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Nigeria To Tackle Powers Deficit With Alternative Energy Sources

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The Nigerian Government, says it will address power deficit in the country by using alternative energy sources, such as windfall, solar and mini grids.

Minister of Power, Adebayo Adelabu, represented by Director Procurement, Ministry of Power, Abdulrasheed Lawal, disclosed this in Abuja, the nation’s capital, at the presentation of the proposed 30 Megawatts Windfall and Solar Hybrid Project at Lekki, Lagos State, south-west Nigeria.

More Than Two-Thirds Of World’s Population Support Solar Energy

According to reports, the project after necessary appraisal would be executed by Crown Resources Development Company Limited (CREDCO) in collaboration with Vergnet a French Wind Turbine Company, based in France.

” We are aware that presently there is energy deficit in the country, so we are doing everything possible to address the issue by investing in alternative sources”

”We have to think out of the box to achieve energy sufficiency; we have to look at using mini-grids, solar and wind to achieve this”

”We are already doing 10MW using Windfall in Katsina and we are trying to replicate same in Lagos in order to ensure reliable and steady power supply in the country,”  the Minister said.

The Chief Executive Officer of CREDCO, Barney Ojiah, briefing the Minister on the purpose of his visit said that they were in the Ministry to make a presentation on the project and to discuss how to further improve power supply for Nigerians.

Tinubu Accelerates Digital Sector Investment Permits

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President Bola Ahmed Tinubu has directed the swift issuance of processing permits to encourage investment in Nigeria’s Communications, Innovation, and Digital Economy sector.

The President gave the directive during a meeting with a delegation from American Tower Corporation (ATC) Nigeria at the State House in Abuja on Thursday.

President Tinubu further directed the Federal Ministry of Communications, Innovation, and Digital Economy; the Federal Inland Revenue Service (FIRS), and the Federal Ministry of Environment to streamline regulations and tax frameworks. This alignment aims to facilitate the expansion of investments in telecommunications and broadband infrastructure across the nation.

In response, the Chief Executive Officer of ATC Africa, Marek Busfy, affirmed ATC Nigeria’s dedication to enhancing its investments in the country. Notably, their investments have already exceeded $2.19 billion since the inception of operations in Nigeria in 2015.

Busfy also emphasized ATC’s commitment to delivering value to subscribers while reducing greenhouse gas emissions associated with its operations.

Presidency Honours Gombe For Digital Innovation

Responding, President Tinubu commended ATC Nigeria for its significant contributions and investments in the country’s ICT sector, highlighting the importance of innovative solutions to bridge the digital divide.

3MTT

The President lauded the ongoing efforts of the Federal Ministry of Communications, Innovation, and Digital Economy to promote digital connectivity across the nation, particularly the 3 Million Technical Talent (3MTT) programme that functions to upskill three million Nigerian youths in digital literacy and innovation through innovation incubators nationwide.

Broadband connectivity

President Tinubu outlined ongoing initiatives to establish broadband connectivity in all 774 local government secretariats within six months, leveraging existing infrastructure, such as NIGCOMSAT and Galaxy Backbone’s fibre optic network.

Ease of doing business

Addressing concerns raised by the delegation regarding the ease of doing business in Nigeria, President Tinubu assured them of his administration’s commitment to implementing reforms that will eliminate bureaucratic constraints.

In response to a request from the delegation for a reduction in withholding tax for telecommunications companies to stimulate investments in telecommunications and broadband infrastructure, the President said the Federal Inland Revenue Service (FIRS) would review the matter and provide a solution that is in the best interest of both the investors and the Nigerian people.

In his remarks, the CEO of ATC Africa reiterated the company’s readiness to invest further in Nigeria’s ICT infrastructure to meet the market’s growing demand for data, while lauding the clarity of strategy demonstrated by the administration, particularly praising the roadmap and efforts of the Honourable Minister of Communications, Innovation, and Digital Economy, Dr. Bosun Tijani.

“Mr. President, what has struck me in Nigeria is the clarity of strategy by your administration, particularly in the ICT sector, and the administration’s 3MTT programme. In the last year, we have invested over $200 million in growing our infrastructure in Nigeria, and we are ready to do significantly more.  

“We have employed several hundred people in Nigeria and 25,000 more indirectly. We have paid about $400 million in taxes, both direct and indirect. As an American company, we are often asked about our experience in Africa and in Nigeria, and we want to stress that we are very ethical in our approach to business,” Busfy said.

NDDC Partners Rice Farmers On Food Security

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The Niger Delta Development Commission (NDDC) has partnered with the Rice Farmers Association of Nigeria (RIFAN) in a bid to ensure food security.

According to a statement by the NDDC Director of Corporate Affairs, Pius Ughakpoteni, the commission’s Managing Director, Dr. Samuel Ogbuku, stated this during a strategic meeting with a delegation of the farmers association, led by its Deputy National President, Victor Korede, in Port Harcourt, Rivers State.

NDDC Gives Update on Project Hope Empowerment Scheme

Ogbuku, who was represented by the NDDC Executive Director of Projects, Sir Victor Antai, said the commission was ready to partner with RIFAN to promote rice cultivation in the region.

“With the new drive in NDDC, we are ready to go into partnership with RIFAN. We have two rice mills in Elele-Alimi, Rivers State, and Mbiabet-Ikpe in Akwa Ibom State. We are interested in the smart agriculture approach of the farmers’ association.

“The NDDC Managing Director is determined to execute legacy projects which will impact positively and directly on the people of the region,” he stated.

The NDCC said it had introduced a pet programme known as Holistic Opportunities, Projects and Engagement, which had agriculture as one of its key components, in line with the ‘Renewed Hope Agenda’ of President Bola Tinubu.

“The Project HOPE’ initiative seeks to engage youths of the region by creating employment opportunities for them. We have collated the data of the youths in the region and so many of them are interested in agriculture. The NDDC is resolute in the quest to provide food security in the Niger Delta region, and we need to engage the youths in agriculture to achieve this goal,” report said.

According to the NDDC boss, the Niger Delta region is endowed with the right ingredients for rice growing.

He stated, “The Niger Delta region, due to the arable wetlands, rainfalls and other ecological factors in its favour, provides the window to plant rice at least, twice within a farming season. Therefore, it is incumbent on us to engage the rice farmers meaningfully as they have shown a strong desire to grow more rice.

“We are trying to move away from the oil economy and the sector which can accommodate our youths in large numbers is the agricultural sector. We also want to move from subsistent agriculture to mechanised farming to harness all the opportunities that the Niger Delta region has to offer.”

Speaking during the meeting, RIFAN’s South-South Vice President, Emmanuel Anoh, said the association was set to demonstrate that local production of food in sufficient quantity is possible in the country.

He explained, “We are here to discuss partnership with the NDDC on how best the region can feed Nigeria and contribute to the President’s agenda of self-sufficiency in food production. Rice is a global staple crop eaten by every home at least, thrice a week.”

NGX: Trading All Week Ended With Positive Sentiments

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The Nigerian Exchange Limited, NGX sustained positive sentiments all through the week with all five (5) trading sessions of the week ending with the benchmark index appreciating.

The NGX All-Share Index and Market Capitalization appreciated by 3.71% to close the week at 105,085.25 and N59.416 trillion respectively.

Similarly, all other indices finished higher with the exception of NGX Oil and Gas and NGX Sovereign Bond which depreciated by 0.11% and 3.12% respectively.

Investors Gain N86bn on Positive Market Sentiment

A total turnover of 1.773 billion shares worth N52.867 billion in 44,713 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 2.157 billion shares valued at N108.824 billion that exchanged hands last week in 51,556 deals.

The Financial Services Industry (measured by volume) led the activity chart with 1.136 billion shares valued at N23.185 billion traded in 19,896 deals; thus contributing 64.04% and 43.86% to the total equity  turnover volume and value respectively. The Conglomerates Industry followed with 339.390 million shares worth N5.874 billion in 3,650 deals. The third place was the Consumer Goods Industry, with a turnover of 82.645 million shares worth N6.724 billion in 6,155 deals.

Trading in the top three equities namely Transnational Corporation Plc, Guaranty Trust Holding Company Plc and Access Holdings Plc (measured by volume) accounted for 677.439 million shares worth N17.287 billion in 7,789 deals, contributing 38.21% and 32.70% to the total equity turnover volume and value respectively.

Fifty-five (55) equities appreciated in price during the week higher than twenty-two (22) equities in the previous week. Twenty-four (24) equities depreciated in price lower than fifty-six (56) in the previous week, while seventy-five (75) equities remained unchanged, lower than seventy-six (76) recorded in the previous week.

ETP

A total of 19,403 units valued at N8.143 million were traded this week in 79 deals compared with a total of 24,397 units valued at N8.936 million transacted last week in 136 deals.

BONDS

A total of 229,700 units valued at N241.474 million were traded this week in 31 deals compared with a total of 63,607 units valued at N63.432 million transacted last week in 27 deals.

Blue Economy Proposes $1b For Ports Rehabilitation

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The Nigerian Minister of Marine and Blue Economy, Gboyega Oyetola has disclosed that the ministry has proposed a $1 billion investment for the rehabilitation of ports across the country.

The Minister who was represented by the Permanent Secretary, Oloruntola Michael made this known when he appeared before the House of Representatives Committee on Privatisation.

according to him “the dream to achieve a modernised port is paramount and sacrosanct, adding that the concession agreement to be entered into with any Investor or Operator must align with this vision”.

Oyetola noted that government has not achieved the maximum benefits to be derived from the port concession due to inability to improve the port infrastructure to the desired standard for efficient operation, most of which have or are approaching the end of their life span.

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He added that during the course of rehabilitation of the ports, the ministry would ensure the ports are not completely shut down.

The Minister recalled that government embarked on Port reforms in 2005/2006 in order to enhance operational efficiency, improve productivity and revenue accrual to government, attract investment to the port sector and technology transfer, among others.

He noted that the reform resulted in the delineation of the six port complexes in Lagos, Port Harcourt, Calabar, Onne and Warri into 26 terminals and transfer of cargo operations, which was hitherto performed by the Nigerian Ports Authority (NPA) to the Terminal Operators that emerged through competitive bidding process.

The minister also explained that this culminated in the Lease Agreements signed between NPA (Lessor) and Private Terminal Operators (Lessee) with the Bureau of Public Enterprises as the Confirming party for a specified period ranging between 10-25 years.

He said ‘The Landlord Model’ was adopted where the lands for port development and related activities within areas declared as ports are owned and administered by NPA with responsibilities also assigned to the private operators”.

Oyetola noted that the five expired leases were initially granted a ten year concession at Apapa, Tincan Island and Delta Ports.

He said that extensions of five years were however granted to compensate the Terminal Operators in accordance with Section 25 of the Port Act due to budgetary constraints and the NPA’s inability to discharge some of its obligations as stipulated in the lease agreements.

He also pointed out that other challenges included; inability of NPA to meet the advertised depth for vessel reception, changes in government policies, encumbrances of lease property, insecurity on the waterways and collapsed access roads to the ports, among others.

 Oyetola stressed that the extension expired in 2021 and further extended for six month period twice.

The minister noted that the Terminal Operators have now approached NPA to renew the Concession Agreement, adding that this was forwarded to the ministry by NPA.

Discounted Food Markets Open Across Lagos Sunday

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Governor Babajide Olusola Sanwo-Olu has directed that ‘Ounje Eko’ food markets should commence discounted sale of food items across the five divisions of Lagos effective from Sunday, March 17, 2024.

The food items – rice, beans, gari, bread, eggs, tomatoes, pepper, among others – will be sold at 25% discount to residents.

This is according to the Lagos State Ministry of Information and strategy, announced by Gbenga Omotoso.

In order to prevent sharp practices and ensure the foodstuff reaches a large number of Lagosian, a voucher system will be introduced as the pilot scheme kicks off.

Independent payment solution providers and food vendors have been identified and carefully selected to operate the process. They will also provide real-time data on the exercise for monitoring.

For the purpose of transparency, prices of the items have also been listed. A 5kg bag of rice would sell for N5,325 while 1kg goes for N1,065; 5kg bag of Beans – N6,225 while 1kg would sell for N1,245. Prices of other staple food items will also be made available through various media outlets.

Give Low-earners Food Stamps -Senate to FG 

The markets will be open at 27 locations in Ikeja; six in Lagos Island; nine in Ikorodu; five in Epe; and 10 in Badagry divisions.

Governor has called on all Lagosians to cooperate with the operators at the various locations, monitor the process, and provide feedback through official channels of the Lagos State Government.

Alleged Privacy Breach: JAMB Warns Parents Against Enrolling Minors For UTME

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The Joint Admissions and Matriculation Board (JAMB) has cautioned parents, against enrolling minors for the Unified Tertiary Matriculation Examination (UTME).

The Registrar of JAMB, Prof. Ishaq Oloyede gave the warning while reacting to a suit, filed by one Mrs. Ifeanyi Eke, against the Board, over alleged inappropriate text messages sent to her 15 year old daughter during the course of her registration.

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It would be recalled that Mrs. Eke has filed a N100m suit against JAMB and three others before the Federal High Court in Lagos over alleged unsolicited and inappropriate text messages sent to her 15-year-old daughter.

But reacting to the incident in an interview with the press on Tuesday, Oloyede said the Board is ready to meet with the woman, maintaining that the sender of the message was not its staff.

The Registrar said since the incident happened, JAMB reported to the security agencies to take appropriate action but the woman did not care, suing for N100 million at the expense of the child.

He said, The person is not our staff, he is not even a staff of the centre, he is a co-student. He is just like a candidate, an undergraduate in one of the Universities

And talking about our data, nobody has access to our data. The person got the information from the phone of the under age girl.

How did your girl of 15 years was ready for University now? If she is law abiding as she claimed. The law today is that you must spend six years before primary school, six years in primary school and six years in secondary school. By that time, you are 18.

But when you reduce three years, you must have cut corners to make a 15 year old child ready for University education.

We will meet her in court, it is for the court to decide whether she deserve that money.

The JAMB boss maintained that the person got the telephone number of the victim at the center because they had a form to fill, saying that it has dealt appropriately with the center, the reason being that it shouldn’t have allowed unauthorized persons in the premises.

He continued; Even the centers do not have access to our data base, the person must have collected the number while interacting with her at the center.

We dealt with the center on negligence, for allowing unauthorized person to have access to where these candidates were. And we are urging parents to allow their children to be matured before registering for UTME.

We are now saying that any center that allow a parent to get near to where the candidates are been screened, that centre will be deleted.

Secondly, we have instructed the centers to stop the identifying the parents of the candidates and we will take appropriate action against the candidates.

Parents cannot destroy the career of their children because of their emotions and indiscipline,” he added.

Arsenal Beat Porto To Reach Champions League Quarterfinals

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Arsenal have won the round of 16 tie against Porto late Tuesday at the Emirates.

The Gunners secured the quarterfinals spot after a 4-2 penalty shootout win, following a much-contested duel against the Portuguese side.

David Raya was the hero as Arsenal beat Porto 4-2 on penalties on Tuesday to reach the Champions League quarterfinals for the first time since 2010.

The teams were locked at 1-1 on aggregate after an absorbing second leg at the Emirates but Raya saved twice in the shootout to break the hearts of the two-time champions.

The goalkeeper pulled off a brilliant save to deny Wendell and repeated the feat against Galeno, while the home side converted all four of their penalties.

It is the first time a Champions League match has been decided by penalties since the 2016 final between Real Madrid and Atletico Madrid.

Trailing 1-0 from the first leg, Mikel Arteta’s Premier League leaders were not at their fluent best against a disciplined Porto side.

Leandro Trossard pulled Arsenal level on aggregate shortly before halftime but neither side could find the killer blow.

The Gunners came into the match with 33 goals in their past eight league games – a winning run that has rocketed them to the top of the Premier League.

But Sergio Conceicao’s men succeeded in frustrating the home team for long periods in the first half, fashioning enough chances of their own make it a nervy night for the expectant fans.

Both sides struggled to settle in a scrappy opening period, with Porto doing their best to slow the game down by taking their time with throw-ins and goal kicks, to the audible frustration of the home crowd.

Arsenal defender Ben White headed over in the fourth minute after the home side’s first sustained attack while captain Martin Odegaard hit the side netting 10 minutes later.

But Porto, who were last crowned European champions under Jose Mourinho in 2004, had a number of openings.

Evanilson whipped a shot at goal from distance that bounced wide and minutes later struck a rising strike that Raya palmed away.

Declan Rice headed just wide and Pepe – the first 41-year-old to play outfield in the Champions League – got the deftest of touches with his head to prevent Kai Havertz from connecting with a White cross at the back post.

– Breakthrough –

The breakthrough finally came in the 41st minute following good work from Odegaard, who jinked past an opponent and fed Trossard with a perfectly weighted low pass into the box.

Trossard calmly hit a right-footed shot past goalkeeper Diogo Costa and into the far corner of the net to ease the tension.

The visitors, who had never won a match in England in 22 previous attempts, started the second half brightly as Arsenal struggled to impose themselves.

Arsenal thought they had doubled their lead midway through the second half when Odegaard dinked the ball into an empty net but the goal was ruled out for a foul by Havertz on Pepe.

Moments later Porto streamed forward and Raya blocked Francisco Conceicao’s shot from the edge of the penalty area.

Arteta threw on Gabriel Jesus in the 83rd minute and the former Manchester City man nearly scored with his first touch.

As Arsenal pushed for a winner, Bukayo Saka produced a trademark curling effort that was punched back into the middle and Odegaard steered the rebound wide when well-placed.

The home side looked the more dangerous in the early stages of extra-time but Porto remained a threat on the break, with substitute Mehdi Taremi curling wide.

Arteta brought on Eddie Nketiah and Oleksandr Zinchenko for the second period of extra time but neither side could find a winner and it went to penalties.

Diaw, Edem Lead African Players’ Rise In Latest ITTF Ranking

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Following the conclusion of the table tennis event at the 13th African Games over the weekend, Senegal’s Ibrahima Diaw and Nigeria’s Offiong Edem have led the rising of African players in the 2024 Week 11 ranking released on Tuesday March 12 by the International Table Tennis Federation (ITTF).

Diaw and Offiong were bronze medalists in the singles event and improved their world rating to be listed among the biggest movers in the world.

The Senegalese Diaw moved by 26 steps to be ranked 67 in the world while Edem gained 45 steps up to be rated 97 as the best ranked female Nigerian player in the world.

However, the biggest mover in the world is Algeria’s Lucie Mobarek, who was unranked before the African Games but moved by 544 steps to be ranked 103 in the world as the highest ranked Algerian female player in the world.

Men’s singles quarter-finalist, Khaled Assar of Egypt gained 146 steps to be rated 145 in the world.

The biggest beneficiaries are Tunisian trio of Wassim Essid, Youssef Ben Attia and Khalil Sta.

The Tunisians are bronze medalists in the men’s team event and gained steps in their world ranking.

Teenage sensation Essid gained 83 steps to be ranked 206, while Ben Attia and Sta gained 221 steps to be ranked 237 and 238 respectively.

Apart from Edem and Mobarek who gained steps in the women’s ranking, Algeria’s Mallisa Nasri, Ghana’s Cynthia Kwabi and Uganda’s Judith Nangonzi.

Nasri gained 78 steps to be ranked 211, Kwabi earned 113 steps to be rated 237 while Nangonzi gained 135 steps to be ranked 245 in the world.

Rivers United Drawn Against Confederation Cup Reigning Champions, USM Alger

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Samuel Antwi of Rivers United celebrates goal with teammates during the CAF Confederation Cup 2023/24 match between Rivers United and Academica held at Yakubu Gowon Stadium in Port Harcourt, Nigeria on 26 November 2023 ©Otobong Friday Silas/BackpagePix

Nigeria’s Rivers United face an uphill task as they have been drawn against defending champions, USM Alger in the quarter-finals of the CAF Confederation Cup. USM Alger will be going into the encounter with intimidating profile as they are not just the defending champions, they also hold the CAF Super Cup after they defeated Al Ahly of Egypt, the winners of the Champions League.

The draw was done on Tuesday in Cairo. But the most intriguing pairing is the Egyptian derby of Zamalek and Future FC. Nigeria’s Dolphins which later merged with Sharks to form Rivers United were finalists in 2005 when they lost to Morocco’s Forces Armées Royales.

In the draw conducted on Tuesday, all four competition champions (USM Alger, RS Berkane, Stade Malien, RS Berkane) avoided each other in the quarter-finals.

One of the quarter-finals pitches Libya’s Abu Salem against two-time champions, RS Berkane of Morocco who are in search of a third continental title since their 2020 and 2022 triumphs.

Champions in the 2009 edition, Stade Malien are back in the knockout stages of the competition and are aiming for a second title when they face Ghana’s Dreams FC who will be looking at causing an upset against their more fancied opponent.

CAF Confederation Cup Quarter-Final Draw Outcome: 

29 – 31 March 2024:
QF 1 | Modern Future (EGY) vs Zamalek (EGY)
QF 2 | Abu Salem (LBY) vs RS Berkane (MAR)
QF 3 | Rivers United (NGR) vs USM Alger (ALG)
QF 4 | Stade Malien (MLI) vs Dreams FC (GHA)

05 – 07 April 2024:
QF 1 | Zamalek (EGY) vs Modern Future (EGY)
QF 2 | RS Berkane (MAR) vs Abu Salem (LBY)
QF 3 | USM Alger (ALG) vs Rivers United (NGR)
QF 4 | Dreams FC (GHA) vs Stade Malien (MLI)

Semi-Final Draw Outcome:

QF 3 Winner vs QF 2 Winner
QF 1 Winner vs QF 4 Winner
Semi-Finals Dates to be communicated in due course.