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Govt Plans PPP to Improve Water Supply

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  • Govt Plans PPP to Improve Water Supply

The Federal Government plans to promote Public Private Partnership as an effective approach to increasing investment in the water resources sector, the Minister of Water Resources, Suleiman Adamu, has said.

Adamu stated that additional strategies that had been adopted to enhance the sector and ensure efficient use of current and future investments included the adoption of renewable energy, such as solar, to power water supply and irrigation facilities, as well as the adoption of drip irrigation to enhance water conservation and efficient irrigation practices.

The minister spoke at the investiture of the 10th President of the Nigerian Academy of Engineering, Prof Fola Lasisi, in Lagos, where he was represented by the Director-General, National Water Resources Institute, Kaduna, Prof Emmanuel Adanu.

The minister noted that the International Water Management Institute had predicted that Nigeria might become water-stressed between the 2025 and 2050, and that water availability would severely constrain socio-economic development and environmental protection, as it would reduce to less than 1,000 cubic metre per capita, if the current population growth persisted.

Adamu said Nigeria was not able to meet the Millennium Development Goals’ target on access to water supply, particularly with the decline in access in the rural areas.

According to the minister, it has become necessary that concerted efforts must be put in place to improve the trend towards achieving 100 per cent access to water supply by 2030, a time when the population is estimated to grow to 257 million, in accordance with the newly adopted United Nations Sustainable Development Goals.

He said, “Nigeria is blessed with abundant water resources. However, the sustainability is threatened by land degradation, deforestation, rapid population growth, poor sectoral investment, as well as climate change. All of these have placed pressure on the water resources systems of our country.

“It is therefore compelling that we manage our water resources scientifically and professionally in tandem with international best practices. This, therefore explains the intervention we are currently undertaking in the sector. Nigeria is indeed not a water-poor country but due to inequitable distribution, poor sectoral investments and other challenges, can be regarded as potentially water-stressed.”

He stated that a recent study had established that pipe borne water supply, especially in the urban areas, was on the decline from 30 per cent national coverage in 1990 to about seven per cent in 2015, when he came into office.

“This unpleasant revelation made it necessary that we embark on a new aggressive effort to address the situation. In order to be successful, all tiers of government must partner to ensure radical changes and improvement in the sector,” the minister said.

The immediate past President, NAE, Mrs Joanna Maduka, said the theme of the programme, ‘Current developments in Nigeria’s water resources sector’, was in furtherance of the academy’s commitment to positively impact the economy as well as the social life of Nigerians.

She added, “Our responsibility as the NAE is to ensure the advancement of engineering education and practice throughout the engineering family.

“This is achievable through continuous learning, advocacy and strategic collaboration with relevant professional associations and industries. The goal remains the significant improvement of the lives of our people and the state of our society.”

Maduka said the academy, with the support of the Federal Ministry of Science and Technology, produced the maiden edition of its journal, ‘Innovative solutions in engineering’, which was unveiled at the programme.

The academy also gave lifetime achievement awards to eight members among them the 10th president, Lasisi, and inducted new Fellows.

Lasisi said for the next two years, the focus of the activities of the academy would be on developing technology in the country, and this would commence with a retreat by the new council members.

He stated that the immediate past president of the academy had put up a programme for the development of a technology village, which would commence during his tenure.

According to him, the academy will also encourage more cooperation with international and national academies to focus on the three technological challenges of the country, namely: energy, infrastructure and food security.

“The strategic plan that is under development will be used to determine short-term, medium-term and long-term programmes of the academy,” Lasisi added.

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Businessinsider, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

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APM Terminals in Talks with Government for Terminal Upgrade in Apapa

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APM Terminals is engaging in discussions with the government for a significant upgrade at its Apapa terminal.

Keith Svendsen, the Chief Executive Officer of APM Terminals, disclosed the company’s ambitious plans aimed at accommodating vessels with deep drafts and large ship-to-shore cranes.

The upgrade is part of APM Terminals’ long-term vision to bolster import and export opportunities in the country, create employment, and diversify local opportunities.

Svendsen emphasized the importance of fortifying existing port infrastructure, especially in Lagos, to manage increasing trade volumes effectively.

“While greenfield terminals like Lekki and later on Badagry would support economic growth in the long run, the more urgent requirement is in our view to upgrade the existing port infrastructure,” Svendsen commented.

The proposed upgrades seek to facilitate smoother operations, providing seamless connectivity through road, rail, and barge networks to mainline shipping.

Svendsen highlighted the unique position of the Apapa port in offering access to international markets for Nigerian importers and exporters, leveraging not only road but also rail and waterways, utilizing barges.

APM Terminals has been a pivotal player in Nigeria’s maritime sector for close to two decades. The company’s commitment to the nation’s economic growth is underscored by its proposed investment of over $500 million, subject to a long-term partnership with the government.

The Apapa terminal is a vital gateway for trade, handling a significant portion of Nigeria’s container traffic.

Furthermore, APM Terminals’ operations in Lagos and Onne collectively manage about half of the containers in Nigeria, demonstrating their pivotal role in the country’s logistics landscape.

The proposed upgrades signify APM Terminals’ dedication to supporting Nigeria’s economic reforms and attracting international investments.

The company has already invested over $600 million since its inception in Nigeria in 2006, directly employing approximately 2,500 Nigerians and indirectly contributing to employment for about 65,000 individuals.

“At APM Terminals, we believe strongly in the prospects for the Nigerian economy and the long-term opportunities that the current economic reforms and invitation for international investments will generate,” Svendsen affirmed.

As talks between APM Terminals and the government progress, stakeholders are optimistic about the positive impact of the proposed terminal upgrades on Nigeria’s maritime sector and overall economic development.

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Uber Rolls Out Flex Pay Feature: Daily Earnings for Nigerian Drivers

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Uber has rolled out a feature in Nigeria that promises to revolutionize the way drivers receive their earnings.

Dubbed “Flex Pay,” this innovative initiative allows Uber drivers across the country to access their earnings daily, a significant departure from the previous weekly payment system.

The announcement came during a recent media briefing led by Tope Akinwumi, Uber Nigeria’s country manager.

Akinwumi expressed the company’s commitment to supporting its drivers by introducing Flex Pay, which aims to help drivers meet their financial obligations more promptly and efficiently.

With Flex Pay, drivers now have the flexibility to access their earnings directly through their mobile wallets on a daily basis.

This move is poised to bring about a host of benefits for drivers, offering them greater financial stability and control over their finances.

In addition to the introduction of Flex Pay, Uber also unveiled a set of new features designed to enhance the driver experience on the platform.

One such feature is the ability for drivers to see upfront details about a trip request, including the destination and expected fare.

This added transparency empowers drivers to make more informed decisions about which trips to accept, ultimately improving their overall experience on the platform.

Speaking about the new features, Akinwumi emphasized Uber’s commitment to prioritizing the needs and feedback of its driver-partners.

He highlighted the company’s ongoing efforts to innovate and develop solutions that enhance the driver experience and ensure their satisfaction with the platform.

“We are constantly listening to feedback from our driver-partners and striving to provide them with the tools and support they need to succeed,” said Akinwumi.

“The introduction of Flex Pay and other new features is a testament to our commitment to empowering our driver-partners and enhancing their experience on the Uber platform.”

The implementation of Flex Pay marks a significant milestone for Uber in Nigeria, demonstrating the company’s dedication to driving positive change and innovation in the ride-hailing industry.

As drivers begin to benefit from daily earnings and increased transparency, Uber is poised to strengthen its position as a leading provider of flexible earning opportunities in the country.

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Exxon Mobil’s $1.28 Billion Asset Sale to Seplat Energy Set for Approval, Ending Two-Year Wait

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After a prolonged two-year wait, Exxon Mobil’s anticipated $1.28 billion asset sale to Seplat Energy is poised for approval by Nigeria’s oil regulator.

The deal, which has been in limbo since 2022, could finally see the light of day following recent communication from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).

Gbenga Komolafe, the chief of NUPRC, revealed to Reuters on Thursday that the regulatory body is on the verge of giving its consent to the transaction.

Komolafe disclosed that Exxon Mobil and Seplat Energy are scheduled to attend a pivotal meeting on Friday, during which they will discuss the final steps towards approval.

He expressed optimism, stating, “Subject to the outcome of the meeting, consent… could be given in less than two weeks from the date of the meeting.”

According to Komolafe, NUPRC will present the companies with two mutually exclusive options, the acceptance of which would pave the way for the deal’s approval.

While he didn’t delve into specifics, he emphasized that Nigerian law mandates provisions for decommissioning, host community development, and environmental remediation.

“We don’t want our nation to carry unwarranted financial burdens arising from the operations of the assets over time by the divesting entities,” Komolafe asserted, underscoring the importance of responsible asset management.

The $1.28 billion sale holds immense significance for Nigeria’s oil industry, which has faced challenges stemming from underinvestment and security concerns in recent years.

With oil majors like Shell and TotalEnergies divesting from onshore shallow water operations due to security issues, regulatory approval of the Exxon-Seplat deal could inject much-needed capital into the sector.

Analysts view the impending approval as a potential catalyst for improved oil output in Nigeria. Moreover, it could serve as a positive signal to investors, paving the way for similar deals in the future.

The regulatory clearance of Shell’s asset sale to Renaissance in January has further bolstered expectations regarding the viability of such transactions.

As Nigeria looks to revitalize its oil sector and attract investment, the imminent approval of Exxon Mobil’s asset sale to Seplat Energy marks a significant milestone, bringing an end to a prolonged period of uncertainty and setting the stage for renewed growth and stability in the country’s vital energy industry.

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