Nigeria Targets 1268MW Boost From 8 New Power Plants

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February 25, 2024

The Federal Government of Nigeria is setting its sights on a significant increase in national power generation by developing eight new power plants. These projects, expected to be constructed through public-private partnerships (PPPs), are projected to add a combined capacity of 1,268 megawatts (MW) to the national grid.

According to reports, three of the eight planned power plants have already been awarded to concessionaires, while the Federal Executive Council (FEC) recently approved the concession of another. The remaining projects are expected to be awarded soon, paving the way for construction to begin.

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The new power plants will utilize a mix of brownfield and greenfield development approaches. Brownfield projects involve the rehabilitation and expansion of existing facilities, while greenfield projects involve the construction of entirely new power plants on undeveloped land. This diversified approach aims to leverage existing infrastructure while also promoting the development of new renewable energy sources.

The minister of water resources and sanitation, Joseph Utsev, presented details of the project to the National Council on Water Resources and Sanitation at its 30th regular meeting as he emphasized the government’s commitment to improving the nation’s power situation through strategic partnerships and investments in the sector.

“We have conclusively concessioned some projects while still developing others through various PPP models itemised as follows: concession of the 40MW Dadinkowa Hydropower Project in Gombe State. We have attained financial closure and the plant is operational, thereby, stabilising the transmission voltage of the North-East of Nigeria.

This news comes amidst ongoing challenges in Nigeria’s power sector, characterized by limited generation and distribution capacity. The current national grid struggles to meet the electricity demands of the nation’s over 200 million population, often hovering between 3,000MW and 4,000MW.

Outlining other projects, the minister said, “Development of 360MW Gurara Phase II Hydropower Project in Niger State (engineering, procurement and construction contract awarded and FEC approval for the concession of operation and maintenance of the power plant through PPP model secured).

The anticipated increase of 1,268MW from these new plants represents a notable step towards addressing Nigeria’s longstanding power challenges. However, experts caution that achieving a sustainable and reliable power supply will require continued investment in infrastructure upgrades, transmission networks, and addressing gas supply constraints to existing power plants.

Tinubu’s Qatar Visit Is To Strengthen Ties – Presidency

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Rhoda Onuzulike

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February 25, 2024

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The Presidency has said that the State visit by the Nigerian Leader, President Bola Ahmed Tinubu to Qatar is aimed at strengthening the bilateral economic cooperation between Nigeria and the Qatar government.

The Special Adviser to the President on Information and Strategy, Bayo Onanuga stated this in a statement made available to State House Correspondent on a leaked diplomatic correspondence between the Embassy of the State of Qatar and Nigeria’s Ministry of Foreign Affairs.

Onanuga noted the healthy bilateral relationship between Nigeria and Qatar, affirming that the State Visit by President Tinubu to Qatar is at the invitation of the Emir of Qatar, His Highness, Tamim Bin Hamad Al-Thani.

The Presidential aide disclosed that the Tinubu will engage in high-level bilateral discussions with the Qatari leader on many crucial matters, covering the diplomatic and economic issues.

Foreign Affairs Minister Confirms Tinubu’s Visit To Qatar

He further hinted that the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture NACCIMA, and Qatar Chambers of

Commerce and Industry collaborated to take advantage of President Tinubu’s visit to mobilise the business community from two countries to explore opportunities in key economic sectors such as oil & gas, manufacturing, agro-business, construction, real estate, ICT, Renewable Energy, Solid Minerals and service sector, amongst others.

Onanuga stressed that President Tinubu and His Highness Al-Thani are both committed to maintaining and building on the existing cordial and special relationship between Nigeria and the State of Qatar.

Fed Govt. Eyes 14 Days for MSME Loan Disbursement

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Rhoda Onuzulike

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February 25, 2024

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The Federal Government of Nigeria has said it is considering solutions that will ensure the disbursement of loans to Medium, Small, and Micro Enterprise within 14 days.

It said the intended solution would reduce the mortality rate of businesses that fold up while waiting for loan approvals.

The Senior Special Assistant to the President, Temitola Adekunle-Johnson, disclosed this at the Inaugural Job Creation and MSME Quarterly Communications Forum held on Friday in Abuja.

According to Adekunle-Johnson, the endpoint is to achieve a single-digit loan for MSMEs and ensure a single-digit loan becomes the norm for small enterprises.

He said, “We are trying to achieve a target of being able to guarantee seamless and easy access to funding for SMEs. We want SMEs to be able to apply for a loan and get it approved within 14 days at worst, and not in six months because some of these businesses can fold up within those six months of waiting for loan approval.

“The disbursements will be quick after the loan assessment is processed. That would help us reduce the bottlenecks of MSMEs running from pillar to pole looking for funding and not even having the collateral to achieve the loans.

“The endpoint is to achieve a single-digit loan for MSMEs. We aim to ensure single-digit loan becomes the norm for MSMEs.”

The government has announced a partnership with Access Bank to set aside N50bn to support skills acquisition by 5 million Nigerians under the job creation initiative of the Federal Government called ‘YouThrive’ by Access.

The initiative is looking at empowering MSMEs in different ways by building their capacity, and access to affordable finance as well as digital, technical, and skill acquisition training for them.

Speaking on the initiative, the Head of Non-Financial Services, Access Bank, Chioma Ogwo, said participating small businesses would be empowered in different ways, including building their capacity and giving them access to affordable finance, besides providing them with the digital, technical, and skill acquisition training to thrive and create wealth.

Meanwhile, the Director-General of the Small and Medium Enterprises Development Agency of Nigeria, Charles Odii, disclosed that 3 million jobs were lost to flooding in Nigeria in 2023.

He however said, the government had developed a technology to alert of an impending danger of flooding across the states, a development he said would help the government to take proactive measures to evict potential victims.

Odii said SMEDAN was helping to mitigate the challenges faced by MSMEs, especially production costs and low rent to enable them to be productive and support the economy.

Senator Ibrahim Hadejia, who is the deputy chief of staff to President Tinubu, MSMEs provide resilience and agility to any economy, added that a country with a robust MSME sector would have a buoyant economy and be able to adapt to some of the current global shocks.

Ukraine War: Zelensky Insists Country Will Win

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Rhoda Onuzulike

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February 25, 2024

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Ukraine’s President has issued a rallying cry, vowing that his country will prevail, as it marks two years since Russia’s full-scale invasion.

“None of us will allow our Ukraine to end,” Volodymyr Zelensky said in an address in the capital Kyiv.

He was joined by Western leaders in a show of solidarity.

The anniversary comes as Ukraine experiences a range of setbacks in its efforts to expel Russia from its territory.

Zelensky said in his speech on Saturday that while any normal person would want the war to end, it could only be on Ukraine’s terms.

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“That’s why, to the words ‘end of the war’, we always add ‘on our terms’. That’s why the word ‘peace’ always goes with ‘fair’.

“We are fighting for it. For 730 days of our lives already. And we will win on the best day of our life.”

Joining him in Kyiv were the leaders of Italy, Belgium and Canada as well as the President of the European Commission, Ursula von der Leyen.

They laid wreaths at a wall commemorating those who have lost their lives in the war.

However, there were some glaring omissions among the visitors. No senior US representatives were present, whereas last year President Joe Biden attended the anniversary.

However, Zelensky did meet a group of Democratic senators led by Majority Leader Chuck Schumer on Friday, though, which he said was a sign Washington backed Ukraine.

Pres. Tinubu Sets Up Economic Advisory Committee

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Rhoda Onuzulike

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February 25, 2024

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President Bola Ahmed Tinubu has set up an economic advisory committee comprising representatives of the Federal government, sub-nationals and the private sector.

This was the outcome of talks held on Sunday evening between the President and key stakeholders at the State House, in Abuja.

Speaking at the meeting, President Tinubu said the essence is to provide additional efforts in stabilising the economy and ensuring the “Best economic future,” for Nigerians.

Foreign Affairs Minister Confirms Tinubu’s Visit To Qatar

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Rhoda Onuzulike

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February 25, 2024

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The Federal Government says President Bola Tinubu will embark on a State Visit to Qatar from March 2 to 3, 2024 to further “cement the excellent relations existing between the two countries”.

The Spokesperson for the Ministry of Foreign Affairs, Francisca Omayuli, in statement on Sunday, said during the visit, discussions will be held at the highest level, on a wide range of bilateral and economic issues.

“The President will be accompanied on the trip by the Honourable Minister of Foreign Affairs, Ambassador Yusuf Tuggar (OON), among some other Ministers and top government officials,” the statement noted.

The ministry further stated it was “aware of the circulation of a diplomatic correspondence on the social media and wishes to state that it will not comment on leaks”.

There was some controversy over the President’s visit with some reports claiming Qatar had snubbed him. The Presidency issued a statement denying that. Presidential spokesman Bayo Onanuga said the so-called leaked diplomatic paper was by mischief makers.

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Also, Tuggar’s aide Alkasim Abdulkadir, in a statement, said, “The Embassy of the State of Qatar in Abuja has clarified the line up of events regarding the upcoming State visit of H.E. President Bola Ahmed Tinubu, to Qatar from 2nd-3rd March 2024 regarding the hosting of a Business and Investment Forum (BIF) on the margins of Mr. President’s visit to Qatar on 2nd March 2024.

“In a diplomatic correspondence with the Ministry of Foreign Affairs the Embassy reiterated that the Qatar Chamber of Commerce will host the event on 3rd march 2024, as proposed by the Federal Republic of Nigeria.

“The clarification has become necessary to clear deliberate misinformation and misrepresentations in the media on the purported cancellation of the event.”

Sanwo-Olu Inspects Red Line Rail Ahead of Opening

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Rhoda Onuzulike

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February 24, 2024

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Lagos State Governor, Babjide Sanwo-Olu, has conducted inspections and rode on the Lagos Red Line before its commissioning, scheduled for next week.

The Red Line is said to be commissioned by President Bola Tinubu.

Sanwo-Olu also inspected tracks, rail corridors, and comfort facilities like cooling systems, handrails, seats, and safety features.

The governor disclosed this on Saturday evening in a post on his official X handle.

He wrote, “Today, I was at the Ikeja Train Station for the pivotal test run of the brand-new trains dedicated to our transformative Red Line Rail Project.

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“The Red Line Rail Project which I performed the groundbreaking on April 15th, 2021 is a momentous step towards a connected and sustainable Lagos.

“Excitement is in the air as we gear up for the commissioning of the project by Mr President, Asiwaju Bola Ahmed Tinubu GCFR, on February 29, 2024.

“This project is a testament to our commitment to progress and innovation. Together, we are on the right track to greatness.

In December 2023, the governor unveiled the Lagos Rail Mass Transit Red Line Ikeja Overpass alongside his Kwara State counterpart and Chairman of the Nigeria Governors’ Forum, AbdulRahman Abdulrasaq.

He said it would be unveiled by Tinubu before the end of the first quarter of 2024, adding that when operational, the Red Line will convey about 500,000 passengers daily.

Angry Farmers Storms Agriculture Fair In Paris

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Rhoda Onuzulike

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February 24, 2024

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A group of French farmers stormed into a major Paris farm fair ahead of a planned visit by President Emmanuel Macron amid anger over costs, red tape, and green regulations.

Facing dozens of police officers inside the trade fair, the farmers were shouting and booing, calling for the resignation of Macron and using expletives aimed at the French leader.

“This is our home!”, they shouted, as lines of French CRS riot police sought to contain the demonstration. There were some clashes with demonstrators and the police arrested at least one of them, report says

Macron, who had breakfast with French farmers’ union leaders, was scheduled to walk within the alleys of the trade fair afterward.

“I’m saying this for all farmers: you’re not helping any of your colleagues by smashing up stands, you’re not helping any of your colleagues by making the show impossible, and in a way scaring families away from coming,” Macron told reporters after his meeting with union leaders.

Meanwhile, the Paris farm show a major event in France, attracting around 600,000 visitors over nine days which was scheduled to open at 9 a.m. (0800 GMT) couldn’t and were still closed at 0838 GMT, following the storming by angry farmers.

In a sign of tensions between French farmers and the government, Macron canceled a debate he wanted to hold at the fair with farmers, food processors, and retailers after farmers unions said they would not take part.

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Report says Farmers have been protesting across Europe, calling for better income, and less bureaucracy and denouncing unfair competition from cheap Ukrainian goods imported to help Kyiv’s war effort.

Farmers’ protests, which have spread across Europe, come as the far right, for which farmers represent a growing constituency, is expected to make gains in European Parliament elections in June.

French farmers earlier this month largely suspended protests that included blocking highways and dumping manure in front of public buildings after Prime Minister Gabriel Attal promised new measures worth 400 million euros ($433 million).

However, protests resumed this week to put pressure on the government to provide more help and deliver on promises, ahead of the Paris farm show.

Ecuador Calls Off Arms Exchange With United States

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Rhoda Onuzulike

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February 24, 2024

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Ecuador’s government has canceled a plan to trade outdated Soviet weapons for new arms from the United States, President Daniel Noboa said.

This comes after the president learned that the old weapons would have been sent to Ukraine.

Noboa, who is grappling with sharply deteriorated security and has declared 22 criminal gangs to be terrorist groups, said in January that Washington would give his country $200 million of new weaponry in exchange for ‘junk’ arms.

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“To our surprise, the United States has communicated publicly that it will take the arms for the armed conflict in Ukraine, in which we do not want to take part, nor do we want to triangulate weapons for it,” Noboa told newsmen in an interview clip shared on Thursday. “We can’t go ahead with it.”

Report says the spokeswoman for the foreign ministry of Russia, which invaded Ukraine two years ago, criticized the arms exchange earlier this month.

“Russia is our third-largest commercial partner, and in this particular case they were right, we would have been triangulating arms and we won’t do that,” Noboa said, giving no further details.

A spokesperson at the US Embassy in Quito said they had no information on the policy change.

Several high-ranking US officials have visited Ecuador in recent weeks to discuss cooperation on security issues.

Russia last week lifted a ban on banana imports from five Ecuadorean businesses. It had said there were sanitary issues with the shipments.

NLC Protest Faces Warning From Attorney-General

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Rhoda Onuzulike

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February 24, 2024

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Attorney-General and Minister of Justice of Nigeria, Lateef Fagbemi, has issued a warning to the Nigeria Labour Congress (NLC), advising them to cancel their scheduled countrywide protests for February 27 and February 28, 2024.

Fagbemi, who stated this in a letter to NLC counsel, Femi Falana, said that the Federal Government has reasonably complied with its memorandum of understanding with organised labour, even though certain areas of the terms of agreement have been inhibited by unforeseen circumstances.

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According to the AGF, the planned industrial action could amount to contempt given a restraining order from the National Industrial Court.

According to the letter, “Upon the submission of grievances to the court, parties in the suit cannot resort to public protests over the same issues, as such conduct amounts to gross contempt and an affront to the institution of our courts of law.

“Therefore, the proposed nationwide protest action in all ramifications is in clear violation of the pending interim injunctive order granted in SUIT NO: NICN/ABJ/158/2023- FEDERAL GOVERNMENT OF NIGERIA & ANOR V. NIGERIAN LABOUR CONGRESS & ANOR on 5th June 2023 restraining both NLC and TUC from embarking on any industrial action or strike of any nature.”

Fagbemi advised Falana to take into account that there is an ongoing case at the National Industrial Court concerning the matter.

The NLC leadership had previously claimed that the Federal Government was not implementing the MOU that included agreements related to workers’ welfare.

However, the TUC withdrew from the NLC’s stance, stating that they were not consulted.