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COP26: Global Leaders Dump Nigeria’s $10bn Investment Target-Aduda

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….Global Leaders Dump Nigeria

Permanent Secretary of the Ministry of Petroleum Resources, Gabriel Aduda,   has voiced out  concerns over the failure of global leaders to invest approximately 10 billion dollars in Nigeria’s net-zero and energy transition plans by 2060.

Aduda spoke at a Ministerial Roundtable at the ongoing World Petroleum Congress(WPC) on Wednesday, in Calgary, Canada, with the topic ‘What Does The Energy Transition Mean for your Country’.

He said various global leaders at the 26th UN Climate Change Conference of the Parties (COP26) in Glasgow, Scotland in 2021, made various commitments, which stood at $10billion.

According to him, this was to aid Nigeria’s agenda on commitments to attain net-zero by 2060 but with conditions.

‘‘The truth of the matter is that promises were made as to how the initial injection of 10 billion dollars was going to be done. But, l seat here to tell you that not a cent has been moved,’’ he said.

He explained that part of the conditions was that transition to renewable does not come cheap.

Aduda said,”one of the things that Nigeria is not shy to say is that ‘‘we do not have the finances to get it done.’’”

He maintained that if Nigeria was going to achieve net zero by 2060, it meant that there would be significant financial injection into the system from the country.

He noted that there would also be support across the world, especially those that were responsible for heavy emissions.

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‘‘Now these issues were agreed to and promises were made at COP26, but how much of these promises have been fulfilled?

“The truth is that Africa still sees huge financial exclusion when it comes to the issue of climate change and we have always said it and the numbers are clear.

“In 2021, 2022, 600 billion dollars of green burns were generated but less than 0.26 per cent came to Africa.

“When we made this commitment at COP26, His Excellency, the then president, said we would need at the very beginning about 10 billion dollars with a target of 410 billion dollars till 2060,’’ he said.

According to him, a larger chunk of these funds will be used for funding of infrastructure, especially gas infrastructure across Nigeria.

The permanent secretary said that Africa remained the most compliant continent when it comes to renewable energy.

According to him, this was because the continent  has been able to prove that no other continent has been close to where it is on renewables.

He maintained that out of the 54 countries in Africa, close to 30 used one form of renewable energy or the other.

He said, for instance, Kenya has 70 per cent of renewables and quite a number of other countries could also boast at least 40 per cent.

‘‘But, what we have been able to put together across all the continent. No other continent is as compliant as African is, yet, Africa is the least emitter of this hydrocarbons or contributor to this climate issues that we are dealing with.

“More importantly, what does energy transition mean to us as a country? A lot. We totally understand that we are a very rich country in natural resources and our very strength is in gas, which in Nigeria is even much more than crude deposit.

“The proven quantum of gas that we have is about 260TCF with the potential for more. Now we have identified gas in Nigeria as our transition fuel.

“We have tried to rally round in all our policies, everything we need to see that would work within a framework, that allows us to push domestic injection of gas across Nigeria and of course across Africa.

“Because we have always exported gas,  NLNG, name it, and we are still working that we reach out with our deposit to other Africa countries and even beyond,’’ Aduda added. (NAN)

….Global Leaders Dump Nigeria

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Death Toll in Military Drone Attack on Kaduna Civilains  Rises to 80

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From Nicholas Dekera, Kaduna

Death toll in the bombing of civilians by the Army at Tudun Biri Village in Igabi Local Government Area of Kaduna has risen to 80.

Kaduna State Government has said the Nigerian Army has claimed responsibility for dropping a bomb, which left no fewer than 30 villagers dead on Sunday.

Initial reports had it that about 30 villagers were killed in the incident, which happened during a Maulud celebration around 9PM.

There were also conflicting reports on the cause of the mass deaths.

However, the Overseeing Commissioner of Internal Security and Home Affairs, Samuel Aruwan, said the General Officer Commanding 1 Division Nigerian Army and Force Commander Operation Whirl Punch, Maj Gen VU Okoro, admitted that the Nigerian Army was on a routine mission against terrorists when the incident happened.

This was contained in a statement released by the commissioner to journalists shortly after the deputy governor, Dr. Hadiza Balarabe met with Islamic clerics, traditional rulers, heads of security agencies, where “the Nigerian Army explained the circumstances which led to the unfortunate and unintended attack.”

The meeting was held at the Sir Kashim Ibrahim Government House, Kaduna on Monday. The statement read, “The General Officer Commanding 1 Division Nigerian Army, Major VU Okoro, explained that the Nigerian Army was on a routine mission against terrorists but inadvertently affected members of the community.”

He added that search-and-rescue efforts were still ongoing as dozens of injured victims had been evacuated to the Barau Dikko Teaching Hospital by the state government. He also quoted the deputy governor as having commiserated with the victims’ families while praying for the repose of the victims’ souls.

 The statement added, “The Kaduna State Government has received briefings on Sunday night’s attack which left several citizens dead and others injured.

“In a meeting presided over by the Deputy Governor, Dr Hadiza Balarabe, which had in attendance heads of security agencies, religious and traditional leaders, the Nigerian Army explained the circumstances which led to the unfortunate and unintended attack.

“The General Officer Commanding 1 Division Nigerian Army, Major VU Okoro, explained that the Nigerian Army was on a routine mission against terrorists but inadvertently affected members of the community.

“The deputy governor, at the end of the closed-door meeting, conveyed the condolences of the government and people of Kaduna State to the families that lost their loved ones and prayed for the repose of the victims’ souls.

“As of the time of this update, search-and-rescue efforts are still ongoing, as dozens of injured victims have been evacuated to Barau Dikko Teaching Hospital by the Government.”

 The heads of security agencies who attended the meeting included the state Commissioner of Police, MY Garba; Director of the Department of State Services, Abdul Enenche; the Chairman of the Kaduna State Chapter of Jam’atu Nasril Islam, Prof. Shafi’u Abdullahi, who led other religious leaders as well as the District Head of Rigasa, Alhaji Aminu Idris, in whose domain the incident occurred.

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Finally, FG Takes Delivery of  2nd Niger Bridge From Contractors

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Federal Government has taken delivery of the Second Niger Bridge from the contractor, Julius Berger.

This is seven months after it was inaugurated by the Muhammadau Buhari-led administration on May 23.

The Minister of Works, David Umahi, while addressing journalists shortly after he was conducted around the bridge on Sunday, said he was satisfied with the level of work done.

Umahi was conducted around the bridge by the Managing Director of Julius Berger, Dr Lars Richter.

The minister commended the previous and present administrations for doing quite a lot for bringing the work to fruition, described the job as “impeccable, very beautiful and well completed”.

According to him, we have light issue and we’ve put things together on how to permanently have light especially at night.

“What we have agreed is to deploy solar solution in the coming weeks so that every night we don’t have to run diesel.

“The roads are going to be completed when we have completed the two inter changes, one is taking us off from Asaba town to cut off the traffic and the other one is going to be done by Reynolds Construction Company (RCC) Ltd to avoid Onitsha town and take you straight to Obosi.

“President Ahmed Tinubu is very committed to the project and we are going to acquire more, so that we can build service stations, filling stations, restaurants and supper markets and other facilities as we see in western world.

“We are determined to do that; the need to do this with the inter changes is going to be a very smart one, so that over the years we can have a beautiful and maintained road,”  he said.

The minister further assured of security with the bridge by providing Closed-Circuit (CCTV) cameras and some security personnel so that one could get security assistance within five minutes.

Earlier, the Managing Director of Julius Berger, Dr Lars Richter, said that the event was a technical handover after the project was inaugurated by the former administration.

Richter said that work was successfully completed in time and Julius Berger had delivered highest quality of work.

Also speaking, the Director Bridges Design and Construction, South, Federal Ministry of Works, Mr Bede Obioha, tasked the residents around the second Niger bridge to help secure the already installed facilities and those that are yet to be installed safe.

Bede commended the staff of his ministry and the contractors for a job well done, urged the road users and the residents to abide by the rules of the road.

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Private Sector As  Key to Successful Energy Transition Project -Analysis

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By Tony Obiechina, Abuja

In Nigeria, desertification in the north, floods in the centre, pollution and erosion on the coast and the associated socio-economic consequences allude to the reality and grave impacts of climate change.

Consequently, the Nigerian government has undertaken the action to limit the effects of climate change and set the nation on a net-zero carbon development and resilience-building trajectory.

As such, the Nigerian Economic Summit Group (NESG) and the African Climate Foundation (ACF) held a private sector engagement towards a successful Nigerian energy transition project on 27th of Nov.

While delivering a presentation on the project overview on Private Sector Engagement Towards a Successful Nigerian Energy Transition Project, Facilitator Sustainability Policy Commission of the NESG, Dr Eugene Itua stated that the project has two components, which are energy transition and carbon finance, and that the project aims to assist in driving and encouraging energy transition, unlocking opportunities in the sector and stimulating resilience and economic development.

He noted that the private sector is at the threshold of assisting in the implementation of the energy transition and carbon finance goals as they have the capacity to catalyse required finance.

Hhe reiterated the need for collaboration to strengthen the participation of private and public sector players to create an enabling environment.

 Dr Itua noted that the carbon finance and carbon trading landscape have a compliance/regulatory part mandated by law and a voluntary part open to all interested individuals.

He pointed out that the Nigerian energy transition project will develop policy briefs based on the research outcomes, using evidence-based support for ATP and carbon emission reduction in Nigeria.

Speaking in the same vein, the Facilitator of the Energy Policy Commission of the NESG, Dr Segun Adaju, while speaking on Nigeria’s Energy Transition plan stated that the commitment of Nigeria to achieve net zero by 2060, and Nigeria has launched plans to kickstart the transition.

He noted that five sectors shoulder the Energy Transition Project: power, transport, industry, cooking and oil and gas.

Dr Adaju said that for Nigeria to reach the Net Zero Plan by 2060, the Nigeria Energy Transition Plan estimates that the country needs about $ 1.9 trillion, including $410 Billion above projected usual spending and an additional cost of about $10 billion annually.

Dr Adaju reiterated that carbon finance through the carbon market is crucial and part of a more considerable global effort to raise needed funding to combat climate change and that in developing countries such as Nigeria, carbon finance is seen to contribute significantly to actions in the transition to low-emission and climate-resilient approaches.

 He noted that there are a number of enabling policies, laws, strategies, and plans for net-zero transition to 2060, including the Nigeria Climate Change Act 2021, Energy Transition Plan (ETP), and the Long-Term Vision 2050 (submitted to UNFCCC in 2021) and the Long-Term Low Emission Development Strategy (LT-LEDS) which is currently being elaborated.

Thematic Lead, Climate Change, Sustainability Policy Commission of the NESG, Mrs Dolapo Kukoyi, said that the project aims to strengthen public-private engagement around implementing the Nigerian energy transition plan and support the development of the carbon market whilst supporting interventions that will drive socio-economic improvement.She also noted that policy briefs that will support the participation of solar projects, aggregation of projects for the voluntary carbon market and quality of data to ensure that adequate data is obtained, including in-country capacity for verification and aggregation, will be compiled.

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