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The last couple of weeks in Nigeria have been characterized by several events that point to the generally held view that Nigeria is degenerating into the abyss of a failed state.
However, the unfolding scenario is a case of mixed bag. A mixed bag of bad news and good tidings. The present scenario represents a usual portraiture of a state struggling to earn a place on the positive page of history, among the civilized comity of states on the globe.
The recent attack on the media institutions in Nigeria has become a talking point. The attack on TVC, The Nation News Paper, Lagos TV and Traffic Radio as follow up to the ENDSARS protest debacle has been described as an attack on the media institution in Nigeria.
The attack is a dangerous development because of the sacred role of the media as a catalyst to development.
An attack on the media is an attack on the rule of Law. The role of the media is enshrined in the constitution of the Federal Republic of Nigeria 1999 as amended. It is therefore sacrilegious to attack this sacred institution under any guise.
The media must not operate with fear and should not be exposed to an insecure environment. It is an overstatement to say that what happened to the media institution in parts of the country during the encroachment on the ENDSARS protest has made worse the authoritarian environment, media professionals are exposed.
It is therefore not surprising that the apex body of the journalism profession, the Nigerian guild of Editors strongly raised its voice against the sordid savagery by demanding adequate security of Media Houses and media operatives.
Thank God the institutions are back on their feet, but are groping in the shadows of fines.
The issue of fines brings to the fore ethical considerations in the media establishments.
The media should embrace ethical principles to avoid unnecessary scrutiny from regulators.The conventional media must not allow the social media to influence it negatively. The issue of credibility in the social media is a baggage the conventional media must not carry.
The media as the fourth estate of the realm should not be grouped among unprogressive institutions because of their role in protecting and defending democracy in Nigeria.
The media is a democratic institution, therefore, any attempt to demonize it, will be counter- productive to the peace and progress that we seek as a nation.
If everything fails, the media should not fail. It is the window of Nigeria to the world. Sadly, uninformed persons who are generally described as hoodlums because of their involvement in wanton looting of public property are products of the failing Nigerian state. Any isolated condemnation or stigmatization of this unfortunate group of persons is therefore a misjudgment. It would be sanctimonious to think that they do not reflect our collective failure as a people, families and nation
Another sad commentary in the negative intrusion on the ENDSARS Protest is the destruction of courts described by lawyers as the temple of justice. When the anger of a people descends on the courts there is a clear signal that the level of depravity among the populace is increasing in leaps and bounds. It is a call to reposition the justice system for the interest of all, irrespective of class and gender or creed.
The entire Nigerian population must be positively mobilized through reorientation and born again behavior of the judiciary to respect the courts. If the high and mighty in the past as in the case of Rivers State for example in 2014, had shown serious disdain for the judiciary what would the ordinary man in the street do? The locking of the courts in that era was a bad signal.
At the level of value orientation and family value, what is an eleven-year-old child doing in a rampage among the so called hoodlums who hijacked the ENDSARS protest in Benin, Edo state? An eleven-year-old child joining the fray with a police uniform and declaring himself a DPO is the height of child abuse and sickening depravity. Shame to the adults present at the scene who urged him on, and hailed him the DPO.
Nigeria is breeding a bleak future for the younger generation.
It is most unfortunate that those who have been complaining of being shortchanged and marginalized encouraged and enjoyed this drama of the absurd. That incident and others are evil compasses leading the younger generation to where.
That a section of the youth population saw the ENDSARS protest as a trigger to perpetrate hate attack, loot and destroy public and private properties to say the least is misplaced and calls to question the moral psyche of the average Nigerian.
Nigeria can be described as the mythical evil snake that eats its tail. How for example can one describe the story of a young man who was rescued from the jaw of death along the street during the demonstration in Lagos. The young man was reported to have stolen the phone of a nurse that nursed him to life in the same hospital that took him in pro bono.
There is however a sign of hope for the younger generation of Nigerians. Young persons who looted public property in Ogun State were reported to have returned their loots at the behest of the Governor who announced amnesty for anyone who would return them. That a large number of young people returned their looted items exemplifies hope of a remorseful youth population.
According to Abraham Lincoln “if once you forfeit the confidence of your fellow citizens, you can never regain their respect and esteem.”
The leadership of this country has lost the confidence of the young adults; will they ever get it back? May be they will, if they make a swift turn around to do the needful without reneging.
The freezing of the account of twenty ENDSARS PROTEST sponsors is a sad commentary that needs to be revisited by the central Bank of Nigeria urgently.
It epitomizes a government that speaks from two sides of the mouth. Federal Government had earlier acknowledged the protest as legitimate. The sudden show of prevarication by FG and their agents, is a blatant betrayal of trust that is direly needed to move the country on the wheel of development.
By: Bon Woke
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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.
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
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
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