Connect with us

Business

Proposed Nuclear Power Plants’ll Boost Electricity – Expert

Published

on

A Russian nuclear energy expert has said that the construction of a proposed Nuclear Power Plant (NPP) in Nigeria is capable of delivering stable and affordable electricity in the country.
Dmitry Shornikov, also the Chief Executive Officer, Central and Southern Africa, Nuclear Energy Corporation (ROSATOM), said this in an interview text emailed to newsmen in Abuja yesterday.
According to the expert, another advantage of NPP is the predictability of the price of electricity, which has a life span range of between 60 to 80 years.
“Another proven advantage of nuclear power is its environmental friendliness, NPPs do not emit any harmful substances into the atmosphere during their operation.
“First and foremost, I have to point out that nuclear energy is not a competitor with other energy sources but rather a compliementary base load source.
“Nuclear power is characterised by the very large amount of energy available from a very small amount of fuel.
“The amount of waste is correspondingly very small, for example, 25 tons of uranium generates roughly the same amount of electricity as 2.7 million tons of coal.
“The nuclear sector is also the only energy sector that safely stores 100 per cent of all its waste.
“As far as security of supply goes, nuclear is unrivalled, new generation NPPs are able to achieve net capacity factors of well over 90 per cent, whereas renewable sources for instance achieve far less than half of that.
“The net capacity factor is essentially the ratio of a power plants’ actual output over a period of time, when compared to its potential output if it were possible for it to operate at full capacity continuously over same period of time.
“Nuclear energy, therefore, becomes a vital component in the development of a clean energy mix in any country.’’
He said that the primary energy consumption in Nigeria was largely through traditional biomass and waste, consisting of wood, charcoal, manure, and crop residues.
This, according to him, accounts for 74 per cent of energy mix in Nigeria.
“This high share represents the use of biomass to meet off-grid heating and cooking needs, mainly in rural areas.
“The International Atomic Energy Agency (IAEA) estimated that 115 million people in Nigeria rely on traditional biomass and waste as their main sources of energy.
“The other 26 per cent is made up of oil, gas and hydropower. In recent years, the electricity production from hydroelectric sources has plunged due to water shortages and climate change.’’
On safety concerns raised over the proposed NPP in Nigeria, Dmitry said; “Modern nuclear reactors and plants have proved to be real ‘workhorses’ for developed and developing countries.
“They are among the safest and most secure industrial facilities in the world.’’
He said the multiple layers of physical security, inherent in NPP, together with high levels of operational performance, protects plant workers, the public and the environment.
“Nuclear plants are well-designed, operated by trained personnel, defended against all forms of attacks and prepared in the event of an emergency.
“All the standards in the sphere of NPP construction and exploitation are well elaborated and being monitored constantly by high-level team of international experts from IAEA and key Member-States.
“Stringent international regulation, automated, redundant safety systems and the industry’s commitment to comprehensive safety procedures keep nuclear power plants and their communities safe.”
Meanwhile, Nigeria is among the African Regional Cooperative Agreement for Research, Development and Training Related to Nuclear Science and Technology (AFRA) a regional cooperative aspect of IAEA.
Dmitry said Nigeria needs to diversify to other energy sources like nuclear power as “not many sources alone can provide a sustainable, economically viable and secure supply of electricity.
“Therefore, an energy mix is crucial because different sources can bring together these three factors’’.
“Hydrocarbons such as coal for instance are economically viable and offer stable power but are unfortunately very bad for the environment.
“Renewable such as wind and solar are great for the environment but are irregular by nature, and only produce electricity when the wind is blowing or the sun is shining.
“There is unfortunately no economically viable methods of storing power at this point.”
He said it was also important not to be overly dependent on a single source of power, as many African countries were excessively dependent on hydro, which has proved detrimental in the ever changing climate conditions.
Dmitry said the inclusion of nuclear energy to Nigerian’s energy mix would provide much needed diversity and stability to the country’s energy mix.
“Nuclear energy and renewable are not mutually exclusive, each of them has its advantages and models of use, both sources are clean and eco-friendly.”
He said a recent analysis conducted by the Nuclear Energy Institute (NEI) indicated that nuclear plants create some of the largest economic benefits when compared to all other generating sources.
According to NEI, the operation of a nuclear plant requires the highest number of skilled workers per kWh produced when compared to any other technology.
“On average, these jobs pay 36 per cent more than the average salaries in the area where the plant is constructed.
“New plant construction creates a direct demand for thousands of locally sourced skilled labourers such as welders, pipefitters, masons, carpenters, millwrights, sheet metal workers, electricians’ and heavy equipment operators among others.
He further listed benefits to be derived from the implementation of NPP projects to include availability of local investments aimed at maintaining the well-being of the region and development of science and technology.
The ROSATOM official said that the continuous development of the sectors would transform the country into a major economic force on the continent and on the global market.

Continue Reading

Business

Eradiri Faults NDDC Leadership Structure Wants Agric As Top Priority

Published

on

The Special Adviser to the Sole Administrator of the Niger Delta Development Commission (NDDC) on Youths, Udens Eradiri, has faulted the leadership structure of the commission, saying it has not helped the cause of the Niger Delta in the last 25 years.
Describing the leadership structure of the NDDC as faulty, he said that the faulty leadership structure was the reason why President Muhammadu Buhari ordered for a forensic audit in the commission.
Eradiri who is the former president of the Ijaw Youths Council (IYC)
disclosed this while speaking to aviation correspondents, last Friday, shortly on arrival at the Port Harcourt International Airport, Omagwa, from Abuja. 
He said the outcome of the forensic audit would be used to do a wholistic reorganisation of the organogram of the commission.
According to him, the wholistic review of the organogram of the NDDC will help in putting the leadership structure in order, and enable things to function properly.
“The leadership structure of NDDC in the past years had been faulty, and that was why the President said there should be forensic audit, which would be used to do a wholistic review of the organogram of NDDC, so that it can function properly.
“The new board is coming soon, but the whole process will pass through the National Assembly to be cleared”, Eradiri said.
On the achievement of the present NDDC management, the special adviser said that the Effiong Akwa led administration had recorded some landmark achievements compared to the last 25 years. 
He said that the present interim management within two years completed and commissioned the headquarters of the NDDC, which had been left for over 25 years.
He also said that the completion of the East-West road project had intensified under the present management, adding that NDDC has also supported states on sanitation through donation of trucks.
Eradiri, however, admitted that the present interim management had not taken a firm stand on agricultural development even though it has been working with the Central Bank of Nigeria on the Anchor Borrowers Scheme.
“I believe that the only tool to use and get ourselves out of the quagmire we find ourselves is agriculture, and I think that the NDDC can design its own scheme on how to grow agriculture as a deliberate policy.
“This will bring change that will grow the region’s economy. We must talk about agricultural processing, and we can put palm oil into sachet, and even students can be buying them,” he said.

By: Corlins Walter

Continue Reading

Business

Nigeria Lost N851bn To Oil Theft, Sabotage   – NEITI

Published

on

Nigeria lost N851.84bn ($2.78bn) to oil theft and pipeline sabotage in 2019, the Nigerian Extractive Industry Transparency Initiative (NEITI)   has said.
NEITI said this in its latest oil and gas industry audit report.
NEITI stated that it arrived at the estimate after using an average price of $65.61 per barrel and an average exchange rate of N306.42/$ .
It, however, noted that there was a significant reduction of 21 per cent from the previous year, where 53.28 million barrels were lost.
Losses such as these are recorded by companies whose crude volumes are carried through pipelines easily compromised by saboteurs.
The report also stated that some oil terminals recorded no production. These included Aja operated by Bayelsa Oil, whose license was revoked by the government.
Others were Asaramatoru and Oyo managed by Prime and Allied/CAMAC who were reportedly inactive for the year.
Nigeria earned a total of N10.49tn ($34.22bn) from crude oil and gas sales. This was a marginal 4.88 per cent increase from 2018 revenues of N9.99tn ($32.63bn).
The total crude oil production recorded was 735.24 million barrels, a 4.87per cent increase from 701.10 million barrels reported in 2018.
A total of N2.145tn ($7.011bn) was the domestic sales proceeds in 2019 from 107.24 million barrels of crude oil. This was 0.36 per cent lower than the domestic crude sales of 107.63 million barrels in 2018.

Continue Reading

Business

Residents Task New Council Chairmen On Dev, Agric Policies

Published

on

Some residents in the 23 local government areas of Rivers State have urged the newly sworn-in council chairmen in the state to come up with good agricultural and developmental policies that will transform the grassroots.
They also urged the council boss to take pragmatic steps and actions towards tackling security challenges to encourage business activities thrive in their domains. 
Some of the residents who spoke with The Tide at the weekend, noted that the local government administration in the state had not faired well in terms of real development in recent times, and urged the new council helmsmen to change the narratives. 
A resident of Emohua Local Government Area, Mr Charles Amadi, noted that no real development had taken place in the area, lamenting the dearth of companies and small scale industries in the area.
He, therefore, called on the new chairman, Dr. Chidi Lyoid, not to solely depend on the monthly allocation, but to go all out to attract small scale companies to the area so as to create employment opportunities as well as generate revenue for the council.
He also urged the new chairman to invest in agriculture, especially farming and fishing.
On his part, Mr Ebenezer Otamiri who lives in Etche, urged the Etche council boss, Obinna Ayanwu, to consolidate on the achievements recorded in his first tenure, especially by building more markets for the people, as well as initiate good agricultural policy to drive the economy of the area.
He also urged the council boss to tackle the issue of electricity and security in the area, saying electricity and security are key to the development of the area. 
In his own charge, Mr Mene Geoffrey Dekaa who hails from Bori in Khana Local Government Area of the state, called on his new council chairman, Bariere Thomas, to show capacity and competence in the area of security.
He noted that the issue of security has left native imprint in the development of the area, saying many investors have left Bori, the headquarters of the council, for other places.
“Because of security challenges, many people have left Bori to build houses and invest in Nonwa- Tai, and Eleme.
“Areas like Kono-Boweeh communities are no go areas, as people there can hardly sleep. So if the chairman can work with government recognised traditional rulers and security agents, security issues will be tackled, and people’s confidence will be restored, and business activities will move on”, he said.

By: Residents Task New Council Chairmen On Dev, Agric Policies

Continue Reading

Trending