NEWS
Kyari Highlights Energy Security’s Role In Wealth Creation
The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC Ltd), Mele Kyari, has opined that no public wealth creation endeavour can achieve any meaningful success without energy security.
This was disclosed in a statement issued in Abuja on Tuesday by Chief Corporate Communications Officer, NNPC Ltd, Olufemi O. Soneye.
He revealed that the opinion was expressed in the GCEO’s presentation at the Ministry of Finance Incorporated (MOFI) Public Wealth Management Conference which in Abuja on Tuesday.
He noted that all other wealth creating activities, including agriculture rely heavily on one form of energy or the other to thrive.
He said, “If you don’t have energy, you don’t have agriculture. You can do all the agriculture but you can’t take it to the market, you may not be able to preserve it. You can’t even export it.
“So, all those indices are clearly connected to the ability to create energy.”
He disclosed that Nigeria has a huge energy deficit with about 70 percent of the population lacking access to clean cooking fuel and over 50 percent lacking access to electricity.
Kyari listed some of the impediments to the achievement of energy security in Nigeria to include lack of investment in the energy sector due to uncertainty in the business environment and multiple taxation, adding that in the last 10 years, less than 3 percent of the total investment flow into Africa came into Nigeria.
He, however, assured that NNPC Ltd was working hard to lay the foundation for sustainable wealth creation by filling the energy deficit gap, stressing that the company’s growth trajectory from a loss position N803bn in 2018 to N2.5tr in 2022 was a testimony to the abundant potential of NNPC Ltd to lead the process of wealth creation in the country.
He emphasized that in spite of the challenges, NNPC Ltd is still the highest tax paying corporate entity in Nigeria.
A helicopter carrying President Ebrahim Raisi yencountered a “hard landing” on Sunday.
According to report, the incident took place near Jolfa, a city situated on the border with Azerbaijan, within Iran’s East Azerbaijan province, approximately 600 kilometers northwest of Tehran.
However, details regarding the incident were not disclosed.
The Associated Press noted uncertainty regarding whether bh Raisi was onboard the helicopter during the incident.
Despite rescue efforts, adverse weather conditions, including heavy rain and wind, have hindered access to the site, according to state TV.
Before the helicopter incident, President Ebrahim Raisi had been in Azerbaijan on Sunday to participate in the inauguration of a dam alongside Azerbaijan’s President Ilham Aliyev.
This dam marks the third joint construction project between the two nations on the Aras River.
Despite Iran’s diverse helicopter fleet, obtaining parts is hindered by international sanctions, with much of its military air fleet dating back to pre-1979 Islamic Revolution era.
Raisi, aged 63, is known for his hard-line stance and previously served as the country’s judiciary leader.
Considered a protégé of Iran’s Supreme Leader Ayatollah Ali Khamenei, some analysts speculate that Raisi could succeed the 85-year-old leader in the event of his resignation or demise.
The Democratic Republic of Congo’s military prevented an attempted coup on Sunday near President Felix Tshisekedi’s offices in Kinshasa, as reported by an army spokesperson.The Democratic Republic of Congo’s military prevented an attempted coup on Sunday near President Felix Tshisekedi’s offices in Kinshasa, as reported by an army spokesperson.
According to him, the plot, involving both foreigners and Congolese citizens, unfolded in the early hours outside the residence of Economy Minister Vital Kamerhe in the Gombe district, close to the president’s offices at the Palais de la Nation.
General Sylvain Ekenge announced on national television that the defence and security forces had successfully thwarted the coup attempt.
He said “An attempted coup d’etat has been stopped by the defence and security forces. The foreigners and Congolese…including their leader” would “all no longer cause any harm”.
Shots were heard near the Palais de la Nation during the attempted coup, as confirmed by various sources.
General Ekenge didn’t elaborate further on the incident, and AFP’s attempts to get additional information from official sources remain unanswered.
However by late morning, the city appeared calm.
Early social media reports suggested an armed attack on Kamerhe’s residence, with some assailants heading towards the Palais de la Nation.
“This morning, there was an armed attack at the residence of the economy minister,” wrote Japan’s ambassador Hidetoshi Ogawa on X.
He stated that Kamerhe “was not harmed, but two policemen and an assailant were killed according to sources.”
France’s ambassador reported hearing automatic weapons fire in the area and advised French nationals to steer clear of the location.
Videos circulating on social media depicted individuals in military attire at the Palais de la Nation, waving flags of Zaire, the former name of the Democratic Republic of Congo (DRC) during the regime of dictator Mobutu Sese Seko, who was ousted in 1997.
Anambra State Governor, Chukwuma Soludo, has dismissed all transition committee chairmen in the state’s 21 local government areas.
This decision was detailed in a letter titled “Expiration of Tenure and Handover to Heads of Local Government Administrations (HLGAs),” dated May 17, 2024, and signed by Collins Nwabunwanne, the state Commissioner for Local Government, Chieftaincy, and Community Affairs.
According to the letter, the directive will be effective starting Monday, May 20, 2024.
The letter read, “Following the expiration of your tenure as Transition Committee Chairman, you are hereby directed to handover the affairs of your Local Government Council to the Head of Local Government Administration (HLGA), in your respective Local Government Councils.
“This directive takes effect from Monday, 20th day of May, 2024. Thank you for your service to the state. All replies to be addressed to the Honourable Commissioner.”
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