Business

Decarbonisation pathway to attaining energy transition — FG

Published

1 year ago

November 21, 2022

By Gloria Akudoro, Abuja

Determined to be part of global energy transition, the Federal Government has revealed that decarbonization is the pathway to achieving energy transition that will guarantee the people affordable and reliable energy supply.

Vice President Yemi Osinbajo stated this while declaring open the 3-Day 31st National Conference and Annual General Meeting of the Nigerian Environmental Society held over the weekend at NAF Conference Centre, Abuja.

Speaking on the theme, “Balancing Climate Action, Energy Security and UN Sustainable Development Goals,” he said a transition that is just is one that acknowledges Nigeria’s enormous energy needs and promote clean energy as well as universal energy access and energy security.

“To ensure we leave no one behind, there is a need to adopt energy transition pathways that prioritise eliminating energy poverty by 2030. We need a large-scale energy supply capable of powering industrialisation, driving growth and ending climate issues associated with highly polluting diesel, firewood, charcoal and kerosene use.

“If we have learnt anything from Europe’s current energy crisis, it is that energy security is paramount in a nation’s energy transition journey. We cannot afford to separate climate and energy access issues. Our solutions must intersect to tackle energy poverty and climate change,” he emphasised.

The Vice President who was represented by the Special Adviser to the President on Economic Matters, Ambassador (Dr) Adeyemi Dipeolu, Osinbajo said the government is commited to an economy that is globally competitive, capable of powering new jobs, eradicating poverty and improving our income levels.

“ To this end we are striving to meet the 2060 net- zero target and Paris Agreement on global energy ,”he stated.

“We have developed the Energy Transition Plan in line with the targets of Sustainable Development Goal 13. Our Plan incorporates climate action measures into energy planning strategies and policies. In our long-term 2060 target, we project that over 70 per cent, about 197 gigawatts of our total grid generation capacity will be provided by solar energy.

“We will also plan to add 34 gigawatts of hydrogen, and 90 gigawatts of energy storage capacity. We also plan to upgrade our existing transmission and distribution infrastructure, reduce reliance on dirty diesel generators and end gas flaring by capturing gas for productive uses. However, in the short to medium term, we need to take a balanced approach that incorporates a range of energy sources to ensure an abundant, affordable and reliable energy supply, which is essential to the development of a modern economy,” he added.

He further stressed the importance of natural gas that will not only meet the short-term energy needs but also accelerate economic development as well as supporting people’s health and livelihoods. He added it is a key resource for industry, fertilizer manufacturing, and cooking sectors which are more difficult to transition than power generation.

“It is also essential in providing the energy security needed to transition to cleaner energy sources in the long term.”

The Vice President, also stated that development of infrastructure is the pathway to eliminating emissions from the use of firewood, charcoal and kerosene to provide every household with cleaner cooking options, including liquefied petroleum gas (LPG) and biogas. This he said will also be beneficial as we transition to hydrogen.

Also speaking, the Minister of Environment, Barrister Mohammed Abdullahi, represented by the Deputy Director, Department of Climate Change, Victoria Pwol, expressed hope of the aftermath impact of the conference, said series of climate action programs have been initiated by the FG as well as policies implemented to mitigate problems of climate change. Adding that a lot awareness has been created and still ongoing towards reducing the threats.

Delivering his opening remark, the Chairman, Caretaker Committee/Interim President, Nigerian Environment Society – NES, Mr Victor Imevbore said over 400 members both within and outside Nigeria are committed to advocacy and action towards environmental protection, sustainable development and the promotion of environmental professionalism within the country and by extension to global arena.

He said in light of energy insecurity and its implications for hunger eradication, poverty elimination and real human development in developing nations, the conference aims to examine the realities, alignments and contradictions in the global action to limit global warming relative to a pre-industrial baseline and to spotlight climate justice, the role of fossil fuels in resource rich countries, migration and conflict.

Imevbore also revealed that the caretaker committee has in the past one year focused on consolidating on the activities of past executives and expanding the society’s visibility and relevance through a 7-point agenda which includes enhancement of the NES brand, improved internal governmance, local and international collaborative efforts, operational efficiencies as well as promotion of professionalism.

Whilst reminder to all that the responsibility for national and international action towards sustainability is a collective effort, he stressed on the devastating impact of the flooding that has rampaged different parts of the country in the past two months brought to bare extreme weather events that exposed poverty related vulnerabilities and a reminder of the country’s mutually reinforcing environmental problems such as pollution, wide-spread deforestation, desertification, poorly planned cities, coastal erosion, loss of social cohesion, unsustainable use of other natural resources among others.

“These problems are exacerbated by impunity in our society and inaction of key stakeholders. The situation calls for urgent collective efforts to curb population growth if we are to avert irreversible exceedance of our ecosystem’s carrying capacity.

“Other areas that require urgent and sustained action are improved and exemplary governmance performance, veritable measures by corperate organizations to entrench sustainability in their operations, environmental education of law enforcement agents including judges/government security forces, incorporating sustainability into our educational curriculum from primary level, better multi-sector collaboration and establishing a certified pool of experienced and reliable environmental practitioners,” he added.

Meanwhile, the British High Commissioner to Nigeria, Catriona who spoke on the terrible consequences resulting from the Russia-Ukraine conflict, expressed that the collaboration between nations is the only way to tackle the threat not only of climate change but also how it can be reconciled with energy security and energy abundance at affordable prices for everyone.

However, the event witnessed presence of distinguished personalities in the persons of Prof. Ekanem Braide, Chairperson of the Occasion, representative of CEO, Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA); Francis Ogaree, ED, Hydrocarbon Processing Plants, Installation and Transportation Infrastructure and traditional rulers who also spoke on the theme and pledged commitment towards supporting the society on sustainability development and environmental protection.

Highlights of the conference include NES Fellowship Conferment Award on professionals who have made notable contributions towards sustainability in their spheres of influence, training on carbon finance opportunities for industry and practitioners as well as excursion to FCT Water Board, Lower Usuma Dam and Children park/zoo Asokoro.

Business

AfDB, GGBI partner to strengthen Africa’s green bond market

Published

2 days ago

December 2, 2023

NewsDirect

The African Development Bank (AfDB) Group, has signed a declaration with the coalition of development finance institutions to promote green bond markets in Africa.

AfDB’s Group Vice President and Chief Financial Officer, Ms Hassatou N’Sele, said this in a statement issued on the bank’s website.

The News Agency of Nigeria (NAN) reports that Africa’s engagement in the green bond market currently represents less than one per cent of the more than 2.2 trillion dollar community green bond issued in 2022.

N’Sele said the institutions in the Global Green Bond Initiative (GGBI) comprised the European Investment Bank, European Bank for Reconstruction and Development, and Italy’s Cassa Depositi e Prestiti.

Others are the Spanish Agency for International Development Cooperation, Green Climate Fund and Germany’s KfW development bank, while PROPARCO of the AFD Group act as consortium of European development finance institutions.

The AfDB’s chief financial officer signed the declaration with representatives of the coalitions’ institutions on the sidelines of the 2023 UN Climate Change Conference (COP28) in Dubai, United Arab Emirates.

N’Sele said the engagement was to tap from the Global Green Bond Initiative technical assistance programme announced by European Commission President Ursula von der Leyen in June 2023.

”The Initiative will help private capital flow from institutional investors into climate and environmental projects in EU partner countries, increasing their access to capital.

”Providing technical assistance to green bond issuers in emerging markets and developing economies (EMDEs), and crowding in private investors through a dedicated de-risked fund.

”This will act as an anchor investor in green bonds issued in EMDEs.

“The anticipated impact can be up to 15-20 billion euro in green investments,” she said.

N’Sele said the partners supported the origination of green bonds, development and identification of pipelines of green projects, and the development of credible and coherent green bond frameworks.

“This joint declaration among us to collaborate on technical assistance on green bonds in Africa is our commitment to work together and it is significant and impactful.

”There cannot be impactful development in Africa without vibrant local capital markets,” the AfDB official said.

N’Sele highlighted the AfDB’s engagements in the green bond market, including issuing over 10 billion dollar worth of green and social bbondsin 2022 to support sustainable progress across Africa.

“Let’s help Africa fully leverage the power of green bonds, and we can contribute together towards a sustainable future for Africans,” she said.

Mr Stefano Signore of the European Commission’s partnerships directorate, described the partnership with the AfDB as an important milestone in efforts to mobilise green bonds in emerging developing economies.

Also, representative of the Spanish Agency for International Development Cooperation (AECID) expressed hope that the partnership would contribute to the intensification of climate and environmentally relevant projects.

”We hope to also contribute to pipelines that can set off the mobilisation of the global green bond initiative.”

Business

NIS opens passport office in Ikorodu

Published

2 days ago

December 2, 2023

NewsDirect

The Comptroller- General of Nigeria Immigration Service(CGI), Mrs Caroline Adepoju ,on Friday assured Nigerians that they would get their passports within three weeks of submitting their applications.

Adepoju gave the assurance while inaugurating a new passport office in Igbogbo community in Ikorodu, Lagos State .

Adepoju said passports would now be processed and issued speedily provided applicants submit all the required details in their applications.

She advised the public to ensure that they renew their passports six months before its expiration to avoid problems while applying for visa to some countries.

Adepoju thanked the people of Igbogbo for their support and for providing all that was needed to start operation in the area.

“I thank the traditional ruler and the people of Igbogbo for their support and for ensuring the realisation of this project.

“This is my first assignment after my confirmation as the substantive Controller General of Nigeria Immigration Service.

“I want to advise the public to ensure they renew their passport six months before expiration to avoid being denied visa by some countries,” she said.

Speaking, Gov. Babajide Sanwoolu said the establishment of the passport office in Igbogbo would improve service delivery i to Nigerians and save the people of Igbogbo and environs the stress of traveling far to obtain tbeir passports..

Sanwoolu, represented by Mr Ibrahim Layode, Commussioner for Home Affairs, said the role of Immigration in any country could not be over- emphasised.

He said that the establishment of the passport front office in Igbogbo was a testament to Federal Government’s commitment to providing world -class immigration services in line with global standard.

Also speaking, the council Chairman of Igbogbo Baiyeku Local Counvil Development Area(LCDA) Mr Olusesan Daini, urged the CGI to consider expanding operations at the new passport front office .

Daini said the council would synergise with NIS to ensure the edifice was maintained.

“We will also improve our security architecture to ensure the office is secure.”he said.

He said that the new passport office was a welcome development as residents would no longer have to travel far to obtain or renew their passports.

“The establishment of this passport front office in Igbogbo will improve commercial activities.

“The council will also improve its security architecture to provide adequate security in the area,” he said.

Adeboruwa of Igbogbo, Oba Orimadegun Kasali ,who spoke on behalf of all the traditional rulers in Ikorodu Division , said he was very happy that the passport front office was established in his domain.

He added that it would go a long way in improving commercial activities in the area.

Adeboruwa commended all those who facilitated the establishment of the passport office in the community.

“I cannot say how happy I am today, infact ,this office will put Igbogbo community in world map.

” I appreciate everybody that has contributed in one way or the other to make this a success,especially the family that donated the land .

“I am glad that Igbogbo passport office has come to stay,” he said.

Business

Nigeria, Germany sign Siemens power project accelerated implementation agreement

Published

2 days ago

December 2, 2023

NewsDirect

President Bola Tinubu and German Chancellor Olaf Scholz were witnesses to the signing of an accelerated performance agreement in Dubai on the Siemens power project in Nigeria.

The agreement was signed on the side-line of the on-going 2023 United Nations Climate Change Conference, COP28 by Mr Kenny Anuwe, Managing Director of FGN Power Company on behalf of Nigeria.

Ms Nadja Haakansson, Siemens Energy’s Senior Vice-President and Managing Director for Africa signed on behalf of the German company.

Speaking after signing the agreement, Anuwe highlighted Siemens Energy’s effective delivery of crucial equipment worth more than 63 million Euros to Nigeria since the commencement of the project.

This includes 10 units of 132/33KV mobile substations; three units of 75/100MVA transformers, and seven units of 60/66MVA transformers, currently being installed by FGN Power Company at various sites.

The Dubai agreement was signed to expedite the implementation of the Presidential Power Initiative (PPI) to improve Nigeria’s electricity supply.

The PPI, formerly known as the Nigeria Electrification Roadmap Initiative, was the outcome of the visit by former German Chancellor Angela Merkel to Abuja in August 2018.

An agreement was signed between the governments of Nigeria and Germany in 2019 to improve Nigeria’s power sector.

Special Adviser to the President on Media and Publicity, Chief Ajuri Ngelale, stated on Friday in Abuja that since assumption of office, Tinubu had advocated the accelerated realisation and expansion of the PPI.

To achieve this, the project has been a major focal point in three rounds of bilateral discussions at meetings between President Tinubu and the German Chancellor in New Delhi, in Abuja and in Berlin.

The Dubai agreement will facilitate the modernisation and expansion of Nigeria’s electric power transmission grid with full supply, delivery and installation of Siemens-manufactured equipment within 18 to 24 months, Ajuri stated.

It will ensure project sustainability and maintenance with full technology transfer and training of Nigerian engineers at the Transmission Company of Nigeria (TCN), he added.

The project will also focus on identified load demand centres with particular emphasis on economic and industrial hubs nationwide and the execution of new 330kV and 132/33KV substations in target load centres with economic priority.

These are in addition to thousands of kilometres of overhead transmission lines to connect new substations with existing ones, Ajuri also stated.