Connect with us

Latest News

Côte d’Ivoire Hosts SIREXE: African Leaders Discuss Sustainable Resource Development

Published

on

Nigeria has called for stronger governance, transparency, and collaboration among African leaders and industry stakeholders to fully capitalize on the continent’s natural resources for sustainable development. The Nigerian government emphasized its commitment to fostering an inclusive extractive industry based on transparency, regional cooperation, and local capacity building.....KINDLY READ THE FULL STORY HERE▶

During the inaugural International Exhibition of Extractive and Energy Resources (SIREXE) in Abidjan, Côte d’Ivoire, Vice President Kashim Shettima reinforced Nigeria’s position on the importance of effective institutions in converting natural resource wealth into national prosperity.

The summit, themed “Policies and Strategies for the Sustainable Development of the Extractive and Energy Industries,” brought together leaders from across Africa to explore innovative solutions for resource management and energy security.

Shettima underscored that the strength of governance institutions is pivotal in ensuring that Africa’s resource wealth benefits its people, stating, “This is not just about resources; it’s about people, prosperity, and posterity. With the right policies, transparency, and accountability, we can ensure that mineral wealth fuels development rather than division.”

He also highlighted Nigeria’s role as a leader in transparency reforms, noting that Nigeria was the first country to domesticate the Extractive Industries Transparency Initiative (EITI) in 2004. “Transparency is non-negotiable for building trust and ensuring inclusive benefits for all,” Shettima added.

The Vice President stressed the need for regional collaboration, stating, “Africa’s energy future is interconnected. Nigeria stands ready to share its experiences and work with ECOWAS partners to develop an extractive industry that works for all of us.”

Shettima also discussed the transformation of Nigeria’s oil sector following the restructuring of the Nigerian National Petroleum Corporation (NNPC) under the Petroleum Industry Act (PIA) of 2021, emphasizing its new role as a commercially driven entity.

He pointed to the success of Nigeria’s Local Content Act, which increased local participation in the oil and gas sector from 5% to nearly 30%, and highlighted the Dangote Refinery as a model of indigenous innovation and capacity building.

Addressing challenges like cartels and conflicts in resource-rich areas, Shettima called for investment in security measures to protect mining sites and ensure sustainable growth. “Africa is home to 40% of the world’s gold, 10% of its oil, and critical minerals like cobalt and lithium, yet our potential remains largely untapped. We must unite to unlock this potential,” he urged.

Côte d’Ivoire’s Vice President, Tremoko Meyliet Kone, also acknowledged the importance of collaboration and shared ideas in boosting job creation and maximizing natural resource benefits for citizens. He urged caution about the environmental impacts of mining, as Côte d’Ivoire continues its efforts to reduce pollution and emissions.

For More InformatioFn And News Update, Join Nivonews Whatsapp Channel With Link Below: https://whatsapp.com/channel/0029VaV4jB6DuMRgwqnJCF32 For advertisement inquiries only, kindly send a message to 0901064981For 4 on WhatsApp

Advertisement

Latest News

The Bulldozers Are Coming! Kano Targets Azman University In Massive Illegal Property Crackdown.

Published

on

Bayo Onanuga, Special Adviser to the President on Information and Strategy, has dismissed recent claims by 2027 presidential hopeful Peter Obi regarding Nigeria’s power generation goals. During an Arise Television interview, Onanuga clarified that Nigeria’s core electricity crisis stems from structural deficits—such as gas supply shortages, a $4 trillion legacy debt owed to suppliers, and an aging national grid—rather than a lack of generation capacity.....KINDLY READ THE FULL STORY HERE▶

Onanuga noted that the nation already possesses an installed capacity of 13,500 megawatts, exceeding Obi’s promise to add 10,000 megawatts. He argued that the former governor lacks a clear understanding of the existing infrastructure limitations. Furthermore, Onanuga highlighted that the Tinubu administration is actively tackling these issues through the Electricity Act, which decentralizes power management, and the establishment of the Grid Asset Management Company Limited (GAMCO) to improve performance. He maintained that power generation has seen marked improvement since the current administration took office in May 2023.

President Bola Tinubu’s aide, Bayo Onanuga, has challenged Peter Obi’s pledge to increase Nigeria’s electricity generation by 10,000 megawatts within four years. In a recent interview, Onanuga stated that Obi’s plan ignores the reality that Nigeria’s installed capacity is already 13,500 megawatts—a figure that remains underutilized due to structural failures.

Onanuga identified the country’s primary obstacles as an outdated national grid, chronic gas supply issues, and a massive legacy debt of over ₦4 trillion owed to gas companies. He asserted that the current administration is addressing these systemic problems through legislative reforms, specifically citing the Electricity Act, which allows states to manage their own power generation, transmission, and distribution. Onanuga concluded that electricity output has already trended upward since May 2023 and that the government’s focus remains on optimizing existing assets rather than merely chasing higher capacity targets.

Bayo Onanuga is pushing back against Peter Obi’s recent promise to boost Nigeria’s power supply by 10,000 megawatts. According to President Tinubu’s spokesperson, the real issue isn’t a lack of capacity, but a broken system.

Onanuga pointed out that Nigeria already has 13,500 megawatts of installed capacity, most of which sits idle due to three main roadblocks:

  • The Grid: Outdated infrastructure that cannot handle current demands.

  • Gas Supply: A crippling lack of fuel for power plants.

  • Legacy Debt: A massive ₦4 trillion debt pile-up owed to gas suppliers.

Onanuga credited the Tinubu administration with tackling these hurdles head-on, specifically through the new Electricity Act that empowers states to generate and distribute their own power. He insists that the sector is already performing better than it was in May 2023 and that the focus is on fixing the structural bottlenecks, not just expanding capacity.

Would you like me to focus on a specific aspect of this report, such as the economic implications or the political disagreement between the two figures?

Continue Reading

Latest News

Court Orders Probe Of Leaked Video In Alleged Coup Plot Trial

Published

on

On Tuesday, the Federal High Court in Abuja initiated an investigation into the unauthorized release of a video linked to the ongoing trial of six individuals accused of conspiring to topple President Bola Tinubu’s government.....KINDLY READ THE FULL STORY HERE▶

Investigation into the Leaked Video

  • Court Directive: Following a complaint from the Director of Public Prosecution (DPP), Rotimi Oyedepo (SAN), regarding a video statement that surfaced on the social media platform of influencer “VeryDarkMan” despite a court-imposed restriction, Justice Joyce Abdulmalik ordered the Department of State Services (DSS) to conduct an inquiry.

  • National Security Concerns: The DPP characterized the leak as a national security risk that prejudices the ongoing judicial proceedings, noting the video had already surpassed 6,000 views.

  • Defense Stance: While defense counsel denied involvement in the leak, they held varying views on a probe; some welcomed an investigation, while others, like Sanusi Musa (SAN), cautioned against acting without formal evidence.

  • Judicial Ruling: Invoking Section 232(5) of the Administration of Criminal Justice Act, 2015, Justice Abdulmalik mandated the DSS to identify and bring any responsible parties before the court, noting that such prosecution would be handled separately from the main coup trial.

Trial Testimony and Bail Proceedings

  • Witness Testimony: A prosecution witness, an Army officer codenamed “DDD,” testified that the investigation was conducted by a multi-agency team—including the Army, DSS, DIA, and EFCC—and explicitly denied that the defendants were chained, coerced, or tortured during interrogation.

  • Defense Challenges: During cross-examination, defense lawyers challenged the interrogation process, specifically noting the absence of family members or legal representation during the suspects’ questioning; however, the witness stated no such requests were made by the defendants.

  • Bail Applications: The court heard bail arguments from the defense, which the DPP opposed; Justice Abdulmalik has reserved her ruling on these applications and adjourned the trial-within-trial for the first three defendants until June 25 and June 30.

Continue Reading

Latest News

No Mercy! US Authorities Deport Nigerian Over “Violent Crimes” & Abuse Allegations!.

Published

on

  • Deportation of Nigerian National: A Nigerian citizen named Ayodeji Ajayi has been deported from the United States following a series of criminal convictions, which include domestic violence.....KINDLY READ THE FULL STORY HERE▶

    • Immigration Status: According to a statement released by US Immigration and Customs Enforcement (ICE) on their official account, Ajayi had been living in the US illegally for nearly two decades after failing to depart the country following the expiration of his student visa.

    • Criminal History: ICE reported that after abandoning his studies, Ajayi amassed a significant criminal record that includes convictions for domestic violence, trespassing, intimidation, and obstruction. Furthermore, his record includes charges involving kidnapping, rape, and family neglect.

    • Administrative Context: ICE attributed the removal of Ajayi to the immigration enforcement policies of President Donald Trump, noting the administration’s commitment to deporting criminal undocumented immigrants.

    • Missing Details: While the agency confirmed the deportation, they did not specify when it occurred, nor did they provide additional details regarding the jurisdictions of the convictions or the current status of his pending criminal charges.

    • Policy Enforcement: This action reflects the ongoing efforts by the Trump administration to intensify enforcement and increase the number of removals of undocumented individuals with criminal backgrounds across the United States.

Continue Reading

Trending

Copyright © 2023 NIVONEWS