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FG, Body to Recycle Waste to Fertiliser



lawma truck
  • FG, Body to Recycle Waste to Fertiliser

The Federal Government, through the Federal Ministry of Agriculture and Rural Development, has signed a Memorandum of Understanding with the Agriculture Graduates Association of Nigeria for the recycling of waste to organic fertiliser.a

It was learnt that the first waste recycling plant under the MoU would be constructed in Abuja and was scheduled to commence operations in the first quarter of next year.

The Director, Extension Department, FMARD, Ime Umoh, stated at a press briefing in Abuja on Monday that the ministry would provide technical support for the project, while AGAN would manage other aspects as spelt out in the terms of agreement.

He said, “The FMARD is providing technical support for this project and we have seen that this initiative has capacity to create over 6,000 jobs once it begins operation. We are going to monitor the project in terms of fertiliser production and application, quality of fertiliser, crop selection, etc.

“We have signed the MoU with AGAN because we believe it is a laudable project, particularly when you consider the gains, which it will bring to Nigerians, especially those living in the Federal Capital Territory. A facility that can convert waste to fertiliser is needed in Abuja at this moment.”

The National President, AGAN, Michael Egbuta, said the waste recycling project was a tripartite collaborative programme involving the ministry, the association and the FCT Traditional Council.

He stated that the project intended to address the poor state of municipal solid waste management, as huge volumes of waste were being generated daily in Abuja, while the current waste management practice in the city involved only a linear process of collection and transportation to dumpsites without any treatment.

Egbuta also noted that the project aimed to provide sustainable income sources to youths and women by engaging them in organic fertiliser production from the huge household organic waste and recycling of the non-biodegradable components.

“The organic fertiliser production will be used for farming and sold to other farmers, while the non-biodegradable waste such as plastics, aluminium cans, glass wares, papers, metals, etc. will be processed into recycled raw materials to be sold to local manufacturing industries,” he stated.

He said about 900 hectares of land had been provided by the Federal Capital Territory Administration for the recycling of waste in Abuja, adding that the project was scheduled to commence in the first quarter of next year.

According to him, about $4.59m will be needed to construct the recycling plant, as some prospective sponsors for the project have been contacted.

On how the project will be funded, Egbuta said, “Due to the paucity funds in the post-recession era in Nigeria, we have decided to use crowdfunding option in raising funds to implement this project. Our approach is to allow interested sponsors to be directly involved in the project.

“This means that a partner may choose to sponsor any of the items needed for training project beneficiaries, procurement of equipment or building of the facility in any one or more clusters in the six FCT Area Councils of choice.”

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Inflation and Forex Mismanagement Drive Petrol Truck Prices from N7M to N25M



Petrol Importation -

The Chairman of the Independent Petroleum Marketers Association of Nigeria in the Satellite Depot branch, Akin Akinrinade, has raised an alarm over the rising cost of petrol trucks in Nigeria.

According to Akinrinade, the cost of a petrol truck has surged from N7 million in May to an astonishing N25 million at present, attributed to inflation induced by poorly managed foreign exchange rates.

Akinrinade pointed out that the forex mismanagement has significantly impacted the landing cost of premium motor spirit (PMS), commonly known as petrol, consequently leading to a surge in pump prices.

The unstable business environment, coupled with the astronomical rise in expenses, has created challenges for marketers in the downstream oil sector.

Mele Kyari, the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), highlighted in October 2023 that foreign exchange challenges have hindered private companies from importing petroleum products.

As a result, the NNPCL has become the exclusive importer of petrol.

The decision to limit private entities from importing fuel comes after President Bola Tinubu’s initiatives aimed at deregulating the fuel market.

Initially, the plan was to allow private companies to import fuel starting June 2023, aligning with efforts to balance the market after removing petrol subsidies.

The ripple effects of the soaring petrol costs are already evident, with commercial transporters increasing fares, and private car owners seeking fuel-saving alternatives.

As Christmas approaches, the surge in demand for interstate travel is expected to further elevate costs, posing financial challenges for many Nigerians amidst stagnant income levels.

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Nigeria’s Presidential CNG Initiative Allocates N100bn for CNG Buses and EV Adoption




The Presidential Compressed Natural Gas (CNG) Initiative has allocated N100 billion to expedite the deployment of CNG buses nationwide, according to a statement released on Wednesday.

The initiative, designed to catalyze an Auto-gas and Electric Vehicle (EV) revolution in mass transit and transportation, aims to enhance sustainability and cost-effectiveness.

The statement revealed that the fund would be instrumental in supporting the adoption of auto-gas and electric vehicles, signaling a commitment to a more sustainable and economical future in the transportation sector.

The Presidential CNG Initiative plans to leverage over 11,500 CNG and electric-fueled vehicles, along with the deployment of 55,000 conversion kits.

This strategic approach is intended to reduce transportation costs for Nigerians and mitigate the challenges posed by the rising cost of living.

Under the Renewed Hope Agenda, the Presidential CNG Initiative is dedicated to realizing the President’s vision, guided by its steering committee led by FIRS Chairman Zacch Adedeji.

The statement highlighted recent achievements, including strategic technical partnerships and the ongoing commissioning of CNG Conversion centers in key states such as Lagos, Abuja, Kaduna, Ogun, and Rivers.

Several more centers are slated for commissioning in the coming weeks, reflecting the initiative’s momentum and commitment to achieving its objectives.

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Nigeria’s Power Transformation: 53 Projects Worth N122bn on Track for May 2024 Completion



power project

The Central Bank of Nigeria (CBN), in collaboration with the Transmission Company of Nigeria (TCN) and power distribution companies, is set to complete 53 power projects by May next year.

Valued at N122 billion, these projects aim to add over 1,000 megawatts to TCN’s wheeling capacity.

During a recent tour of three ongoing projects in Lagos, TCN’s Programme Coordinator, Mathew Ajibade, assured that the projects were not abandoned, refuting speculations.

He confirmed that work is progressing smoothly and is expected to be completed by May 2024, as initially planned.

Assistant Director/Head of Infrastructure Finance Office at the CBN, Tumba Tijani, highlighted the CBN’s support for the power sector, revealing that the bank released a loan at a 9% interest rate in August last year for the projects.

The funding, part of the Nigeria Electricity Market Stabilisation Facility-3, amounts to N122,289,344 and aims to address transmission/distribution bottlenecks, enhance supply to end-users, and unlock unutilized generation capacity.

Tijani disclosed that N85.43 billion has been disbursed into the Advance Payment Guarantee account of the 53 contractors responsible for executing the projects.

The comprehensive project list includes the delivery of power transformers, re-conductoring existing transmission lines, upgrading existing substations, and constructing 33KV line bays.

The initiative reflects a concerted effort to enhance Nigeria’s power infrastructure and meet growing energy demands.

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