Unity Bank Plc has disbursed over N270 million in grants to young Nigerian entrepreneurs under its Youth Entrepreneurship Development Initiative: Corpreneurship Challenge, bringing the total number of beneficiaries since inception in 2019 to 608 corps members nationwide.

The initiative, implemented in partnership with the National Youth Service Corps (NYSC) through its Skill Acquisition and Entrepreneurship Development (SAED) programme, continues to equip fresh graduates with the funding, confidence, and support required to launch and scale viable businesses.

In the most recent edition of the Corpreneurship Challenge, held between November 18 and December 9, 2025, across 10 NYSC orientation camps nationwide, 30 youth corps members emerged as winners during the Batch C, Stream I, 2025 exercise of the programme.

The latest beneficiaries were selected from orientation camps in Lagos, Delta, Kaduna, Jigawa, Kwara, Enugu, Abia, the Federal Capital Territory (FCT), Akwa Ibom, and Plateau (Jos), after pitching innovative business ideas across diverse sectors of the economy.

Unity Bank’s cumulative investment in the Corpreneurship Challenge underscores the Bank’s long-standing commitment to youth empowerment, MSME development, and job creation in Nigeria.

Speaking on the continued impact of the initiative, Unity Bank’s Divisional Head, Retail & SME, Mrs. Adenike Abimbola, reaffirmed the Bank’s belief in entrepreneurship as a catalyst for economic transformation.

“At Unity Bank, we recognise that entrepreneurship remains one of the most effective tools for tackling youth unemployment and driving inclusive economic growth. Through the Corpreneurship Challenge, we are not only providing financial support, but also instilling confidence in young graduates to transform viable ideas into sustainable businesses. Reaching over 600 beneficiaries since inception reinforces our belief in the immense potential of Nigeria’s youth,” she said.

Mrs. Abimbola further emphasised the programme’s role in strengthening Nigeria’s MSME ecosystem and creating long-term economic value.

“Small and medium-scale enterprises are the backbone of any resilient economy. By supporting corps members at the earliest stage of their entrepreneurial journey, we are helping to build businesses that can create jobs, stimulate local economies, and contribute meaningfully to national development. Our focus is on impact that goes beyond grants, impact that translates into lasting livelihoods,” she added.

The Corpreneurship Challenge provides a competitive platform where corps members pitch business ideas, assessed on originality, feasibility, market demand, scalability, and job-creation potential. Successful participants receive financial grants to kick-start or expand their ventures, alongside exposure to business guidance and mentorship.

Since its launch, the initiative has supported youth-led businesses across value chains, including fashion, agribusiness, food processing, creative services, manufacturing, and retail. Over the years, it has become an integral part of the NYSC experience, attracting thousands of applications annually and earning national recognition for its contribution to youth empowerment.

By sustaining and expanding the Corpreneurship Challenge, Unity Bank continues to reinforce its role as a strategic partner in Nigeria’s entrepreneurial and MSME development landscape.

In line with the Central Bank of Nigeria’s Banking Sector Recapitalisation Programme, Rand Merchant Bank Nigeria Limited (RMBN) is pleased to announce that it has successfully met the capitalisation requirement for merchant banks operating in Nigeria as of December 30, 2025.

This milestone underscores RMBN’s financial strength, resilience, and unwavering commitment to regulatory compliance, while reflecting shareholders’ confidence in the Nigerian economy and the Bank’s role in shaping the country’s evolving financial landscape.

Meeting the CBN capitalisation threshold positions RMBN to:

• Deliver innovative financial solutions to clients,
• Enhance customer confidence, and
• Contribute to the stability and growth of Nigeria’s banking sector.

Commenting on the achievement, Mr. Bayo Ajayi, Chief Executive Officer of RMBN, said:

“We are proud to have met the CBN’s capitalization requirement. This achievement reflects our shareholders’ confidence in the Nigerian economy and our dedication to delivering best-in-class corporate and investment banking services across Nigeria and Africa. Our focus remains on building a stronger, more resilient institution that can thrive in Nigeria’s dynamic financial environment.”

The Nigerian private sector remained in growth territory at the end of 2025 as improvements in customer demand fed through to higher new orders, output and purchasing activity.

Employment also increased, but the rate of job creation remained marginal. Inflationary pressures picked up modestly in December but remained generally close to recent lows.

Meanwhile, business confidence improved sharply. The headline figure derived from the survey is the Stanbic IBTC Purchasing Managers’ Index (PMI). Readings above 50.0 signal an improvement in business conditions on the previous month, while readings below 50.0 show a deterioration.

Muyiwa Oni, Head of Equity Research West Africa at Stanbic IBTC Bank commented: “Headline PMI (53.5 vs November: 53.6) moderated for the second consecutive month in December, although still in the growth territory and the latest reading is broadly in line with the average for 2025 as a whole. The continued expansion in business activity in December, albeit slightly softer than November, reflects higher customer demand, which supported a marked monthly increase in new orders. This in turn encouraged companies to expand their purchasing activity and inventory holdings. Meanwhile, there was a marked improvement in business confidence among the companies as sentiment hit a six-month high, linked to planned investments in business expansions, including opening of new branches and plans to boost products exports. While overall input prices (64.4 vs November: 61.9) increased sharply in December from the near five-year low posted in November, the rate of inflation was weaker than the 2025 average. Because of this high input cost, selling prices also increased in December with the most significant price increase seen. in the Manufacturing sector. The pickup in inflationary pressures in December may be connected to the higher spending patterns associated with the December festive period. And so, inflation should increase m/m and y/y in December, although the y/y increase is likely to be significant on account of a low-base effect from the corresponding period of the prior year – an outcome of the country’s rebased CPI. Therefore, we estimate inflation at 1.44% m/m which implies a CPI of 132.34, and y/y headline inflation of 32.34% in December.

We now see the Nigerian economy growing by 3.8% y/y in 2025 and 4.1% y/y in 2026. Both Manufacturing and Services are likely to see higher growth in 2025 compared to 2024 levels, based on the results from the PMI surveys so far this year. Elsewhere, the government has been visible in infrastructure, livestock development, easing trade constraints, and attracting investments in oil & gas and manufacturing. Aside from that, the Dangote refinery is expected to continue to have forward-linkage impact on other sectors of the economy.

Additionally, likely lower interest rates in line with lower inflation and exchange rate stabilization should support private consumption and business investments in 2026. Because of these factors, we see more sectors contributing to real GDP growth rate in 2026 compared to 2025, likely translating to an improvement in the quality of lives of the citizens compared to 2025.”

The headline PMI posted 53.5 in December, little-changed from 53.6 in November and signalling a solid monthly improvement in business conditions as 2025 drew to a close. The latest strengthening in operating conditions was the thirteenth in as many months, and broadly in line with the average for 2025 as a whole. Growth in December emanated from an improvement in customer demand which supported a marked monthly increase in new orders. The rise in sales was the fourteenth in as many months and only slightly weaker than in November.

In turn, companies expanded output sharply, with the pace of growth broadly in line with that seen in November. All four broad categories saw output rise, led by agriculture. Stronger customer demand also encouraged firms to expand their purchasing activity and inventory holdings. Employment was also up, but only marginally and at the slowest pace since June 2025.

For the second month running, companies noted a slight rise in backlogs of work. Delays completing projects were reportedly caused by material shortages and power supply issues. Meanwhile, suppliers’ delivery times shortened but to the least extent in six months amid reports of poor road conditions. Those firms that registered shorter lead times linked this to prompt payments and a lack of traffic. Higher raw material prices led to a marked rise in purchase costs. The pace of inflation quickened but remained among the weakest in the past six years. Staff costs also increased at a faster pace as firms paid employees for additional work.

Companies responded to higher input costs by raising their own selling prices in December. Here too the pace of inflation quickened, but was only slightly stronger than the recent low posted in November. Manufacturing registered the sharpest rise in charges of the four monitored categories.

Nigerian private-sector firms were much more confident in the outlook for business activity at the end of 2025. Sentiment jumped to a six-month high as close to 59% of respondents predicted growth. Planned investment in the expansion of operations and opening of new branches was central to confidence.

The Central Bank of Nigeria (CBN) has reported a further strengthening of domestic economic activity in December 2025, as the Composite Purchasing Managers’ Index (PMI) maintained its position above the 50-point expansion threshold.

The December 2025 PMI Survey, released by the Bank, puts the Composite Index at 57.6 index points, representing the strongest activity momentum recorded in about five years.

According to the report, the sustained improvement reflects continued expansion across major employment-generating sectors. Sectoral PMI readings showed that agriculture remained robust at 58.5 points, industry recorded 57.0 points, while the services sector remained in positive territory with 51.9 points, indicating broad-based growth in output and business activities during the month.

The Survey further indicated that 32 of the 36 subsectors monitored posted expansions in key indicators such as production levels, new business orders, and employment. The CBN notes that this outcome highlights a steady rebound in domestic demand and strengthening productive activities, particularly within the non-oil economy.

The Bank attributed the improved PMI performance to the positive effects of ongoing macroeconomic stabilisation measures, including efforts to enhance the operating environment and support business confidence.

These reforms, it added, continued to bolster job creation, production efficiency, and overall optimism about economic prospects in the fourth quarter of 2025.

The December PMI reading reinforces expectations of a stable growth outlook as Nigeria transitions into the new year.

Nigeria Records Overall Balance of Payments Surplus in Q3 2025 Nigeria recorded an overall Balance of Payments (BOP) surplus of $4.60 billion in the third quarter of 2025, marking a turnaround from the deficit position in the preceding quarter, according to data released by the Central Bank of Nigeria (CBN). The improvement was supported by a sustained current account surplus of $3.42 billion, supported by stronger trade performance, resilient remittance inflows, increased financial flows, and continued accretion to external reserves.

The CBN reported that the goods account remained in surplus at $4.94 billion, reflecting higher export earnings during the period. Crude oil exports rose to $8.45 billion, while exports of refined petroleum products increased by 44 per cent to $2.29 billion, indicating further progress in domestic refining capacity and Nigeria’s gradual transition from a net importer to a net exporter of refined petroleum products.

Total goods exports stood at $15.24 billion, while imports of refined petroleum products declined by 12.7 per cent, resulting in an improved trade balance. Workers’ remittances also remained strong, with the secondary income account recording a surplus of $5.50 billion, including $5.24 billion in remittance inflows from Nigerians in the diaspora.

Developments in the financial account further supported the overall BOP outcome, with Nigeria posting a net lending position of $0.32 billion. Foreign direct investment inflows rose to $0.72 billion, while portfolio investment inflows remained robust at $2.51 billion, reflecting improved investor sentiment and continued non-resident participation in domestic financial instruments.

The country’s external reserves increased to $42.77 billion at end-September 2025, up from $37.81 billion at end-June, thereby strengthening Nigeria’s external buffers.

According to the CBN, the Q3 2025 BOP outcome underscores strengthening external sector fundamentals, firmer investor confidence, and the continued impact of reforms in the foreign exchange market, monetary policy implementation, and the domestic energy sector.

L-R: MD/CE, Ministry of Finance Incorporated (MOFI), Dr. Armstrong Takang, receives NDIC publications as a gesture of goodwill and collaboration between the two organisations. The publications were presented by the MD/CE NDIC, Mr. Thompson Oludare Sunday, during NDIC’s courtesy visit to MOFI in Abuja.

The Managing Director/Chief Executive of the Nigeria Deposit Insurance Corporation (NDIC), Mr. Thompson Oludare Sunday, has reaffirmed the Corporation’s strict compliance with fiscal and financial regulations, including the provisions of the Fiscal Responsibility Act (FRA) 2007, noting that the NDIC has consistently remitted the required percentage of its earnings to the Federal Government.

Mr. Sunday made this known during a courtesy visit to the Managing Director/Chief Executive of the Ministry of Finance Incorporated (MOFI), Dr. Armstrong Takang, as part of NDIC’s ongoing engagement with key stakeholders following his formal assumption of office in July 2025.

According to him, NDIC takes financial accountability and transparency seriously, stressing that the Corporation complies fully with statutory remittance obligations, including the payment of 20 per cent of gross earnings or 80 per cent of net surplus to the Federal Government, as applicable. He added that NDIC also submits its financial statements ahead of statutory deadlines.

The NDIC MD/CE explained that this culture of compliance aligns with the Corporation’s role as a key institution within Nigeria’s financial safety-net, charged with protecting depositors and promoting confidence in the banking system.

He emphasised that adherence to fiscal discipline remains central to NDIC’s credibility and effectiveness. Mr. Sunday further disclosed that NDIC also complies with the Federal Government’s 50 per cent cost-to-income ratio policy, although he noted that the policy poses operational constraints. He explained that the deductions affect NDIC’s ability to build a strong Deposit Insurance Fund, which is needed to respond effectively to bank failures.

He stressed that international best practices under the Core Principles for Effective Deposit Insurance issued by the International Association of Deposit Insurers (IADI) require deposit insurers to maintain adequate funds to reimburse depositors when banks fail without recourse to government, adding that the NDIC is seeking an exemption to strengthen its capacity in this regard.

Mr. Sunday described MOFI as a critical stakeholder, noting that the Federal Government, through MOFI, holds a 40 per cent equity stake in NDIC. He said sustained collaboration with MOFI is essential to ensuring that NDIC continues to meet its obligations to government while effectively safeguarding depositors’ funds.

In his remarks, Dr. Takang commended the NDIC for its exemplary collaborative spirit and acknowledged the Corporation’s compliance with fiscal regulations. He assured that MOFI would continue to engage the Federal Ministry of Finance on NDIC’s behalf, noting that a strong NDIC is vital to sustaining confidence in Nigeria’s financial system.

Both institutions reaffirmed their commitment to continued cooperation, transparency and accountability, with Mr. Sunday reiterating that NDIC remains focused on balancing regulatory compliance with its overriding mandate of depositor protection and financial system stability.

L-R: Head, Debt Capital Markets, Nigeria (Rand Merchant Bank Nigeria Limited, Laju Atake; Transactor, Debt Capital Markets (Rand Merchant Bank Nigeria Limited), David Ishola; Executive Director, Head, Investment Banking (Rand Merchant Bank Nigeria Limited), Chidi Iwuchukwu;  Managing Director/CEO (Champion Breweries Plc), Dr. Adoga Inalegwu;  Executive Director, (Rand Merchant Bank Nigeria Limited), Taiwo Gabriel; Transactor, Debt Financing Solutions (Rand Merchant Bank Nigeria Limited), Ms. Itunu Olaomo; Chief Financial Officer (Champion Breweries Plc), Mr Rasheed Adebiyi at the Champion Breweries Plc ‘s 5 years Series 1 Bond Issuance signing ceremony held recently in Lagos.

Champion Breweries Plc is pleased to announce the successful issuance of its maiden ₦30.00 billion 5-year Fixed Rate Senior Unsecured Bond at a coupon of 19.50%, under its ₦45 billion Bond Issuance Programme.

This landmark transaction marks a significant milestone as Champion Breweries continues to expand its footprint and strengthen its position in Nigeria’s beverage industry.

The Bond Issuance is the first bond to be issued by a player in the breweries sub-sector in Nigeria signalling the Company’s ambition to diversify its funding sources, strengthen its capital structure, and position Champion Breweries for sustainable growth in a competitive market.

Despite launching the Bond Issuance amidst volatile interest rate environment, the Bond Issuance attracted robust demand from diverse set of institutional investors which included Pension Fund Administrators, Asset Managers, Trustees, a Bank, a Registrar and High Net-Worth Individuals underscoring strong confidence in Champion Breweries’ credit quality and long-term growth strategy under its management team and board of directors.

The bond proceeds will be strategically allocated to enhance operational efficiency, enabling Champion Breweries sustain growth and deliver long-term value to stakeholders.

Commenting on the Bond Issuance, Mr Imo-Abasi Jacob, Chairman of Champion Breweries Plc, said, “The successful Bond Issuance is more than a financing milestone, it is a statement of intent. By accessing the debt capital markets, we have demonstrated the strength of our governance, the resilience of our business model, and the confidence investors place in our long‑term vision”.

This Bond Issuance is a catalyst for transformation: enabling Champion Breweries modernize its production infrastructure, strengthen its capital base, and position Champion Breweries to compete at scale. We are proud to set a precedent in the breweries sub‑sector, and we remain committed to leveraging this momentum to drive innovation, efficiency, and stakeholder prosperity.

Dr. Inalegwu Adoga, Managing Director/CEO of Champion Breweries Plc, commented: “This successful Bond Issuance reflects investor confidence in Champion Breweries and our strategic direction under EnjoyCorp. With this capital, we are focused on driving operational efficiency and unlocking opportunities that will sustain growth and reinforce our leadership in Nigeria’s beverage market.”

Bayo Ajayi, Chief Executive Officer of RMB Nigeria, added:
“We are proud to have led and advised Champion Breweries through the process of accessing long-term funding from the debt capital markets. This transaction demonstrates the depth and sophistication of Nigeria’s debt capital markets. At RMB Nigeria, we remain committed to structuring solutions that meet our clients’ funding needs while contributing to the development of Nigeria’s capital markets. Champion Breweries’ successful issuance sets a strong precedent for future bond issuances from players in the breweries sub-sector.”

Chidi Iwuchukwu, Executive Director, Rand Merchant Bank Nigeria Limited (RMB Nigeria), Head of Investment Banking Broader Africa, highlighted:
“Champion Breweries Plc’s maiden Bond Issuance is a significant milestone for the breweries sub-sector and reflects the increasing depth of Nigeria’s debt capital markets. Rand Merchant Bank is proud to have partnered with Champion Breweries Plc as Lead Issuing House and Bookrunner, leveraging our expertise in credit ratings advisory, transaction structuring, debt advisory, as well as investor and regulatory engagements to deliver seamless execution. This success reinforces our commitment to delivering holistic solutions that help clients achieve strategic objectives and set new benchmarks. We appreciate Champion Breweries Plc’s confidence in RMB Nigeria throughout this journey.”

 About RMB Nigeria Limited:

RMB Nigeria Limited, a member of the FirstRand Group, is a leading African Corporate and Investment Bank. RMB Nigeria provides clients with innovative, value‑added solutions across advisory, funding, trading, corporate banking, and principal investing.

L-R: Public Relations Officer, Enugu State University Teaching Hospital (ESUTH), Amarachi Amusi; Team Member, Optimizers Inductees Class of 2025, Precious Uchechi-Uneke; Class Governor, Optimizers Inductees Class of 2025, Chinedu Hilary-Elijah (both of Fidelity Bank Plc); Matron, Children’s Ward ESUTH, Esther Nnaji; and Team Lead, Corporate Social Responsibility (CSR), Fidelity Bank Plc, Victoria Abuka; during the Fidelity Helping Hands Program (FHHP) outreach to ESUTH recently.

Fidelity Bank Plc has brought relief to indigent patients at the Enugu State University Teaching Hospital (ESUTH) Parklane, by offsetting medical bills and providing financial support to children battling chronic health conditions alongside donations of ante-natal kits to pregnant women.

The intervention, which was carried out under the bank’s Corporate Social Responsibility (CSR) initiative known as Fidelity Helping Hands Programme (FHHP), was funded and executed by newly inducted employees of the bank, the Optimisers Inductees Class, as their community impact project, with matching financial support from the bank.

Commenting on the outreach, Divisional Head, Brand and Communications Division, Fidelity Bank Plc, Dr. Meksley Nwagboh, highlighted that the initiative underscores the bank’s commitment to improving lives through targeted social interventions across its four CSR pillars.

“This project reflects the spirit of who we are as a bank. Beyond providing financial services, we are committed to touching lives within the communities where we operate. Today, we are donating ante-natal kits to pregnant women and also supporting indigent patients who have remained in the hospital due to unpaid bills. Some of the children also require long-term medical care, so we have given additional financial support to aid their continued treatment,” Dr. Nwagboh said.

Whilst wishing the beneficiaries quick recovery and good health, Nwagboh described the intervention as both significant and timely, enabling many families to reunite and celebrate the festive season without the burden of outstanding hospital debts.

Receiving the donation, the Chief Matron of the Children’s Ward, Esther Nnaji, commended Fidelity Bank for the timely intervention, describing it as a lifeline for families grappling with rising healthcare costs.

“There are so many families here in desperate need. Some of the children are battling cancer, sickle cell disease and other chronic conditions. Fidelity Bank’s support will go a long way in relieving their pain. Because of what you have done, some of these children will now be able to see their siblings again,” she said.

Several beneficiaries expressed deep gratitude to Fidelity Bank for easing their financial burdens. Mrs. Adaeze Ilo, whose baby’s bill was cleared, said the support came at a moment of despair.

“After spending months in the hospital, we had no idea how to raise the money,” she said. “Fidelity Bank came through for us when we needed it the most. We are deeply grateful.”

Another relieved parent, Jane Anthony, whose son’s bill was cleared, said her family had already accepted that they would spend Christmas in the hospital.

“God used Fidelity Bank to send us home to enjoy Christmas. My heart is full.” she said.

The recent outreach to Enugu State University Teaching Hospital further highlights Fidelity Bank’s continued commitment to supporting vulnerable groups and strengthening community well-being across Nigeria through community-driven CSR efforts.

Abot Fidelity Bank Plc

Ranked among the best banks in Nigeria, Fidelity Bank Plc is a full-fledged Commercial Deposit Money Bank serving over 9.1 million customers through digital banking channels, its 255 business offices in Nigeria and United Kingdom subsidiary, FidBank UK Limited.

The Bank is a recipient of multiple local and international Awards, including the 2024 Excellence in Digital Transformation & MSME Banking Award by BusinessDay Banks and Financial Institutions (BAFI) Awards; the 2024 Most Innovative Mobile Banking Application award for its Fidelity Mobile App by Global Business Outlook, and the 2024 Most Innovative Investment Banking Service Provider award by Global Brands Magazine.

Additionally, the Bank was recognized as the Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence and as the Export Financing Bank of the Year by the BusinessDay Banks and Financial Institutions (BAFI) Awards.

Polaris Bank has continued its commitment to empowering the Nigerian girl-child through health education and essential support, with the successful distribution of female hygiene essentials to female students of Kuramo and Victoria Island Junior and Senior Secondary Schools, Lagos.

This initiative stems from Polaris Bank’s 2025 International Women’s Day celebration and forms part of our ongoing Adolescent Health and Hygiene Support Programme.

Through the Bank’s Girl-Child Support and Hygiene Education Initiative, the outreach aims to improve menstrual hygiene education, build confidence and dignity among young girls, and reduce school absenteeism resulting from lack of access to sanitary products.

Speaking at the event, Group Head, Customer Experience & Value Management, Polaris Bank, Mrs. Bukola Oluyadi, delivered a practical health talk to the girls, emphasizing the importance of maintaining proper hygiene during their menstrual cycle and in their daily lives.

She advised the students on essential personal care practices including the appropriate use of sanitary pads, the importance of daily use of clean underwear, and maintaining good body hygiene with deodorants and regular washing, especially during puberty when their bodies are developing.

“Your body is precious, and how you take care of it determines your confidence and wellbeing,” Mrs. Oluyadi told the students. “Good hygiene is not just about looking clean; it is about staying healthy, feeling comfortable, and showing up confidently in school and everywhere you go.”

She also encouraged the girls to cultivate life-long healthy habits, be informed about their bodies, and speak confidently about their health needs.

Also present at the distribution was the Non-Executive Director of Polaris Bank, Mrs. Subulade Giwa-Amu, who delivered a powerful motivational session on self-care, confidence, and self-presentation.

In her address, she reminded the girls that taking care of their appearance and hygiene contributes significantly to building a successful future.

“A clean girl equals a successful woman,” Mrs. Giwa-Amu affirmed. “Success is not only about your academic performance; it is also about how you present yourself. People see you before they know you, and first impressions always last. Loving yourself and caring for yourself should be a daily habit.”

She further encouraged the students to build confidence from within, stay self-assured, and always be conscious of their personal hygiene as young girls stepping into womanhood.

“Confidence starts with knowing who you are and being proud of yourself,” she added.

“When you take care of your body, you build respect for yourself, and others see that confidence reflected in how you speak, walk, and show up in the world.”

Polaris Bank’s support for the girl-child aligns with the Bank’s broader Sustainability and CSR strategy, which includes empowering young girls through education, access to essential learning materials, and social support systems that improve their health and academic performance.

The Bank believes that sustained investment in girls’ wellbeing ensures equal opportunity, reduces school dropout rates, and helps drive long-term social and economic development.

The female hygiene essentials distribution initiative directly addresses barriers that affect school attendance among adolescent girls, especially those who lack access to basic hygiene products.

By equipping students with knowledge and materials, Polaris Bank is helping to normalize conversations around menstruation, reduce stigma, and support healthier outcomes for young girls.

L-R: Mr. Ayo Ademilua, President, Renewable Energy Association of Nigeria; Dr. Jekwu Ozoemene, Group Executive, The Alternative Bank; Mr. Biodun Ogunleye, The Honourable Commissioner, Lagos State Ministry of Energy and Mineral Resources; Mr. Dele Faseemo, Group Executive, Corporate and Investment Banking, Sterling Bank; Engr. Bem Samuel Anyangeuor, Representative, Honorable Minister of Power and Mr. Oluwaseyi Okunnuga, Group Head, Renewable Energy & Sustainability Finance, Sterling Bank at the just concluded Renewable Energy Colloquium held in Lagos recently.

Sterling Bank Limited has brought together stakeholders in the renewable energy industry to explore ways to accelerate action in the sector.

The premier colloquium, held in Lagos on Monday, aimed to identify priority areas for action to increase energy access and drive economic growth in the quest to attain a one trillion-dollar economy.

Managing Director and CEO of Sterling Bank Limited, Mr. Abubakar Suleiman, gave the charge in his address at the colloquium organised with the theme: Beyond The Grid; Unlocking New Frontiers in Renewable Energy.

The   CEO, who   was   represented   by   Dele   Faseemo, Group   Executive, Corporate & Investment Banking, explained that Sterling Bank will be paying closer attention to policy actions in two or three key priority areas, especially regulation and financing.

He noted that by focusing on these areas, the Bank can do more to drive progress and expand access to energy, which he described   as   essential   for   supporting   economic   growth   and   overall development.

In a keynote address titled Scaling Electrification in Nigeria, The REA Impact, Managing Director and CEO of The Rural Electrification Agency (REA), Dr. Abba Aliyu, spoke on the vision, mission and mandate of the agency.

He noted that Nigeria requires about $26 billion to address its energy deficit. He said the energy transition in Nigeria is a strategic shift towards achieving universal, reliable and sustainable energy access by integrating the grid, mini-grid and off grid technologies while aligning with national development and climate goals.

The CEO who was represented by Mr. Abba Hayatudden, Senior Advisor to the   MD, said “REA is  strategically expanding and optimising channels to accelerate the adoption and sustainable growth of renewable energy across the country   in   the   areas   of   value   chain development, regulation enhancement, funding   windows, alternative   resources   and   technical standardisation.”

Minister   of   Power, Adebayo Adelabu, commended   Sterling   Bank   for convening the conversation on renewable energy.

He stated that the Federal Government has placed renewable energy and rural electrification at the heart of the Renewed Hope Agenda.

The minister who was represented by Engineer Samuel Ayangeaor said, “The Federal   Ministry   of   Power   has   continued   to   expand   electricity   access   to underserved communities in a bid to drive economic growth, foster industrial activity and create jobs across the nation.”

In his goodwill message, Mr. Biodun Ogunleye, Lagos State Commissioner for Energy   and   Mineral   Resources, noted   that   the   current   administration   is implementing the most ambitious energy transformation ever undertaken.

He highlighted the state’s efforts in renewable energy and sustainability, including the two-gigawatt Lagos grid scale solar project.

The CEO of Sterling One Foundation, Mrs. Olapeju Ibekwe, emphasised the need for collective action. She urged participants not to allow the day’s deliberations   to   end   as   mere   conversations   or   points   documented   in   a communiqué.

Instead, she encouraged everyone to leverage the strength of their   networks, act with intention, and   remain   focused   on   delivering meaningful impact.

The colloquium featured two panel sessions on financing and scaling green energy solutions in Africa, among others.

About Sterling Bank

Sterling Bank Limited is a full-service national commercial bank in Nigeria and a member of Sterling Financial Holdings Group.

With a heritage of more than 60 years, the bank has evolved from Nigeria’s pre-eminent investment banking institution to a trusted provider of retail, commercial, and corporate banking services.

Sterling is a forward-thinking financial institution committed to   transforming lives through innovative solutions, exceptional service, unwavering integrity, and a steadfast focus on its HEART strategy, which centers on Health, Education, Agriculture, Renewable Energy, and Transportation. As pioneers in digital banking and financial inclusion, Sterling continues to lead by example, showing   how   purpose-driven   leadership   can   deliver   transformative  outcomes for individuals, businesses, and society at large.

Guided by a culture of innovation and a passion for excellence, Sterling Bank remains dedicated to redefining the banking experience for millions of customers across Nigeria.