Business
World Bank Approves US$228.5million for Senegal River Basin and Wider Sahel
WASHINGTON – The World Bank Board of Executive Directors today approved US$228.5 million for a new push to boost water management in the Senegal River Basin and further improve the development prospects of Guinea, Mali, Mauritania and Senegal.
More than 4.5 million people living within the Senegal River Basin are expected to benefit directly from this multi-country project. Their countries rank among the world’s poorest with 42-53% of the population, mostly subsistence or smallholder farmers, living below the poverty line. Annual population growth is estimated at 2.7 percent and the population is expected to double every 25 years.
During an historic trip last month to the Sahel by development leaders including the UN Secretary General Ban Ki-moon, President Jim Yong Kim of the World Bank Group pledged $1.5 billion in new financing to support major regional development priorities such as social safety nets to help families weather the worst effects of economic adversity and natural disasters, improve infrastructure and create opportunities in rural areas with more hydropower and other sources of clean energy to greatly expand irrigation and transform agriculture.
This is the first project under this new initiative. The project is financed by IDA, the World Bank Group’s fund for the poorest countries.*
“Reducing the withering impact of drought will dramatically improve the livelihoods of millions of farmers, herders, and communities across The Sahel, and help to boost peace and development across their region,” says Makhtar Diop, World Bank Vice President for Africa. “If you want to help the people of The Sahel become more resilient to climate change, you have to fight drought first and foremost.”
The Senegal River Basin, which covers 300,000 km², has significant hydropower and irrigation potential which could greatly improve water and food security and provide cheap renewable energy. This project aims to improve water availability for agriculture and food production, support aquaculture and fisheries management, promote hydropower through feasibility studies, reduce malaria and other neglected tropical diseases that sicken millions of people, and pilot innovative approaches to adapt to climate change.
“While working to meet people’s energy and food needs in the Senegal River Basin, we also have to help families prevent and treat malaria and other borderless water-related diseases that routinely affect their health and ability to work,” says Colin Bruce, the World Bank Director for Strategy, Operations and Regional Integration in Africa.
“That is why this project is also tackling key deficits in health, water, power, food, and fisheries, through strengthened regional cooperation and coordination.” According to the project document, malaria prevalence rates in the Senegal River Basin are estimated at 14.3% among children under 5, and 9.0% among pregnant women, the most vulnerable groups.
Epidemiological mapping shows that Neglected Tropical Diseases (NTDs) such as schistosomiasis, soil- transmitted helminthes/geohelminths, trachoma, lymphatic filariasis and onchocerciasis, affect almost all districts along the Senegal River Basin. Studies have shown that integrated disease control measures, coupled with sound water management, are essential to mitigate the burden of malaria and NTDs in locations near irrigation or dam sites.
The funding approved today includes a US$16-million grant from the Global Environment Facility and the Least Developed Countries Fund to strengthen the capacity of the Organization for the Development of the Senegal River (known by its French acronym, OMVS) which was founded in 1972 to reduce the vulnerability of people’s livelihoods in the Basin through coordinated water resource and energy development.
OMVS is jointly governed by Guinea, Mali, Mauritania and Senegal. “This Senegal River project will demonstrate the power of regional integration and collaboration for a strategic group of countries which face rising energy and food shortages, and growing demand which increasingly hamper their economic performance,“ says Shelley McMillan, World Bank Senior Water Resources Specialist and Team Leader for the Senegal River Basin Project.
“We look forward to working closely with the riparian countries and other key development agencies to help transform lives in the region.’
* The World Bank’s International Development Association (IDA), established in 1960, helps the world’s poorest countries by providing zero-interest loans and grants for projects and programs that boost economic growth, reduce poverty, and improve poor people’s lives. IDA is one of the largest sources of assistance for the world’s 82 poorest countries, 40 of which are in Africa.
Resources from IDA bring positive change for 2.5 billion people living on less than $2 a day. Since 1960, IDA has supported development work in 108 countries. Annual commitments have increased steadily and averaged about $16 billion over the last three years, with about 50 percent of commitments going to Africa.
Business
PENGASSAN Urges Strategic Focus on Local Refining Expansion
The Nigerian authorities have been called upon to focus on strengthening domestic refining capacity.
The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) made the call in a communiqué issued at the end of the three-day PENGASSAN Energy and Labour Summit (PEALS 2026).
It stressed the need for adequate protection for refineries operating in the country.
The PENGASSAN said Nigeria must reduce the economic inefficiency of exporting crude oil while importing significant volumes of refined petroleum products by creating an environment that supports domestic refining and other value‑adding activities.
The communiqué, signed by the union President, Festus Osifo, and General Secretary, Jerry Amah, stressed the need to protect refineries, including Dangote Refinery and Waltersmith Refinery.
The association said the expansion would enable Nigeria to retain a greater share of the value generated from its petroleum resources while creating jobs, conserving foreign exchange and stimulating industrial development. PENGASSAN linked the growth to wider opportunities in petrochemicals, gas processing and other downstream activities.
READ ALSO: Umar Cautions Against Irregular Policies in Nigeria’s Oil Industry
The communiqué reads in part: “The summit called for sustained policies and investments to expand Nigeria’s domestic refining capacity and reduce the economic inefficiency of exporting crude oil while importing significant volumes of refined petroleum products. The need to protect refineries (such as Dangote Refinery, Waltersmith Refinery, etc.) within Nigeria’s jurisdiction was emphasised.
“Nigeria must progressively retain more value from its petroleum resources through domestic refining, petrochemicals, gas processing and other value‑adding activities capable of generating employment, conserving foreign exchange and stimulating industrial growth.
“Ultimately, the strength of Nigeria’s oil and gas industry will not be measured merely by the resources beneath the ground, but by the projects delivered, the value created, the Nigerian capabilities developed, the decent jobs sustained and the prosperity generated for the Nigerian people.”
The association also warned that abrupt policy changes, overlapping mandates, repetitive approvals and conflicting directives increase the cost of doing business and weaken Nigeria’s competitiveness for global energy capital.
The PENGASSAN called for faster regulatory approvals, digitalised processes and clearer timelines, arguing that the effectiveness of regulation should be measured by its impact on investment, production, government revenue, job creation and national value rather than simply by the number of licences or approvals issued.
On gas, the PENGASSAN advocated an integrated approach to developing Nigeria’s more than 215 trillion cubic feet of proven reserves, including investments in processing facilities, pipelines, storage, LNG, LPG and CNG infrastructure. It said gas should be deployed more aggressively for power generation, manufacturing, transportation, fertiliser and petrochemical production.
The association also urged stronger protection of workers’ rights, occupational safety and employment during mergers, acquisitions, divestments and asset transfers, saying sustainable investment requires skilled and fairly treated workers and that increased production must not come at the expense of workers’ lives and wellbeing.
In addition, the PENGASSAN said the next phase of Nigeria’s petroleum industry must focus on execution with measurable targets and clearly assigned responsibilities to ensure policies translate into projects, production, investment and sustainable employment.
Business
PENGASSAN to Link Up with NUPRC to Unlock 3mmbopd
Two key stakeholders in Nigeria’s oil and gas industry have resolved to work closed to unlock three million barrels per day (bpd) of crude oil by 2030.
The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), according to the new President of former, Comrade Bosun Olabiyi-Agoro, would be working closely with each other to attain the objective.
He made the disclosure on Wednesday while on a visit to the NUPRC corporate headquarters.
The Head, Media and Corporate Communications, NUPRC, Eniola Akinkuotu, who made the disclosure in a statement, also credited the PENGASSAN President with declaring that inasmuch as the union is open to negotiations, issues bordering on the rights of workers to freely associate and join the union are non-negotiable.
READ ALSO: Tinubu Banks on NLNG Train 7 to Boost Nigeria’s Gas-led Economy
He made it public that issues surrounding contract staffing will be one of the key issues his administration will address.
“The President of Nigeria has an ambition which he runs through the CCE which is to make sure that by 2030 we are able to produce three million barrels per day. All of us have to work to make that happen. It will be our happiness to make sure that that target is actually attained. We can assure you that we are here to collaborate. We will be very reasonable,” Olabiyi-Agoro assured.
On her part, the Commission Chief Executive, Oritsemeyiwa Eyesan, said the President Bola Tinubu-led Federal Government had been working assiduously to increase production as evidenced by the latest executive order which is targeted at deep offshore investments. She noted that production had risen from a low of 1.1mmbopd a few years ago to an estimated 1.755mmbopd in 2026.
Seeking the support of PENGASSAN to achieve this target, Eyesan, said industrial stability remained critical to hitting higher production targets.
“As you settle into your new role, be assured that the commission will give you 150 per cent cooperation. In addition to the support we will give you, we want to ask that we work very closely to actualise government objectives.
“We want to grow production from our current level to 3 million barrels in 2030. For gas, we are still doing under 8bcf and we want to grow that to 12bcf by 2030. So, let’s make that happen,” she stated.
Business
Tinubu Banks on NLNG Train 7 to Boost Nigeria’s Gas-led Economy
As the multi-billion-dollar Nigeria LNG Limited (NLNG) Train 7 Project reaches more than 90 percent completion, President Bola Tinubu has described it as critical to Nigeria’s gas-led economic agenda.
According to Tinubu, the successful delivery of the project would help expand Nigeria’s gas exports, create jobs, deepen local capacity and strengthen investor confidence in the country’s oil and gas sector.
The President spoke at the State House, Abuja, on Thursday when he received an NLNG delegation led by its Managing Director and Chief Executive Officer, Adeleye Falade.
The delegation briefed the President on the progress of Train 7, prospects for further expansion and challenges affecting the company’s operations and contributions to the national economy.
The discussions also covered the pricing and accessibility of liquefied petroleum gas (LPG), trucking along the Bonny-Bodo Road corridor, NLNG’s contribution to public revenue, its investments in the Bonny-Bodo Road and other social-impact projects, and the need for a more enabling business environment.
Tinubu congratulated Falade on his appointment, describing his assumption of office as coming at a defining period for the NLNG and Nigeria’s gas development ambitions.
Tinubu expressed the view that the completion of the Train 7 project must translate the country’s vast gas reserves into jobs, increased exports, industrial growth and long-term economic value.
“I congratulate you, Leye, on your appointment. Train 7 is at the centre of our national gas agenda. Its success matters not only to NLNG, but to Nigeria’s economic future,” the President said.
Tinubu commended the progress recorded on the project, describing Train 7 as a benchmark for project delivery, partnership, Nigerian content development and investor confidence.
He assured the NLNG management that the Federal Government would continue to improve the business environment, provide greater regulatory clarity and remove bottlenecks affecting major oil and gas investments.
“Nigeria is open for business, but it must be business that creates value at home — building capacity, supporting communities, protecting the environment and contributing to national prosperity. NLNG must continue to lead by example,” he added.
Responding, Falade thanked the President for his administration’s support for NLNG and the broader gas sector, assuring him that the company remained committed to the safe and successful completion of Train 7.
“With the project now over 90 percent complete, our immediate priority is to deliver the remaining work safely, efficiently and to the required quality, while preparing the plant for reliable and sustainable operations,” Falade said.
He said the project would increase Nigeria’s LNG production capacity, support export growth, create opportunities for Nigerian workers and businesses, deepen local participation and generate greater long-term value from the country’s gas resources.
Falade also restated NLNG’s commitment to supporting the domestic LPG market and improving access to cleaner cooking fuel for households and businesses.
He, however, called for coordinated action among the Federal Government, regulators and industry operators to increase domestic supply, improve storage and distribution infrastructure, eliminate avoidable costs and create a more transparent and efficient LPG market.
“Improving LPG accessibility is important to Nigeria’s energy transition and to the wellbeing of millions of Nigerian households. NLNG remains committed to supporting the domestic market, but improving affordability requires coordinated action across the entire LPG value chain,” he said.
The NLNG chief also sought the President’s intervention in addressing ease-of-doing-business challenges, particularly the proliferation of taxes, levies, charges and regulatory demands imposed by different tiers and agencies of government.
According to him, multiple and sometimes conflicting fiscal and regulatory obligations raise operating costs, create uncertainty and could discourage existing operations and future investments.
Falade assured the President that NLNG was ready to align more closely with the Federal Government’s development agenda and explore additional areas of partnership.
The meeting ended with a renewed commitment by the Federal Government and NLNG to sustain momentum on Train 7 as the project enters its final phase.
Both sides also agreed to strengthen their partnership to support the project’s successful delivery and NLNG’s broader contribution to Nigeria’s gas development and economic growth.





