General
My UN Trip Successful—Buhari
By Dipo Olowookere
President Muhammadu Buhari has described his trip to the United States of America (USA) for the 71st Session of the United Nations General Assembly (UNGA71) as very successful.
Mr Buhari, in a statement issued by one of his image-makers, Mr Femi Adesina, said Nigeria gained a lot from his five-day journey to New York, where the event precisely took place.
“I highlighted the need for the international community to work together to liberate humanity from poverty, save our planet from the devastation of climate change and rid the world of terrorism for a more peaceful and prosperous future,” the President told journalists.
Mr Buhari was further quoted in the statement to have told world leaders at the occasion that, “The plight of Internally Displaced Persons (IDPs) arising from Boko Haram terrorism is of particular concern to us.”
“For this reason, we have taken concrete steps to address their humanitarian needs and to ensure that necessary conditions are established to enable the voluntary return of the displaced persons to their homes in safety and dignity,” he said.
While acknowledging that “Nigeria as a developing country has been adversely affected by the global economic downturn,” he however, stressed that “we are undeterred and have embarked on a wide range of reforms in our efforts to diversify our economy and shift emphasis to mining, agriculture, industrialization, infrastructure development and the creation of the enabling environment for Foreign Direct Investment.”
The President noted that “fighting corruption remains of prime importance to our administration,” adding that the campaign is already yielding positive gains including significant stolen assets recoveries.
The President stated clearly Nigeria’s position on Climate Change, development in developing countries, youth development, statehood for the Palestinians, and reform of the UN Security Council with Nigeria ready to serve on a reformed Council to “advance international peace and security.”
President Buhari listed his meetings with world leaders and the benefits from some of the side events such as the US-Africa Business Forum during which discussions focused on how top American business executives “can collaborate with us to diversify our economy, which will in turn drive development, job creation and general business development in Nigeria.”
He mentioned his meeting with top Nigerian professionals in the United States and the urgent need to reclaim the shrinking Lake Chad, even as he expressed delight that “some countries notably the United Kingdom and United States pledged additional support in the tune of US $391 million humanitarian aid for the Lake Chad region.”
President Buhari used the occasion of the media event to thank relevant United States authorities for efficient security and administrative arrangements and officials of the Nigerian Ministry of Foreign Affairs for demonstrating “that we still have capable officers in our Foreign and Civil Services.”
He commended the Nigerian officers for the “tireless effects in projecting a positive image to our country, even in difficult times.”
President Buhari did not forget members of the Nigerian media, as he thanked them for “going through elaborate security checks and clearance procedures to follow my activities and hectic schedule in order to keep all our people at home well informed of my meetings and engagements.”
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.
-
Feature/OPED5 years agoDavos was Different this year
-
Travel/Tourism8 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz2 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking6 years agoSort Codes of GTBank Branches in Nigeria
-
Economy2 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking2 years agoFirst Bank Announces Planned Downtime
-
Sports2 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn
-
Technology4 years agoHow To Link Your MTN, Airtel, Glo, 9mobile Lines to NIN