General
Hunger on the Rise in Africa—UN
By Dipo Olowookere
A new United Nations report reveals that hunger is on the rise in Africa following years of decline due to a number of reasons, including difficult global economic conditions, adverse climatic conditions due to El Niño and soaring staple food prices.
Titled The 2018 Africa Regional Overview of Food Security and Nutrition Report, the joint UN Report reveals that the prevalence of undernourishment continues to rise and now affects 20 percent of the population on the continent, more than in any other region.
After years of decline, recent statistics from the joint report of the Economic Commission for Africa (ECA) and the Food and Agriculture Organization of the United Nations (FAO) show that there are 821 million undernourished people in the world.
Of these, 257 million are in Africa, of which 237 million in sub-Saharan Africa and 20 million in Northern Africa. Compared to 2015, there are 34.5 million more undernourished people in Africa.
Nearly half of the increase is due to the rise in the number of undernourished people in Western Africa, while another third is from Eastern Africa.
In her speech during the launch of the report, ECA’s deputy Executive Secretary, Giovani Biha, said the report sounds alarm bells for the continent, adding at this rate, Africa does not seem to be on track to achieve sustainable development goal number 2, which is zero hunger
“Interestingly, African economies grew at impressive rates often exceeding five per cent over the past decade spanning from 2004 to 2014. However, poverty and hunger are still hanging in as significant economic growth has not been integrated and inclusive,” she said.
She said to achieve the SDGs by 2030, including SDG 2, Africa needs to enact reforms that would help build resilience, and raise potential growth and its inclusiveness.
Achieving this would require policies to enhance the continent’s structural transformation efforts through the facilitation of the reallocation of labour and capital towards more productive sectors of national economies, including modernizing the agriculture sector.
Food insecurity in some countries in Africa has been worsened by conflict, often in combination with adverse weather, which has left millions of people in need of urgent assistance.
For her part, Ms Maria Helena Semedo, Deputy Director-General, FAO, said it is sad that after years of progress, the continent was regressing in its efforts to improve food security.
“Policy-makers must work towards scaling-up actions to strengthen the resilience of people’s livelihoods, food systems and nutrition to climate variability and extremes,” she said, adding the FAO will continue to work with its partners in an effort to combat hunger on the continent.
Based on ECA research, countries need to address food and nutrition insecurity within a holistic approach, one built around six main lines of action that involve dealing with water, energy and food stress, with a view to managing natural resources sustainably to secure land and water rights and creating a macroeconomic environment that promotes the efficient use of natural resources; integrating food security into rural and agricultural transformation programmes, with the aim of enhancing the resilience of rural residents; developing pro-poor policies that enhance the purchasing power of poor people; developing national approaches to food and nutrition security that are resilient to shocks and other stresses; encouraging and facilitating a multi-sectoral approach to food security and resilience through coordinating plans and programmes across line ministries; and orienting national food security policies towards more domestic food self-reliance, within a sub-regional/regional economic community perspective.
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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