General
Dangote Cement, Okpella Communities Sign Development Agreement
By Aduragbemi Omiyale
An epochal development agreement has been signed between Dangote Cement Plc and the host communities in the Okpella area of Edo State.
The Community Development Agreement (CDA) came just as the Edo and the federal governments commended the cement maker for being proactive in planning for the growth of its host communities as a sure means of promoting peaceful cohabitation.
Dangote Cement, which operates a cement factory in Okpella, said the deal with the communities demonstrates its commitment to their development and overall well-being.
“Today’s occasion is not only a demonstration of our compliance to these regulatory provisions as a responsible corporate organization but also a demonstration of our commitment to the development and overall wellbeing of our host communities.
“For us as a company, we believe in the mantra, good neighbourliness is good business, hence we are doing everything possible to maintain harmonious relationships with all the communities where we operate,” the Okpella Plant Director for Dangote Cement Plc, Mr Mohammed Ismaeel, said at the signing ceremony last Tuesday.
He disclosed that the cement company has fully complied with the provisions of the Minerals and Mining Act, 2007 and that of the Minerals and Mining Regulation 2011 of the Federal Republic of Nigeria, adding that the occasion marks the beginning of concrete infrastructural development and social supports in the areas of education, improved access to health care, economic empowerment programmes targeted at the youths, women and the farming population, improved access to potable water, support to improve electrification and power supply among other things.
Mr Ismaeel pointed out that the CDA also provides for scholarship grants for students in secondary and tertiary institutions to promote excellence in the educational pursuits of indigent students from Dangote Cement, Okpella host communities.
He added that the CDA document clearly states the consultative framework for engagements, grievance management and obligations of both the Plant and the host communities for mutual growth and development stressing that, it is a path to define relationships, commitments, obligations and expectations with potential to address immediate concerns and future social issues that may arise in the course of the relationship between the company and its host communities.
Mr Ishmaeel then requested the host communities to keep their end of the bargain by supporting and collaborating with the company to foster all-around development, noting, “Be assured that we are always ready to listen, dialogue and resolve all concerns.”
Speaking on the occasion, the Edo State Commissioner for Mines and Energy, Mr Donatus Ojiefoh, who represented the State Governor, Mr Godwin Obaseki, praised the company’s management for taking the path of peace with its host communities pledging by so doing, that the state governor will always support any investors who wants to invest in the state.
He assured the people of the communities that more investors are willing to come and invest in the state but that the people must be willing to cooperate and provide the enabling environment for them to operate.
In her remarks, the Chairman of the Etsako East Local Government, Mrs Benedicta Atu, commended the company for signing the agreement despite the odds and the delay occasioned by some factors saying it was good that the signing took place at the time.
The Secretary of Ukhomunyio Council of Village Heads, Mr Afiabor Peter, thanked Dangote Cement for the deal, expressing confidence that all that was contained in the agreement were thorough reflections of the wishes and aspirations of the host communities and promised that the host communities would be up and doing to fulfil their side of the bargain.
By Dipo Olowookere
A $15 million debt facility has been obtained by Watt Renewable Corporation from the AfriGreen Debt Impact Fund to finance hybrid solar power plants to be built and operated by the former, especially in Nigeria.
WATT intends to use the projects to serve commercial and industrial clients in Nigeria, particularly in the telecommunication and financial services sectors.
By integrating solar hybrid solutions, the firm aims to significantly reduce diesel consumption and CO2 emissions, enabling its clients to achieve substantial energy cost savings while promoting environmental sustainability.
As a pioneer in renewable energy solutions, WATT continues to drive innovation in Nigeria’s energy sector.
The company’s robust roll-out plan includes deploying hundreds of hybrid solar power sites nationwide to meet the growing energy demands of commercial & industrial clients.
This strategic expansion aligns with WATT’s vision to revolutionize energy access across Africa, enabling sustainable development and reducing reliance on fossil fuels.
The funds from AfriGreen provide the critical capital needed to accelerate WATT’s ambitious projects, strengthening its market position and empowering businesses with reliable and affordable energy solutions.
Business Post gathered that to mitigate the currency risk for WATT in the event of devaluation of the Nigerian Naira, AfriGreen is offering a local currency facility that matches the payment structure of the power purchase agreements.
“We are thrilled to partner with AFRIGREEN on this transformative journey to expand reliable and sustainable energy solutions across Africa.
“With this support, it enables us to accelerate our shared mission of providing hybrid solar power to businesses, reducing carbon emissions, and supporting economic growth while enhancing energy security for our clients,” the Managing Director of WATT, Mr Oluwole Eweje, said.
“We are delighted to support WATT in rolling out hundreds of hybrid sites across the country.
“This represents another key transaction for AFRIGREEN in Nigeria. The combination of high energy prices, good solar irradiation, and strong demand from industrial and commercial energy users makes this market particularly attractive for companies like WATT.
“By leveraging these favourable market conditions alongside WATT’s exceptional operational performance and a well-structured financing solution, we are setting the stage for a strong and lasting business partnership,” the Managing Director of AfriGreen, Mr Alexandre Gilles, stated.
By Adedapo Adesanya
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has denied issuing a directive that gas supply to power generating companies (GenCos) be halted.
In a statement on Wednesday, the authority also denied instructing wholesale gas suppliers to stop further supply of gas to companies due to failure in payment obligations.
The NMDPRA described reports stating that it has directed the stoppage of gas supply to GenCos over N2 trillion debt as “false and completely unfounded”.
“It has absolutely no bearing on the information shared at a recent stakeholders’ engagement held in Lagos between the Authority, the OPTS, IPPG and other stakeholders in the oil and gas industry,” the NMDPRA said.
“The purpose of the engagement was to sensitise stakeholders on the requirements, opportunities and benefits associated with the implementation of the wholesale supply license as provided by sections 142 and 197 of the Petroleum Industry Act (PIA) 2021.
“It was a follow-up to an earlier stakeholder engagement held at the NMDPRA corporate headquarters in Abuja on November 27, 2024.
“The Authority wishes to reassure all our stakeholders and indeed the general public that at no time was the false statement made at that event and anywhere else, and are advised to completely disregard the publication as every effort is being made to ensure that the supply and distribution of natural gas and petroleum products to end users is seamless and unabated as we head into the festive season and indeed all through the coming year 2025.”
Recall that Nigeria’s national grid experienced another collapse on Wednesday, the 11th time in 2024 as Gencos couldn’t generate enough power, compounding issues facing the Nigerian power sector.
This was the first time in over a month as the last time the nation witnessed a nationwide shutdown in electricity supply was on November 7, 2024.
Before then, the country was experiencing an incessant collapse of the grid, which prompted the federal government to set up a team to address the issue.
By Aduragbemi Omiyale
Nigeria is currently experience a cut in power supply after the national grid collapsed for the 11th time in 2024.
This is the first time in over a month as the last time the nation witnessed a nationwide shut down in electricity supply was on November 7, 2024.
Before then, the country was experiencing an incessant collapse of the grid, which prompted the federal government to set up a team to address the issue.
However, just when Nigerians were thinking they will not witnessed another national grid collapse in the year, it issue reared its ugly head again.
On Wednesday afternoon, most of the energy distribution companies suffered power outage, prompting them to inform their customers of the situation.
One of the DisCos, Ikeja Electric Plc, in a message to electricity consumers under its franchise area, said, “Please be informed that we experienced a system outage today, December 11, 2024, at about 13:32 hours affecting supply within our network.
“Restoration of supply is ongoing in collaboration with our critical stakeholders. Kindly bear with us.”
Recall that on Tuesday, in a report, Google listed national grid as one of the top trending searches by Nigerians this year.
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