Joseph Bakare The Director General (DG) of the National Youth Service Corps (NYSC) Brigadier General YD Ahmed has appreciated the gesture by the Nigerian Communication Satellite (NigComSat), under the leadership of its Managing Director, Engineer Nkechi Jane Egerton-Idehen to support the NYSC Television Station with services that will upgrade the quality of its broadcast. General Ahmed said the gesture would be accorded every necessary support from the Scheme. Speaking further, the Director General added that NYSC in fulfilment of its mandate to mobilize Nigerian graduate youths for national development, would continue to supply manpower to various Agencies and…
Author: Orientalnews Staff
Yemisi Izuora The Commissioner For Insurance and Chief Executive of National Insurance Commission (NAICOM), Mr Olusegun Omosehin, has identified the critical role insurance plays int strengthening the economy. However, he says the insurance industry’s financial soundness and stability are essential for supporting businesses and contributing to the $1 trillion economy projected by the present administration for achievement by 2030. Omosehin said this in his remark at the 9th Annual Conference of the Nigerian Association of Insurance and Pension Editors (NAIPE) on Tuesday in Lagos, with theme: “Towards A $1 Trillion Economy: Roles of Insurance and Pension Sectors.” Omosehin who was represented by…
By Dr Ronke Adewale-Johnson “It’s an unfathomable paradox”, ruefully stated the woman sitting next to me at the discussion segment of the three-day Energy Summit at the Landmark Events Centre when the 2024 annual conference started on Tuesday, October 15, “that a country so blessed with brilliant and talented persons could be in the present development morass”. The lady, in her early 30s and from one of the largest commercial law firms in the country, was impressed, like the rest of the considerable audience, at the presentations of executives of different power generation firms in the country. The discussants…
Uche Cecil Izuora There are evidence showing that producers of crude oil and natural gas will invest more in their business next year amid a stumbling transition away from hydrocarbons. The development may come as a surprise in the context of ever more transition commitments on the part of governments, but it simply proves one thing: while there is demand, there will be supply. Investments in oil and gas among the 23 biggest producers in the world are set to climb by over 60 per cent by next year, compared to the trough of 2020 and the pandemic lockdowns.…
Vincent Ezenagu The European Union (EU) is “sticking to its controversial plans” for curbs on combustion engines from 2035, despite heavy pressure from the car industry to water down the incoming rules, reports the Financial Times. The newspaper says it has seen “answers prepared for the bloc’s climate chief Wopke Hoekstra for when he faces parliamentary hearings next month”, which say that the EU “cannot and should not roll back” its plan to outlaw the sale of new cars powered by fossil fuels. The law, announced in 2021, “has come under fire from Europe’s carmakers as they struggle with flagging…
Tunde Bakare More investment in the power sector is expected by Nigerian Government after it launched the Renewables Investment Platform for Limitless Energy (RIPLE) with $500 million from the Nigeria Sovereign Investment Authority (NSIA). Also, through the through the Ministry of Power the Government has mobilised over $1 billion to de-risk projects and attract additional investments. The Minister for Power, Adebayo Adelabu speaking on the issues said that the Ministry worked out plans with the World Bank’s $750 million Distributed Access through Renewable Energy Scale-up (DARES) program scheduled to commence in November. This is intended to deliver electricity to…
Valentine Okafor A fuel tanker explosion in northern Nigeria has reportedly killed 147 people and injured 70, according to emergency services and the police. The blast, which happened late evening local time on Tuesday in Majiya, a village in Jigawa state, occurred after the vehicle crashed and while locals were attempting to steal fuel. “The driver lost control and the tanker somersaulted and spilled fuel into a drainage ditch,” Jigawa Police spokesperson Shiisu Lawan Adam said. “As a result, residents rushed to scoop the fuel when the explosion happened.” A mass burial was held on Wednesday afternoon for the victims, Adam…
Joseph Bakare Nigeria is considering a new infrastructure option in the electricity sector to address incessant grid disruption and collapse that throws the nation into darkness when it occurs. The Minister of Power, Adebayo Adelabu, spoke on the viable option to establish power grids in different regions or states to put an end to incessant grid collapses. The Minister made the announcement on Wednesday when he unveiled Hexing Livoltek, an electricity meter manufacturing company in the Lekki area of Lagos State, during which he admitted that grid collapses are almost inevitable in Nigeria given the deplorable state of the…
Roland Iwuchukwu Expert opinion has suggested that Nigeria’s struggle to align its crude production with the budget benchmark of 1.78 million barrels showcases underlying obstacles. It is also observed that the path ahead for Nigeria’s oil sector remains intricate, demanding strategic interventions to enhance production levels and align with the Organization of Petroleum Exporting Countries (OPEC’s ) mandates amidst a volatile global energy landscape. This view was expressed by Temitope Kolade, Senior Manager of the Oil, Gas, and Power Unit at Andersen Nigeria, who shed light on the challenges and dynamics shaping production volumes in a recent CNBC Africa…
Yemisi Izuora Indication are strongly suggesting that key initiatives by governments and countries to reduce carbon emissions are exponentially challenged with daily rise in energy demand. In its latest “world energy outlook” annual report, the International Energy Agency (IEA) warns that demand for electricity around the world is rising faster than expected, making it harder for countries to cut carbon emissions, the New York Times reports. The IEA says that, over the next decade, the world could add the equivalent of Japan’s annual electricity demand to grids each year, driven by demand for new factories, electric vehicles, air-conditioners and…