Connect with us

Column

Information Minister And Journalists’ Pay Rise

Published

on

Information and Communications Minister, Labaran Maku recently rekindled the hope of journalists working with government-owned media organisations that their future is still bright. Indeed, he re-assured media workers that moves were still in the offing to review upward their salary structure in order to beef up their monthly take home pay.

Addressing the national leadership of the Nigeria Union of Journalists (NUJ) who called on him in his office in Abuja, Maku asked the NUJ not to lose sleep on the issue of a better pay package, as obtains in advanced countries and other developing nations.

Besides, Maku, while addressing the leadership of RATTAWU (Radio, Television and Theatre Workers Union), who visited him in his office, not too long ago, also assured the union that everything humanly possible was being done to bring to reality the proposed pay rise for media workers. However, the minister did not say exactly when government will make good its promise (which has lingered on for years) that it would review upward the salary of newsmen in government establishments.

One can recall that over the years, the issue of having a special salary structure for journalists in public service has been a subject of public discourse. Indeed, newsmen working tirelessly with government-owned media organizations have literally (in the past years), wailed to the authorities to place them outside the current remunerative system of federal and state governments, and make the journalism profession more attractive in public organizations.

Sadly, their cries had, as it were, fell on deaf ears. How? Successive regimes in the country (for inexplicable reasons) failed to pull “government journalists” from the shackles of the current civil service salary structure.

Yes, it is an incontrovertible fact that the Nigeria Union of Journalists (NUJ), the umbrella body of journalists, has for many years, been insisting that its members, working with government-owned media, should be placed on a special salary structure to make them have a sense of belonging. But the effort of the union did not pay off as successive administrations continued to treat the matter with levity.

Perhaps, touched by the cries of newsmen, specially the NUJ, Prof. Dora Akunyili, the immediate past Information and Communications Minister, last year, set up a committee to draw up a special salary structure for media men, working with government –owned organizations.

Receiving the report of the committee while she was in office, Prof. Akunyili said time has come in this country for journalists in government media to have a special salary scale, such as nurses, teachers, lawyers, doctors, among others. She noted that the absence of a special salary structure was affecting the psychic of government newsmen.

The minister, thanking the committee for a job well done, assured journalists that the report would be critically studied for onward submission to the appropriate authorities for implementation.

To effectively consolidate the gains in the information sector in the country, it behoves the appropriate authorities to have ensured the immediate implementation of the Prof. Akunyili’s proposed media workers’ salary structure in the country.

One believes fervently that it is high time that government at various levels recognize the immense contributions of journalists to national development; moreso, as they are seen and recognized as the ‘fourth estate of the realm’.

That is why everything must be done to make government employed journalists happy and comfortable to enable them, as “watchdogs of the society”, have a sense of belonging and spur the nation’s desired development through sound information dissemination system.

Happily, the current leadership of the Federal Ministry of Information and Communications has played its part by working out a special media workers salary structure ostensibly to boost the morale of journalists, working with government-owned media.

But, the ministry’s approval of a new salary package for newsmen does not really count. The workability of the approval lies in the implementation of the new salary structure by the federal and state governments.

This is why both the authorities of the ministry and the NUJ must prevail on the various governments in the federation to ensure the approval and implementation of the proposed media workers salary structure. That way, the effort of the ministry in working out an acceptable salary structure for journalists would not be an effort in futility.

Agreed, journalists are not the only group in the civil service to be given such preferential treatment. But given the kind of jobs they do, as ‘Agenda Setters, Voice of the Voiceless and Conscience of the Society,” they (journalists) need to be encouraged (through good salary package) so that their mental and physical well-being will be in proper shape at all times.

Well, it is necessary at this juncture to point out that this is certainly not the first time efforts have been made to pull journalists from the civil service remunerative system. Indeed, past administrations in conjunction with the NUJ, made some palpable moves in this regard, but their efforts did not pay off, as recommendations for new pay rise for journalists were not implemented by the authorities concerned.

Therefore, the federal information ministry, especially the committee that worked assiduously to map out the proposed pay rise, must ensure that it appeals to the conscience of all relevant government agencies so that the implementation of the new salary structure would not be halted by the various governments at all levels.

It is public knowledge that the brain-drain being experienced in government-owned media organizations, is as a result of poor take-home pay in the journalism profession. Sadly, the best brains in journalism profession are already drifting to private media organizations to seek for greener pastures. This is unfortunate, to say the least!

It stands to reason, therefore, that to retain the best brains in government media establishments, the ministry’s recommendation on journalists’ special salary structure must be given the attention it deserves.

But, can the Information Minister ensures the implementation of the proposed special salary scale before he leaves office? This is the mind-boggling question, now being asked by media men, given the short period left for the minister.

Continue Reading

Column

Are the Bears Wrong About the Looming Glut in Oil?

Published

on

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.
Continue Reading

Column

Renewable Energy Faces Looming Workforce Crisis

Published

on

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
Continue Reading

Column

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

Published

on

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
Continue Reading

Trending