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Ukrainian Company Set to Invest in Nigerian Energy Sector
Ukrainian Company Set to Invest in Nigerian Energy Sector
By: Michael Mike
A Ukrainian company, EDS, has started the move to invest in Nigerian energy sector.
The Director of the company, Zapyshynyi Olexandr, addressing a press briefing in Abuja on Monday, said the company was already mapping out strategies on how to go about the project.
Olexandr while noting that the project will combine solar, wind and hydro energies, said it will begin in the FCT and Lagos before cascading to other states.
He said: “We are looking at mini-grids because we realised that that is where the energy problem is in Nigeria.”
He revealed that: “How successful the first project is will determine how much investment we will bring in.”
He said Nigeria should expect more investments from Ukraine, for the country is moving towards investing in Africa.
Olexandr said the President of Ukraine has given the go ahead for Ukrainian companies to invest in Africa.
Also speaking at the press conference, President of the Ukraine-Nigeria Business Council, Ben Gbade Ojo, said: “Today, we are pleased to present to Nigerians the EDS Ukraine Power and Engineering, a Ukrainian company that has all it takes to turn around the electric power fortunes of Nigeria and help transform Nigeria into a power-efficient nation.
“We welcome the EDS to Nigeria and urge all Nigerians to take advantage of their immense capabilities for sustainable power sector efficiency in Nigeria.”
He said the prime objective of this press conference was to avail the government and Nigerians of the vast opportunities available for the sustainable development and maximal performance of Nigeria’s troubled electric power sector, through a partnership with the people of the Republic of Ukraine.
The Electricity Act of 2023, signed into law by President Muhammadu Buhari in March 2023, and the Amended Act, signed into law this year by President Bola Tinubu permit private participation across all levels of the electricity supply chain, provided such private entities obtain the appropriate licence (s).
Based on the amendment, Nigerians can now participate in the electricity supply business, which was previously the exclusive preserve of the federal government, as administered by the sector regulator, the Nigerian Electricity Regulatory Commission. (NERC).
With the constitution amended, and the National Assembly having passed a law for the electricity sector in line with the amendment and having become an Act, the states will now proceed to establish their power sector laws and regulations.
The 2023 Electricity Act, by virtue, allows anyone to construct, own, or operate a business for generating electricity exceeding one megawatt in aggregate at a site.
Ojo also said the Ukrainian-Nigerian Business Council had fully mobilised to help the federal and state governments and all-electric power sector players and stakeholders benefit maximally from this revolutionary Electricity Power Act.
Ukrainian Company Set to Invest in Nigerian Energy Sector
News
UN Secretary-General Urges Global Reset as Military Spending Hits Record High
UN Secretary-General Urges Global Reset as Military Spending Hits Record High
By: Michael Mike
United Nations Secretary-General António Guterres has warned that the world is at a critical turning point, urging global leaders to redirect priorities from war to peace as military spending reaches unprecedented levels.
In his New Year video message, Guterres said the international community is grappling with deepening chaos and uncertainty marked by growing divisions, violence, climate breakdown and persistent violations of international law.
“The world stands at a crossroads,” the UN chief said, noting that many people are increasingly questioning whether political leaders are listening or prepared to act in the face of escalating global challenges.
Guterres revealed that global military expenditure has surged to about 2.7 trillion dollars, representing an increase of nearly 10 per cent. According to him, the figure is 13 times higher than total global development aid and roughly equal to the entire Gross Domestic Product of Africa.
He described the trend as alarming, especially as conflicts are raging at levels not seen since the Second World War, while millions of people continue to suffer from poverty, inequality and the effects of climate change.
Calling for a shift in global priorities, the Secretary-General stressed that lasting peace can only be achieved by investing more in human development rather than вооружed conflict. “A safer world begins by investing more in fighting poverty and less in fighting wars,” he said.
Guterres maintained that the world has sufficient resources to improve living standards, protect the planet and build a future anchored on peace and justice, if political will is applied.
Looking ahead to 2026, he challenged leaders across the globe to make decisive choices that place people and the environment above conflict and suffering. He also appealed to citizens worldwide to take responsibility and contribute to positive change.
“Our future depends on our collective courage to act,” Guterres said, calling for renewed global unity in the pursuit of justice, humanity and peace in the new year.
UN Secretary-General Urges Global Reset as Military Spending Hits Record High
News
Two others loose life as Anthony Joshua survives car crash in Ogun state
Two others loose life as Anthony Joshua survives car crash in Ogun state
By: Bodunrin Kayode
The Ogun State Police Command has confirmed two deaths even as the world renowned boxer, Anthony Joshua, survived a fatal car crash in Ogun state.
The three were moving in the same vehicle today when their vehicle was involved in a road traffic accident after a head on collision with an on coming vehicle at about 11:00 am, in Makun area of Ogun State.
The incident occurred along the Lagos–Ibadan Expressway, just before Danco Filling Station, near the Sagamu Interchange on the Ibadan-bound axis.
Ogun state police spokesman Oluseyi Babaseyi in a statement said that the vehicle conveying Anthony Joshua, a Lexus SUV, was involved in the accident under circumstances that are currently being investigated.
” He was seated in the rear of the vehicle, sustained minor injuries and receiving medical attention.
“Tragically, two other passengers in the vehicle lost their lives at the scene. The deceased have been conveyed to Livewell Hospital Morgue, Sagamu.
“The Ogun State Police Command extends heartfelt condolences to the families of the deceased and assures the public that a thorough investigation into the circumstances surrounding the accident has commenced..
“Further updates on the incident will be communicated as investigation progresses.” Said the release.
Two others loose life as Anthony Joshua survives car crash in Ogun state
News
Emir of FIKA calls for unity to foster development in Yobe
Emir of FIKA calls for unity to foster development in Yobe
By: Yahaya Wakili
His Royal Highness, the Emir of Fika and Chairman of the Yobe State Council of Traditional Rulers, Alhaji Dr. Muhammad Ibn Abali Muhammad Idrisa CON, CFR, has called on community leaders, elders, youth, and all stakeholders to join hands to unite in our commitment to fostering development, preserving our heritage, and empowering one another.
The royal father made the call at the unveiling of the potentials of Kukar-Gadu, the launching of the history of Kukar-Gadu, the presentation of the Kukar-Gadu physical development plan, and the commission of the Kukar-Gadu Empowerment Development Initiative at Kukar-Gadu town in Yobe state.
He said, “Let us first reflect on the profound heritage that Kukar-Gadu stlands for. Our history is steeped in resilience, courage, and a spirit of unity that transcends generations.” Adding that, the history of the Kukar-Gadu book is a testament to our past, a chronicle that honors our ancestors, celebrates our tradition, and preserves the narratives that define our identity.
Dr. Abali maintains that the Kukar-Gadu physical development plan is a visionary blueprint designed to guide our growth, improve our infrastructure, and enhance the quality of life for our commitment to sustainable development that is inclusive, strategic, and responsive to the needs of our community.
“It is essential that we work collaboratively to implement this plan, fostering partnerships among government entities, private stakeholders, and community members. Noted that, in doing so, we can transform our vision into reality. May this development plan serve as a catalyst for positive change, sparking economic growth and social progress.” The Royal Father said.
The Chairman of the Yobe State Council of Traditional Rulers further revealed that the commissioning of the Kukar-Gadu Empowerment Development Initiative aims to equip our youth and women with the skills and resources they need to thrive in an ever-changing world.
“As leaders, it is our duty to invest in our greatest asset—our people—and through this initiative, we will create a framework for economic sustainability, providing the tools necessary for individuals to succeed and strengthening our community as a whole. Together we seek to build a future that is prosperous and full of possibilities.
Emir of FIKA calls for unity to foster development in Yobe
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