NEWS
Energy Poverty Has to be Tackled Headlong — Osinbajo
Vice President Yemi Osinbajo says energy poverty has to be tackled headlong for African countries to attain middle-income status and an inclusive prosperity for its people.
Osinbajo’s spokesman, Laolu Akande, in a statement on Tuesday in Abuja, said the vice president delivered a Special Public Lecture at the University of Pennsylvania (UPENN) in Philadelphia, U.
S.The vice president spoke on the title “Energy Transition in Africa.
”Osinbajo outlined specific pathways that would lead to climate-positive economic growth on the continent and at the same time lead to the realisation of the global net-zero emissions targets.
“Africa’s endowments, renewable energy, natural resources and a young workforce, present a compelling set of circumstances for several pathways to climate-positive growth.
“Low emissions consumption and production, the point being that Africa can, instead of going the carbon-intensive path to providing energy, goods and services for its own needs, take full advantage of green technologies and practices.
“There is the distinct advantage that Africa can actually pursue a green course of growth without worrying about costly legacy infrastructure.”
The vice president said that second pathway had to do with the recognition that global zero carbon ambitions could be realised without intentional carbon removal technologies and practices.
He said that Africa could ramp up her own potential to do it at scale through a combination of planned land use and ecosystem management, and investment in emerging engineered removal technologies.
“The third pathway is that, with its abundant reserves of renewable energy and raw materials, Africa can become a hugely competitive green manufacturing and energy hub for the world that could also accelerate the greening of global industry.
“Thus, the paradox of an energy-poor continent becoming the green industrial powerhouse of the world is easily resolvable and must be.”
The vice president proposed that the developed world change its perception of Africa.
He charged that the continent should not be seen merely as a victim but as a solution in the climate change conversations and the attainment of the global net zero targets by 2050-2060.
On energy poverty, Osinbajo argued that it could only be resolved if there was a significant investment in renewable energy.
“And that can only happen if we create the energy intense anchor demand that makes the investment in additional renewable energy bankable.
“Therefore, it is not which comes first – renewable energy generation capacity or industrial deployment, both must be developed concurrently.”
Osinbajo also spoke on Africa’s dependence on its oil and gas resources.
He said that the use of gas as a transition fuel would not significantly derail the commitment to carbon-negative growth.
“Nigeria’s Energy Transition Plan attempts to chart an energy transition pathway which has as its bedrock, the development of renewable energy, specifically solar.
“The plan is to develop 250 gigawatts of solar capacity by 2060.
“The plan outlines our decarbonisation strategies in the areas of power, oil and gas transportation; it also militates against medium to long-term job losses in an industry that has dominated the economy for decades.
“It recommends the role of gas as a transition fuel, to balance large influxes of solar power on the grid, its use as a cheaper, and relatively clean option for base load power for industry, as we watch the cost of solar batteries plunge.
“There are also practical ways in which gas, especially propane, will bridge the gap before the full use of renewables is commercially practical.
“To illustrate the point practically, recently some discussions have been taking place about the decommissioning of industrial scale diesel and petrol generators used at base stations of telecommunication companies in Nigeria,” he said.
Previous speakers who had featured at the UPENN Special Lecture series hosted by the U.S. Ivy League University’s Centre for Africana Studies, include Nobel Laureate, Prof. Wole Soyinka and the President of Botswana, Mr Mokgweetsi Masisi.
Earlier in her welcome remarks, Prof. Beth Winkelstein, Interim Provost, UPENN, said that the planet was facing an existential struggle against climate change for the earth.
“And indeed for us to last, we must join with our fellow nations around the world in this struggle.
“Like many countries, including the United States, Nigeria is challenged by competing and sometimes conflicting interests and its development prospects are complex.
“Nigeria holds amongst the continent’s largest proven oil reserves and faces a potentially perilous future of climate-induced sea level rise and drought.
“In short, global progress in the battle against climate change needs Nigeria’s partnership and participation,” she said.
On his part, Prof. Tukufu Zuberi of the Africana Centre, spoke about the relationship between the university and Nigeria.
He thanked the vice president for honouring the institution’s invitation, noting that the lecture series was part of its efforts in correcting the negative perceptions about Africa.
“Africa in many ways, has not been treated fairly in conversations, often this treatment is simply a result of not understanding Africa,” he said.
After the lecture, Wale Adebanwi, Professor of Africana Studies at the University of Pennsylvania, led an interactive session with the vice president.
Earlier on arrival, Osinbajo had met with the leadership of the university and was later conducted around the Penn Museum by Prof. Tukufu Zuberi.(NAN)
Chief Bode George, a former Deputy National Chairman of the Peoples Democratic Party (PDP), has urged President Bola Tinubu to reduce the price of petrol to N300 per litre ,to make things easy for Nigerians during the festive season.
George, the Atona Oodua of Yorubaland, made this plea at an interactive session with newsmen on Wednesday in Lagos.
The price of Premium Motor Spirit, popularly known as petrol, is currently above N1,000 per litre.
According to the elder statesman,Nigerians are going through hardship, the President should give an order to reduce fuel price, specifying time frame the people will enjoy such window of relief.
He said that the federal government as well as well- meaning individuals and businesses could bear the cost of such price slash , to bring happiness to all Nigerians.
The PDP leader, who noted that December and January are special months , said that such gesture could start from the middle of December and run through January.
“I have been thinking, as a Nigerian, what can we do because the anger and the hunger are almost equal on the streets of Nigeria.
“What am I suggesting is that Mr President should sit down with his managers and give an order that from the middle of December to the end of January, the cost of petrol will be N300 per litre.
“The government can absorb the losses in the interest of the suffering people.
“If they (government) want others to contribute, let us know how much that is going to cost and ask people to donate, to bear the cost.
“We will be sending a lot of messages of happiness across the tribes and homes.
“Everybody in Nigeria will be happy because it will positively impact on this period of the year. It is a challenge and he (Tinubu) can do it.
“We need this in this December and January to put smiles on the faces of Nigerians, ” George, a PDP Board of Trustees (BOT) life member, said.
Advising the President to take further measures to bring relief to the people, he said that the gesture would crash prices of essential commodities and services for the benefit of all .
He said that government’s efforts should be concentrated on reducing high inflation rate, unemployment, poverty and youth restlessness in order to create a better future for Nigerians
Speaking on the recent presidential election in Ghana, George noted that Nigeria’s electoral system needed reforms to guard against electoral frauds and manipulations.
According to him, the nation will continue to grope for development if the system fails to encourage best candidates to emerge.
Stating that election must reflect the wishes of the people and be devoid of religious and tribal sentiments, George said that Ghana election should be a wake up call for Nigeria.
“INEC performance must improve. The commission must make sure that the voice of the people is heard in elections.
“Electoral offenders should be made to face the music and sent to jail. We must be very firm about due process, credibility and transparency in elections,” he said.
Urging the President to revisit resolutions in the 2014 Constitutional Conference, George said that the current constitution was not federal in principle and practice.
“We should not deceive ourselves, the constitution is a problem. It is a military constitution, it is not democratic,” he said.
George called on the National Assembly to ensure devolution of powers and electoral reforms that would do away with manual collation of election results and mandate electronic transmission of election results from polling units.
George disagreed with political watchers saying no vacancy in presidency in 2027.
On the dwindling strength of the former ruling party, George, who noted that all organisations had its ups and downs, said that selfish interests and disregard for party rules remained PDP’s major challenge.
He said that PDP could bounce back and win presidential election if the leadership decided to elevate national interest above selfish interests and adhere to the party’s constitution.
“We will tell ourselves some serious old truth. We messed ourselves up. ” he said.
Stating, however, that the PDP was not dead, George said that lack of justice, equity, fairness and the inability to adhere to the party’s zoning and rotational principle cost the party victory in 2023.
Calling on the party’s founding fathers alive to wake up and rescue the party, George said that Nigerians were still waiting for the former ruling party to take over power and put things right. (NAN)
President Bola Tinubu, is set to perform the groundbreaking of 2,000 housing units of the Renewed Hope City in Ibeju Lekki, Lagos, in the next few weeks.
Mr Ahmed Dangiwa, Minister of Housing and Urban Development, announced this during an official assessment visit, on Wednesday in Lagos
Dangiwa said Lagos would represent the South-west, while the president would do that of the North-West in Kano, before doing that of the four other regions.
“Arrangements is already on ground, we have gotten sites, and work has commenced for 2000 houses in the Renewed Hope City that we intend to build in Ibeju-Lekki,” he said.
Towards achieving the set goal, the minister said the visiting team also paid a courtesy visit to Gov.
Babajide Sanwo-Olu to discuss area of collaboration between the federal and state governments.He disclosed that the federal and Lagos state governments had agreed to set up a Tripartite committee and ensure all the issues of concerns between the parties were resolved amicably for the benefit of all.
Earlier, the Minister embarked on an assessment visit of deplorable Federal Government buildings and assets across Lagos state in a bid to commence rehabilitation on them in a few months.
Dangiwa said the rehabilitation was necessary as the deplorable buildings posed a challenge and security concerns to the Lagos state government. (NAN)
Gov. Hyacinth Alia on Wednesday presented the sum of N550.1bn as the 2025 appropriation bill to the Benue State House of Assembly for consideration and passage into law.
Alia told the lawmakers that out of the total budget size, N175.4 billion is for recurrent expenditure while the N374.
7 billion is for capital expenditure.The governor said that the total estimate represented a 47.
5 per cent increment over the 2024 revised and approved figure of N373 billion.He stated that the appropriation bill tagged “Budget of Human Capital Development, Food Security, and Digital Economy” was to consolidate the gains made in 2024.
Alia further explained that the proposed recurrent expenditure of N175.
4 billion was 13.55 per cent higher than the previous year.According to him, budgeted capital expenditure of N374.7 billion represents a 71.5 per cent increment on the 2024 revised capital expenditure.
“The budget breakdown indicated that the sum of N212.2 billion, representing 38.52 per cent is for administration; N196.6 billion, representing 35.68 per cent is for the economy; law and justice will take N26.6 billion, representing 4.84 per cent while social welfare will gulp N115.5 billion, representing 20.96 per cent.
“We have the vision. We have the will. And most importantly, we have the people ready to work alongside us to turn this vision into reality.
“Together, we will build a state where every citizen has the opportunity to succeed, where food is plentiful, and where the digital economy opens new frontiers of opportunity for all,” he said.
The governor said the intention of the government was to stay within the limits of its recurring revenue to build the state without accruing unnecessary debts for generations unborn.
He, however, said that since the 2025 budget was a deficit one, it proposed a borrowing plan of a conservative sum of N26bn, representing a modest 4.7 per cent of the proposed aggregate expenditure for 2025.
“This is lower than the state’s debt-to-GDP ratio of 8.2 per cent which is within the benchmark of the 25 per cent debt sustainability threshold.
“Despite these favourable debt ratios, I want to reiterate that borrowing will only be considered as a last resort and for regenerative investment purposes,” he added.
Alia stated that the problem of Internally Displaced Persons (IDPs) remained a challenge, adding that they have reasonably improved their living conditions.
He said the Bureau of International Cooperation and Development has elicited substantial grants from donors, totalling N85bn. (NAN)
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