Business
Tinubu, German Chancellor back Siemens electricity, railway projects in Nigeria
Tinubu, German Chancellor back Siemens electricity, railway projects in Nigeria
President Bola Tinubu and German chancellor Olaf Scholz have affirmed that power project deal with Siemens AG will be given priority attention.
They also expressed support for the company to build a high-speed railway network in Nigeria.
A statement released by Ajuri Ngelale, presidential spokesperson, said Tinubu spoke with Scholz on the sidelines of the G20 Compact with Africa economic conference, in Berlin, Germany, on Monday.
In 2019, under the presidential power initiative (PPI), Nigeria signed a deal with Siemens, Germany-based firm, to deliver 7,000 megawatts (MW) of electricity to the national grid by 2021, and 11,000 megawatts by 2023 — in phases one and two of the initiative, respectively.
The deal between the Nigeria and Siemens was with the support of the German government.
A year later, the Federal Government approved the payment of €15.21 million and N1.708 billion as counterpart funding for the project.
In December 2021, the Federal Executive Council (FEC) also approved $1.9 million and €62.9 million for phase one of the project which sought to modernise, rehabilitate, and expand the national grid.
Abubakar Aliyu, former minister of power, had said the three-phased project would expand Nigeria’s electricity to 25,000MW when completed, and “commence in the first quarter of 2022”.
But the project has since been behind schedule.
In August, Oladayo Orolu, head of business development and government relations, said plans to complete the revamping of Nigeria’s power infrastructure would take an additional five years than originally planned due to delays caused by the (COVID-19) pandemic.
Orolu also cited “high prices” of materials as a reason for the delay.
According to Ngelale, Tinubu assured the German chancellor that unsteady implementation of the PPI would now have a more deliberate process of project execution.
“For me, I am very much committed to pursuing all aspects of the Siemens Power project and the skill development opportunities that will emerge from that project for our talented youths who can participate in sustaining the industry,” Ngelale quoted his principal as saying.
Tinubu also expressed his interest in the new 2,000km high-speed rail network Siemens is presently constructing across 60 cities in Egypt, urging the German company to replicate the advancements in Nigeria.
While Scholz expressed readiness, he said there was a need to resolve the current administrative and financial hurdles brought about by governance problems.
“I know that there is a lot of work that has been done. There is already a big production of electricity in Nigeria, but it is not getting to the population,” he said.
“Of course, this has to do with the need for a provision of stations and infrastructure on the grid.
“Siemens has developed the plan and is ready to deepen implementation, but it is now up to your new government to take the follow-up action that you are now committed to taking.
“On the railway plans, Siemens will be very happy to do this when more progress is made on the power project which has been started already.”
In response, Tinubu said he was determined to prove foreign investors who are still “paranoid” about the Nigerian business system wrong.
Scholz expressed optimism for Nigeria’s growth, saying “there is nothing too unique on the growth of China”.
“It came down to a lot of investment from overseas that leveraged on cheap and skilled labour with adequate internal infrastructure and shipping infrastructure for imports and exports to flow easily,” he added.
“These things are possible in Nigeria. You even have abundant natural resources. Step by step, it is achievable, Mr. President,” he added.
Aviation
Disaster averted as bird strike hits Abuja-Lagos Air Peace flight
Disaster averted as bird strike hits Abuja-Lagos Air Peace flight
An Abuja-Lagos flight was on Thursday aborted following a bird strike on the airplane belonging to Air Peace, forcing the authorities to ground the aircraft.
The bird strike experienced in the early hours reportedly prompted a ramp return to ensure the safety of passengers onboard.
All the passengers quickly disembarked and were calmed down before they were moved into another plane for the one-hour journey.
A bird strike is a collision between a bird and an aircraft, or other airborne animal, while the aircraft is in flight, taking off, or landing. And it can be a significant threat to aircraft safety.
Air Peace in a statement by its Head of Corporate Communications, Ejike Ndiulo, said the bird strike occurred at 6:30am, and all passengers disembarked normally.
The statement read, “We wish to inform our esteemed passengers that our Abuja- Lagos 06:30 flight experienced a bird strike before take-off, prompting a ramp return as a safety measure. All passengers disembarked normally.
“We have deployed a replacement aircraft for the affected flight in order to minimize disruptions, thus ensuring that passengers continue their journeys promptly.
“We appeal for the understanding of our valued passengers impacted by this development, as well as those on other flights that may experience delays.
“At Air Peace, we are committed to providing safe, comfortable, and reliable air travel for all our passengers.”
Business
NNPC achieves 1.8mbpd crude oil production
NNPC achieves 1.8mbpd crude oil production
The Nigerian National Petroleum Company Limited (NNPC Ltd) and its partners have revved up crude oil and gas production to 1.8million barrels per day (mbpd) and 7.4standard cubic feet per day (scfd).
The company which announced this at a press briefing said the feat was achieved in compliance with the mandate of President Bola Ahmed Tinubu.
Speaking on the development, the Group Chief Executive Officer, Mr. Mele Kyari, congratulated the Production War Room Team that anchored the production recovery process.
“The team has done a great job in driving this project of not just production recovery but also escalating production to expected levels that are in the short and long terms acceptable to our shareholders based on the mandates that we
have from the President, the Honourable Minister, and the Board,” Kyari explained.
Giving details of the efforts of the Production War Room, the Chief War Room Coordinator and Senior Business Adviser to the Group Chief Executive Officer, Mr. Lawal Musa, disclosed that the feat was achieved through the collaborative efforts of Joint Venture and Production Sharing Contract partners, the Office of the National Security Adviser, as well as government and private security agencies.
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He said the interventions that led to the recovery of production cut across every segment of the production chain with security agencies closely monitoring the pipelines.
He stressed that when the Production War Room team was inaugurated on 25th June 2024, production was at 1.430mbpd, but the team swung into action, culminating into sustaining the production recovery to 1.7mbpd in August and hitting the current 1.808mbpd in November.
“We are confident that with this same momentum and with the active collaboration of all stakeholders, especially on the security front, we can see the possibility of getting to 2mbpd by the end of the year,” he stated.
Also speaking on the development, Chairman of the NNPC Ltd Board of Directors, Chief Pius Akinyelure, who also congratulated the team, said he was happy to be part of the production recovery process, adding: “today, I will leave this place with my heart full of joy”.
He charged the Company’s Management to come up with a cashflow projection based on the new production figures to facilitate planning, stressing that he was looking forward to further production increase to 3mbpd.
On his part, the Honourable Minister of State for Petroleum (Oil), Senator Heineken Lokpobiri, expressed satisfaction with the performance of the team and pledged the Federal Government’s support for the company to do more.
NNPC achieves 1.8mbpd crude oil production
Business
FG gets fresh $134m loan from AfDB for agric projects
FG gets fresh $134m loan from AfDB for agric projects
The Federal Government has secured a loan facility of $134million from the African Development Bank (AfDB) to help farmers boost seeds and grain production in the country.
This is contained in a statement issued by Anthonia Eremah, Chief Information Officer, Ministry of Agriculture and Food Security, on Thursday, in Abuja.
Minister of Agriculture and Food Security, Sen. Abubakar Kyari, made his know at the unveiling of the 2024/2025 National Dry Season Farming in Calabar, Cross River State capital.
Kyari explained that with the re-introduction of the national dry season farming to boost year-round agricultural production, the loan would be handy and guarantee national food security in the country.
The minister said the initiative is under the National Agricultural Growth Support Scheme-Agro Pocket (NAGS-AP) Project.
He said the federal government had declared an emergency on food production to enable all Nigerians to get easy access to quality and nutritional food at affordable rates.
Kyari also said government wants to use the agricultural sector for national economic revival through increase in production of some staple food crops such as wheat, rice, maize, sorghum, soybean, and cassava during both dry and wet season farming.
He added that 107,429 wheat farmers were supported under phase 1 of the 2023/2024 dry season, and 43,997 rice farmers under the second phase of the 2023/2024 dry season.
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The minister said recently, government supported 192,095 rice, maize, sorghum/millet, soyabean and cassava farmers under the 2024 wet season across the 37 States including the FCT.
He said Cross River was leading 16 other states in wheat production, adding that over 3000 wheat farmers have been listed to benefit from the support to grow the grain.
Kyari noted the Cross River government’s commitment to wheat production.
He said it informed why the federal government is partnering with the state to kick start the maiden wheat production and enlisting them among states commencing the current 2024/2025 dry season farming.
“The 2024/2025 dry season farming, the project is targeted to support 250,000 wheat farmers across the wheat-producing states with subsidised agricultural inputs.
“This is to cultivate about 250,000 hectares with an expected output of about 750,000 metric tonnes of wheat to be added to the food reserve to reduce dependence on importation of the product and also increase domestic consumption.
“Equally the programme will provide support to 150,000 rice farmers under the second phase to cover all the 37 states, including FCT, with an expected output of about 450,000 metric tonnes,” he said.
FG gets fresh $134m loan from AfDB for agric projects
(NAN)
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