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)
Israel has sent two planes to evacuate fans from Amsterdam after violent clashes between Israeli supporter and pro-Palestinian demonstrators on the fringes of Ajax versus Maccabi Tel Aviv Europa Cup match.
“The Prime Minister has directed that two rescue planes be sent immediately to assist our citizens,.
“The harsh pictures of the assault on our citizens in Amsterdam will not be overlooked’’ Israeli Prime Minister Benjamin Netanyahu’s office posted on X on Friday morning.
The Israeli leader’s office called the incident horrifying and demanded that the Dutch government and security forces take vigorous and swift action against the rioters, and ensure the safety of our citizens.
This clash was however unclear and yet to be unfolded.
The exact events remain unclear. The violent disturbances occurred around the Europa League football match between Dutch club Ajax Amsterdam and Maccabi Tel Aviv on Thursday evening. Ajax won 5-0.
There were clashes in several locations in the centre of the Dutch capital; though it was not specified which side started the violence.
Around 60 people were detained temporarily on Thursday evening, the police said.
Amsterdam TV station AT5 reported that demonstrators threw chairs at Maccabi fans.
The police’s mobile units reportedly shielded the Israelis and escorted them to their hotels.
There were also clashes in the afternoon between Israeli football fans and security forces in the city centre.
According to police, about a dozen people were arrested for disturbing public order and illegal possession of fireworks.
Even before the match, there were isolated altercations near the stadium in the south-east of the city, the police said.
More than 200 demonstrators attempted to reach the venue, according to the police.
Dutch Prime Minister Dick Schoof condemned these “unacceptable antisemitic attacks on Israelis’’ on X and said he had since spoken with Netanyahu.
Far-right Dutch leader Geert Wilders called it a pogrom.
“We have become the Gaza of Europe,’’ he said, adding that Muslims with Palestinian flags were hunting down Jews.
Israel’s UN ambassador also referred to the incident on X as a pogrom.
Steffen Seibert, Germany’s ambassador to Israel condemned the incident.
“Chasing and beating up Israeli soccer fans is not anti-war protest.
“It is criminal and intolerable and we must all stand against it. As a European I am ashamed to see such scenes in one of our great cities,’’ he wrote on X.
However the Reaction from the United States (U.S.).
In New York, Jonathan Greenblatt, the head of the Anti-Defamation League (ADL), described itself as the world’s largest anti-hate organisation.
He demanded that the Dutch government ensure the safety of Israeli fans, apprehend and prosecute the perpetrators and apologise for the violence.
“This is exactly what ‘globalise the intifada’ looks like,’’ Greenblatt wrote on X, saying there were mobs of hate-filled people who had attacked Israelis who came to Amsterdam to enjoy a football game.
Even New York Attorney General Letitia James chimed in on X, calling the attacks against Jews in Amsterdam “deeply disturbing and horrifying.’’
New York State, particularly metropolitan New York City, has a large Jewish population.
“We must do everything in our power to protect Jews in America and across the world.
“This anti-Semitism and violence must end now,’’ she wrote. (dpa/NAN)
The National Insurance Commission (NAICOM) has given insurance companies Dec.31 deadline to clear all outstanding claims.
The Head, Communication and Stakeholders Management Sub-committee of the Insurers Committee, Mrs Ebelechukwu Nwachukwu, made this known while addressing a news conference after a meeting of management in Lagos.
The meeting marked the first gathering of the Insurers Committee with Mr Segun Omosehin, as the Commissioner For Insurance.
Nwachukwu, also Managing Director, Rex Insurance Ltd., said the commissioner charged insurance companies CEOs at the meeting to ensure that no outstanding claims is captured at the close of their 2024 financial accounts.
The NAICOM boss, she said, tasked the insurance company’s executives to defend the insurance industry through payment of genuine claims, which is integral.
“The regulator said it would be checking in an intensive and focused manner, the outstanding claims in the insurer’s books.
“The commission said its focus is on the soundness of the insurance industry, measured by the ability of meet their obligations when due,”she said.
According to her, the commissioner also charged the insurance companies to take steps towards recapitalisation, by evaluating their financial position, as to the need to raise fresh capital.
She said the charge came by the regulator,having exposed a draft of the Risk Based Supervision (RBS) regulations to the operators, in the event that recapitalisation takes-off.
“If there will be need to raise capital, insurance companies need to start speaking with their different boards, shareholders about the possibility of recapitalisation happening, before it becomes a regulation,”she said.
Nwachukwu revealed that the commissioner further encouraged brokers to ensure strict compliance with the “no premium, no cover” regulation, having observed some violations to the regulation.
She said the commissioner also charged CEOs of insurance firms to get involved in addressing complaints.
Nwachukwu also stated that the regulator encouraged the insurance operators to submit the financial statements of their companies early enough, to create more confidence on the industry.
She mentioned that Omosehin charged the insurers to focus their attention significantly on Nigeria’s Data Protection regulations for the insurance industry.
The sub-committee chairman said NAICOM boss also wants insurance operators to pay specific attention to the implementation of the 10- year Insurance Strategic Plan.
She said this was important, having unanimously agreed to seven thrusts of commitment that would enable the industry meets its objective by year 2027.
Nwachukwu added that the commissioner charged the insurance operators to also pay attention to the legal and regulatory framework for the industry, under the Insurance Bill 2024.
“He spoke about focusing of compliance issues, under the Prudential Guidelines released by NAICOM to the insurers and put an end to Corporate Governance abuses, recognised within the industry.
“The commissioner discussed the National Credit Guarantee Scheme signed by President Bola Tinubu.
“If insurers invest in the scheme, we have the potential of sitting on the board of the facility, where a lot of decisions would be taken,”she said.
According to her, Omosehin also informed the insurance operators on the significant progress made on the Agency’s portal, noting that all resources are in place to continue the efficiency of the portal.
Nwachukwu said the present administration of NAICOM is very clear on the insurance industry and what it expects to see and has hinged its success on the collective Insurance Industry Reforms plans agreed upon as an industry.
She further said that the regulator insisted that insurers get the right approval from NAICOM before newly appointed Executive Director of insurance companies assumes their appointment.
The insurer stated that the committee also reconstituted its sub-committees in line with the pillars of its 10-year roadmap for the insurance industry.
Nwachukwu listed the reconstituted sub-committees of the Insurers Committee as, the Insurance Sector Stability committee,Communication and Stakeholders Management committee, Technology and Talent Management committee and Customer Service and Market Expansion committee.(NAN)
Three Israelis are missing following clashes between Israeli football fans and pro-Palestinian demonstrators on the fringes of football club Maccabi Tel Aviv’s match in Amsterdam, according to Israeli authorities.
Ten people were injured in the violence, the Israeli Foreign Ministry said on Friday morning.
The degree of their injuries was initially unclear.
The ministry urged its citizens to use public transport to travel to the airport, after Israel had announced it was sending two planes to evacuate the fans.
Local security forces had been deployed, the ministry said.
The ministry had initially advised fans not to leave their hotels.
It also advised its citizens not to wear Jewish or Israeli symbols in public.
(dpa/NAN)
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