Business
Group Demands End To Energy Crisis In Nigeria
A group, the Oak
Leadership initiative has expressed concern over the lingering energy crisis in the country, accusing the Federal Government of having failed to fix the problem.
It described as unacceptable the huge mental, physical and financial burden the crisis had brought on Nigerians.
Convener of the group, Emrys Ijaola, in a statement said it is a shame that the long queues in petrol stations across the country have become a permanent feature of the cities in a country that produces oil.
He also noted that various promises made by the government to end the crisis have remained unfulfilled.
It noted that outside Abuja and Lagos prices of fuel were at the discretion of the marketers and that the citizens had no choice than to resort to patronizing them and the black marketers.
“The inadequate supply of petroleum products is further compounded by the terribly poor generation and distribution of power and the inexcusable high tariffs electricity consumers are made to pay”, the statement said.
The group urged President Muhammadu Buhari to take responsibility and ensure immediate resolution of the energy crisis rather than the unending apologies to government had been making to Nigerians.
It said, the long term solution to the problem remains sanitisation of the oil and gas industry, security of oil facilities and establishment of more refineries.
The group noted that when more refineries are established and the old ones are made to operate at their full capacities, the issue of huge fuel importation into Nigeria would be over.
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Blue Economy: Minister Seeks Lifeline In Blue Bond Amid Budget Squeeze

Ministry of Marine and Blue Economy is seeking new funding to implement its ambitious 10-year policy, with officials acknowledging that public funding is insufficient for the scale of transformation envisioned.
Adegboyega Oyetola, said finance is the “lever that will attract long-term and progressive capital critical” and determine whether the ministry’s goals take off.
“Resources we currently receive from the national budget are grossly inadequate compared to the enormous responsibility before the ministry and sector,” he warned.
He described public funding not as charity but as “seed capital” that would unlock private investment adding that without it, Nigeria risks falling behind its neighbours while billions of naira continue to leak abroad through freight payments on foreign vessels.
He said “We have N24.6 trillion in pension assets, with 5 percent set aside for sustainability, including blue and green bonds,” he told stakeholders. “Each time green bonds have been issued, they have been oversubscribed. The money is there. The question is, how do you then get this money?”
The NGX reckons that once incorporated into the national budget, the Debt Management Office could issue the bonds, attracting both domestic pension funds and international investors.
Yet even as officials push for creative financing, Oloruntola stressed that the first step remains legislative.
“Even the most innovative financial tools and private investments require a solid public funding base to thrive.
It would be noted that with government funding inadequate, the ministry and capital market operators see bonds as alternative financing.
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