Vehicle sales may reach 600K by 2030

Total vehicle sales in the country are projected to reach the 600,000-unit mark by 2030, according to leading automotive firm Toyota Motor Philippines Corp. (TMP).

Sherwin Chua-Lim, senior vice president at TMP said that the projection is based on the firm’s forecast of around five to six percent annual growth in vehicle sales starting next year until 2030.

While the country’s vehicle sales are expected to post five to six percent growth per year starting next year, TMP expects total automotive industry sales to dip this year due to the Middle East crisis.

‘Initially, when we started the year, we were looking at around one percent growth (in total vehicle sales). But because of the Middle East (crisis), it dropped,’ Chua-Lim said.

Ongoing tensions in the Middle East have disrupted global oil supply, leading to higher fuel prices and other costs, which have affected consumption.

Chua-Lim said that Filipino consumers are also highly vulnerable and easily affected by sudden changes or disruptions.

As such, he said that TMP now expects total automotive industry sales to decline by around two percent this year.

Total vehicle sales in the country hit a record high of 491,395 units last year, up by 3.7 percent from the previous record of 473,842 units set in 2024.

While overall vehicle sales are expected to decline this year, electrified vehicles (xEV) such as battery electric vehicles, hybrid electric vehicles and plug-in hybrid electric vehicles, continue to defy the trend and see growing demand amid high fuel costs.

‘Based on what we see, next year is the recovery year. How fast is the question,’ Chua-Lim said.

‘Once you recover you can have stable growth year-on-year. But without that, you cannot really project a close to accurate number,’ he said further.

Latest data from the Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) and Truck Manufacturers Association (TMA) showed that their combined sales from January to July reached 241,725 units, 10 percent lower than the 269,207 units sold in the same period last year.

Meanwhile, CAMPI and TMA’s xEV sales in the seven-month period surged by 136 percent to 38,286 units from 16,195 units in the same period a year ago. The sales figure does not include other industry players such as BYD.

National Lottery pays Sh250 million to winners as Main FM unveils new game

ITHUBA Tanzania Limited, operator of the National Lottery, paid out Sh250 million to various winners during its first year of operations as the company enters the second year of its eight-year contract.

The figure was revealed yesterday during the signing of a strategic partnership between ITHUBA Tanzania and Mainstream Group Limited to launch MainPesa LOTTO through Main FM.

The partnership gives the National Lottery a new platform to reach sports fans and other listeners through radio, while Main FM will promote the game through its programmes and digital platforms. MainPesa LOTTO allows participants aged 18 and above to buy a Sh1,000 ticket and get three opportunities to win through period, end-of-day and weekly draws.

ITHUBA Tanzania chief executive Kelvin S Koka said the partnership would bring the National Lottery closer to players through a radio platform they know and listen to regularly.

Mainstream Group chief executive Deogratius Mosha said the initiative was part of the company’s ‘Radio Moja’ strategy, aimed at connecting its audience with different opportunities through its platforms.

Main FM will promote MainPesa LOTTO through radio programmes, commercial spots, verified results, winners’ stories and digital content, strengthening its connection with the sports and entertainment audience.

The new game will have period draws from Monday to Saturday at 9am, noon, 3pm, 6pm and 9pm. The 9pm draw will also include the end-of-day draw, while the Saturday night draw will feature the weekly draw.

Prizes below Sh1 million are expected to be paid directly into the mobile money account linked to a winning ticket after verification, while prizes of Sh1 million and above will follow the National Lottery’s major prize claim procedure.

MainPesa LOTTO is available only to people aged 18 and above, with participants urged to play responsibly and treat lottery games as entertainment rather than an investment or guaranteed source of income.

Sri Lanka’s next cybersecurity strategy should assume the hacker gets in

For decades, cybersecurity has been built around a simple objective: keep the attacker out.

Build stronger firewalls. Improve passwords. Add multifactor authentication. Monitor networks. Detect intrusions faster.

All are necessary. But the digital economy is reaching a point where they are no longer sufficient.

A recent case in Europe illustrates why. Financial Times reporting revealed that sensitive customer information held by fintech Revolut was obtained by criminals who allegedly compromised an official Italian government communications channel and impersonated law-enforcement authorities.

The striking point is that Revolut says its own systems and databases were not breached.

The attackers did not need to break through the front door. They persuaded someone with legitimate access to open it.

For Sri Lanka, this should be an important warning.

Digital transformation

The country is embarking on an ambitious digital transformation involving digital identity, digital payments, data exchange, online government services and increasing use of artificial intelligence. The more successful that transformation becomes, the more valuable Sri Lanka’s digital infrastructure becomes to criminals.

Sri Lanka CERT’s National Cyber Security Strategy records 21,743 cyber and social-media incidents reported in 2024. Financial scams accounted for 2,241 reported cyber incidents, alongside phishing, ransomware and data breaches.

The conventional response is to spend more on defending databases.

There is another question we should ask: why are we creating so many repositories of valuable, readable data in the first place?

A database containing millions of identity records is valuable because the information inside can be read, copied and reused. The same applies to financial records, medical information, land records, corporate documents and government data.

Encryption protects much of this information while stored or transmitted. But authorised systems and users eventually need access to it.

That creates a fundamental weakness.

Artificial intelligence

An attacker does not always need to defeat the encryption. Sometimes it is easier to compromise the person, application, credential or trusted institution authorised to access the information. Artificial intelligence makes the problem more serious. AI can strengthen cyber defence, but it can also automate reconnaissance, create convincing impersonations and allow attackers to operate at a scale previously requiring significant resources.

Cybersecurity architecture therefore needs to evolve from simply preventing access towards minimising what successful access can reveal.

Imagine a different model.

Instead of storing a complete sensitive document in one location, information can be cryptographically protected and distributed so compromising one repository does not deliver a usable prize.

Instead of sending an entire identity document whenever a fact must be established, cryptographic proofs can confirm the required fact without exposing all the underlying information.

Instead of trusting a request because it arrived through an authorised channel, important transactions can require independently verifiable proof of authority. And instead of security ending once somebody successfully logs in, sensitive actions can become an auditable chain of cryptographically verifiable events.

The principle is straightforward:

Assume someone eventually gets through. Design the data so that getting through is not enough.

This is particularly important for Sri Lanka because much of the country’s digital infrastructure is still being built.

Developed economies carry enormous amounts of legacy technology and decades of accumulated databases. Replacing them is extraordinarily difficult.

Sri Lanka has the opportunity to avoid creating some of those problems in the first place. Emerging digital identity, data-exchange and government-service infrastructure should therefore minimise centralised concentrations of sensitive information; disclose only information required for a transaction; separate verification from possession of the underlying data; make critical actions independently verifiable; and design recovery from compromise into the architecture from the beginning.

This does not mean abandoning conventional cybersecurity. Firewalls, endpoint protection, identity management, monitoring and incident response remain essential.

It means recognising their limitation.

No organisation can credibly promise that an employee will never be deceived, credentials will never be compromised, software will never contain a vulnerability or an attacker will never penetrate a network.

A modern national cybersecurity

A modern national cybersecurity architecture should therefore be judged not only by whether attackers can enter it, but by what an attacker receives if they succeed. That question becomes even more important as Sri Lanka’s core Personal Data Protection Act compliance regime approaches commencement in January 2027. Protecting personal information should not simply mean imposing stronger obligations on organisations after they collect it. Technology can reduce how much sensitive information organisations need to possess and expose in the first place. Sri Lanka does not need to reproduce the digital architecture of countries that digitised 20 years earlier and then spend the next twenty years repairing its weaknesses.

It can build differently.

As Sri Lanka constructs the foundations of its digital economy, cybersecurity should no longer begin with the assumption that every wall will hold forever.

Build the walls. But build the data architecture on the assumption that one day, somewhere, one of them will fail.

GSIS allots almost ?8-B in emergency loan for 318K members, pensioners in 16 areas

The Government Service Insurance System (GSIS) has increased its emergency loan assistance to almost ?8 billion, benefiting 317,721 active members and old-age and disability pensioners in 16 areas affected by widespread flooding and other impacts of Typhoons ‘Luis,’ ‘Maymay,’ and ‘Neneng,’ and the enhanced Southwest Monsoon (Habagat).

The expanded emergency loan program covers qualified GSIS members and pensioners working or residing in affected areas in Luzon and Mindanao, with application deadlines ranging from September 20 to November 16, 2026, depending on the area.

Qualified members and pensioners in Hagonoy in Bulacan, and Masinloc in Zambales may apply until September 20; Bulacan (except Calumpit and Hagonoy), Bataan, Zambales (except Olongapo City and Masinloc), and La Trinidad, Benguet until September 26; and Nasugbu in Batangas and Paluan in Occidental Mindoro until September 27.

For other municipalities in Benguet (except Baguio City and La Trinidad), Tarlac, and Pangasinan (except Dagupan City, Mangaldan, and Sta. Barbara), the filing deadline is on October 2; Imelda in Zamboanga Sibugay on October 3; Occidental Mindoro on October 7; and Olongapo City in Zambales on October 9.

In the province of Cavite, and Rodriguez in Rizal, application deadlines are on November 12 and 16, respectively.

The affected areas experienced flooding, property damage, and disruptions to normal community activities following the combined effects of the weather disturbances, prompting the concerned local government units to declare their respective areas under a state of calamity.

In response, GSIS ensures access to essential social insurance services by providing timely financial assistance through its Emergency Loan Program to qualified members and pensioners whose homes, livelihoods, and communities have been affected by the disasters.

Under the GSIS Emergency Loan Program, qualified active members and old-age and disability pensioners may avail of a ?20,000 emergency loan. Those with an existing emergency loan account may avail of up to ?40,000, with the outstanding balance of their existing emergency loan deducted from the proceeds.

The emergency loan carries an interest rate of 6% computed in advance, payable over 36 monthly installments. The monthly amortization is ?655.56 for a ?20,000 loan and ?1,311.11 for a loan of up to ?40,000.

To qualify, active members must be bona fide employees of an agency located in or residents of the declared calamity area; must not be on leave without pay; must have paid the required 3-month premium contributions within the prescribed six-month period; must have no unpaid loans for more than six months; must have no pending administrative or criminal case; and must maintain the required minimum take-home pay of ?5,000 after loan availment.

Old-age and disability pensioners must be residents of the declared calamity area and retain at least 25% of their basic monthly pension after emergency loan availment.

Members and pensioners may apply for the emergency loan through the GSIS Touch mobile app.

Loan proceeds will be directly credited to the borrower’s accredited eCard or UMID card.

For more information on the GSIS Emergency Loan, visit the GSIS website and official social media accounts, email gsiscares@gsis.gov.ph, or call the GSIS Contact Center at 8847-4747 in Metro Manila; 1-800-8-847-4747 for Globe and TM subscribers; or 1-800-10-847-4747 for Smart, Sun, and TNT subscribers.

2027 Will Be APC Vs. Nigerians – Makinde

Oyo State Governor and presidential candidate of the Allied Peoples’ Movement (APM), Seyi Makinde, has said the 2027 presidential election will be a contest between the ruling All Progressives Congress (APC) and ordinary Nigerians, rather than between political parties.

Speaking in Katsina on Tuesday during a Northwest town hall meeting organized by his campaign team to present the party’s ‘Reset Nigeria’ agenda, Makinde declared:

‘It would not be APC versus APM, or APM versus APC, or APC versus ADC-it will be APC versus Nigerians.’

Urging citizens to obtain their Permanent Voter Cards (PVCs) and participate actively, Makinde outlined that the ‘Reset Nigeria’ initiative focuses on the economy, education, insecurity, and institutional reforms to build a country that works for all citizens regardless of tribe, religion, or region.

Makinde also used the event to refute claims made by the Minister of the Federal Capital Territory (FCT), Nyesom Wike, that President Bola Ahmed Tinubu granted Oyo State N50 billion to upgrade the Ibadan Airport.

Wike had claimed during a television interview on Monday that the Federal Government provided the funds to support the upgrade of the Ladoke Akintola Airport in Ibadan to international standards.

Describing the assertion as false, Makinde clarified that the project is funded 100 percent by the Oyo State Government.

‘My attention was called to an interview granted by the FCT Minister, Mr. Nyesom Wike, where he said the President gave ?50 billion to Oyo State or to me to upgrade the airport in Ibadan to international standards. I want to say that claim is false,’ Makinde stated.

‘The President didn’t give ?50 billion to me or to Oyo State to upgrade the Ibadan Airport. The project is being undertaken 100 percent with the state’s resources.’

The APM presidential candidate expressed deep concern over the country’s worsening security situation, citing the recent killing of 37 young Nigerians in Niger State.

He also criticized President Tinubu for failing to formally transmit executive power to Vice President Kashim Shettima during extended foreign trips, citing Section 145 of the Nigerian Constitution.

Makinde emphasized that he consistently hands over power to his deputy whenever he travels abroad for more than 21 days, promising to uphold this constitutional requirement if elected.

Also speaking at the event, the party’s vice-presidential candidate and former DSS Director-General, Lawal Musa Daura, identified insecurity and poverty as the twin challenges crippling the Northwest region.

Daura emphasized that the Makinde-led APM ticket offers Nigerians a viable alternative, committing to systematic national restoration. He called on citizens to exercise their civic duty within lawful bounds and support the APM campaign in restoring peace and economic stability across the nation.

Don’t Sponsor Pilgrims With Stolen Funds, Sultan Tells Politicians

The Sultan of Sokoto, Alhaji Sa’ad Abubakar III, has cautioned politicians and public office holders against sponsoring pilgrimages to Holy lands of Mecca and Jerusalem with stolen public funds.

?The Sultan gave the charge at the opening ceremony of the stakeholders’ meeting organised by the Nigeria Inter-Religious Council (NIREC) in Abuja, on Wednesday.

?Addressing participants, the traditional cum religious leader emphasised that religious leaders should actively collaborate with anti-corruption agencies to curb systemic graft.

?’We, as religious leaders, must fight corruption because God Almighty doesn’t like corruption

‘You cannot steal money and send people to Jerusalem or Mecca with corrupt funds and think God will accept your deeds. God is not corrupt, so you cannot use corrupt money for Hajj or anything else,’ he said.

?The Sultan urged the Economic and Financial Crimes Commission (EFCC) to deal decisively with corrupt individuals, regardless of their political or religious affiliations.

‘Whoever is involved-our brothers, sisters, fathers, or friends should face the law.

‘When someone is facing the law, do not tell me he is the pastor of so-and-so church or the chief imam of so-and-so mosque. We do not want to hear that,’ he said.

He also urged the EFCC to discharge its duties without political interference.

?Highlighting the importance of national unity, Abubakar praised NIREC as a unique platform for fostering dialogue between Christians and Muslims.

He said that such regular interactions were essential for peace, stability, and national development.

?He further urged religious leaders to prioritise genuine mutual understanding over mere tolerance.

?’I keep telling people that I don’t want you to just tolerate me, because tolerance means enduring something you have no choice about.

‘But if you understand me, we can work together because we know who we are to each other,’ he said.

The Sultan also cautioned clerics to mind their utterances from the pulpit, especially during election periods, urging to pray for national leaders rather than use religious platforms to incite division or attack public officers.

?He paid tribute to the outgoing Executive Secretary of NIREC, Prof. Cornelius Omonokhua, commending his eight-year tenure for transforming the council into a vibrant national platform.

Abubakar urged participants to discuss national issues openly and avoid spreading rumours upon returning to their communities.

?In an overview of the Interfaith Anti-Corruption Manuals Project, Prof. Adedibu Ojerinde, described the manuals as a joint strategic initiative between the EFCC and Nigeria’s religious leadership to address the nation’s moral crisis.

Ojerinde is the Chairman of the Interfaith Anti-Corruption Advisory Committee (IAAC).

?Ojerinde said the project, the 2007 National Interfaith Forum on Corruption outcome, aims to mobilise the pulpit and minbar to transform public morality through dedicated preaching manuals anchored in biblical and Qur’anic texts.

?He said the manuals originally inaugurated in 2014 and re-inaugurated January 2024 by President Bola Tinubu, were expanded to address contemporary challenges, including youth, cybercrime and money laundering vulnerabilities within religious institutions.

?Ojerinde said that the formal handover of the manuals to NIREC marked a shift from publication to practical execution.

He urged for the integration of anti-corruption themes into Friday sermons and Sunday messages.

The opening ceremony was attended by Christian and Muslim leaders, government officials, security representatives and the media. (NAN)

Security Operatives Kill 18 Suspected Bandits In Katsina

Joint security forces have killed 18 suspected bandits and recovered two AK-47 rifles, a G3 rifle and other weapons during an operation in Bakori Local Government Area of Katsina State.

The operation, involving hunters, members of the Community Watch Corps and local vigilante groups, was conducted at about 1am on Monday at Gidan Iyado, Kakumi ward.

The Katsina State Ministry of Internal Security and Home Affairs said the operation was based on intelligence that the group was planning to abduct residents for ransom.

According to the ministry, the security personnel laid an ambush for the group and engaged them in a gun battle, resulting in the death of 18 suspected bandits.

The ministry identified the alleged leader of the group as Alhaji Musa Duki, a former school headmaster whom it said, had turned a bandit kingpin operating from Mununu Forest in Faskari Local Government Area.

Items recovered during the operation included one G3 rifle, two AK-47 rifles, 14 rounds of 7.62mm live ammunition and three motorcycles.

The security forces also recovered two cows and 94 sheep suspected to have been rustled by the criminal group.

Similarly, the Katsina State Commissioner for Internal Security and Home Affairs, Dr Nasir Mua’zu, said no security operative was killed during the operation, adding that a covert operation was ongoing to track down the alleged kingpin and dismantle his network.

He commended the hunters, Community Watch Corps and vigilante members for their contributions, and urged residents to continue providing credible information to security agencies.

Skrive Foundation Calls For Stronger Integration Of Practical Skills Into Education

Organisers of the 2026 Skrive Foundation Open Essay Competition have called for a stronger integration of practical skills into Ghana’s education system.

At the essay competition awards ceremony, which saw students submitting essays on the theme ‘Should education in Ghana focus more on practical application than theoretical knowledge?’, finalists argued that classroom knowledge should translate into real-world skills and problem-solving.

Speaking at the ceremony, guest speaker Emmanuel Nikoi, said the country needs an education system that enables students to understand concepts and apply them to real-life challenges.

He said the essays demonstrate that students recognise the importance of both theoretical knowledge and practical application.

‘The issue is not simply about choosing theory over practicals or practicals over theory. It is about making education meaningful and useful,’ he said.

He added that the country needs young people who can learn, apply knowledge, identify problems and develop solutions.

He cited examples of students being able to understand science while also applying it, study business while creating businesses, and learn technology while using it to solve problems in their communities.

Mr. Nikoi congratulated the finalists and participants, emphasising that valuable skills such as research, writing and the courage to express ideas can contribute to their future development.

The Secretary of Skrive, Deborah Koranteng, said the theme was to highlight social perceptions surrounding vocational education, and called for a system in which vocational and academic pathways receive appropriate recognition.

‘Both vocational skills and theory are good,’ she said.

She stressed that the competition is intended to encourage young people to think about education beyond examinations and certificates.

Ms. Koranteng said the competition received 372 essays from young writers across 14 of Ghana’s 16 regions.

The entries came from Greater Accra, Ashanti, Eastern, Central, Western, Volta, Northern, Upper East, Upper West, Bono, Bono East, Ahafo, Savannah and North East regions, with participants aged 14 to 30, including junior high school, senior high school and tertiary-level students.

Every essay was reviewed anonymously by an independent panel of judges and assessed out of 100 marks using four criteria.

Insightful argumentation accounted for 30 per cent, considering depth of thought, strength of argument, understanding of Ghana’s educational context and originality.

Writing and organisation accounted for 25 per cent, assessing clarity, coherence, grammar, paragraphing and logical flow.

Another 25 per cent was allocated to the use of evidence and examples, including relevant data, personal experiences and references to Ghanaian realities.

Creativity and originality accounted for the remaining 20 per cent, focusing on the writer’s voice, creative expression and ability to make readers think differently.

The competition forms part of Skrive’s broader programme of promoting literacy and creativity among young Ghanaians.

Skrive Foundation currently focuses on reading, writing and the arts, with plans to expand into sewing and fashion as well as culinary and grooming. At the awards ceremony, finalists were presented with certificates of participation.

Winner Houd Fadilla Lillian received a GHS5,000 cash prize, a MacBook and stationery.

First runner-up Christiana Boamah Donkor received GHS3,000 and stationery, while second runner-up Lois Saneka Kombat received GHS2,000 and stationery.

Skrive Foundation plans to launch Skrive Designs as a 2027 project focused on sewing, fashion, design and textile art.

Organisers said details of the project would be published on the organisation’s website by December 2026.

Skrive Foundation is a non-governmental organisation that promotes arts and literacy among young people.

Healthy parents, healthier families: Why our heart, kidneys and metabolism are connected

AS parents, we are used to seeing the family as one connected unit. When one child is sick, everyone’s routine changes. When a parent is exhausted, the mood of the household can shift. Interestingly, our bodies work with a similar interconnectedness.

Our heart, kidneys and metabolic health do not operate separately. Hypertension, diabetes, chronic kidney disease and cardiovascular disease can overlap and influence one another. These are often discussed as cardio-renal-metabolic (CRM) conditions. The American Heart Association likewise describes these systems as interconnected.

For parents, this matters because chronic conditions can progress quietly. We may feel well enough to work, prepare meals and drive children to school, yet high blood pressure, high blood sugar or early kidney disease may be developing without obvious symptoms.

The roundtable report notes that about one in five Filipinos aged 15 and older lives with at least one chronic condition, including hypertension, chronic kidney disease, diabetes or cardiovascular disease. It also cites an estimated P593.7 billion economic burden from chronic kidney disease alone in 2023. Behind these numbers are families adjusting budgets, work and caregiving around illness.

This made me think about a lesson I return to often in Mommy No LimitS: taking care of the ‘i-Parent’ is an integral part of family care.

On July 30, Access Health International convened the Cardio-Renal-Metabolic Policy Roundtable with the German-Philippine Chamber of Commerce and Industry and the European Chamber of Commerce of the Philippines, with support from Boehringer Ingelheim Philippines. Participants discussed prevention, early detection, access and coordinated long-term care. Atty. Eli Dino D. Santos, executive vice president and chief operating officer of PhilHealth, said: ‘Because these conditions do not exist in isolation, protecting our citizens requires investing in early primary care. PhilHealth stands firm in its commitment to expanding financial risk protection, strengthening primary care financing, and ensuring the long-term sustainability of chronic disease management.’

The phrase ‘do not exist in isolation’ is meaningful for families. We sometimes treat health one number at a time: blood pressure today, blood sugar another day, kidney tests only when something feels wrong. Yet our body is one system. The American Heart Association’s 2026 guideline reinforces this connected approach, emphasizing earlier risk detection and coordinated management.

What can families do with this information? We can begin with small, realistic habits. First, know your numbers. Ask your healthcare professional how often you should check blood pressure, blood sugar, cholesterol, weight or waist measurement and kidney function based on your age, history and individual risks. Screening matters precisely because some problems can be silent.

Second, make health a family activity. Walk after dinner. Make water the everyday drink. Put more vegetables and minimally processed foods on the table. Protect sleep. Children who see healthy routines at home learn that health is a lifelong habit.

Third, know your family history. Diabetes, hypertension, kidney problems and cardiovascular disease in parents or grandparents are worth discussing with your doctor. Knowing our risks can encourage earlier screening.

Fourth, keep a simple family health record of medicines, diagnoses, allergies and recent laboratory results. Good information helps healthcare teams see the bigger picture.

Dr. Anthony Russell Villanueva, consultant nephrologist at the National Kidney Transplant Institute, reminded participants that CKD reaches beyond medical bills, affecting work, productivity, families and the healthcare system. Prevention and earlier detection are family issues too. This family-health advice is also consistent with the American Heart Association’s patient guidance, because high blood pressure, early kidney disease and diabetes can be asymptomatic. Families cannot do this alone. The roundtable emphasized collaboration among healthcare providers, government, patient groups and the private sector, including stronger health information systems, disease registries, sustainable financing and better coordination.

As parents, we spend years preparing our children for the future. We save for school, attend games and imagine graduations, careers and perhaps grandchildren someday. Our own health deserves a place in those plans each day. A checkup may not feel as urgent as today’s deadline. A walk may seem easy to postpone. But caring for our heart, kidneys and metabolic health today may help protect the tomorrows we hope to share with our families.

Perhaps family health begins with a simple realization: our bodies are connected, and so are our lives. When parents choose prevention, healthier routines and timely care, we are not caring only for ourselves. We are protecting more breakfasts together, more celebrations, more ordinary conversations and more years of showing up for the people we love.

NSIA, Partners Launch Nigeria’s $300m Renewable Energy Fund

The announcement marks the shift from years of structuring work into active investment in off-grid and mini-grid power projects across the country, a statement by the Authority has said.

The announcement came on the sidelines of the United Nations General Assembly in New York, where the Nigeria Sovereign Investment Authority (NSIA), pan-African investment platform Africa50, and Sustainable Energy for All (SEforALL) jointly unveiled the fund’s commercial launch on Monday in Abuja.

‘The $300 million vehicle is intended to channel capital toward distributed renewable energy solutions, including mini-grids and standalone solar systems, that can reach households and businesses currently left out of Nigeria’s traditional power grid.

‘The initiative is closely tied to Mission 300, the continent-wide push to connect 300 million Africans to electricity by 2030,’ it said.

NSIA Managing Director and CEO Aminu Umar-Sadiq called the launch a signal to markets and investors that Nigeria’s distributed renewable energy sector is ‘investable, credible and ready to operate at scale.’

Africa50 Group CEO Alain Ebobissé pointed to the partnership’s combined strengths, NSIA’s local market knowledge, Africa50’s investment management experience, SEforALL’s energy-access expertise, and the World Bank’s global backing, as the foundation for a model that could be replicated in other African countries.

Daily Trust reports that the World Bank is a founding partner in the fund, contributing an initial $25 million through the International Development Association (IDA).

Managing Director of Operations, Anna Bjerde said the contribution reflects the Bank’s commitment to combining funding sources to deliver real electricity connections across the continent.

SEforALL’s Damilola Ogunbiyi and International Solar Alliance Director General Ashish Khanna both framed the fund as a template for scaling private-sector-led energy investment beyond Nigeria’s borders, with Khanna noting that lessons from the partnership, including knowledge sharing between Africa and India, could help other nations unlock similar financing.

Co-managed by Africa50 and NSIA, the fund is designed to grow into a broader platform for cultivating a new generation of African distributed renewable energy companies.