Energy
Renewable energy: LASG ready to partner investors
By Kunle KALEJAYE
LAGOS – The Lagos State Government has expressed readiness to partner with investors in implementing a framework that will harness its renewable energy resources.
The framework is expected to encourage and guide the development of renewable energy projects by all stakeholders in both the public and private sectors.
The Permanent Secretary, Ministry of Energy and Mineral Resources, Mrs. Regina Obasa disclosed this at a Community Enterprise Development Conference held at De Renaissance Hotel, Ikeja.
The Permanent Secretary who represented the Governor of Lagos State, Mr Babatunde Fashola (SAN) said that Lagos being the commercial and economic capital of Nigeria implies that Lagos State as a mega-city requires a lot of energy to thrive.
“Lagos require adequate access to energy for economic transformation of the State. It is one of the fastest ways to cut rural poverty, boost productivity and accelerate education and health outcomes, both in urban and rural areas” the Permanent Secretary said.
Mrs. Obasa disclosed that Lagos requires minimum of 10, 0000 megawatts of electricity daily but hardly get 700Megawatts from the national grid.
To address the inadequacy, the State is investing in independent power projects (IPP) to take care of government offices and establishments thereby releasing more power to Lagosians.
While decrying Federal Government policies that are not effective especially in the area of electricity generation, she called for a Legislation that will allow each state to generate and transmit its own electricity for its citizenry.
She also called on investors to take advantage of abundant renewable resources like solar, biomass, wind, hydro and tidal waves with low greenhouse gas emission coefficients and primary energy factors to ensure availability, accessibility and affordability to modern energy for economic and commercial activities.
Declaring the workshop open, the Permanent Secretary, Ministry of Local Government Establishment and Pension Office, Mr Ashimi Jamiu Adewole called on the Federal Government to put in place policies that will protect the intellectual copyrights of Nigerian so as to encourage others to develop and build up infrastructures in the renewable energy sector of the economy.
Convener and Executive Director, African Women and Youth Organisation, (AWYO) Mrs. Olayinka Elizabeth Adekunle said the major objective of the workshop is to create a first-hand meeting with German investors and research institutes in Lagos to dialogue on possible area of partnership and funding as well as identifying detailed means of using viable alternatives to help solve present and future challenges in the energy and agricultural sectors thus ensuring food sustainability and economic security.
Lead facilitator and Head of Bioeconomy, German Institute of Food Technology, Dr. Alexander Mathys, spoke extensively on the German experience in alternative energy and Food security and Sustainability which he said can be replicated in Nigeria.
Speakers at the workshop called for a more concerted effort by both the State and Federal Government to be involved in international research and development and the application of commercially viable, large-scale technologies for renewable sources of electricity generation and food production in the Country.
Participants at the workshop were drawn from both the Local and State Government Ministries, Departments and Agencies.
Energy
Dangote Partnership: MRS Urges Nigerians To Insist On N935/Litre Petrol Price Nationwide
MRS Oil Nigeria Plc, a prominent player in the Nigerian downstream oil industry, has implemented a new petrol price of N935 per litre across all its retail service stations nationwide.
The company has also called on Nigerians to monitor and report any outlets that fail to adhere to the new price structure.
Biztellers reports that this is consequent upon an announcement by the President of Dangote Industries Limited, Aliko Dangote, that the Dangote Petroleum Refinery has partnered with MRS Oil and Gas to offer petrol at N935 per litre at retail outlets, following a reduction in the ex-depot price from N970 to N899.50 per litre.
ALSO READ: Dangote Slashes PMS Price To N899.50k
It was gathered that MRS Oil Nigeria Plc has instructed all its outlets to implement the new price immediately, setting up a digital platform and monitoring team to ensure full compliance.
In a statement on Monday night, the company declared, “Petrol is now being sold at N935 at MRS Filling Stations nationwide. If you find any station not following this price, please report it. Call 08009447853 or email: NG-FMKPMGWHISTLEBLOWING@NG.KPMG.COM”
Emphasising the eco-friendly nature of its products, MRS Oil added, “We call on all petrol station owners to join MRS Oil Nigeria Plc in improving the supply chain of our beloved country, ensuring product quality and availability in every corner of Nigeria for the benefit of all Nigerians.”
In Lagos, commuters were seen queuing at MRS filling stations to purchase petrol, with many expressing their gratitude to the Dangote Petroleum Refinery and MRS Oil and Gas, urging other marketers to support the indigenous refinery rather than import off-spec products into the country.
A commuter at the MRS station at Alapere on the Lagos Ibadan Express way, Ibukun Phillips, could not hide her joy as her husband filled up their car.
“I am very happy today. This is a victory for Nigeria,” she said. “The price reduction is the best gift of the season. But beyond just the reduction, we are buying standard, eco-friendly petrol at a lower rate. My husband and I have decided we will only be using MRS from now on because we are confident in the quality of the product and supporting the economy.”
A commercial bus driver, Adio Ajibade described the price reduction as a great relief, especially during the festive season.
“The reduction is a great relief. It will reduce transportation costs and benefit Nigerians. God will continue to bless Alhaji Aliko Dangote,” he said.
A public affairs analyst and university lecturer, Dr. Tunde Akanni, said the collaboration between Dangote Petroleum Refinery and MRS Oil represents a significant step towards improving the affordability, quality, and sustainability of petroleum products in Nigeria.
According to Dr. Akanni, “this move will not only help ease the financial burden on Nigerians but also promote a more environmentally conscious approach to fuel consumption, benefitting both the economy and public health in the long term.”
Energy
FDI: Shell To Invest Billions Of Dollars On Nigeria’s Bonga North Oil Field
As a direct implication of the Federal Government’s Foreign Direct Investment drive, the Royal Dutch Shell has completed the final investment decision on the deep offshore Bonga North project in Nigeria.
Biztellers reports that the Bonga North will be a subsea tie-back to the Shell-operated Bonga Floating Production Storage and Offloading (FPSO) facility which Shell operates with a 55% interest.
Shell’s Integrated Gas and Upstream Director, Zoë Yujnovich, said, “This is another significant investment, which will help us to maintain stable liquids production from our advantaged Upstream portfolio”.
ALSO READ: OGUNCCIMA Commends Dangote Refinery’s Impact
It was gathered that the Bonga North project involves drilling, completing, and starting up 16 wells (8 production and 8 water injection wells), modifications to the existing Bonga Main FPSO and the installation of new subsea hardware tied back to the FPSO.
The company is optimistic that the project will sustain oil and gas production at the Bonga facility.
The Bonga North currently has an estimated recoverable resource volume of more than 300 million barrels of oil equivalent (boe) and will reach a peak production of 110,000 barrels of oil a day, with first oil anticipated by the end of the decade.
In addition, the Bonga North will help ensure Shell’s leading Integrated Gas and Upstream business continues to drive cash generation into the next decade.
Energy
Chevron Nigeria Bags ‘Energy Company Of The Year For Environmental Sustainability And CSR
Chevron Nigeria Limited (CNL), has received an award as “Energy company of the year (2024)” for its Environmental Sustainability and Corporate Responsibility accomplishments.
The award presented by the Nigerian News Direct newspaper, on Friday December 6, 2024, and was received by Manager Communications, Chevron Nigeria and Mid-Africa Business Unit, Victor Anyaegbudike, at a colourful event at the Grand Ballroom of the Oriental Hotel, Lagos.
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The organizers of the award noted that Chevron has implemented the “Protecting People and the Environment” policy, which aims at preventing injuries, illnesses, and environmental incidents. They also referenced that the company has achieved 97% gas flaring reduction in its operations in Nigeria, while implementing waste management and environmental conservation programs.
According to the media organization, Chevron Nigeria has also invested millions of dollars in community development programs, supporting education, health and economic development initiatives that have benefited thousands of people, while ensuring diversity, inclusion, and employee engagement in its business operations.
Receiving the award from the Lagos State Commissioner for Information and Strategy, Gbenga Omotosho, Anyaegbudike thanked the organizers for the honour, and reiterated Chevron’s commitment to continue to develop, affordable, reliable and ever-cleaner energy that enables human progress around the world.