Day: July 6, 2024

The TotalEnergies Nigeria says the deep water segment of oil and gas industry in Nigeria has been stuck for 10 years since the Egina Final Investment Decision (FID).

Mr Matthieu Bouyer, the Country Chairman/Managing Director of TotalEnergies Nigeria, made this known at the 23rd Nigeria Oil and Gas (NOG) conference, on Wednesday in Abuja.

The theme of the conference is: ‘Showcasing Opportunities, Driving Investment, Meeting Energy Demand”.

The News Agency of Nigeria , reports that the Egina oilfield is one of the TotalEnergies most ambitious ultradeep offshore project, located at about 130km offshore Nigeria at water depth of more than 1,500m.

Bouyer, in a session entitled: ‘Defining The Outlook For Deep-Water Exploration and Production in Nigeria’, blamed the gap on high operating costs and lack of contractors and competition in Nigeria.

He listed increased levies, changes in fiscal terms, lack of contractors, competition in regional markets and comparatively high operating cost as some of the reasoned
behind the development.

According to him, many contractors had left the country and that has increased the lack of competition in the sector.

To move the deep water sector forward and increase competition in the sector, Bouyer stressed the need for the Federal Government to understand why they left and effect measures to bring them back.

‘Even with the fiscal incentives, if the costs are too high, investment will not be possible, therefore, there is need for competition to drive the costs down.

‘As Capex are capped, arbitration are made. So it’s important to be competitive and agile to accommodate requirements,” he said.

He underscored the need for proactive measures to encourage investments in the deep water space.

Source: News Agency of Nigeria

UN Secretary-General António Guterres said that deep global divisions and conflicts must end to clear a path to tackling the world’s two existential threats – climate change and the negative impacts of artificial intelligence.

Guterres said this in his address to the Shanghai Cooperation Organisation (SCO) Summit in Astana on Thursday.

The 24th Meeting of the Council of Heads of State of the SCO kicked off Thursday in Astana, with Belarus officially becoming a member of the association.

‘The central goal of our multilateral system must be peace – a pre-condition for sustainable development and the enjoyment of human rights,” he told Heads of States attending the world’s largest regional organisation meeting in Kazakhstan’s capital.

Guterres listed multiple conflicts where ceasefire and lasting peace are needed, from the Middle East to Ukraine and from Sudan to the Sahel, in addition to the Democratic Republic of the Congo, Somalia, Myanmar and Haiti.

‘We need peace in Afghanistan and an inclusive govern
ment that respects human rights and is integrated into the international community.

‘All countries should unite to prevent Afghanistan from ever again becoming a hotbed of terrorism,’ he told the Council of the SCO, the world’s largest regional security body.

The body includes Belarus, China, India, Iran, Kazakhstan, Kyrgyzstan, Russia, Pakistan, Tajikistan and Uzbekistan.

With such wide representation, the Shanghai Cooperation Organisation has the power and the responsibility to push for peace, the chief of the universal organization insisted.

The secretary-general underscored that the meeting in Astana was happening amid raging wars, geopolitical divides, ‘an epidemic of impunity’ and backsliding on sustainable development – a key global goal – causing cynicism and a crisis of trust.

‘These global challenges cannot be solved on a country-by-country basis.

‘This is the moment to reaffirm our common commitment to multilateralism, with the United Nations at its centre, bound by the principles set out in
the UN Charter, international law and the Universal Declaration of Human Rights,” he said.

The UN chief cautioned that people were losing faith in multilateralism, as they point to broken promises, double standards and growing inequalities.

He also highlighted the urgent need for collective action on two looming existential threats: the climate emergency and the unchecked rise of digital technologies, particularly AI.

UN climate experts have confirmed that although 2023 was the hottest year on record, it could soon be seen as one of the coolest years in a rapidly warming future.

Guterres warned that the devastating impacts of our changing climate are already evident in the melting glaciers, deadly floods, storms, droughts, and extreme heat waves that are battering countries worldwide.

‘Our climate is breaking down,’ he said, emphasising the dire consequences for water and food security, development and global stability.

The call to action should be clear, he insisted, in a call for ambitious measures t
o slash greenhouse gas emissions and achieve climate justice, with the greatest responsibility falling on the world’s biggest emitters.

Outlining solutions to the global climate crisis, Guterres urged all governments to submit new Nationally Determined Contributions (NDCs) by next year, fully aligned with the goal of limiting global warming to 1.5 degrees Celsius.

These NDCs should include absolute emissions reduction targets for 2030 and 2035 and outline plans for critical global transitions, with key actions such as ending deforestation, tripling renewable energy capacity and reducing fossil fuel production and consumption by at least 30 per cent by 2030.

In addition, Guterres said countries must commit to phasing out coal power entirely by 2040.

Highlighting the critical role of finance in support of climate action, the secretary-general called for a strong financial outcome from COP29, the global climate conference to be held in Baku, Azerbaijan, in November.

Turning to AI – the second existential th
reat facing the planet – the secretary-general highlighted the transformative potential of the technology in accelerating sustainable development.

He, however, cautioned that AI is advancing faster than regulatory frameworks can keep up, exacerbating power imbalances, concentrating wealth in the hands of a few, undermining human rights and increasing global tensions.

To address these challenges, the UN chief’s Advisory Body on AI has outlined five priorities: establishing an international scientific panel on AI, initiating regular policy dialogues developing common ethics and standards for AI.

Others are ensuring governance of the data used to train AI algorithms and supporting capacity building in developing countries through a global fund.

Guterres also proposed the creation of a compact, dynamic and flexible UN AI Office to oversee these efforts.

The secretary-general expressed hope that the upcoming Summit of the Future will be a turning point in renewing global unity and addressing the existential t
hreats facing humanity.

‘I look forward to welcoming you to New York in September,’ he said, before urging the regional bloc’s leaders to seize this pivotal opportunity for collective action.

The UN secretary-general attended the SCO top-level meeting in the course of his tour of the Central Asia countries that covers Uzbekistan, Kyrgyzstan, Kazakhstan, Tajikistan and Turkmenistan to discuss a wide range of issues from peace, non proliferation to sustainable development.

Source: News Agency of Nigeria

Mr Ola Olukoyede, the Chairman of the Economic and Financial Crimes Commission (EFCC), has described public corruption as the major impediment to sustainable development in Nigeria.

Olukoyede said this in Abuja during a courtesy visit by Mohammed Shehu, Chairman of the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC).

Olukoyede said public corruption ranked as the biggest cause of corruption in the country.

According to him, if public corruption is taken out of the polity, the country will fare better than many countries in the world.

‘A situation where somebody would hold a public office or position of trust for years and you call him to account and he says no, he would not account, is not acceptable.”

He stressed that transparency and accountability should be embedded in both the public and private sectors for optimal development of the country.

The EFCC chairman decried the magnitude of stealing by corrupt elements in the country, especially stealing of unspent allocation in government
agencies.

‘When I look at some case files and see the humongous amount of money stolen, I wonder how we are still surviving. If you see some case files you will weep.

‘The way they move unspent budget allocation to private accounts in commercial banks before midnight at the end of a budget circle, you will wonder what kind of spirit drives us as Nigerians.’

Olukoyede said corruption posed a huge challenge to the country.

He, however, expressed optimism that the prevention mechanisms of his leadership would ensure that the commission stays ahead of the devices of the corrupt to ensure that Nigerians have good governance experiences.

Olukoyede insisted that the preventive framework of tackling corruption offered more prospects of results and impact as EFCC had set up a Department of Fraud Risk and Assessment and Control.

The EFCC boss also described corruption in the country as systemic and entrenched, pointing out that the nation would fare better with improved systems of doing things.

‘Let’s look at ou
r system of revenue generation; it is a system that allows leakages in mobilisation and appropriation of funds.

‘If we don’t look at the system, we will continue to chase shadows; in this direction, we are not just going to investigate and recover; what we have decided to do in the EFCC is Policy Review.

‘If we can block some of these leakages and have a 50 per cent of capital project execution in Nigeria, the country would be fine.”

While assuring RMAFC of enhanced EFCC collaboration, Olukoyede enjoined the RMAFC to continue to support President Bola Tinubu’s efforts geared toward repositioning the country.

‘The President relies on you and me and all the people he has put in a position of trust and responsibility for success,’ he said.

Earlief, Shehu lauded the longstanding collaboration between RMAFC and the EFCC.

He said that the visit was motivated by the need to explore more areas of collaboration between the two agencies, especially in the direction of recovery of unremitted or lost revenues of g
overnment.

‘It is important to bring to the fore that the collaboration between RMAFC and EFCC is crucial in addressing the challenges of unremitted revenue to the Federation Account.

‘On this note, we are calling on EFCC for more collaboration; not only in the area of enforcement but also intelligence gathering and data sharing as regards government revenue from any source,’ he said.

Shehu also called on the EFCC to assist his commission in the area of capacity building of its staff on revenue monitoring.

Source: News Agency of Nigeria

President Bola Tinubu on Friday congratulated Sir Keir Starmer the leader of the Labour Party, on the victory of his party in the United Kingdom general elections.

Starmer, emerged winner of the UK general elections and is set to become the next prime minister of the country.

Rishi Sunak, the outgoing Conservative Prime Minister who has already conceded defeat, said he would step down as leader of the Conservative Party before tendering his resignation letter to the King.

Chief Ajuri Ngelale, Special Adviser to the President, Media and Publicity, in a statement, said as a former leader of the opposition in Nigeria, Tinubu noted the determination and courage demonstrated by Starmer throughout his years in the opposition and as the leader of the Labour Party.

‘The President states that the party’s ability to reform, mobilise, and position itself for victory after 14 years clearly affirms the leadership qualities of Sir Starmer.

‘President Tinubu also congratulates the citizens and the government of the Uni
ted Kingdom, describing the Kingdom as an abiding model of democracy and Nigeria’s long-standing partner,’ said the statement.

The President said he looked forward to deepening relations between Nigeria and the United Kingdom in mutual areas of interest in strengthening democratic institutions, as well as in building a safer and more prosperous future for the people of both countries.

The News Agency of Nigeria reports that the Labour Party secured a landslide victory in the UK election to end 14 years of Conservative rule.

Source: News Agency of Nigeria

Dr Mohammed Santuraki, the newly appointed Pro Chancellor and Chairman of the Governing Council, FUT Minna, says the council will uphold the high standards set by past leaders of the institution over the past 40 years.

Santuraki said this during the first meeting of the council members after the inauguration of the 10th governing council in FUT Minna.

‘The meeting was incredibly useful, and I am deeply impressed by the exceptional credentials and experience each member brings to our well-deserved positions.

‘The quality of discussions was remarkable, and I am confident that together we have the capacity to elevate this great university to even greater heights during our tenure.

‘I truly look forward to working with all of you, including the internal members and institutional representatives on the council that I am yet to officially meet. I eagerly look forward to meeting them too.

‘Kudos to the current management under the leadership of VC Prof Faruk Kuta and all those before them who have silently buil
t such an incredible institution over the last 40 years,

‘Beginning with the legendary tenure of our pioneer VC, Prof. J.O. Ndagi. We stand on the shoulders of these giants and their legacies. We owe it to them and all University stakeholders to uphold and enhance the high standards they have set.

‘It is my immense privilege and honour to lead this charge, and I believe we can achieve great things together,’ he said.

The News Agency of Nigeria recalls that President Tinubu approved the appointment of governing Councils of Tertiary Institutions May 18 and they were inaugurated July 4.

The council plays a crucial role in shaping the direction and policies of their respective institutions, influencing everything from academic standards to administrative decisions.

Source: News Agency of Nigeria

OTJIWARONGO: The Ministry of Agriculture, Water and Land Reform has announced an outbreak of lumpy disease in the Otjituuo and Okamatapati villages of the Okakarara Constituency, with some restriction measures imposed on the movement of cattle.

The ministry’s acting chief veterinary officer in the Department of Veterinary Services, Dr Johannes Shoopala in a media statement on Friday said eight cattle were diagnosed with the disease at the villages.

Lumpy skin disease is a vector-borne infectious disease that is occasionally fatal for cattle, especially when they are characterised by nodules on their skins. It is normally transmitted by insect bites.

‘Therefore, all cattle showing clinical signs should receive vitamins, anti-inflammatory drugs, and antibiotics to control the secondary bacterial infection,’ he said.

Shoopala further urged farmers in the Okakarara Constituency to vaccinate their healthy cattle with a plan to control the vector.

He added that to safeguard the commercial meat industry the Dir
ectorate of the Veterinary Services has also instituted movement measures on cattle by ensuring that cattle moving from the affected areas should not show signs of the lumpy skin disease, and that they should be vaccinated 21 days before their movement is effected from the affected areas.

Cattle that are moving into the affected areas should be vaccinated 21 days before their movement as well, for the directorate to contain the disease, he advised.

Shoopala called for full cooperation from the farmers in the Okakarara Constituency of the Otjozondjupa Region so that together with the directorate, they win against the disease.

Source: The Namibia Press Agency