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Despite Difficult Times, Fund is Made Available for Energy Transition, Says Bagudu

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Despite Difficult Times, Fund is Made Available for Energy Transition, Says Bagudu

By: Michael Mike

The Minister of Budget and Economic Planning, Senator Abubakar Bagudu has said despite the difficult economic times, the federal government has ensured that fund is made available for the nation’s energy transition programme.

Speaking at a conversation: “Unlocking Climate Finance: Actionable Pathways for Nigeria’s Low Net Emissions Growth,” organised by the Africa Policy Research Institute (APRI) and Enzi Ijayo Africa Initiative, in Abuja on Monday, the Minister who was represented by Special Assistant,
Bolaji Onalaja, said: “There is no understatement of the importance of Climate action for all governments. It is particularly important for Nigeria given that the country has significantly suffered from the effects of climate change, from desertification in the Lake Chad Basin, which has led to migration of herders southwards and has contributed to banditry and clashes with farmers; to the degradation of mangrove forests; and to the frequent floods that have had a devastating impact on livelihoods across the country.”

He noted that “there is a need to raise financing to fund the energy transition, but at the same time as we face a challenging fiscal environment and other short term priorities (including ramping up oil and gas production, and taming inflation, it can sometimes be difficult to prioritize the mainstreaming of climate action but this administration led by President Bola Ahmed Tinubu has been consistent and has even included in the 2024 budget the inclusion of an energy transition fund and the implementation of the Presidential CNG initiative.”

In his opening remarks, the Executive Director, APRI, Olumide Abimbola said: “We know that climate change is already inflicting immense damage on lives and livelihoods, often to the people who have the least capacity to adapt to its effects such as in Africa. In the six years between 2012 and 2018, extreme weather events in the form of floods and droughts cost Nigeria over 31 billion dollars.”

Abimbola said: “We also know that over the past years, the position of African countries has largely been shaped by the Global North. There is an increasing need for Africans to shape and chart the continent’s climate transition pathways in line with local climate and socio-economic realities, as well as development priorities. Here, African countries such as Nigeria have a leading role to play.

“Nigeria is the most populous African country, the country with the youngest African population, the largest petroleum production, and one of the largest economies on the continent. What Nigeria does, can do, or plans to do, especially around financing, is of immense consequence for the continent.

“The global realities of climate change mean that the landscape for finance and global geopolitics is changing significantly. As climate and ESG considerations become increasingly important in accessing finance from the Global North, plans that do not have climate action in view are finding it more difficult to attract financing.

“This is leading to a significant decline in new investment in fossil fuels, for example, with investments into energy financing of any kind increasingly being based on climate considerations. For Nigeria, navigating between weaning itself off fossil fuel dependence and accelerating renewable energy investments is of extreme importance.”

He noted that: “In the last year, Nigeria received about two billion dollars in climate financing, a small fraction of the need, even in the energy sector alone,” adding that “increasing flows will not come from simply articulating our vision for climate action or making bold statements of intent. They will only come when we begin to internally reflect and shape what climate transition, especially a just transition, means to us – and when we begin to implement reform initiatives directed at clearly demonstrating that our plans are fact-based and rooted in the realities of our political economy.”

He said: “For us to do this, we need to reflect internally and evaluate actionable pathways for Nigeria’s Low Net Emissions Growth. Pathways that do not compromise on our development priorities, and that also incorporate resilience in the realities of foreseeable climate impacts.”

He said: “We need to ask ourselves critical questions such as: Is Nigeria doing the right thing in the right way or are we just dangling the prospect of billions of dollars of climate finance in the offing? Should Nigeria be looking to design more flexible short-, medium- and long-term strategies that will be fit for purpose? How should Nigeria be maintaining a balance between adaptation and mitigation? Should the focus be more on consumer-led promotion of technology products, rather than top-down, policy-driven prescriptions?”

Despite Difficult Times, Fund is Made Available for Energy Transition, Says Bagudu

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Reflection…DEVELOPMENT IN THE NORTH: WHAT WENT WRONG?

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Reflection…DEVELOPMENT IN THE NORTH: WHAT WENT WRONG?

BY: YUSUF ADAMU

Growing up as an ‘almajiri’ boy in the early 60s, I was not subjected to the harsh condition being faced by many ‘almajiris’, I see today roaming the street in many northern states. I was living in my father’s house and only go to attend my Qur’anic School. The beauty of it all, ‘almajiris’, in those days, the ‘almajiri’ boy begs in the name of God (Ala’ro). Today, ‘almajiris’, no longer beg using the name of God. All they would say is, ‘we are hungry or we want money.

Recently, I was pondering on issues surrounding the backwardness of my dear North’. In every thing regarding development of this region, once great and mighty. While I was wondering on these issues, I was again confused following my brief chat with an ‘almajiri’ boy in between hours of my long day of worry over so many thing I could not give myself the answer that fetches any relief for me.

In my brief discussion with this lad, I ask him about his background and why at is aged, he was not living in his father’s house. His answers points to poverty, which is the only reasons an typical northerner can give in defense of his present circumstance. “I am from Katsina state, my father, Malam Garba Fori, is not working. My mother, is a petty trader – selling ‘Awara’.” He said.

Indeed, this pointed to nothing but poverty. But why are so many northern elites seemed relax with such an army of wanderers on every street in the north. Is it that, we have forgotten about our social responsibilities as a region?

After the Korean war, South Korea was one of the world’s poorest countries with only $64 per capita income. Economically, in the 1960s it lagged behind the Democratic Republic of the Congo (DRC) – currently holding
elections marred by violence . Since then the country’s fortunes have diverged spectacularly. South Korea now belongs to the rich man’s club, the OECD development assistance committee (DAC). The DRC has gone backwards since independence and, out of 187 countries, ranked bottom in the 2011 Human Development Index.

Thirty -five years ago, China’ s per capita income was only one- third of that of sub – Sahara Africa . Today , China is the world ‘ s largest manufacturing powerhouse : It produces nearly 50 percent of the world ‘ s major industrial goods , including crude steel (800 percent of the U .S . level and 50 percent of global supply ) , cement (60 percent of the world ‘ s production ) , coal ( 50 percent of the world ‘ s production ) , vehicles ( more than 25 percent of global supply ) and industrial patent applications ( about 150 percent of the U .S . level ) . China is also the world ‘ s largest producer of ships, high -speed trains , robots, tunnels , bridges , highways, chemical fibers , machine tools , computers , cellphones , etc.

China ‘ s industrial revolution , which started 35 years ago, is perhaps one of the most important economic and geopolitical phenomena since the original Industrial Revolution 250 years ago. The reason is simple : Less than 10 percent of the world ‘ s population is fully industrialized ; if China can successfully finish its industrialization, an additional 20 percent of the world ‘ s population will be entering modern times . Along the way , China is igniting new growth across Asia , Latin America, Africa and even the industrial West , thanks to the country ‘ s colossal demand for raw materials , energy , trade and capital flows .
China ‘ s rapid growth has puzzled many people, including economists .

Production of natural rubber is concentrated in a few developing countries, with Malaysia, Indonesia, Thailand, Sri Lanka and India accounting for a substantial volume of the world’s exports. Rubber is easily grown in hilly terrain, and has been successfully established in degraded deforested areas, leading to improved land use and a reduction of erosion, siltation and flooding. Productivity has been enormously increased through improved varieties (including better quality rootstocks) and innovations in agronomic practices, including exploitation methods (e.g. low intensity tapping with chemical stimulation to optimize productivity), advanced planting material and micro-tapping (to reduce immaturity period), and other innovations such as high intensity planting.

Palm oil production in Asia amounts to more than half of world production, with Malaysia, Indonesia and now Thailand accounting for the major share. Much progress has been made, particularly in Malaysia, in the addition of value to their products through further processing of palm oil into semi-finished and finished products. Oil palm is the most efficient producer of vegetable oils (500 percent better than soya beans), giving it greater resilience to adverse price changes.

There are prospects of even higher productivity now that improved varieties (clonal planting material) have been introduced, with a good possibility that oil quality characteristics will improve. Over the years there has been expansion of oil palm areas and intensification of downstream processing activities, largely with import substitution objectives.

Coconut is another major perennial oil crop in Asia, accounting for more than two-thirds of the world’s production. Major coconut producers are the Philippines, Indonesia, India, Malaysia and Sri Lanka. Coconut plantations in the region are characterized by low productivity, though efforts were made in the 1980s to improve productivity gains through the introduction of improved varieties (hybrid planting material), better use of inputs, and inter-cropping (including livestock).

In most countries, at present, marketing structures focus on oil extraction and by-product utilization. Considerable initiatives have been made to enhance productivity through improved input use, expansion of processing facilities and support of extension and research institutions.

After the Nigerian civil war, the Igbo’s were given stipend to start their lives all over, and today, the Igbo’s are the movers and shakers of the Nigeria’s economy. The north, in the 60s compare to all the countries mention above is greater. With purposeful leadership, the north is known for its farming and an upcoming revolution in agriculture, commerce and trade. However, so sad that, today, the north is reduce to a begged region. So, the question is, what went wrong?

Reflection…DEVELOPMENT IN THE NORTH: WHAT WENT WRONG?

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NSCDC Dismantles Rivers Bunkering Site

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NSCDC Dismantles Rivers Bunkering Site

By: Michael Mike

The Commandant General’s Special Intelligence Squad of the Nigeria Security and Civil Defence Corps has uncovered and dismantled an illegally constructed refining site with over 100,000 litres of stolen crude oil in Adobi settlement in Etche Local Government, Rivers State.

The Commander of the CG’s SIS, DC Dandaura Appolos while giving the brief hinted that the operational success was achieved through credible Intelligence that some suspects have vandalized a multinational company well head and connected galvanized metal pipes with large hoses thereby syphoning crude and processing it locally.

A statement on Saturday by the National Public Relations Officer of NSCDC, Babawale Afolabi, stated that the CG’s SIS immediately swung into action and upon arrival at the crime scene they uncovered several sites where massive illegal refining of stolen crude oil were carried out.

Appolos was quoted to have said: “Just as we valued and protect our informants, the information received are always treated with caution and prompt alertness; as soon as we arrived the suspect took to their heels but we were able to arrest one Godspower Oyibo (M) 32 years from Delta State who is now assisting us with further investigation”.

He disclosed that: “On the crime scene there were reservoirs cemented with trampoline and filled with approximately 100,000 litres of crude oil. While the following exhibits were sighted:

A Yellow Colour Robin EY 20 Pumping Machine, Galvanized metal pipes, long large hoses, Already Vandalized Well head, stolen crude worth 100,000 litres stored in reservoirs, calibrated surface tanks, processed AGO in cooking pots and metal buckets”.

He said: “The Rivers State Commandant, Basil Igwebueze has been approximately intimated with the development; we assure the public that the Corps will not be fatigued in the relentless war against vandalism and crude oil theft across the nation even as suspects arrested would have their time in Court after diligent investigation”.

NSCDC Dismantles Rivers Bunkering Site

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Troops barbecued 6 Boko Haram elements, recover weapons in Sambisa

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Troops barbecued 6 Boko Haram elements, recover weapons in Sambisa

By: Zagazola Makama

The Troops of Operation Desert Sanity III, Operation Hadin Kai, have nutrialised six Boko Haram terrorists after at their enclave in Lawanti in Sambisa Forest.

It was gathered that the troops in collaboration with a hybrid force and elements of Civilian Joint Task Force, successfully overran the terrorists’ stronghold after engaging the terrorists on May 17, 2024.

Zagazola Makama, understands that the insurgents fell under the overwhelming superior firepower of the troops, on their withdrawal route, while trying to ambush the troops.

The troops recovered some weapons belonging to the terrorist.

Troops barbecued 6 Boko Haram elements, recover weapons in Sambisa

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