature & Wellness Africa who spoke on the topic “Nature, wellness, and Green Infrastructure for Urban Africa.”HRH Eze Dr. Okechukwu Izim, a traditional ruler and Head of the Department of Political Science at Alvan Ikoku Federal University of Education presented two separate papers; “Cultural Reflections on Environmental Justice” and, “Climate Policy and African Political Economy.” Dr. Nwarieji Felistas Director Center for Circular Economy Technology Education was also in attendance.

A panel session moderated by civil society leaders and youth climate advocates focused on climate finance, local needs, and community resilience.

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Business

NEXIM Bank Secures Bbb+ Rating from Agusto & Co., Declares ₦30.47 Billion Operating Profit

Published

3 days ago

October 2, 2025

The Gleamer

By Joel Ajayi

The Nigerian Export-Import Bank (NEXIM) has been assigned a Bbb+ rating by leading credit rating agency Agusto & Co. Limited, affirming its satisfactory financial condition and strong capacity to meet obligations relative to other development finance institutions (DFIs) in Nigeria.

For the year ended 2024, NEXIM Bank reported an operating profit of ₦30.47 billion, more than double the ₦13.75 billion recorded in the previous year. This remarkable growth underscores the Bank’s financial resilience and operational efficiency.

Established to promote Nigeria’s non-oil exports and support import-substituting businesses, NEXIM is fully owned by the Federal Government of Nigeria through equal shareholding by the Central Bank of Nigeria (CBN) and the Ministry of Finance Incorporated (MOFI).

The Bank has sustained strong liquidity and capital adequacy ratios, alongside notable growth in its loan book and equity investments. Key sectors supported include manufacturing, agriculture, solid minerals, and services.

According to Managing Director, Mr. Abba Bello, NEXIM has intensified its intervention in the non-oil export sector, disbursing over ₦495 billion and facilitating the creation and sustenance of more than 36,000 direct and indirect jobs.

Among the Bank’s key initiatives are:The Regional Sealink Project: A public-private partnership designed to improve maritime logistics across West and Central Africa. Promotion of Factoring Services: Offering alternative export financing solutions for SMEs. And Joint Project Preparation Fund (JPPF): Implemented in partnership with Afreximbank to enhance the bankability of export projects.

Additionally, NEXIM is developing tailored financing schemes for the mining sector, including Contract Mining, Equipment Leasing, and Buyers’ Credit/ECA Financing, aimed at unlocking export potential and boosting foreign exchange earnings.

With its renewed drive, NEXIM Bank remains committed to building local processing capacity, advancing Nigeria’s competitiveness in global trade, and strengthening non-oil export revenues by moving up the commodity value chain.

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