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FG, OPEC Forge Ties To Ensure Global Oil Market Stability

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The Federal Government has given assurance of its readiness to support every move that will bring about stability in the global oil market.
This was reiterated at a visit by Dr Mohammad Barkindo, the Nigerian born Organisation of Petroleum Exporting Countries (OPEC) Scribe, to the Minister of State for Petroleum Resources, Chief Timipre Sylva, in Abuja.
They both expressed their readiness to work hand-in-hand to ensure stability of the global crude oil market.
Sylva said that Nigeria, as one of the leading oil and gas producing nations in Africa, would continue to abide by the Declaration of Cooperation (DOC) which has gone a long way in stabilising the market for the collective good of the producing and consuming nations.
On his part, Barkindo applauded Nigeria for the key role it has been playing in the global crude oil market, noting that the 50 years partnership between OPEC and Nigeria has impacted the crude oil market positively.
He presented a book entitled “Nigeria and OPEC: 50 years of Partnership,” to mark the golden anniversary of its membership in the Organization of Petroleum Exporting
Can The Biden Administration Meet Its Ambitious Offshore Wind Power Target?
Earlier this year, the Biden administration said it planned to build offshore wind power generation capacity to the tune of 30 GW by 2030, creating more than 44,000 direct jobs and close to 33,000 indirect ones. To date, the United States has wind power capacity of 118 GW. Of this, only 42 MW is offshore wind. And According to IHS Markit, the 30 GW additional capacity target will almost certainly be missed.
Last year, the United States set a record in wind power capacity additions, at 14.2 GW added during the pandemic year. That was a continuation of another strong year in 2019, which also set a record in wind power additions, according to data from the Energy Information Bureau.
However, the reason for this boom in wind power generation capacity was not a simple response to greater demand for wind power. In fact, the reason for the records set in both 2019 and 2020 was the looming phase-out of the production tax credit, which spurred the mass deployment of wind and solar installations.
In December, Congress extended the production tax credit, which provided wind farm operators with a credit of $0.025 per kWh, until the end of this year. There are other incentives available to the wind industry, too. The biggest is the investment tax credit, which covers between 12 and 30 percent of investment costs at the start of the project. As of December, Congress has established a 30-percent investment tax credit for projects that start construction by December 2025.
So, with so much government help for the wind power industry, the 30 GW target in offshore wind should be a no-brainer. Yet, there are other factors at play besides government incentives and it is these factors, according to IHS Markit, that would make hitting the 30 GW target impossible.
For starters, the permitting process for offshore wind projects is lengthy and complicated, IHS Markit’s Andre Utkin wrote in a recent analysis of the topic. Then, there are not enough manufacturing facilities for the turbines, blades, and other equipment that goes into a utility-scale wind farm. The installation process is also tricky: per U.S. legislation, only U.S.-flagged vessels can sail along the country’s coasts. And there are not enough U.S.-flagged wind turbine installation and service vessels, according to IHS’s Utkin.
Then there is the issue of transmission infrastructure. This is insufficient to accommodate an additional 30 GW of wind power capacity, according to the research firm. The transmission infrastructure problem is a global one, by the way. Earlier this year, IHS’s Utkin reported that global offshore wind power capacity was set to expand sixfold by 2030 thanks to technological advances, cost reductions, and government incentives. However, he added, “the industry needs to rapidly develop and invest in new infrastructure to achieve these ambitious plans.”
Finally, there is a regulatory hurdle, albeit not an insurmountable one. The Bureau of Ocean Energy Management tends to conduct lengthy investigations of the impacts of wind farm construction on the environment, which will also likely delay projects.
In all fairness, many of these challenges can be dealt with by legislators, a majority—although slim—of whom are clearly in favor of building the country’s offshore wind power capacity. Some, however, are trickier because they do not depend on favorable policies. One example is the cost of building the necessary transmission infrastructure.
The recent $550-billion bipartisan infrastructure deal struck between the Senate and the White House envisages $73 billion in funding for clean energy generation and transmission. Yet copper prices are rising, and the offshore wind takes massive amounts of copper for its infrastructure. The $73 billion might simply be not enough for that and modernizing the U.S. aging grid.
Slav writes for Oilprice.com

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I’m Committed To Community Dev – Ajinwo

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The Sole Administrator of Emohua Local Government Area, Barr. Franklin Ajinwo, has reaffirmed his unwavering commitment to supporting community development, peace, and progress, describing it as his life’s calling.
Ajinwo made this known on when Okporowo Vanguard—a foremost association dedicated to driving sustainable development in Okporowo community—paid him a courtesy visit at the Council Secretariat, Emohua.

Speaking during the visit, the Emolga  Council boss advised the group to shun internal wranglings and leadership tussles, cautioning that such impediments could undermine their collective goals. He emphasized that unity is strength, and true power comes only from God.

Highlighting his ongoing efforts in repositioning standards within Emohua Local Government, Barr. Ajinwo commended Okporowo Vanguard for initiating plans to conduct large-scale skills acquisition training for young people in Okporowo. He assured them of his steadfast support towards such developmental initiative.

The former Chairman of the National Union of Local Government Employees (NULGE) in Rivers State stressed the need for selfless service, saying it is essential for achieving peace, unity, and development in any community.

He applauded the group’s vision of empowering youths through skills acquisition, aligning it with global best practices aimed at reducing dependency on white-collar jobs.

Earlier, the President of Okporowo Vanguard, Hon. Israel Emeji, outlined Barr. Ajinwo’s numerous and impactful contributions to the development of Okporowo community.

According to him, every family in the community has benefited from Barr. Ajinwo’s dedicated employment initiatives.

Hon. Emeji disclosed that during his tenure as Head of Local Government Administration (HLGA) and as NULGE Chairman, Barr. Ajinwo facilitated the employment of over five hundred (500) individuals from Okporowo community—a record that informed the association’s decision to honour him with the Excellent Leadership Award.

In a vote of thanks, the Secretary of the group, Dr. Okechukwu Godwin Amadi, praised Barr. Ajinwo’s outstanding leadership and unwavering support, both before and after his appointment as Sole Administrator.

He thanked him for the warm reception and appreciated members of Okporowo Vanguard for their strong turnout and continuous support for the present administration.

In their separate remarks, Barr. Kelvin Ajinwo, Chief Polycarp Ndala, and other dignitaries present prayed for God’s continued guidance and protection over Barr. Ajinwo, describing him as a divine gift to the Okporowo community.

They expressed hope that he would be granted even more leadership opportunities to further uplift the living standards of the people.

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RSG Tasks Rural Dwellers On RAAMP  …As Sensitization Team Visits Akulga, Degema, Three Others

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Rivers State Head of Service, Dr (Mrs) Inyingi Brown, has called on rural communities in the State to embrace the Rural Access and Agricultural marketing project (RAAMP) with a view to improving their  living conditions.

This follows the ongoing sensitization campaign by the State Project Implementation Unit (SPIU) visits to Degema, Abonnema, Afam headquarters of Degema, Akuku Toru and Oyigbo Etche and Omuma local government areas respectively.

Dr Brown who was represented by the Deputy Director, Special Duties in her office, Mrs Dein Akpanah, said RAAMP was initiated by the Federal Government and World Bank to economically empower rural dwellers.s

She said the World Bank understands the plights of rural farmers and traders in the State, and therefore came up with the programme to address them.

According to her, RAAMP will improve the conditions of farmers, traders and fishermen, and therefore, behoves on every rural communities in the State to embrace the programme.

The Head of Service also said the programme would support the youths to be gainfully employed while  bridges and roads will be built to link farms and fishing settlements.

Also speaking, the State project coordinator, Mr Joshua Kpakol, said the programme has the potential of creating millionaires among farmers and fishermen in the State.

Kpakol who was represented by Engr. Sam Tombari, said RAAMP would help farmers and fishermen to preserve their produce.

According to him, the project will build cold rooms and Silos for preservation of crops and fishes while access roads will also be created to link farmers and fishermen to the market.

He, however, warned them against any act that will lead to the suspension of the projects by the World Bank.

Kpakol particularly warned against acts such as kidnapping, marching ground, gender based violence and child labour, adding that such acts if they occur may  lead to the cancellation of the project by the World Bank.

During the visit to Oyigbo local government area, Mr Joshua Kpakol, said the team was there to let them know how they will benefit from the Raamp.

The coordinator who was personally at Oyigbo said the World Bank introduced the project to check food insecurity in the State.

He said already 19 states in Nigeria are already benefitting from the project and called on them to embrace the project.

Meanwhile, stakeholders in the three local government areas have commended the World Bank for including their areas in the project.

They, however, complained over the incessant attacks by pirates on their waterways.

At Degema, King Agolia of Ke kingdom said land was a major problem in the kingdom.

King Agolia represented by High Chief Alpheus Damiebi said many indigenes of the kingdom are willing to go into farming but are handicapped by lack of land.

Also at Degema, the representative of the Omu Onyam Ekeim of Usokun Degema kingdom, Osoabo Isaac, said Degema has embraced the programme but needed more information on the implementation of the programme.

Similarly, while High Chief Precious Abadi advised that the project should not be narrowed to only crop farming, a community women leader, Mrs Orikinge Eremabo Otto, called for the construction of cold rooms in all fishing settlements in the area.

At Abonnema, Mr Diamond Kio linked the problem of the area to incessant piracy along waterways.

He also expressed fears over the possibility of the project being hijacked by politicians.

Also at Abonnema, a stakeholder, Ikiriko Kelvin, called on the World Bank to design an agricultural project that will suit the riverine environment, while at Oyigbo, HRH Eze Boniface Akawo expressed satisfaction with the project.

 

John Bibor

 

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Senate Replaces Natasha As Committee Chairman 

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The political mudslinging between the Senate leadership and Senator Natasha Akpoti-Uduaghan continued yesterday as the Senate named Senator Aniekan Bassey as the new Chairman of the Committee on Diaspora and Non-Governmental Organisations.

Senate President, Godswill Akpabio, announced the appointment during yesterday’s plenary, confirming Bassey’s replacement of Senator Natasha Akpoti-Uduaghan, who is currently on suspension.

Akpoti-Uduaghan was reassigned to the Diaspora and NGOs Committee in February after she was removed as Chair of the Senate Committee on Local Content during a minor reshuffle.

Bassey is the senator representing Akwa Ibom North-East Senatorial District.

Although no reason was given for her removal yesterday, the change is believed to be connected to her unresolved suspension.

In May, Justice Binta Nyako of the Federal High Court ordered her reinstatement and directed her to tender an apology to the Senate.

However, the Senate has insisted it has not received a certified true copy of the court judgment.

Akpoti-Uduaghan who represents Kogi Central, has yet to resume her legislative duties despite a recent court ruling that voided her suspension.

In a televised interview on Tuesday, Akpoti-Uduaghan said she was awaiting the Certified True Copy of the judgment before officially returning to plenary, citing legal advice and respect for institutional process.

Although the Federal High Court described her suspension as “excessive and unconstitutional”, a legal opinion dated July 5 and attributed to the Senate’s counsel, Paul Daudu (SAN), argued that the ruling lacked any binding directive to enforce her reinstatement.

Akpoti-Uduaghan, one of only three female senators in the current assembly, said the continued delay in allowing her return was not only a denial of her mandate but also a blow to democratic representation.

“By keeping me out of the chambers, the Senate is not just silencing Kogi Central, it’s denying Nigerian women and children representation. We are only three female senators now, down from eight,” she said.

 

 

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