Historic Moment as Nigeria Wins Bid to Host Africa's $5bn Energy Bank, Beats Ghana, S’Africa, Cote D'Ivoire Industry operators laud continent’s first oil financial institution
Emmanuel Addeh and Peter Uzoho in Abuja After months of international
politicking and massive lobbying, Nigeria yesterday finally won the right to host the $5 billion African Energy Bank (AEB), first of its kind
on the continent. Nigeria was granted the hosting rights for the bank at an extraordinary meeting of the Council
of Ministers of the African Petroleum Producers Organisation (APPO), the umbrella body for oil-producing nations in Africa.
Described as a significant step for the continent's energy sector, the bank is expected to focus investment in oil and gas projects
across the continent and is set to start operations later this year with Continued on page 5
PDP Scoffs at Ighodalo's Dismissal, as A’Court Upturns Pro-Wike Lawmakers' Sack...Page 27 Friday, July 5, 2024 Vol 29. No 10677. Price: N400
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UK's Labour Party on Course for Massive Win, Exit Poll Shows Party projected to win 410 seats, with majority of 170 Keir Starmer to be country's next prime minister
Emmanuel Addeh in Abuja Keir Starmer will be Britain's next Prime Minister with his Labour
Party (LP) set to win a massive majority in a parliamentary election, an exit poll yesterday indicated, while Rishi Sunak's Conservatives
are forecast to suffer historic losses. The poll showed Labour would win 410 seats in the 650-seat parliament and a majority of 170,
ending 14 years of Conservative-led government Reuters reported. Continued on page 5
Starmer
Economy: Tinubu Unveils N2 Trillion Stabilisation Plan Amid Funding Challenge Targets 2m bpd crude production Inaugurates presidential economic coordination council Declares mere 4.5GW power capacity shameful for Nigeria Nigeria's economy can be turned round in few months, says Dangote See story on page 5
INAUGURATION OF PRESIDENTIAL ECONOMIC COORDINATING COUNCIL... L-R: (Front Row): Mr Wale Tinubu, Abdulkadiri Aliu; Kola Adesina; Tony Elumelu; Amina Maina; Alhaji Aliko Dangote; Vice President Kashim Shettima; President Bola Ahmed Tinubu; President of the Senate, Senator Godswill Akpabio; Femi Gbajabiamila; Governor Abdulraman Abdulrazaq; Finance Minister Wale Edun; Doris Uzoka-Anite; (next is an unidentified member of the council); Minister of Power, Adebayo Adelabu and Minister of Budget and Planning, Abubakar Atiku Bagudu, all members of the newly inaugurated Presidential Economic Coordinating Council shortly after its inauguration at the Presidential Villa, Abuja...yesterday GODWIN OMOIGUI
Senate Probes $5.7bn 3,050 Megawatts Mambila Power Contract, Seeks Plant’s Inclusion in Tinubu's Legacy Projects... Page8