Oil & Energy
NDDC To Establish Dev Bank
The new board of the in terventionist agency, Niger Delta Development Commission (NDDC), may have concluded plans to establish a Niger Delta Development Bank.
The Managing Director of NDDC, Mr. Nsima Ekere, who disclosed the plan at a meeting with ex-militant leaders and youths of the nine NDDC states in Port Harcourt said the bank would provide accessible soft loans to youths of the region.
Ekere explained that the planned bank would grant soft loans to those who had undergone various trainings in order to help them grow their businesses.
He regretted that about 90 per cent of youths of the region that acquired various skills after their training remained unemployed because they lacked adequate funds to start their own businesses, stressing that the Niger Delta Development Bank will change the situation for better.
The NDDC boss, however, appealed to the youths to shun crime as to create peaceful environment that can attract investors to the region, noting that if investors come to the region, it would deepen development, create wealth and employment opportunities for others who would need such to grow.
“Investors believe the Niger Delta region is not safe. We must create a conducive environment for investors to come back to the region because no investor will bring his money to an unsafe place”, Ekere said.
The Managing Director who stressed the need for youths of the Niger Delta region to key into the Federal Government plan to embrace modular refineries and shun illegal refineries, stated that modular refineries would check the environmental degradation in the region, occasioned by activities of illegal refineries.
Youths who participated in the interactive forum expressed satisfaction with the management of the commission, saying such fora provides them the opportunity to understand the plans of the agency better and also make their own inputs.
Chris Oluoh
Oil & Energy
‘Revamping Moribund Refineries ‘ll Address Rising Cost Of Petroleum Products’
Oil & Energy
The Race To Cut Methane Emissions Is Exposing A Global Divide
By Felicity Bradstock for Oilprice.com 16
Oil & Energy
Delta Targets 120MW Power Boost, Moves To Cut Reliance On National Grid
The State Commissioner for Works (Rural Roads) and Public Information, Charles Aniagwu, disclosed this at a press conference in Asaba, weekend, noting that the initiative was part of wider reforms aimed at opening up the power sector to private investors.
Aniagwu, who was accompanied by the Executive Assistant to the Governor on New Media, Felix Ofou, said the state was exploring alternative sources of electricity to support businesses, households and communities while reducing pressure on the national grid.
He said the government was particularly interested in exploiting Delta’s abundant natural gas resources for power generation, pointing to the Kwale Free Trade Zone, which is part of the state’s special economic zone, as a major opportunity for investors.
According to him, prospective investors were taken to the zone during the state’s recent economic summit to enable them to assess the availability of gas as a key raw material for electricity generation. ComparePower Rates
The commissioner explained that generating more electricity locally would not only increase supply in Delta but also free up power on the national grid for use by other consumers.
Aniagwu cited the 8.5MW Independent Power Plant located behind the state secretariat in Asaba as an example of what could be achieved through alternative power sources.
He said the facility had enabled the secretariat complex to operate independently of the national grid, thereby making the electricity that would otherwise have been consumed there available to other users.
He added that the planned 120MW partnership with Supply Power would further strengthen the state’s electricity supply capacity and provide a more reliable power base for small and medium-sized enterprises.
Aniagwu said the state government was also intervening in areas traditionally regarded as the responsibility of electricity distribution companies because inadequate power supply could no longer be allowed to constrain economic development. LearnQuantum Physics
He identified the extension of the electricity grid from Abraka towards the Ndokwa axis as one of the interventions being undertaken to connect more communities to electricity.
The commissioner, however, raised concerns over the burden placed on communities that are often required to provide transformers and other electricity infrastructure, only for distribution companies to take over the facilities and subsequently collect electricity bills without adequately accounting for the investments made by the communities.
He said the state would continue to support efforts aimed at energising communities, noting that improved electricity supply would stimulate businesses, create jobs and help tackle social problems associated with unemployment and idleness.
On regulation, Aniagwu said the government was working with the Ministry of Energy and a committee set up to develop an appropriate regulatory framework for the state’s emerging power sector. SwitchEnergy Plans
He said the proposed energy commission would be responsible for regulating new electricity producers, determining appropriate tariffs and overseeing distribution networks.
The commissioner stressed that liberalising the sector required effective regulation to protect consumers and investors, adding that decisions on power distribution infrastructure, including the use of overhead or underground lines, must take into account the peculiarities and safety requirements of each location.
He warned that power expansion without adequate regulation could expose residents to electrocution and other hazards, stressing the need to protect electricity infrastructure while ensuring consumers were not subjected to unfair pricing.
Aniagwu said the state government’s broader objective was to build an efficient and sustainable electricity market driven by private investment and capable of powering businesses, households and communities across Delta State.
-
Sports4 days agoNigerian Trio Target Titles At PFL Africa Finals
-
Education4 days agoFCE Yola Graduates 3,555 Teachers , Seeks Upgrade to University
-
Niger Delta4 days agoDiri Restates Stance On Lagos-Calabar Coastal Highway
-
Niger Delta4 days agoC’River, NUJ Pay Tribute To Late Guardian Editor
-
News4 days agoNDLEA Recovers Tons Of Illicit Drug Consignments In Nine States
-
Opinion4 days agoChecking Voter Apathy In Nigeria’s Electoral Process
-
Opinion6 hours ago
Ancestorial Worship: My Take (1)
-
Politics4 days ago2027: DICKSON’S EX-ALLY VOWS TO WORK AGAINST NDC INTEREST IN BAYELSA
