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Developing Countries Face $4trn Investment Gap In SDGs – UN

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The UN Conference on Trade and Development (UNCTAD) on Wednesday warned that a green future would remain out of reach if the world doesn’t help developing countries close a two-trillion-dollar gap in investment toward an energy transition.

According to a new UNCTAD report, developing countries actually face a staggering four trillion dollar gap in sustainable development investments.

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The UNCTAD Secretary-General, Rebeca Grynspan, said that a significant increase in material support for renewable energy in developing countries was crucial for the world to reach its climate goals by 2030.

While investment in renewables has nearly tripled since the adoption of the Paris Agreement almost eight years ago, poorer nations have been largely left out.

Grynspan said more than 30 developing countries had not registered a single international investment in utility-size renewable energy generation since the landmark climate change treaty was adopted in 2015.

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According to UNCTAD, the amount of foreign direct investment in clean energy attracted by developing countries in 2022 stands at 544 billion dollars — well below needs.

Some good news from the report is that energy companies among the top 100 multinationals have been increasingly turning toward renewables and divesting fossil fuel assets at about 15 billion dollars per year.

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However, the report shows an overall slower pace of investment in renewable energy in 2022, “as international project finance deals declined”.

In developing countries, the largest gaps in Sustainable Development Goal (SDGs)-related investments were in energy, water and transport infrastructure, UNCTAD said.

Foreign direct investment (FDI) is also on the decline, according to UNCTAD, as global flows fell by 22 per cent in 2022, to 1.3 trillion dollars, while in Least Developed Countries, the vast majority of which are in Africa, FDI inflows dropped by as much as 16 per cent.

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UNCTAD’s report says that the slowdown was driven by “overlapping crises”: the war in Ukraine, high food and energy prices and debt pressures.

With these factors still in play during 2023, the agency said that it expects “downward pressure on global FDI” to continue this year.

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The report calls for series of policies and financing mechanisms to be put in place to help developing countries attract necessary investments.

UNCTAD stressed the importance of debt relief for developing economies, to provide them with the fiscal space needed for clean energy spending and to help lower country risk ratings, a prerequisite for attracting private investment.

The agency also recommended reducing the cost of capital for clean energy investment through partnerships between international investors, the public sector and multilateral financial institutions – a measure that can reduce the spread on borrowing costs for energy investment projects in developing countries by up to 40 per cent.

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Grynspan insisted that investment played a “huge part” in achieving the SDGs.

She said they were simply “too big to fail”, calling them “the only game in town” which requires collective action and global solidarity.

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Shock As Adeleke Employs Roadside puff-puff Hawker As Govt House Chef

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Osun State Governor, Ademola Adeleke, on Thursday shocked a female puff-puff seller during a rally in Osogbo by buying all her snacks with ₦50,000 and offering her employment as a chef at the Government House.

This happened when Osun public servants trooped out in their thousands in what they called an appreciation solidarity rally in support of the governor for his support and care since he took over state governance.

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It was observed that the governor, who sat in the bus, had sighted the woman who was among the crowd cheering him.

He immediately beckoned to the woman carrying a plastic container filled with puff-puff on her head and asked how much it would cost to buy all the snacks.

READ ALSO:Adeleke Flies To US For Davido’s Wedding

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The female hawker, who was visibly surprised and star-struck at the level of her proximity to the governor, found it difficult to even tell the governor how much she sold the snacks.

Surprisingly, Adeleke handed her a bundle of ₦50,000 to the cheers of the crowd.

The lucky woman knelt down in appreciation of the governor’s generosity.

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Excited onlookers quickly rushed to share the snacks in the plastic already purchased by the governor.

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The governor invited the vendor inside the vehicle where one of his officials questioned her academic background, and she revealed that she holds a Nigerian Certificate in Education.

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Adeleke further asked about the dishes she could prepare and instructed his aides to take her contact details for employment as a chef in the Government House.

Confirming the development, the Commissioner II at the Osun State Civil Service Commission, Olaniyan Taofeek, shared the video on X (formerly Twitter), writing: “The moment Gov. Adeleke turned the life of a puff-puff seller into a Government House chef.”

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A Special Assistant to the Governor on Digital Media, Oni Gbenga Lawrence, also corroborated the incident in a post on X, stating: “Moment Governor Ademola Adeleke turned the life of a puff-puff seller to Government Chef… not only ₦50k but he invited her into his car and employed her as chef in the Government House.”

The Guardian correspondent, who was at the scene of the welcome rally, made efforts to interview the lucky vendor, but they did not yield as she was not allowed to alight from the bus throughout the event.
(The Guardian)

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Katsina Govt Revokes Licenses Of All Private, Community Schools

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The Katsina State Government has withdrawn the operating licenses of all private and community schools in the state, with effect from August 13, 2025.

The announcement came through a circular issued by the Ministry of Basic and Secondary Education and signed by Commissioner Hajiya Zainab Musa-Musawa.

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The ministry’s Public Relations Officer, Malam Sani Danjuma, released the document in Katsina on Saturday.

READ ALSO:JUST IN: Kastina Commissioner Assassinated

According to the circular, the move is part of the government’s effort to strengthen quality assurance and standardization within the education sector.

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The withdrawal of licenses is aimed at ensuring that schools operate in line with approved standards and provide quality education to students,” Danjuma said.

The circular also outlined a review of fees for license application, registration, and annual renewal.

READ ALSO:Katsina, UNDP To Return 270,000 IDPs To Ancestral Homes

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“Owners of affected schools are required to obtain fresh licenses by submitting proof of payment to the ministry on or before September 30, 2025.”

The statement also added that school operators have been warned not to increase tuition or other charges without government approval.

The ministry further promised to issue additional guidelines soon, including categorization of schools and the revised fee structure.

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JUST IN: Oldest Missionary To Nigeria, Ruth Elton, Is Dead

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British-born Nigerian missionary, Ruth Elton, reputed to be the oldest missionary has passed on at the age of 91.

Ruth Elton, born 7 September 1933, was a British-born Nigerian missionary whose lifelong dedication to faith, healing, and revival left an indelible mark on communities across western and central Nigeria.

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It was learnt that Elton died on Saturday at Sharon compound, Alafia Bamin Quarters in Ilesa, Osun State.

She was the only daughter of Pa Elton and her remains have been deposited at the mortuary.

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Ruth Elton, daughter of Sydney Granville Elton (Pa Elton), who is referred to as one of the founding fathers of Pentecostalism in Nigeria, had approached a Kaduna court and nationalised as a Nigerian.

At old age and despite the happenings in Nigeria, she still held in high esteem her father’s prophecies that although Nigeria could be known globally for corruption, it would only for a while as new dawn would beckon when the country would be known worldwide for righteousness and prosperity.

Elton moved to Nigeria in 1937 with her parents and served as a Christian missionary across Egbe, Okene, Koton Karfe, and other parts of Kogi, Ondo, Oyo, and Osun States.

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A naturalised Nigerian, having renounced her British citizenship in the 1970s, she embraced the country completely and became fluent in Ebira and Yoruba.

Elton, who remained single, believed that she had made a true mark in the country and apart from her missionary work, she saw her efforts in taming infant mortality, especially in Okene, Kogi State as a generational impact.

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Relating her experience on infant mortality in the country, Elton recently noted that many newborn babies had passed on due to lack of proper care and hygiene, adding that the practice of force-feeding babies contributed to the challenges, especially in the face of poor awareness.

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