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Ecobank Gets Applause for Environment Protection

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Ecobank Nigeria’s environmental sustainability initiatives targeted at removing non-biodegradable elements particularly plastic bottles from the streets of Lagos has continued to generate commendation, recognition and goodwill from government officials, corporate organizations and well-meaning individuals.

At the weekend, Ecobank was also presented with the 2019 CSR Marble Award of Excellence at an event organized by a renowned public relations outfit, AS+A Communications in Lagos.

Speaking at the Corporate Social Responsibility (CSR) forum, exhibitions and awards ceremony in Lagos State, the State Commissioner for Information and Strategy, Gbenga Omotosho, said the award for Ecobank was well deserved, stressing that the Bank has demonstrated high degree of consistency in tackling environmental issues and thereby enhancing healthy living across the country.

Specifically, the Commissioner said Ecobank’s current efforts at removing plastic bottles from the streets of Lagos is assisting the government to make the environment safer for people to live, urging other Corporate organizations to emulate the Pan African Bank.

According to him, “We are impressed with what Ecobank is doing in the state ecosystem. Its collaboration with relevant government agencies as part of its CSR initiatives to get rid of used plastic bottles from streets is making the state safer for people to live and do business. I implore other Corporate organizations to partner with us to make the ecosystem safer for habitation.”

Speaking in the same light, President, African Public Relations Association (APRA), Mr. Yomi Badejo-Okusanya commended Ecobank for raising the bar of CSR activities in the protection of the environment. He advised the Bank not to relent in its efforts until a livable environment is achieved.

Managing Director, AS+A Communications, the organisers of the event said Ecobank deserves the award based on its past and current efforts in the protection of the environment. According to her, “annually, we recognize and honour socially responsible personalities and institutions of high esteem in areas of national development and most especially their land mark achievements in the area of human capacity development as well as other social and environmental development initiatives. Ecobank fit this description. We salute the bank’s initiatives and we believe this award would further spur them to do better in helping humanity.”

Responding, the Managing Director, Ecobank Nigeria, Patrick Akinwuntan, said the award validates the positive impact of Ecobank’s CSR strategy, noting that the award further reinforces the bank’s determination to support in the protection of the ecosystem.

According to him, it is a deliberate policy of Ecobank Nigeria to embark on sustainable projects that impact people and the environment. He noted that in May this year, Ecobank informed Lagos residents to exchange plastic bottles for cash at designated locations across the state.

The collectors are incentivized with N30 for every kilogram of plastic bottle collected. The bank he is said had set a target to remove 4 million plastic bottles, and so far,  over 2 million plastic bottles  have been successfully exchange for cash.

Mr. Akinwuntan also disclosed that a week tagged ‘Ecobank sustainability week’ was set aside in May, during which symposia was organised for secondary schools’ students to create awareness on tackling plastic wastes and other environmental issues amongst other activities that focus on environmental sustainability.

The bank Managing Director dedicated the award to staff and customers of the bank, who he said have worked relentlessly towards maintaining high sustainable standards that has earned them the award. He assured that Ecobank will continue to embark on initiatives that impacts the people, environment and the economy.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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NMDPRA Denies Restricting Gas Supply to Gencos

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ANOH Gas Plant

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.

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Power Outage in Nigeria as National Grid Collapses

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national grid collapse

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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NLNG to Replace Vessels in Move Towards Decarbonisation, Sustainability

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Nigeria LNG Limited NLNG

By Adedapo Adesanya

The Nigerian LNG Limited (NLNG), which produces Nigeria’s Liquified Natural Gas (LNG) and natural gas liquids (NGLs) for export, is planning to replace all its vessels with modern ships within the next decade.

This was disclosed by Mr Nnamdi Anowi, the General Manager of Production, NLNG, during the World Leaders’ Panel session on Tuesday in Berlin, Germany, as part of the 2024 World LNG Summit and Awards.

Speaking at the event themed “Achieving the Balance Between Energy Security and Decarbonisation,” he said the company which was incorporated in 1989 was making plans to boost its vessels to ensure proper transportation of gas for export.

“We are making significant strides in our shipping operations. Over the next 10 years, we aim to transition from our current steam-powered vessels to modern ships.

“Earlier this year, we took a major step by entering into a long-term chapter of our first modern ship Aktoras, and we are already planning to acquire a second ship next year,” he said.

On the critical issue of net zero emissions, Mr Anowi said that NLNG aspires to achieve net zero emissions by 2040.

According to him, this goal is attainable through implementing a combination of solutions that include operational efficiency, natural sinks/offset projects, carbon capture and storage (CCS), net zero expansion, digital solutions and shipping efficiency.

“Our pathway to net zero aligns with Nigeria’s target of reaching net zero by 2060, while many major players in the industry are aiming for 2050.

“We are actively expanding our initiatives in this area, including several low-carbon projects,” he explained.

Regarding Liquefied Petroleum Gas (LPG), Anowi noted that the company had committed 100 per cent of its LPG production (propane and butane) to the Nigerian market.

He pointed out the urgent need for cleaner energy, citing a report that revealed that not less than 100,000 Nigerians died yearly from smoke inhalation caused by cooking with firewood, predominantly affecting women and children.

“This underscores our commitment to sustainability. It’s important to recognise that about 80 per cent of Africans lack access to cleaner energy.

“When discussing sustainability, we can not overlook the necessity of providing energy to these communities,” he added.

He further elaborated on NLNG’s strategy, stating, “Our objective at Nigeria LNG is to maintain safety, enhance capacity, foster growth, and future-proof our business.

“The recent transformation programme includes a rebranding initiative, evidenced by the unveiling of a new logo and the company’s renewed purpose: providing energy for life’s sustainability.

Mr Anowi also noted that NLNG was working diligently to improve its production capacity from 23 million tons to 30 million tons through its Train 7 Project.

“We are actively engaging with stakeholders and the government to ensure our LNG trains are filled by the end of next year,” he said.

On sustainability, Mr Anowi explained that 75 per cent of NLNG’s emissions result from its operations, with the remaining 25 per cent coming from its shipping activities.

He emphasised the importance of measurement, reduction, avoidance and mitigation strategies in their sustainability efforts.

He said that the company was also exploring CCS opportunities through partnerships with the government and other international oil companies.

“We are in the early stages of CCS implementation, assessing potential reservoirs for this purpose,” he said.

In terms of renewable energy, Anowi said that NLNG was investigating solar power projects at its offices in Abuja and Port Harcourt as part of its broader sustainability initiatives.

“We are committed to abatement efforts and are collaborating with experienced private companies to explore carbon credit opportunities.

“We must balance sustainability with affordability and reliability in energy supply.

“The African region must progress at its own pace, prioritising immediate energy needs before addressing long-term sustainability goals,” he explained.

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