Kwara State Governor AbdulRahman AbdulRazaq has reiterated his commitment to building an Independent Power Plant (IPP) in order to generate electricity power for sale and utilities to boost economic development as well as increase employment opportunities in the State.

The State Commissioner for Energy, Engr. AbdulAzeez Kola AbdulGaniy, disclosed this yesterday during the second quarterly Inter-Ministerial Press Briefing organised by the Ministry of Communications, Ilorin.

Engr. AbdulGaniy said all hands are on deck to generate energy supply in the State and go renewable by generating power through solar, therma and biogas in order to reduce air pollution thereby creating a healthy environment for residents.

The Commissioner explained that this was in line with the 2023 electricity bill passed by the President of the Federal Republic of Nigeria, President Bola Tinubu, which gives States the power to generate, transmit and distribute electricity so as to boost economic growth and development as well as attract investors to the State.

Hon. AbdulGaniy enumerated several accomplishments of the State in the Energy Sector for the months under review, which include: procurement and installation of transformers in different communities in Asa, Moro, Ilorin West and Kaiama respectively.

He added that the “Construction of 11KV dedicated feeder from Agba-Dam, finalised arrangements on the immediate release of 15MVA 33/11KV power transformer to Alagbado and Sobi Communities, were already approved by the Governor, Mallam AbdulRahman AbdulRazaq.”

“Governor AbdulRahman AbdulRazaq is passionate about the needs of his citizenry as he will not leave any stone unturned. He has also approved the immediate installation of already allocated transformer to Reke in Asa Local Government Area for improved way of life for the community and its environs”, the Commissioner stated.

Lagos, Nigeria: Nigeria’s leading commercial bank and one of Africa’s fastest-growing companies, Sterling Bank, has changed the course of Nigeria’s energy and transportation sectors with the launch of Qore; its suite of renewable energy-powered transportation solutions. Qore will offer the purchase and financing of electric vehicles (EVs), EV charging stations, conversion of fossil-fuel-powered engines to EV engines, battery swapping services for modular EVs, and more.

Speaking at the launch of Nigeria’s first publicly available EV charging station in Lagos, CEO of Sterling Bank, Abubakar Suleiman, said that the launch of Qore is a significant milestone in the bank’s journey towards powering Nigeria’s transportation sector with renewable energy.

According to Suleiman, “Qore will revolutionise the very idea of how we power movement by providing clean, sustainable and cost-effective options for individuals and businesses, while impacting positively on the sector’s environmental footprint.“

Also speaking at the launch, Group Head for Renewable Energy and Transportation at Sterling, Olabanjo Alimi, further explained that Qore focuses on improving mobility services in Nigeria by providing affordable and cleaner transportation alternatives to petrol and diesel powered vehicles. He described Qore as a “mobility project” that will offer a range of products, including the manufacture and sale of EVs, financing for the purchase and distribution of EVs, and mobility-as-a-service options to cater to first- and last-mile transportation.

Alimi said, “Qore will deliver innovative solutions through partnerships that provide sustainable energy options for vehicles through stations such as this. This will accelerate the adoption of clean mobility solutions that allow interested customers to buy EVs directly, or even convert their existing petrol- or diesel-powered vehicles to run on electricity.”

“Along with the readily available technology to convert petrol or diesel powered vehicles, Qore will drive EV adoption in the Nigerian market by providing charging infrastructure and battery swapping services to quicken the turnaround time of restoring power to EVs.”

He continued by saying that Qore had pioneered, along with the first publicly available charging station in the country, a proprietary payment solution that will allow for direct interaction with the battery management system of vehicles that charge up at the station.

The Group Head concluded by highlighting that this is a watershed moment for the Nigerian EV market, emphasizing Qore’s openness to partnerships and collaborations to increase the creation of EV infrastructure and adoption in the country.

The adoption of Qore’s suite of solutions is already increasing with the acquisition of 100 electric tricycles to power transportation in the Kano metropolis, as well as the conversion of diesel-engine ferries to electric power to improve the commute of individuals and businesses on Lagos’ waterways. The newly launched charging station adds another layer to the robust offerings.

Sterling has set itself apart as the first corporate organisation on the African continent to fully power up its offices with a renewable energy source by installing over 3000 Building Integrated Photovoltaic (BIPV) panels, generating 1 megawatt (1 MW) of electricity. This move will make the structure one of the largest on the continent, primarily powered by renewable energy, demonstrating the bank’s commitment to the growth and development of renewable energy in Nigeria.

Furthermore, the bank recently launched Imperium; an alternative energy solution, to power Nigerian homes and businesses through solar and renewable energy services tailored specifically for Nigeria’s peculiar energy needs.

Renowned for its now famous HEART of Sterling strategy; which focuses major investments in the Health, Education, Agriculture, Renewable Energy and Transportation sectors of the Nigerian economy, its irreverent brand voice and enviable talent management practices, the bank recently completed a major milestone towards the completion of its transformation into a financial holdings company with the relisting of its shares on the floor of the Nigerian Exchange (NGX).

The bank has maintained and increased momentum in 2023 with her citation as Africa’s Most Valuable Commercial Bank Brand for 2023 by the African Brand Magazine , in a poll conducted by GeoPoll and Kantar; two of the world’s leading brand research firms, a top three employer in Nigeria by LinkedIn in the social network’s annual Top 25 List, and most recently, one of the top 100 fastest growing companies in Africa by the prestigious Financial Times.

Lagos, Nigeria: Nigeria’s leading financial institution, Sterling Bank, in conjunction with the Africa Agriculture and Trade Investment Fund (AATIF), is set to promote environment-friendly agriculture businesses by lending the sum of $15 million to sustainable and renewable energypowered Agric enterprises.

The $15 million medium-term facility from the Africa Agriculture and Trade Investment Fund
extends our partnership with Sterling Bank, which started in 2019 with an initial vision to
support the growth of the bank’s agricultural activities. Since then, Sterling Bank and AATIF
have worked together on numerous projects, with the bank making commendable
contributions to the Nigerian agricultural sector. The extension of this partnership marks a new chapter in this fruitful relationship.

In a statement issued by the lender, Group Head for Agriculture and Solid Minerals Finance, Dr Olushola Obikanye, said the funding will further deepen Sterling’s agricultural investments in the agribusiness industry, promote sustainable practices, and encourage farmers to explore environment-friendly systems.

Also speaking on the funding, Sterling Bank’s Group Head for Energy, Dele Faseemo, said the fund will seek to increase Sterling’s funding for renewable energy installations in the agricultural sector and will positively impact lending in the sector as well as the Nigerian economy.

Ms Doris Koehn, chair of the AATIF Board of Directors, said of the deal, “When we first invested in Sterling Bank, we were keen to help actualize its impressive ambitions in growing its agricultural portfolio in Nigeria. Four and a half years later, we are proud to renew our
partnership with the Bank and are focused on further enabling its efforts towards serving local smallholder farmers.”

The Bank has become renowned as one of the key partners and lenders to the agricultural
sector, with over N100 billion, or approximately 13 percent of its lending portfolio, currently
financing agricultural businesses across Nigeria.

This, amongst other initiatives such as the Agriculture Summit Africa; the continent’s largest private sector-driven conference on the industry, and the Nigerian Farmers’ Radio; an educative radio programme promoting good agricultural practices aired in all geo-political zones of Nigeria, has endeared the bank to primary producers, aggregators, commodity processors, and exporters.
These initiatives recently saw Sterling awarded the best-participating bank by the Agric Credit Guarantee Scheme Fund.

Sterling has also innovated in the renewable energy space with the launch of Imperium, its
solution to power homes and businesses, and is currently in the final stages of deploying
Nigeria’s largest solar-powered solution for commercial property with the ongoing
transformation of its Lagos Marina headquarters.

The 18-storey building has been fitted with over 3,000 photovoltaic panels and will generate power from renewable sources
Agriculture and Renewable Energy form two of the five core pillars of Sterling’s now-famous
HEART strategy. With the remaining sectors being Health, Education and Transportation.