Column

President-Elect And N’Delta Saga

Published

14 years ago

May 11, 2011

As it were, right from his good old days as Deputy Governor and later Governor of Bayelsa State, President Goodluck Jonathan, sworn-in as President of the country in May, last year, following the death of President Umaru Yar’Adua, has left no one in doubt that he has all it takes to utilise to the best of his ability, any opportunity that comes his way to the glory of God and service to humanity. Yes, his declaration last month as President-elect, by Prof. Attahiru Jaga, National Chairman, Independent National Electoral Commission (INEC), underscores Jonathan’s success story in Nigeria’s polity.

Indeed, penultimate Monday, April 18, 2011, was yet another red-letter-day in the history of Nigeria, the acclaimed giant of Africa. On that fateful day, Jonathan was declared president-elect of the country, following his (divine) success in the presidential election held on Saturday, April 16, 2011.

Well, Dr. Jonathan’s declaration as the nation’s president-elect by INEC, the country’s electoral umpire, followed his emergence as winner of 2011 Presidential election, which he scored 22,495,187 votes, the highest number of votes cast, and scoring at least 25 per cent of the votes in 31 states of the federation, obviously more than the two-thirds majority votes required by law. Already, President Jonathan and his Vice, Namadi Sambo had been issued certificates of return by the National Chairman of INEC.

Addressing Nigerians shortly after his declaration as president-elect, Jonathan listed what could be termed the agenda of his administration, prominent among which is the desire to intensify efforts at ensuring security, peace and development of the country, no matter whose ox is gored. He expressed sadness over “the destruction of lives and property” by the youths in the northern part of the country, and advised Nigerians, especially his political opponents to see his victory as “no victor, no vanquished”. According to Jonathan, “I am the President of all Nigerians; come and join me for national transformation”.

What’s more, former President Olusegun Obasanjo also bared his mind on Jonathan’s victory and the bloody political violence that followed, and admonished Nigerian politicians to see election as a game which “some people are bound to win”, while others are bound to lose”. He therefore, called on the political class, especially those who lost in the presidential election, to advise their supporters not to take the law into their hands, so that Nigeria can move to the next level in her democratic process.

That said, as Jonathan, an indigene of Bayelsa State, a core state in the Niger Delta region, awaits his swearing-in again as president of the country, come May 29, 2011, there cannot be a better time than now for him to take pragmatic steps to accelerate the development of the Niger Delta. Yes, this will convince the poor indigenes of the region about the commitment of the Jonathan-led administration to the socio-economic transformation of the long-neglected Niger Delta area.

Happily, with the relative peace being witnessed in the region now, following the amnesty programme, mid-wifed by late President Yar”Adua, there are very strong indications that the oil-rich Niger Delta region would begin to witness concrete steps in terms of projects delivery than mere talkshops.

Sadly, the politics of the development of the Niger Delta area had, for too long, been lingering with the region being enveloped in under-development. Therefore, Nigerians and indeed, Niger Deltans would be sleeping with their eyes open to see what the Jonathan-led regime has in stock for the region.

Being a Niger Deltan, and a former Bayelsa State Governor, Jonathan is certainly not a stranger to the problems of the oil-producing communities in the area. Therefore, as president of the country in the next four years, it behoves him, to begin to focus on the mega-projects that would, in no distant time, turn things around for the better in the oil-rich region.

What’s more, Jonathan is not a novice to the problems of the area; he knows the terrain very well, and more importantly, he understands the mentality of ex-militants and he is fully abreast of the yearnings and aspirations of his people in the Niger Delta region.

Yes, such credentials are quite necessary because there is really no time for Jonathan to waste on formulating new plans. Well, no one is expecting him to reinvent the wheel to develop the region. The erstwhile Niger Delta Technical Committee, chaired by Ledum Mitee, has already charted the way forward, as it synthesises the reports and recommendations of previous bodies set up by successive regimes, ostensibly to develop the neglected region.

To make things more easier, the Jonathan-led administration should, as a matter of urgency, adopt the already (well-laid out) Niger Delta Regional Development Master Plan, facilitated by the Niger Delta Development Commission (NDDC)

Again, another sure way to turn things around for the better in the region is for Jonathan to spear-head (so to speak) the implementation of the Ledum Mitee-led technical committee’s report, as well as the master plan. This appears to be the surest strategy to make an enduring impact in the region within the four-year available to Jonathan’s administration.

Unlike in the past, when communities in the oil-rich region were contented with freebies and tokenism, the stage has come in the struggle for the emancipation of the region where drastic and urgent steps must have to be taken to provide succour for Niger Deltans.

Yes, as the number one citizen of this country till 2015, and a Niger Deltan, Jonathan may be the “Joshua” that would take the long-neglected Niger Deltans to the “promised land”. Well, posterity will judge him.

However, this column is not oblivious of the fact that Jonathan is president of the whole Nigeria and not Niger Delta alone. Therefore, while urging him to give the region a new life, it is instructive to state that he should also address urgently, other parts of the country that had suffered long-time neglect, reminiscent of the Niger Delta saga.

That said, one can recall vividly that Mr. Timi Alaibe, former Managing Director of the Niger Delta Development Commission (NDDC), while welcoming the House of Representatives’ Committee on Public Accounts, had blamed the problem of the Niger Delta on the long years of neglect occasioned by the government’s abdication of its responsibility to the citizens of the area. He said with adequate funding, the commission should be able to address some of the infrastructural problem like roads and bridges, which had given rise to the security operatives’ handicap in curbing youth restiveness in remote coastal communities of the Niger Delta.

The problem of NDDC’s under-funding boils down to the unwillingness of the executive to do what is needful in the troubled Niger Delta region. The Jonathan administration, should therefore give the region the priority attention it deserves. It is only by adequately funding the NDDC and the Ministry of Niger Delta that Niger Deltans will be convinced that truly the Federal Government means business to transform the region. The presidency to be led by Jonathan in the next four years, must work in tandem with the National Assembly to solve the Niger Delta saga.

Column

Are the Bears Wrong About the Looming Glut in Oil?

Published

2 weeks ago

September 8, 2025

The Tide

The oil market is oversupplied while demand growth is slowing down. This has become the dominant assumption among oil traders over the past two years, repeatedly reinforced by analyst outlets. Assumptions, however, are often wrong, especially when not based on physical data.

The International Energy Agency’s latest monthly report, for instance, said that the world is facing a record overhang of crude oil, set to unfold in the final quarter of this year and extend into the first months of 2026.

The expected glut was attributed to lower-than-expected oil consumption in several large developing world markets, combined with rising production in both OPEC+ and elsewhere, notably in the United States, Canada, Guyana, and Brazil.

The investment banks also see a glut, as they tend to do unless there is a war breaking out somewhere.

Goldman Sachs recently forecast Brent crude would drop below $55 per barrel next year, citing a supply overhang of 1.8 million barrels daily at the end of this year, very much in tune with the IEA.

Morgan Stanley is more guarded in its forecasts but still assumes abundant supply, as does ING in most of its regular commodity market notes. But there are some exceptions.

One of these has recently been Standard Chartered, which has bucked the trend of doomsaying among oil price forecasters, noting bullish factors that other forecasters either ignore or overlook.

The other is Oxford Energy, which this week released a report taking a close look at the physical oil market. Surprisingly, for many, the physical market does not show evidence of a glut forming anytime soon.

Crude oil inventories are always a good place to start, and that is exactly where Oxford Energy starts, noting that inventories in the OECD have only gained a rather modest 4 million barrels over the first six months of the year.

This modest increase means OECD oil stocks are still substantially below the five-year average, the research outlet noted, adding that the gap with that average was 122 million barrels.

The inventory situation is similar in the United States as well, even though the benchmarks slide every Wednesday when the U.S. Energy Information Administration reports a crude inventory draw.

Over a longer period, however, inventories have trended down, suggesting demand is pretty healthy and the threat of a massive glut may well be a bit exaggerated.

So, what about inventories outside of the OECD and outside of the United States? China, notably, has been building up its oil in storage, taking advantage of discounted sanctioned Russian crude.

Earlier this year, media reports said Chinese crude oil inventories had hit a three-year high, suggesting demand growth was lagging behind refinery processing rates.

There have also been repeated warnings about slowing oil demand in the world’s largest oil importer—even when imports increase and so do processing rates at Chinese refineries.

Oxford Energy notes, however, that since China does not report inventory information, it is difficult to get an accurate number on oil stocks and estimates produced by data trackers vary too widely to offer reliable information.

Another factor to take into account when studying oil price prospects is floating storage, according to the analysts. This boomed in 2020 when lockdowns decimated demand and supply turned excessive.

After the end of the pandemic, oil in floating storage declined before rising again amid Western sanctions on Russia. Still, Oxford Energy notes, the level of oil in floating storage remains below the levels reached in 2022.

Then there is the matter of oil products. If there is too much supply around, some of it would go into storage—including expensive floating storage—but the rest would be turned into fuels and other products.

Once again, all eyes are on China, where another surprise is waiting. Per Kpler data cited by Oxford Energy, oil product exports from China have not gone higher.

They have actually gone down by 10% and remain weak. One reason for this is, of course, government quota-setting. Another, however, may well be healthy demand for fuels at home.

As the oil market awaits OPEC’s next meeting to start exiting its positions in anticipation of that glut, it may be wise to keep the physical market in mind, along with the fact that the IEA has repeatedly had to revise its own forecasts as physical world data comes in and refutes them.

More interesting, however, is this quote from a recent note from ING analysts: “The scale of the surplus through next year means it’s unlikely the group [OPEC+] will bring additional supply onto the market.

“The bigger risk is OPEC+ deciding to reinstate supply cuts, given concerns about a surplus.”

If there is a massive surplus on the way, any new cuts from OPEC+ should have a limited effect on prices, just as they did over the past two years. But maybe that massive surplus is not so certain, after all.

Column

Renewable Energy Faces Looming Workforce Crisis

Published

1 month ago

August 18, 2025

The Tide

Despite a discouraging political climate and unprecedented uncertainty in the United States clean energy sector, low costs of wind and solar energy continue to drive growth of the domestic clean energy sector.

However, while market forces continue to support the expansion of renewable energy capacity, the sector faces critical challenges extending beyond the antagonism of the Trump administration.

The continued growth of solar and wind power risks being hampered by several mitigating factors, including (but not limited to) intensifying competition over increasingly scarce suitable land plots, stressed and volatile global supply chains, lengthy and unpredictable development processes, Complex and overlapping permitting processes, and a critical talent gap.

The renewable energy labor shortage has been years in the making, but is no less closer to resolution. The issue spans both white collar and blue collar positions, and threatens to kneecap progress in the booming sector.

Between the years of 2011 and 2030, it is expected that global levels of installed wind and solar capacity will quadruple. Analysis from McKinsey & Company concludes that “this huge surge in new wind and solar installations will be almost impossible to staff with qualified development and construction employees as well as operations and maintenance workers.

“It’s unclear where these employees will come from in the future,” the McKinsey report goes on to say.

He continued that “There are too few people with specialized and relevant expertise and experience, and too many of them are departing for other companies or other industries.”

The solar and wind industries are suffering from a lack of awareness of career paths and opportunities, despite their well-established presence in domestic markets.

Emergent clean energies face an even steeper uphill battle. Geothermal energy, for example, is poised for explosive growth as one of vanishingly few carbon-free energy solutions with broad bipartisan support, but faces a severe talent gap and punishingly low levels of awareness in potential talent pools.

But while the outlook is discouraging, industry insiders argue that it’s too soon to sound the alarms. In fact, a recent report from Utility Drive contends that “solutions to the energy talent gap are hiding in plain sight.”

The article breaks down those solutions into four concrete approaches: building partnerships with educators, formulating Registered Apprenticeship pathways, updating credential requirements to reflect real-world needs, and rethinking stale recruitment strategies.

Targeting strategic alliances with educational institutions is a crucial strategy for creating a skilled workforce, particularly in emerging sectors like geothermal energy.

Businesses can, for example, partner with and sponsor programs at community colleges, creating a pipeline for the next generation of skilled workers. Apprenticeships serve a similar purpose, encouraging hands-on learning outside of the classroom. Such apprenticeships can apply to white collar positions as well as blue collar roles.

“If we can figure out a way to educate the younger generation that you can actually have a career that you can be proud of and help solve a problem the world is facing, but also work in the extractive industry, I think that could go a long way,” said Jeanine Vany, executive vice president of corporate affairs for Canadian geothermal firm Eavor, speaking about the geothermal energy talent gap.

These approaches won’t solve the talent gap overnight – especially as political developments may discourage would-be jobseekers from placing their bets on a career in the renewables sector. But they will go a long way toward mitigating the issue.

“The clean energy transition depends on a workforce that can sustain it,” reports Utility Drive. “To meet the hiring challenges, employers will benefit from looking beyond the next position to fill and working toward a strategic, industry-wide vision for attracting talent.”

By: Haley Zaremba

Column

Is It End For Lithium’s Reign As Battery King?

Published

2 months ago

August 1, 2025

The Tide

Lithium-ion batteries power the world around us. Their prevalence in our daily life is growing steadily, to the extent that lithium-ion batteries now power a whopping 70 percent of all rechargeable devices.

From electric vehicles to smartphones to utility-scale energy storage, lithium-ion batteries are increasingly forming the building blocks of innumerable sectors.

But despite its dominance in battery technologies, there are some serious issues with lithium supply chains that make it a less-than-ideal model upon which to base our world.

Not only is extracting lithium often extremely environmentally damaging, it’s deeply intertwined with geopolitical pressure points. China controls a huge portion of global lithium supply chains, rendering markets highly vulnerable to shocks and the political will of Beijing.

China’s control is particularly strong in the case of electric vehicle batteries, thanks to a decade-long strategy to outcompete the globe.

“For over a decade, China has meticulously orchestrated a strategic ascent in the global electric vehicle (EV) batteries market, culminating in a dominance that now presents a formidable challenge to Western manufacturers,” reports EE Times.

The effect functions as “almost a moat” around Chinese battery production, buffering the sector against international competition.

The multiple downsides and risks associated with lithium and lithium-ion battery sourcing is pushing EV companies to research alternative battery models to power the electric cars of the future.

There are a litany of lithium alternatives in research and development phases, including – but not limited to – lead, nickel-cadmium, nickel-metal hydride, sodium nickel chloride, lithium metal polymer, sodium-ion, lithium-sulfur, and solid state batteries.

Solid state batteries seem to be the biggest industry darling. Solid-state batteries use a solid electrolyte as a barrier and conductor between the cathode and anode.

These batteries don’t necessarily do away with lithium, but they can eliminate the need for graphite – another critical mineral under heavy Chinese control. Plus, solid state batteries are purported to be safer, have higher energy density, and recharge faster than lithium-ion batteries.

While solid-state batteries are still in development, they’re already being tested in some applications by car companies. Mercedes and BMW claim that they are already road-testing vehicles powered by solid-state batteries, but it will likely be years before we see them in any commercial context.

Subaru is on the verge of testing solid-state batteries within its vehicles, but is already employing a smaller form of the technology to power robots within its facilities.

However, while solid-state batteries are being hailed as a sort of holy grail for battery tech, some think that the promise – and progress – of solid-state batteries is overblown.

“I think there’s a lot of noise in solid state around commercial readiness that’s maybe an exaggeration of reality”, Rivian CEO RJ Scaringe said during an interview on this week’s Plugged-In Podcast.

Sodium ion batteries are also a promising contender to overtake lithium-ion batteries in the EV sector. Sodium is 1,000 times more abundant than lithium.

“It’s widely available around the world, meaning it’s cheaper to source, and less water-intensive to extract”, stated James Quinn, the CEO of U.K.-based Faradion. “It takes 682 times more water to extract one tonne of lithium versus one tonne of sodium.That is a significant amount.”

Bloomberg projections indicate that sodium-ion could displace 272,000 tons of lithium demand as soon as 2035.

But even this does not signal the death of lithium. Lithium is simply too useful in battery-making. It’s energy-dense and performs well in cold weather, making it “indispensable for high-performance applications” according to EV World.

“The future isn’t lithium or sodium—it’s both, deployed strategically across sectors…the result is a diversified, resilient battery economy.”

By: Haley Zaremba