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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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Governor Buni speaks on trade fairs and opportunities in Yobe

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Governor Buni speaks on trade fairs and opportunities in Yobe

By: Yahaya Wakili

Yobe State Governor, Hon. Mai Mala Buni CON, has revealed that trade fairs are widely believed to provide access to research findings, new technologies, and ideas towards actualizing scientific and economic advancement for industrialists and policymakers through face-to-face interactions.

He highlighted some abundant and yet untapped resources in terms of solid mineral resources, deposits of oil, vast arable land suitable for both irrigation and rain-fed agricultural activities, and the highest livestock population in the country.

Governor Mai Mala Buni disclosed this at the Yobe State Special Day at the 15th North East joint domestic trade fair held at Bauchi, the Bauchi state capital.

The governor, who was represented by his deputy, Alhaji Idi Barde Gubana, was impressed with the theme for this year’s event, “Combating security challenges and the way forward for Nigerian economic transformation.”

He pointed out that the diverse people of the state showcased their cultural heritage at the festival from all seventeen local government areas of the state.

Buni commended the Ministry of Commerce, Industry, and Tourism contingent and state officials for showcasing the cultural heritage of the state.

Governor Buni expressed gratitude and appreciation to the Bauchi state governor, Senator Bala Abdulkadir Mohammed, for hosting the event.

The North East Colliation of Chambers of Commerce Industry, Mine, and Agriculture presents an award to Governor Mai Mala Buni CON in appreciation of government support for the chamber of commerce.

Governor Buni speaks on trade fairs and opportunities in Yobe

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Gov. Buni Assures Yobe State University of More Funding

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Gov. Buni Assures Yobe State University of More Funding

By: Mamman Mohammed

The Executive Governor of Yobe State, Hon. Mai Mala Buni CON, today, assured the State University of additional funding from the state and local governments to meet the realities of the current economic challenges.

He gave the assurance when the governing council of the university paid him a courtesy visit at the Government House, Damaturu.

The governor said his government is mindful of the economic challenges facing all sectors of society, and the university is no exception.

He expressed the readiness of his administration to provide the university with more resources to continue with the pursuance of academic excellence.

“The future of the state and our people rely on the university to produce the manpower needed for good governance and quality services to the state.”

He charged the governing council to reach out to agencies like the Tetfund and development partners to source for more funds.

“Other tertiary institutions are benefitting from these agencies. You should also take this advantage and scout for additional funds for the university,” he advised.

The governor noted that the northeast states are working to establish 10 megawatts solar power electricity project to improve power supply in the region.

“We are also working on the North East Development Commission to consider another 10 megawatts solar power project to further improve power supply in the sub-region,” he added.

Gov. Buni expressed optimism that the two projects, when completed, would stabilise electricity supply in the Northeast region.

Meanwhile, the state government is converting 170 boreholes connected to the national grid to hybrid solar powered supply, with 10 boreholes in each of the 17 local government areas.

Earlier, the Chairman of the council, Barrister Ahmed Mustapha Goniri, said the funds allocated to the university have become unrealistic with the increasing rate of inflation.

Goniri said more funds are needed to meet the basic and other requirements of the university.

“More funding is required to meet the needs of the University for it to excell as a Centre of academic excellence” the council chairman said.

Gov. Buni Assures Yobe State University of More Funding

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I am Primed to Rule Botswana -Butale

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I am Primed to Rule Botswana -Butale

By: Michael Mike

The presidential candidate of Botswana Republican Party, Biggie Butale has given reasons why he is contesting for presidency.

Botswana is expected to go to the polls in October. According to the Africa Centre for Strategic Studies, Botswana is long regarded as one of Africa’s most stable and enduring multiparty democracies.

The current president, Mokgweitsi Masisi of the Botswana ruling party Democratic Party, was elected April 2018 and he will be standing for re-election .

But Butale believes he can upstage him at the polls, insisting he was primed to take-over from president Masisi to end what he termed hereditary tendency in the country.

He promised that his presidency will improve the welfare of his people by diversifying the economy to attract more investments into the economy.

The Botswana Republican Party presidential candidate in the coming election who spoke to journalists in Abuja called for democratic reforms in his home country.

He said: “For a democracy to be true, there should be a rotation of government because if you have one-party rule for 60 years, one would wonder if it is a mature democracy.

“But I believe that Batswana are in a position to change that and solidify our democratic culture.”

Butale also stressed the importance of unity across the continent.

He said the whole of Africa is waiting for Nigeria to wake up to its responsibility as the country holds the key to Africa prosperity.

According to him, “I am here in Nigeria; not only am I aspiring to be the President of Botswana but I am also a pan-Africanist. I believe that if we all hold hands together and walk together, we will all go far.

“I believe that Nigeria holds the key to Africa’s prosperity because it has a critical mass of educated citizens,” he said.

He therefore challenged Nigeria to awaken its vast potential to lead Africa into a prosperous future.

Butale explained, “Nigeria is a sleeping giant and until the potentials of the critical mass are harnessed and utilised, it is a sleeping giant and Africa will also sleep along with Nigeria. I believe it takes one person to wake up a sleeping giant.

“For Nigeria to rise, it needs one person and I am coming with this seed to plant it. We need Nigeria to be a modern seed,” he added.

I am Primed to Rule Botswana -Butale

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