General
Kagame, Elumelu for Young Entrepreneurship Day at Africa 2017 Forum
By Dipo Olowookere
Rwandan President, Mr Paul Kagame, who doubles as Chairman of Smart Africa, will be headlining the Young Entrepreneurship Day (YED) at the Africa 2017 Forum alongside and Mr Tony Elumelu, founder of the $100m Entrepreneurship Programme.
The YED is a new addition to the Forum and will take place on the eve of Africa 2017, on the 7th December.
It has been designed to connect some of Africa’s most promising entrepreneurs and also give them exposure to investors, incubators and accelerators as well as to partake in workshops that will give them the skills and tools to scale up their businesses.
Both Mr Kagame and Mr Elumelu have been championing entrepreneurship and will be sharing their perspectives both from government and the private sector as well as engaging in an open platform with some of the upcoming leaders from across Africa
Sitting on the advisory board of the YED are Issam Chleuh and Rebecca Enonchong, two of the foremost players in impact investing and in the technology space in Africa as well as Parminder Vir, CEO of the Tony Elumelu Foundation. Other speakers at the YED include Ben White of VC4Africa and Wale Ayeni from IFC Ventures, the venture capital wing of the World Bank’s private sector arm.
Commenting on the YED, the Minister of Investment and International Cooperation Dr. Sahar Nasr, whose ministry is organising the Africa 2017 programme alongside COMESA Regional Investment Agency, said that creating a pro-business environment for entrepreneurs to thrive is at the centre of her government’s policies. “Egypt has been at the forefront of making entrepreneurship work. With a bustling population of 90 million, 50% of which are below the age of 30 and tech savvy, Egypt is rightly staking a claim as one of the fastest growing entrepreneurial hubs in the world.”
Africa 2017 has been earmarked as the biggest B2B and B2G gathering to take place in Africa this year. A number of heads of state have confirmed their attendance and there are 30 African investment promotion agencies and government delegations scheduled to attend.
Alongside President Al Sisi of Egypt and President Kagame of Rwanda, the Presidents of Côte d’Ivoire, Alassane Outtara will be in attendance as well as the President of Comoros, Azali Assoumani and the Prime Minister of Mozambique Carlos Agostinho do Rosário.
Some of Africa’s biggest names from business will also be attending Africa 2017, with the aim to accelerate cross-border investments and partnerships.
The Forum will also be a platform for Egypt to showcase some of the mega projects that are underway and the opportunities linked to these in agribusiness, logistics, mining, energy construction, real estate and tourism.
General
Oladiti Eyes NUPENG Presidency as Akporeha Bows Out
By Adedapo Adesanya
Mr Salimon Akanni Oladiti is in pole position to take over the presidency of the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG).
According to reports, Mr Oladiti, who is the current National Trustee of the union, will take over from Mr Williams Akporeha, who is set to exit office at the end of April after eight years at the helm.
Mr Akporeha announced his departure at the weekend during the Quarterly National Executive Council meeting of the Petroleum Tanker Drivers (PTD) Branch in Warri, Delta State.
He noted that the union will elect a new president on April 24 in Lagos.
If Mr Oladiti, a former PTD National Chairman, emerges as the president of the union, it would be the first time a PTD member ascends to NUPENG’s top office.
The move gained momentum at the meeting, where Mr Joseph Okafor moved a motion for Mr Oladiti’s unanimous ratification, seconded by Mr Adekunle Akinlaja.
Mr Akporeha expressed gratitude to PTD members for their steadfast support throughout his tenure.
“Eight years ago, you stood by me in this same room. You didn’t only stand by me, you supported me. When things were tough, you were there through all the challenges.
“I want to appreciate all of you. If I stand to support one of your own as President, I have no apology. If I had done anything otherwise, my conscience would have troubled me. God used you to install me,” he said.
He urged members to rally behind Oladiti and the newly elected PTD National Chairman, Mathias Ote, to sustain the union’s stability and growth.
“By the grace of God, as I move along, I want to see a union stronger than I left it. I don’t want to see PTD go into disarray. The greatest favour you can do is to support this man whom you have elected today as your national chairman. Also support your own that will be the President, by the grace of God, on April 24,” he added.
On his part, the President of the Nigerian Association of Road Transport Owners (NARTO), Mr Lawal Yusuf Othman, commended NUPENG for steering a peaceful transition.
“I once again want to appreciate NUPENG. NARTO will continue to give you the necessary support,” he said.
General
Hardship: Tinubu Should Refrain From Self-Consolation, Take Responsibility—Peter Obi
By Modupe Gbadeyanka
The candidate of the Labour Party in the 2023 presidential election, Mr Peter Obi, has knocked President Bola Tinubu for downplaying the hardship Nigerians are going through.
The former Governor of Anambra State was reacting to remarks by Mr Tinubu that Nigerians should be grateful for not going through what Kenyans are experiencing due to a hike in petrol prices as a result of the war in Iran, triggered by the United States and Israel.
During a visit to Bayelsa State over the weekend, President Tinubu said, “Let’s just thank God together that you are better off listening to them in Kenya and other African countries. What they are going through.”
But Mr Obi frowned at the President’s statement, saying key development indicators such as security, the Human Development Index, life expectancy, GDP per capita, literacy levels, and electricity access show Kenya outperforms Nigeria.
According to him, the standard of living of Kenyans is better than that of Nigerians, noting that if the President considers Kenyans to be suffering despite these stronger figures, then Nigerians are in a far more difficult situation.
He advised Mr Tinubu to “refrain from self-consolation and, in honest reflection, take responsibility for the situation and make a determined effort to drive improvement.”
He submitted that, “This requires a posture of humility, accountability, and commitment to addressing the factors that have slowed Nigeria’s development.”
Mr Obi noted that, “Nigeria is the fourth most terrorised nation in the world, while Kenya is not among the ten worst. Kenya’s HDI ranking is 143 out of 180 countries, with a coefficient of about 0.630, compared to Nigeria’s ranking of 164 out of 180, with a coefficient of about 0.530. Its GDP per capita is roughly $2,200–$2,300, compared to Nigeria’s $807–$835.
“Kenya’s poverty rate is about 43 per cent of the population (approximately 23 million people), while Nigeria’s is about 63 per cent (around 150 million people), over six times that of Kenya. Kenya’s life expectancy is about 67 years, while Nigeria’s is about 54 years. The literacy rate in Kenya is approximately 81–85 per cent, compared to Nigeria’s 62–65 per cent.
“Kenya’s electricity access is higher, while Nigeria has one of the lowest levels of electricity access in the world. Kenya has about 3.5 million out-of-school children, while Nigeria has about 20 million. Kenya’s inflation rate has been about 4.5 per cent or lower over the past three years, while Nigeria’s has remained above 15 per cent within the same period.
“Kenya’s exchange rate has been around USD 1 to KES 130 over the past three years, whereas Nigeria’s exchange rate rose from below N500/$1 to above N1,250/$1 within the same period. Even with developments in the Middle East and rising oil prices, Kenyans have not experienced the sharp increases in petroleum product prices seen in Nigeria.”
The chieftain of the African Democratic Congress (ADC) said while the President’s comments “may have been intended to soften the impact of economic hardship and rising fuel prices,” they risk downplaying the severity of the current crisis.
“It echoes the biblical parable of the Pharisee and the Tax Collector in the Gospel of Luke (18:9–14). A similar warning is found in the Qur’an (53:32), which cautions against self-righteousness.
“Like the Pharisee who boasted of his superiority over others to mask his own spiritual void, such downward comparisons serve more as a refuge than a remedy.
“This validated an earlier dismissive remark by President Ahmed Bola Tinubu during electioneering: Na statistics we go shop? Yet statistics remain indispensable – they are the language through which nations understand their condition and chart progress.
“No country can develop in isolation from measurable realities or without comparing itself with peers. Comparisons, when properly grounded, are not instruments of escapism but tools of accountability. What is objectionable is not comparison itself, but comparison stripped of credible, verifiable data—mere tax collector comparisons that soothe rather than solve,” he stated in his post titled From Pharisee to Tax Collector: Rethinking Tinubu’s Kenyan Comparison.
General
NUPRC Issues Directive on Measurement-Based Methane, GHG Reporting
By Adedapo Adesanya
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has issued a new directive mandating upstream oil and gas operators to adopt standardised templates and transition to measurement-based reporting of methane and greenhouse gas (GHG) emissions.
The directive was signed by the chief executive of the commission, Mrs Oritsemeyiwa Eyesan, on Monday and it takes immediate effect.
This is part of efforts to strengthen transparency, accountability, and alignment with Nigeria’s climate commitments under its Nationally Determined Contributions (NDCs).
According to the commission, all operators are now required to institutionalise credible Measurement, Reporting and Verification (MRV) systems for emissions tracking, moving away from estimation-based methods toward more precise, science-driven measurement approaches.
The regulator said the move is in response to increasing global pressure to limit temperature rise to 1.5°C, which has placed heightened expectations on fossil fuel producers to curb methane emissions and improve environmental performance.
NUPRC noted that since 2022, operators had been required to use the Intergovernmental Panel on Climate Change (IPCC) Tier 1 methodology for emissions estimation, but the new directive enforces a phased transition to more advanced systems.
Under the new framework, companies must adopt IPCC Tier 2 methodologies by the third quarter of 2026 and fully transition to Tier 3—considered the most accurate, measurement-based standard—by January 2027.
To ensure uniformity in reporting, operators are also mandated to comply with newly introduced templates, including the Greenhouse Gas Emissions Management Plan (GHGEMP) and standardised formats for methane and GHG emissions accounting and inventories.
The commission emphasised that all submissions must be verifiable, transparent, and evidence-based, in line with MRV principles, and must follow templates published on its official website.
While reaffirming the IPCC framework as the global standard, NUPRC stated that operators may align with other recognised frameworks such as OGMP 2.0, API, and ISO, provided submissions meet regulatory requirements.
The directive also acknowledges existing technical and infrastructural gaps within the industry. In response, the commission said it has begun capacity-building initiatives, including targeted workshops and guidance sessions, to support operators in the transition.
Nigeria has committed to achieving net-zero emissions by 2060, ending routine gas flaring by 2030, and cutting methane emissions by 60 per cent by 2035. The commission said achieving these targets depends on a robust, traceable, and internationally compliant emissions reporting system.
NUPRC added that the new measures are expected to enhance Nigeria’s credibility in global energy and climate markets while attracting climate-focused investments into the upstream sector.
The commission reiterated its commitment to supporting the industry through technical guidance and the deployment of MRV-enabling infrastructure.
-
Feature/OPED6 years agoDavos was Different this year
-
Travel/Tourism10 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz3 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking8 years agoSort Codes of GTBank Branches in Nigeria
-
Economy3 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking3 years agoSort Codes of UBA Branches in Nigeria
-
Banking3 years agoFirst Bank Announces Planned Downtime
-
Sports3 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn
