ONTSHA Chamber of Commerce, Industry, Mines and Agriculture (ONICCIMA) has urged Gov. Chukwuma Soludo to explain details of the Memorandum of Understanding (MoU), on 24 hours power supply in Anambra.
On March 25, Soludo signed an MoU between the state government and Enugu Electricity Distribution Company (EEDC), to ensure that power supply in the state was available 24 hours a day and seven days a week.
The chamber’s President, Chief Kevin Obieri, called for the clarification in a statement made available to newsmen on Monday.
Obieri stated that the chamber was concerned that there was no detailed information regarding the MoU and its broad implications for the business community in Onitsha and the entire state.
He lamented that there was no information on when the partnership would commence and whether the projections were in a month, a year’s time or towards the end of the administration’s tenure.
“While the chamber continues to support Gov. Soludo’s developmental strides in the state, we strongly feel that the government should do well to sensitise the business community to the MoU.
“Beyond payment of bills by users, are there other cost implications? If any, will the cost be borne by the state or wholly transferred to the public or subsidised?
“If the cost is to be borne by the state, what are the implications to the state’s finances, especially as the nation is currently grappling with record inflation?
“With a struggling economy, businesses trying to stay afloat and people living on a knife’s edge, it will help that people are aware of the full details of the MoU, so that necessary adjustments can be made, ” he said.
Obieri stated that as of March 21, the total National Power Generation was 4,670 megawatts out of which 365 megawatts was assigned to EEDC which provides distribution for the whole of the Southeast.
“The obvious question then is, how feasible is the provision of 24/7 electricity when the allocation to EEDC is quite minute to satisfy the whole of Southeast?
“Even experts have insisted that Southeast requires a minimum of 10,000 megawatts of electricity for a steady power supply.
“More critical is that EEDC is only a distribution company, not a generation company and can only distribute what is released to it by the GENCOS.
“They cannot control or guarantee a 24/7 power supply. These are many questions begging for answers here,” he said.
The Chamber’s President said that a steady electricity supply in Anambra was the single most critical factor to kick-start and galvanize the much publicised industrialisation of the state.
According to him, steady electricity will transform the economic equation of businesses and boost the disposable income of the citizenry while propelling the revenue generation capacity of the state.
“This is why every pronouncement regarding achieving this laudable aim must be well considered while any impediment to the realisation of this objective must be addressed quickly.
“To this end, the business community as well as the general public await to hear a well-articulated process-flow and details of the MoU signed on their behalf to dispell needless speculations and rumours.
“We hope that the state government, through the relevant ministries, will expand its sensitisation and awareness campaign on this critical agreement, “Obieri stated
FG to deploy 100 electric buses
President Bola Tinubu has said Nigeria is taking a significant step towards a sustainable and eco-friendly future by introducing a pioneering initiative to deploy a fleet of 100 electric buses.
The President spoke at a high-level meeting with stakeholders and investors on the Nigeria Carbon Market and Electric Buses Rollout Programme on Saturday in Dubai, United Arab Emirates, on the margins of the COP28 climate summit.
President Tinubu explained that the strategic initiative is aimed at significantly reducing Nigeria’s carbon footprint and modernizing the country’s transportation systems as part of a larger effort to position Nigeria and Africa as the pioneering frontier of green manufacturing and industrialization with a focus on natural gas as a transition fuel alongside other renewable energy sources.
To spearhead this transformative plan, the President announced the appointment of the Executive Chairman of the Federal Inland Revenue Service (FIRS), Mr. Zacch Adedeji, and the Director-General of the National Council on Climate Change (NCCC), Mr. Dahiru Salisu, to co-chair the Nigeria Carbon Market Activation Plan.
”This initiative stands as a testament to our dedication to environmental stewardship as clearly exemplified through our collaboration with the Africa Carbon Market Initiative. Our visionary plan is a strategic guidepost, directing Nigeria towards becoming an investment-friendly destination for carbon market investments.
”We recognize the imperative of fostering an environment that not only attracts investment but also upholds standardized and sustainable industrial practices. As a manifestation of our forward-thinking approach, we are actively looking to implement robust, enabling policies and frameworks that will serve as the catalyst for the burgeoning growth of the carbon market within our national borders.
”In further driving my commitment, I have recently approved an Inter-governmental Committee on Carbon Markets to be chaired by the Executive Chairman of the Federal Inland Revenue Service and the Director-General of the National Council on Climate Change to drive this visionary plan,” the President stated.
The President assured prospective investors that this initiative transcends being a mere pilot project.
”It is a concrete manifestation of our unwavering dedication to a carbon-neutral future. I assure you; this is only the commencement of our ambitious plans, with many more impactful initiatives on the horizon,” he said.
President Tinubu, while acknowledging the pressing need for a comprehensive global collaboration on climate-related challenges, called on global partners to join hands in accelerating collective efforts towards a net-zero future.
”As we unveil our initiatives, I challenge other nations to emulate our strides in mapping out their sustainable futures with a clear understanding that Africa is a beacon of innovative solutions to climate-related challenges.
”In this pursuit, we acknowledge the pressing need for comprehensive global collaboration, and we reiterate our commitment to being an active participant in international efforts.
”Nigeria’s plans for a greener and cleaner economy can serve as an inspirational narrative for nations worldwide. Our comprehensive approach, rooted in visionary leadership and pragmatic action supported by our technical partners, is poised to become a blueprint for countries aspiring to also develop and catalyze their markets for sustainable growth,” the President concluded.
In his remarks, FIRS Chairman, Mr. Zacch Adedeji acknowledged the visionary leadership of President Tinubu as the guiding force behind Nigeria’s commitment to harnessing its vast carbon potential.
At COP28, Sanwo-Olu seeks funding to address supply of clean water in Lagos
Governor of Lagos Babajide Sanwo-Olu has sought global support for funding in Lagos state to be able to provide clean water.
The Governor speaking at a side meeting with the theme: “Valuing Water: A Lifeline in Climate Transition”, organised by Business and Philanthropy Climate Forum and Sustainable Market Initiative at the ongoing 28th session of Conference of Parties (COP28) at Dubai Exhibition Centre pitched a sustainable funding proposal in order to raise private and philanthropic funding in addressing inadequate water infrastructure and supply shortages in Lagos.
Sanwo-Olu disclosed that Lagos, with 22 million population, has a daily demand of 700 million gallons of portable water, but said the State could hardly supply 210 million gallons per day due to shortage of infrastructure.
The Governor said, although provision of clean water had been generally considered a social service, it was an essential element of economic necessity, given its importance to keeping humans healthy.
Lagos, he said, is challenged by increasing demand for clean water. Sanwo-Olu said the inadequacy of supply infrastructure could raise disease vulnerability in underserved communities, pointing out that the State, despite being surrounded by abundant water bodies, could only manage to utilise 40 per cent of its installed water facilities.
He said: “Lagos has an investment of about $2.8 billion in water infrastructure, but there is a burden on the huge population, as we need to create an ecosystem where we can have access to basic needs in the 21st century. Given our meagre resources, it is really a challenge but we certainly cannot continue to give excuses. This gap is being felt by underserved communities and the risk to the public is high.”
“We have continued to allocate resources to this sector from our budget, but the intervention is hardly enough to serve the needs of the residents. Four years ago, I gave a commitment of $100 million, but this is like a drop, given the number of investments required to fully explore the potential in the sector. We have huge infrastructure that is not being utilised, making us to operate at less than 40 per cent of the installed capacity.”
“Out of the $1.7 trillion needed globally to address the gap in clean water adequacy, Lagos requires less one per cent of the funds to provide safe water. It is my belief that this conversation would lead to sustainable solution that would meet the needs of millions of people that want water adequacy. Our goal is making committed partners believe in economic viability of their investments.”
Sanwo-Olu listed the country’s energy crisis as another factor slowing down the provision of clean water, stressing that irregular power supply rendered resources allocated to the sector inefficient.
The Governor called for equity in global investment towards accelerating water adequacy, noting that humans, regardless of their gender and geographical location, need equal access to clean water.
With 65 per cent of its population made up of young people of under 30, Sanwo-Olu told the funders that Lagos remained an African asset on which viable investments could be made.
The side meeting, which was moderated by the Secretary General of Insurance Development Forum, Ms. Ekhosuehi Iyahen, had seven other panelists, including Chief Executive Officer (CEO) of WaterAid, Tim Wainright, Chief Sustainability Officer of PepsiCo, and CEO of Dalmia Cement in India, Mahendra Singh.
Others are Chief Operating Officer of Water.org, Vedika Bhandarkar, Managing Partner of AquaForAll, Josien Sluijs, Assistant Director General of Food and Agriculture Organisation at UN, Maximo Torero, and former CEO of Mars, Incorporated, Grant Reid.
COP28: Gov Eno joins President Tinubu in Dubai
Akwa Ibom State Governor, His Excellency Pastor Umo Eno, is part of the delegation led by President Bola Ahmed Tinubu GCFR at the ongoing COP28 climate conference in Dubai, United Arab Emirates (UAE).
Delegates from nearly 200 countries, leaders in business and finance, and representatives of civil society are gathering in Dubai from November 30 to December 12 for the COP28 climate conference, aiming to fast-track the transition to a clean-energy future.
COP28 stands for the 28th meeting of the Conference of the Parties (COP) to the UN Framework Convention on Climate Change (UNFCCC), occurring annually.
Also in the President’s entourage are the Minister of State for Petroleum Resources (Gas), Rt. Hon. Ekperikpe Ekpo, President/Chief Executive of Dangote Group, Alhaji Aliko Dangote, Group CEO of NNPCL, Mele Kyari and the newly appointed Permanent Secretary, Federal Ministry of Finance, Mr. Okokon Ekanem Udo, among others.
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