NEWS AGENCY OF NIGERIA
How Nigeria can reduce carbon emissions – SNEPCo MD  

How Nigeria can reduce carbon emissions – SNEPCo MD  

186 total views today

By Yusuf Yunus

Mrs Elohor Aiboni, the Managing Director of Shell Nigeria Exploration and Production Company Ltd. (SNEPCo), says  Nigeria needs to diversify its renewable energy portfoli to reduce carbon emissions from fossil fuel production.
Aiboni said this the 41st Annual International Conference and Exhibition of the National Association of Petroleum Explorationists (NAPE) on. Wednesday in Lagos.
According to her,  this shift towards renewables is crucial while also meeting the energy demands of a growing population.
Aiboni suggested that one way to achieve this is through encouraging Public-Private Partnerships in renewable energy.
The managing director said that this would address the challenges of high investment costs and limited access to financing.
She stressed that reducing carbon emissions from fossil fuels is a national endeavor that requires the collaboration and cooperation of individuals and corporate bodies.
As an example of private sector intervention in renewable energy, Aiboni mentioned All On, an impact investing company established by Shell in Nigeria in 2017.
According to her, All On has successfully provided over 75,000 energy connections in Nigeria through its investee companies, focusing on solar energy systems, solar assembly, cold storage, and mini-grids.
Aiboni also advocated for investments in lower-carbon energy sources, particularly the expansion of the natural gas portfolio and gas infrastructure projects including pipelines, processing facilities, and distribution networks.
These investments, she noted,  would enhance domestic gas supply, promote intra-regional trade and global exports, while also narrowing the energy access gap and mitigating the risk of stranded gas resources.
Regarding the role of technology in improving energy efficiency, Aiboni highlighted advancements such as artificial intelligence, robotics, proactive surveillance, and predictive analytics.
Aiboni noted that hese innovations had contributed to increased equipment runtime and reduced intermittent flaring.
 “Shell has successfully implemented these technologies in their operations, achieving a significant reduction in onshore flaring and nearly eliminating it in deepwater operations, surpassing a 50 per cent flare reduction overall, “she said.
Aiboni commended the National Association of Petroleum Explorationists (NAPE) for organising the five-day conference and expressed her hope that the discussions held during the event would contribute to delivering a sustainable energy future for Nigeria in the long run.

(NAN)

Edited by Olawunmi Ashafa

Nigeria’s inflation rate hits 27.33% in October– NBS

Nigeria’s inflation rate hits 27.33% in October– NBS

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By Okeoghene Akubuike

The National Bureau of Statistics (NBS) said Nigeria’s headline inflation rate increased to 27.33 per cent in October 2023. 

The NBS disclosed this in its Consumer Price Index (CPI) and Inflation Report for October, which was released in Abuja on Wednesday.

According to the report, the figure, which is 0.61 per cent points higher compared to 26.72 per cent recorded in September 2023.

It said on a year-on-year basis, the headline inflation rate in October was 6.24 per cent higher than the rate recorded in October 2022 at 21.09 per cent.

The report said the increase in the headline index for October 2023 on a year on year basis was attributed to the increase in some items in the basket of goods and services at the divisional level.

It said these increases were observed in food and non-alcoholic beverages at 14.16 per cent and housing, water, electricity, gas, and other fuel at 4.57 per cent.

Others were clothing and footwear at 2.09 per cent; transport at 1.78 per cent; furnishings, household equipment and maintenance at 1.37 per cent, education at 1.08 per cent, and health at 0.82 per cent.

It added, “Miscellaneous goods and services at 0.45 per cent; restaurant and hotels at 0.33 per cent; alcoholic beverage, tobacco and kola at 0.30 per cent; recreation and culture at 0.19 per cent, and communication at 0.19 per cent.”

In addition, the report said, on a month-on-month basis, the headline inflation rate in October 2023 was 1.73 per cent, which was 0.37 per cent lower than the rate recorded in September 2023 at 2.10 per cent.

It said, ”This means that in October 2023, the rate of increase in the average price level is less than the rate of increase in the average price level in September 2023.

It said the percentage change in the average CPI for the 12 months ending October 2023 over the average of the CPI for the previous corresponding 12-month period was 23.44 per cent.

“This indicates a 5.57 per cent increase compared to 17.86 per cent recorded in October 2022.”

The report said the food inflation rate in October increased to 31.52 per cent on a year-on-year basis, which was 7.80 per cent higher compared to the rate recorded in October 2022 at 23.72 per cent.

It added, “The rise in food inflation on a year on year basis is caused by increases in prices of oil and fats, bread and cereals, fish, potatoes, yams and other tubers, fruits, meat, vegetable, milk, cheese and eggs. ”

It said on a month-on-month basis, the food inflation rate in October was 1.91per cent, which was a 0.54 per cent drop compared to the rate recorded in September 2023 at 2.45 per cent.

The report added, “The decline in food inflation on a month-on-month basis was caused by a decrease in the average prices of fruits, oil and fats, coffee, tea and cocoa, bread and cereals. ”

It said the “All items less farm produce and energy’’ or core inflation, which excluded the prices of volatile agricultural produce and energy, stood at 22.58 per cent in October on a year-on-year basis.

“This increased by 5.12 per cent compared to 17.46 per cent recorded in October 2022.

“The exclusion of the PMS is due to the deregulation of the commodity by removal of subsidy,” the report continued.

It said the highest increases were recorded in prices of passenger transport by road, medical services, passenger transport by air, actual and imputed rentals for housing, pharmaceutical products etc.

The NBS said on a month-on-month basis, the core inflation rate was 1.39 per cent in October 2023.

The report added, “This indicates a 0.83 per cent drop compared to what was recorded in September 2023 at 2.22 per cent.

“The average 12-month annual inflation rate was 19.98 per cent for the 12 months ending October 2023, this was 4.60 per cent points higher than the 15.38 per cent recorded in October 2022.”

The report said on a year-on-year basis in October, the urban inflation rate was 29.29 per cent, which was 7.66 per cent higher compared to the 21.63 per cent recorded in October 2022.

It said, “On a month-on-month basis, the urban inflation rate was 1.81 per cent in October representing a 0.43 per cent decline compared to September 2023 at 2.24 per cent.

The report said on a year-on-year basis in October, the rural inflation rate was 25.58 per cent, which was 5.01 per cent higher compared to the 20.57 per cent recorded in October 2022.

“On a month-on-month basis, the rural inflation rate was 1.67 per cent, which decreased by 0.29 per cent compared to September 2023 at 1.96 per cent.’’

On states’ profile analysis, the report showed in October, all items inflation rate on a year-on-year basis was highest in Kogi at 34.20 per cent, followed by Rivers at 31.44 per cent, and Lagos at 31.33 per cent.

It, however, said the slowest rise in headline inflation on a year-on-year basis was recorded in Borno at 20.06 per cent, followed by Jigawa at 23.52 per cent, and Sokoto at 24.47 per cent.

The report, however, said in October 2023, all items inflation rate on a month-on-month basis was highest in Yobe at 3.72 per cent, Jigawa at 2.85 per cent, and Sokoto at 2.84 per cent.

“Kogi at 1.01 per cent, followed by Edo at 1.05 per cent and Kwara at 1.18 per cent recorded the slowest rise in month-on-month inflation.”

The report said on a year-on-year basis, food inflation was highest in Kogi at 41.74 per cent, followed by Kwara at 38.48 per cent, and Lagos at 37.37 per cent.

“Borno at 24.41 per cent, followed by Kebbi at 24.90 per cent and Jigawa at 25.10 per cent recorded the slowest rise in food inflation on a year-on-year basis,”it added.

The report, however, said on a month-on-month basis, food inflation was highest in Yobe at 5.35 per cent, followed by Sokoto at 3.68 per cent and Jigawa at 3.45 per cent.

It said, “With Edo at 0.95 per cent, followed by Katsina at 1.03 per cent and Rivers at 1.10 per cent recorded the slowest rise on month-on-month food inflation.’’ (NAN) (www.nannews.ng)

Edited by Dorcas Jonah/Bashir Rabe Mani

No more deadline for old Naira notes – CBN

No more deadline for old Naira notes – CBN

149 total views today

By Kadiri Abdulrahman

The Central Bank of Nigeria (CBN), says the old Naira banknotes will henceforth remain legal “ad infinitum ”.

CBN’s Director, Corporate Communications Department, Isa AbdulMumin, said this in a statement on Tuesday in Abuja.

The News Agency of Nigeria (NAN) recalls that the CBN had introduced redesigned N200, N500 and N1,000 denominations in October 2022.

The apex bank also set certain deadlines for legal tender status of the old design of the denominations to cease to exist.

However, in March, the Supreme Court extended the validity of the old N200, N500, and N1,000 till Dec. 31.

The President Sen. Bola Tinubu, during his inauguration on May 29, promised to revisit the Naira redesign policy.

According to Abdulmumin, without prejudice, the CBN wishes to inform the general public of its desire to extend the legal status deadline of the old design of N200, N500 and N1,000 denominations ad infinitum.

“This is in line with international best practices and to forestall a repeat of earlier experiences.

“Thus, all banknotes issued by the CBN, in accordance with Section 20 (5) of the CBN Act, will continue to remain legal tender, even beyond the Dec. 31 deadline,” he said.

The director assured that the CBN was working with relevant authorities to vacate certain subsisting judicial pronouncements on the subject.

He said that all CBN branches across the country would continue to issue and accept all old and redesigned denominations of Nigerian banknotes to and from Deposit Money Banks.

He enjoined the general public to accept all banknotes (old or redesigned) for day-to-day transactions.

He also urged Nigerians to handle the banknotes with utmost care to protect and safeguard their life cycle.

“Also, the general public is encouraged to embrace alternative modes of payment, e-channels, for their day-to-day transactions,” he said. (NAN)(www.nannews.ng)

Edited by Ese E. Eniola Williams

CAC secures SON’s quality service certificate

CAC secures SON’s quality service certificate

264 total views today

By Lucy Ogalue

The Corporate Affairs Commission (CAC) has secured the Standard Organisation of Nigeria (SON) ISO 9001:2015 recertification for another three-years.

The certificate is in recognition of the excellent services being rendered by the CAC, the Deputy Director, Budget, Planning, Research, and Statistics, Uzoma Oji, said on Tuesday in Abuja.

Oji who presented the certificate to the Registrar-General of CAC, Hussaini Magaji, said it would expire on July 29, 2026, and urged the commission not to derail in providing efficient services to the public.

He said: ”the milestone achievement follows the re-certification audit of the Commission’s Quality Management System (QMS) by the Standard Organisation of Nigeria (SON) in July.

“The certification is an attestation by the SON that the quality of services rendered by the Commission to her esteemed customers is in conformity with the requirements of the ISO 9001:2015 Standard.”

Receiving the certificate, the CAC’s Registrar-General thanked SON for the recognition and commended staff of the commission for their hard work and delivery of excellent services to customers. (NAN)(www.nannews.ng)

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Edited by Maharazu Ahmed

Barrow highlights Nigeria’s top-notch projects at AIF

Barrow highlights Nigeria’s top-notch projects at AIF

152 total views today

By Lucy Ogalue

The African Development Bank’s (AfDB) Nigeria Country Director-General, Lamin Barrow, has highlighted some key projects that Nigeria sought to promote at the just concluded African Investment Forum (AIF).

Barrow, in an interview with the News Agency of Nigeria (NAN), said Nigeria had a very strong participation at the 2023 AIF in Marrakesh, Morocco.

He said Nigeria presented not less than six projects on the boardroom for consideration during the meetings.

“These projects range from oil and gas in the pipe line in Nigeria and Morocco. There is the industrial park project in Kaduna and urban development Project in Abuja.

“We have the cancer hospital to be located in different locations in Nigeria and rehabilitation and refurbishment of five major airports including the Abuja Airport.

“This is in terms of equipment, infrastructure, safety and facilities in these airports presented by the FAAN among others; And they enlisted quite some interest in terms of investment.

“So, Nigeria, we are very happy for the strong participation and the level of interest expressed for these projects.” he said.

According to Barrow, the Forum provides a transaction oriented platform where sponsors come, present and pitch their deals and prospective financiers and investors are manifested or confirm their interest.

“And then from there, we take it forward in terms of advancing the documentation and discussion to move towards bankability and also to reach financial close.

“So, depending on where each and every project is, there is usually some follow up work to be done.

“So we expect that the engagement will be strengthened and will move fast to be able to complete the feasibility studies or related documentation that needs to be done.

“Due diligence work, prospective financiers will help reach financial close for most of these projects. And most of them are actually non sovereign or private sector oriented transactions,” he said.

Meanwhile, Dr Akinwunmi Adesina, AfDB’s President, said big ticket deals were considered in food and agriculture and renewable energy and transportation at the AIF.

According to him, other sectors captured at the event are mining, creative industry, ICT, Artificial Intelligence, deep sea seaports, railways, health and special agro industrial processing zones (SAPZs).

Adesina said AfDB was building a formidable power house for investment in Africa through the investment forum which began over five years.

While reiterating some of the projects deliberated upon at the AIF, he said the bank was working at dissuading the ‘japa’ syndrome by youths on the continent.

Earlier, the Director-General of AIF, Miss Chinelo Anohu said the AIF was fully transactional focused at letting Africans know that no one could solve our problems but ourselves.

“We have seen from the words of His majesty King Mohammed VI that Africans must trust Africans to solve their problems ,” she quoted the Moroccan King as saying.

NAN reports that the three-day AIF which began on Nov. 8, ended on Nov. 10 with a renewed hope towards changing the narrative for youths on the continent. (NAN)(www.nannews.ng)

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Edited by Ese E. Eniola Williams

Corporate governance”ll unlock agric, blue economy potential, says CIoD

Corporate governance”ll unlock agric, blue economy potential, says CIoD

272 total views today

By Rukayat Moisemhe

The Chartered Institute of Directors (CIoD) has stressed the need for good corporate governance to unlock the potential in agriculture, solid minerals and the blue economy to diversify the economic landscape.

The President of CIoD, Alhaji Tijjani Borodo, said this during a news conference on Monday in Lagos to announce the institute’s upcoming 2023 Annual Directors’ Conference (ADC) at Transcorp Hotel, Abuja.

The CIoD president stated that the event scheduled for Nov. 16 to 17 with the theme: “Driving Nigeria’s Economic Transformation and Diversification: The Role of Corporate Governance,” would be a gathering of over 500 directors.

He said the reason for the theme was in the light of what the economy was currently going through and the plan as an institute to drive the transformation to support the transformation agenda of the presidency.

He noted that the institute; a thought leader in the advocacy for the entrenchment of good corporate governance in Nigeria, was commitment to entrenching global best practices in the governance of companies and institutions in Nigeria.

“We have and will continue to actively engage with all the necessary stakeholders, both in the public and private sectors of the economy, through our numerous advocacy platforms.

“A major one, amongst these platforms, the Annual Directors’ Conference (ADC) stands out as a pivotal avenue.

“This flagship event forms the core of the institute’s advocacy engagement series, uniting stakeholders from private, public, and not-for-profit sectors to deliberate on crucial issues concerning leadership, ethics, the economy, and business, among others.

“I am optimistic that the presentations and discussions during this year’s conference will serve as a platform for stakeholders across various sectors of the Nigerian economy to foster a deeper commitment to corporate governance best practices.

“We anticipate a positive ripple effect across all sectors, nurturing a better appreciation of the roles played by corporate governance in driving Nigeria’s economic diversification and transformation,” he said.

Fourth from left, Alhaji Tijjani Borodo, President, Chartered Institute of Directors (CIoD), with other executive members of the institute
Fourth from left, Alhaji Tijjani Borodo, President, Chartered Institute of Directors (CIoD), with other executive members of the institute

The Chairman, National Organising Committee, 2023 ADC, Mrs Fatumata Coker, noted that the role of corporate governance in driving Nigeria’s economic transformation cannot be overemphasised.

According to her, corporate governance plays a pivotal role in steering the economy towards sustainability and efficient practices, facilitating the adaptation of ethical principles and transformation.

Coker said the forthcoming conference would not only strengthen governance across all sectors of the Nigerian economy, but set a new trajectory of governance to drive economic growth in 2024.

She said the hybrid event would be declared open by President Bola Tinubu, while the Chairman of the Opening Session would be Dr Ernest Ndukwe, Chairman, MTN Communications Plc.

“Dr Olusegun Aganga, Chairman, Leadway Pension would deliver the key note address, while other notable include Minister of Industry, Trade and Investment, Dr Doris Uzoka-Anite, Minister of Finance, Mr Wale Edun, and Minister of Education, Professor Tahir Mamman.

“The two-day event will be structured into four plenary sessions, each focusing on sub-themes such as: “How Governance Reforms in the Nigeria Energy Sector Can Help Deliver a New Nigeria”, “Significance of Corporate Governance in Nigeria’s Digital Transformation”.

“Others are Optimising Demand-Driven Talents in Nigeria” and “Agriculture, Solid Minerals, and Blue Economy as Drivers of National Economic Transformation.”

“This year’s conference aims to attract industry leaders critical to the conference’s focus and fostering discussions and engagements.

“It is tailored to appeal to young directors, entrepreneurs, and millennials, offering them mentorship, networking opportunities, and a platform for expanding their knowledge in corporate governance,” she said.

Coker added that the 2023 ADC “Business meet Government dinner” would have Mr Nyesom Wike, Minister of the Federal Capital Territory as the guest of honour and Hon. Tajudeen Abbas, Speaker of the Federal House of Representatives as the special guest of honour. (NAN)(www.nannews.ng)

=============
Edited by Chinyere Joel-Nwokeoma

Corporate governance”ll unlock agric, blue economy potential, says CIoD

Corporate governance”ll unlock agric, blue economy potential, says CIoD

178 total views today

By Rukayat Moisemhe

The Chartered Institute of Directors (CIoD) has stressed the need for good corporate governance to unlock the potential in agriculture, solid minerals and the blue economy to diversify the economic landscape.

The President of CIoD, Alhaji Tijjani Borodo, said this during a news conference on Monday in Lagos to announce the institute’s upcoming 2023 Annual Directors’ Conference (ADC) at Transcorp Hotel, Abuja.

The CIoD president stated that the event scheduled for Nov. 16 to 17 with the theme: “Driving Nigeria’s Economic Transformation and Diversification: The Role of Corporate Governance,” would be a gathering of over 500 directors.

He said the reason for the theme was in the light of what the economy was currently going through and the plan as an institute to drive the transformation to support the transformation agenda of the presidency.

He noted that the institute; a thought leader in the advocacy for the entrenchment of good corporate governance in Nigeria, was commitment to entrenching global best practices in the governance of companies and institutions in Nigeria.

“We have and will continue to actively engage with all the necessary stakeholders, both in the public and private sectors of the economy, through our numerous advocacy platforms.

“A major one, amongst these platforms, the Annual Directors’ Conference (ADC) stands out as a pivotal avenue.

“This flagship event forms the core of the institute’s advocacy engagement series, uniting stakeholders from private, public, and not-for-profit sectors to deliberate on crucial issues concerning leadership, ethics, the economy, and business, among others.

“I am optimistic that the presentations and discussions during this year’s conference will serve as a platform for stakeholders across various sectors of the Nigerian economy to foster a deeper commitment to corporate governance best practices.

“We anticipate a positive ripple effect across all sectors, nurturing a better appreciation of the roles played by corporate governance in driving Nigeria’s economic diversification and transformation,” he said.

The Chairman, National Organising Committee, 2023 ADC, Mrs Fatumata Coker, noted that the role of corporate governance in driving Nigeria’s economic transformation cannot be overemphasised.

According to her, corporate governance plays a pivotal role in steering the economy towards sustainability and efficient practices, facilitating the adaptation of ethical principles and transformation.

Coker said the forthcoming conference would not only strengthen governance across all sectors of the Nigerian economy, but set a new trajectory of governance to drive economic growth in 2024.

She said the hybrid event would be declared open by President Bola Tinubu, while the Chairman of the Opening Session would be Dr Ernest Ndukwe, Chairman, MTN Communications Plc.

“Dr Olusegun Aganga, Chairman, Leadway Pension would deliver the key note address, while other notable include Minister of Industry, Trade and Investment, Dr Doris Uzoka-Anite, Minister of Finance, Mr Wale Edun, and Minister of Education, Professor Tahir Mamman.

“The two-day event will be structured into four plenary sessions, each focusing on sub-themes such as: “How Governance Reforms in the Nigeria Energy Sector Can Help Deliver a New Nigeria”, “Significance of Corporate Governance in Nigeria’s Digital Transformation”.

“Others are Optimising Demand-Driven Talents in Nigeria” and “Agriculture, Solid Minerals, and Blue Economy as Drivers of National Economic Transformation.”

“This year’s conference aims to attract industry leaders critical to the conference’s focus and fostering discussions and engagements.

“It is tailored to appeal to young directors, entrepreneurs, and millennials, offering them mentorship, networking opportunities, and a platform for expanding their knowledge in corporate governance,” she said.

Coker added that the 2023 ADC “Business meet Government dinner” would have Mr Nyesom Wike, Minister of the Federal Capital Territory as the guest of honour and Hon. Tajudeen Abbas, Speaker of the Federal House of Representatives as the special guest of honour. (NAN)(www.nannews.ng)

 

Edited by Chinyere Joel-Nwokeoma

Afreximbank, UBA  sign 0m  trade facility agreement 

Afreximbank, UBA sign $150m  trade facility agreement 

217 total views today

 

By Okeoghene Akubuike

The Afreximbank has signed a 150 million dollar trade finance facility agreement with United Bank for Africa (UBA) PLC, under the Ukraine Crisis Adjustment Trade Financing Programme for Africa.

The News Agency of Nigeria(NAN) reports that the agreement was signed on the sidelines of the ongoing Intra-African Trade Fair (IATF) 2023 in Cairo, Egypt on Monday.

According to Afreximbank, the facility, strategically crafted to mitigate the adverse effects of the Russia-Ukraine crisis, aims to support UBA’s clients to increase their financing for businesses across various sectors in the Nigerian economy.

The agreement was signed by Denys Denya, Executive Vice-President, Finance, Administration Banking Services, Afreximbank, and Oliver Alawuba, Managing Director of UBA PLC.

 

 

NAN reports that according to Afreximbank , the facility is expected to enhance confidence in the settlement of international trade transactions for strategic imports.

UBA’s Group Managing Director/Chief Executive Officer, Oliver Alawuba, said: “This facility will further boost our quest to deepen intra-Africa trade which has been severely constrained by the impact of the war in Ukraine.

“We have a long-standing beneficial relationship with Afreximbank, we are delighted of our partnership as we jointly envision better dealings for our customers,” he said.

“The funding is driven by an increased demand for trade finance support to UBA’s clients which will enhance confidence in the settlement of international trade transactions for strategic imports such as food, medications, and agro products.

“This is crucial to Afreximbank’s mandate as it supports small and medium-sized enterprises, particularly those in the manufacturing sector to increase production thereby supporting economic growth and development in Nigeria,” Afreximbank said. (NAN)(www.nannews.ng)

 

Edited by Vivian Ihechu

New technical adviser to Petroleum Minister receives accolades from British firm

New technical adviser to Petroleum Minister receives accolades from British firm

283 total views today

By Abigael Joshua

A UK firm, TEXEM, has described the appointment of Mr Abel Igheghe as the Technical Adviser (Downstream) to the Minister of State for Petroleum Resources (Gas) as putting a round peg in a round hole.

TEXEM stated this in a statement on its website (www.texem.co.uk) by the Director Special Projects Caroline Lucas

Lucas said that the appointment exemplifies Igheghe’s extraordinary skills and unwavering commitment to the Nigerian petroleum sector.

He said that as a graduate of Mechanical Engineering from the University of Benin in 2000, Igheghe’s journey was a tapestry of excellence.

“From his role as Head of Gas at the Department of Petroleum Resources (DPR), Lagos Zonal Office, to his impactful initiatives as Chief Mechanical Engineer.

“He has been championing excellence in the implementation of regulations and providing guidance for the oil and gas industry in Lagos, his trajectory is marked by significant milestones.

“Mr Abel Igheghe, an alumnus of the TEXEM October 2022 executive development programme on “Strategic Leadership for Optimised Organisational Performance,” embodies the power of continuous learning,” the director said.

Lucas said that this investment in strategic acumen possibly paved the way for Igheghe’s elevation to the role of Technical Adviser.

In the statement, Dr. Alim Abubakre, TEXEM’s founder also praised the new appointee.

“Mr. Igheghe’s appointment isn’t just recognition; it’s a call to action for even greater milestones in the future.

“This appointment reflects the collective belief that Mr. Igheghe will contribute to development of policy that will propel the Nigerian Petroleum sector to unprecedented heights.

“Embarking on his career in 2003 as Deputy Manager at the Department of Petroleum Resources (DPR), Mr. Igheghe’s journey is a testament to dedication and expertise,” Abubakre said.

He added that Igheghe’s
role as Manager Operations at the Nigeria Midstream and Downstream Regulatory Authority in 2022 showcased his versatility in navigating the complex petroleum industry landscape.

While congratulating Igheghe, Abubakre expressed confidence that his leadership will illuminate the path to a brighter future for the Nigerian petroleum sector.

“May his accomplishments inspire others to aspire to greatness, leaving enduring legacies in technical expertise and leadership,” he said. (NAN) (www.nannews.ng)

========
Edited by Razak Owolabi

Climate Change: Denmark, Nigeria collaborate on green energy

204 total views today

 

Denmark Minister for Development Cooperation and Global Climate Policy, Mr Dan Jorgensen
Denmark Minister for Development Cooperation and Global Climate Policy, Mr Dan Jorgensen

By Salisu Sani-Idris

The Kingdom of Denmark and the Federal government have agreed to strengthen collaboration towards ensuring the success of green energy transition in Nigeria.

The Denmark Minister for Development Cooperation and Global Climate Policy, Mr Dan Jorgensen, made this known in an interview with newsmen, shortly after a meeting with the Vice President Kashim Shettima.

The News Agency of Nigeria (NAN) reports that the meeting held at the Presidential Villa, Abuja, on Monday.

He said Nigeria had a huge potential in solar energy which was very cheaper and reliable.

” So I will say that we need to do this for the climate yes but even if there is no such climate change, still this will be the sensible thing to do for economic reasons.

” And to make sure that as many people as possible have access to clean affordable energy. Because in my opinion it is human rights that you can have electricity or energy in your home.”

Jorgensen, who commended the bold step taken by the President Bola Tinubu’s administration to reposition Nigeria, said there was a great opportunity for a collaboration between the two countries.

” There is no doubt that Nigeria has embarked on a very ambitious traveled. The new administration has put forward some very bold and visionary plans for the future.

” And I think there is a great opportunity for a collaboration between Denmark and Nigeria.

”We are all ready, collaborating and we are already friends but we can work even closer together, especially on the success of green transition.

” We all know we need to do more to fight climate change certainly that is obvious in Africa and Nigeria climate change is already evident. But it will be even more so in the future.”

The minister said that Denmark had changed its energy system from the Oil, Gas and Coal to using renewables and deployment of energy efficiency measures.

According to him, Denmark is a country with lots of experience in the renewable energy system.

” We have changed our energy system so that we move away from the Oil and Gas and coal and instead use renewables and deploying energy efficiency measures.

” When we started our energy transition in Denmark, we didn’t do it because of climate change or even the environment because that was back in the 1970s, it was not on the agenda then.

” We did it for another reason, we wanted to become independent. We wanted to make the most rational decision from the economic standpoint.

” What has shown in Denmark obviously is different from country to country but we can differently share our own experience.” (NAN)(www.nannews.ng)

Edited by Ekemini Ladejobi

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