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Stakeholders Push for Stronger Labor Polices to Protect Jobs in Energy Transition

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…Unveil ‘Workers’ Charter of Demand’


By Joel Ajayi


In a bid to strengthen labour laws and safeguard Nigerian workers from job losses amid the country’s transition to a low-carbon economy, stakeholders have called for equitable policies that protect employment and workers’ rights.

Presenting the Workers’ Charter of Demand, Tunde Selman, Researcher and Team Lead at GGT-Nigeria, outlined key labour concerns in Nigeria’s evolving energy landscape.


The call was made at the public presentation of the Workers’ Charter of Demand and Stakeholders’ Engagement held on Thursday in Abuja. 


The event, organized by the Institute for Peace and Conflict Resolution (IPCR) in collaboration with Friedrich-Ebert-Stiftung (FES) Nigeria, also marked the launch of the Justice Department Transition Project, aimed at ensuring a just and sustainable shift to renewable energy.

In his remarks, Lennart Oestergaard, Resident Representative of Friedrich-Ebert-Stiftung FES Nigeria, emphasized the need for stronger collaboration between trade unions, the private sector, and the government to develop policies that protect jobs and equip workers for employment in the renewable energy sector.


“As Nigeria moves towards cleaner energy sources, we must ensure that workers are not displaced or exploited,” he stated. “A just transition means that no one is left behind. This requires deliberate policies that promote job security, social dialogue, and economic fairness.”


Presenting the Workers’ Charter of Demand, Tunde Selman, Researcher and Team Lead at GGT-Nigeria, outlined key labour concerns in Nigeria’s evolving energy landscape.


“The charter is a call to action, advocating for fair labour practices and worker protections,” Selman said.


Some of the key demands highlighted in the charter include: Job Security: Preventing mass redundancies in the energy sector.


Social Protection Measures to Ensuring access to pension schemes and health insurance for workers transitioning from fossil fuel jobs; Fair Wages and Improved Working Conditions to Address labour rights in both traditional and renewable energy sector.


Also, Equipping workers with skills in clean energy technologies, Stronger Labor Union Involvement: Ensuring labor unions play a role in policymaking related to energy transition amongst other.


In her goodwill message,  Executive Secretary of the Renewable Energy Association of Nigeria (REAN), Dr. Tosin Akande, thumbed FES and its partners for their advocacy efforts in protecting labor rights during the energy transition.

However, She stressed the need for stronger policies to prevent unemployment and low wages. “Without strong policies, many workers could face job losses or poor working conditions,” Dr. Akande warned.


Meanwhile, the event also featured a panel discussion on “Just and Clean Transition for Trade Unions in Nigeria,” where experts examined challenges and opportunities in the energy transition.

Discussions focused on: Expanding the renewable energy sector while protecting workers’ rights; The role of government and private sector investment in job creation and Vocational training for green economy jobs.

Stakeholders therefore reaffirmed their commitment to advocating for policies that ensure a fair transition for Nigerian workers, ensuring that no one is left behind as the country moves toward a greener future.

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

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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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