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Assembly Approves N500bn Bond for Infrastructure in Lagos

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Rail

The Lagos State House of Assembly has approved the sum of N500 billion worth of bond for the state government spanning between 2016 and 2019.

Presenting a report during plenary yesterday, the Chairman of the ad hoc committee set-up by the assembly on the matter, Hon. Oluyinka Ogundimu, informed the assembly that the bond was necessary for the development of the state and would be repaid through a 23 per cent of the state Internally Generated Revenue (IGR).

He added that all necessary plans are being made to ensure that the money is judiciously spent for the purpose meant for.

In his contribution, the Chairman of the House Committee on Budget and Economic Planning, Hon. Rotimi Olowo, stated that Lagos is the future of Nigeria and that the bond would assist in the infrastructural development of the state.

According to him, “If the bond is geared towards development, it will open the state to other parts of the world and generate more employments for the people.

“We have enough to take care of the bond. By 2019, Nigeria would be out of recession and Lagos would be better for it.”

Also speaking, Hon. Gbolahan Yishawu said Lagos had always been at the forefront of development and that the bond is meant to increase spending and develop the state.

The request was also supported by other lawmakers including Hon. Jude Idimogu, Hon. Olanrewaju Ogunyemi, the Deputy Speaker of the House, Hon. Wasiu Sanni Eshinlokun amongst others.

The Speaker of the assembly, Hon. Mudashiru Obasa, in coordinating a voice vote for the request, reiterated the fact that the bond would help develop the state and ensure adequate infrastructural development of the state.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

Government

Edo Election: Governor Obaseki Cries Out, Says ‘They Are Rigging Me Out’

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Governor Obaseki ‘They Are Rigging Me Out’

Godwin Obaseki, the executive governor of Edo State, has cried out that “there is an ongoing deliberate election manipulation in areas where he has strongholds.”

In a statement issued through Crusoe Osagie, the Special Adviser to the Governor, Osagie said “Suddenly, card readers are not working in areas where Governor Godwin Obaseki is very popular.

“Voters are being disenfranchised and we are constrained to say that this is sabotage,” Osagie said in a statement to media on Saturday during the polls.

“Specifically, in Oredo Ward 1, Unit 20 and other places where the Governor is clearly popular, the card readers are not working.

“The Independent National Electoral Commission (INEC) should prove to Edo voters that it can conduct a credible election in Edo State.”

Earlier in the day, after casting his vote at polling unit 19, ward 4, Oredo local government, Governor Obaseki, who spoke to the media present, said “I expected that INEC would have prepared better for this election. I waited for one and half hours on the queue before exercising my franchise, it’s a beat disappointing,” he said.

“Giving that this is a sole day election, I expected a better planning for this election. Card readers were very slow and that’s the situation everywhere.”

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1.7 million People Registered to vote in Edo, Says INEC

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INEC Says 1.7 million Voters Registered to vote in Edo

No fewer than 1.72 million persons are eligible to vote in the September 19, Edo governorship polls while 483,796 eligible voters will not participate.

This is according to a document obtained from the Independent National Electoral Commission titled, ‘Delimitation of Edo State’.

The document shows that the identified ineligible voters in Edo failed to collect their Permanent Voter Cards.

The document further showed that as of August 2018 there are 2,210,534 registered voters in the state,

However, only 1,726,738 collected their PVCs.

It also indicated that the election will hold in 18 Local Government Areas, 192 Wards, and 2,627 polling units.

A further breakdown of the registered voters shows that male accounts for 1,159,325 (representing 52 per cent), while 1,051,209 (48 percent) are female.

Similarly, from the total registered voters, the youth (18 – 35 years) account for 50 per cent (1,105,338); Middle Aged (36 – 50 years), 29.1 per cent (643,551); and Elderly (51 – 70 years) has 15.99 per cent (353,508).

Eligible voters classified as the Old (70 years and above) account for 4.89 per cent (108,137).

According to the number of collected PVCs, Oredo zone has 240,197; Ikpoba-Okha, 214,882; Egor, 158,817; Etsako West, 128,188 and Akoko Edo, 115,343.

Further distribution of registered voters in the three senatorial districts of the state shows that Edo South has the highest figure of 1,281,414; the North with 564,122; and Central senatorial district has 364,998.

Edo South has seven council areas, the North has six, while Central has five Local Government Areas.

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Government

Kenya Partners Private Sector and Development Partners to Outline Roadmap towards Achieving Energy Efficiency Goals

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Barclays Plaza, Kenya

The Kenyan Government through the Ministry of Energy (MOE) today launched the Kenya National Energy Efficiency and Conservation Strategy (KNEECS or The Strategy) placing Kenya firmly on track toward sustainable consumption and production including renewable energy generation.

The Strategy was developed in collaboration with key stakeholders including the Kenya Association of Manufacturers (KAM) with support from the World Bank and the United Nations Environment Programme (UNEP).

To date, Kenya has made significant progress in energy efficiency and conservation. In 2006, MOE and KAM signed a Memorandum of Understanding to establish a Centre for Energy Efficiency and Conservation (CEEC). Its activities include undertaking energy audits of industries, SMEs and public institutions on behalf of MoE, provision of capacity-building in energy efficiency and conservation, public education and awareness activities and administration of the annual Energy Management Awards (EMA). CEEC has achieved over KES 13 billion (USD 152.8 Million) in energy cost saving equivalent to 2014.8 GWh, translating into a deferment of a 230 MW power plant.

The Strategy now seeks to guide the country further towards achieving its established Energy Efficiency (EE) goals within a defined timeframe. These goals are reducing the national energy intensity by 2.8% per year, and enabling the country achieve a 30 per cent greenhouse gas emission reduction by 2030 relative to Business as Usual (143 MtCO2e) and meet its national targets for Sustainable Development Goal 7 (Affordable and Clean Energy) by 2030.

Through the adoption of The Strategy, the country is expected to use less energy to produce goods and services without compromising on quality and quantity. Further, The Strategy will promote the use of technology that requires minimum energy to perform the same function and adoption of changes in behavior that encourage citizens to use a reduced amount of energy in their daily undertakings.

The Strategy sets targets for five key sectors to achieve its objectives, all of which are to be accomplished within a five-year timeline up to 2025: Households, Power Utilities, Transport, Buildings and Industry & Agriculture. Under the Households Sector, energy efficiency in domestic power consumption is expected to increase by 3%. This will be realized by increasing the number of household appliances such as television sets, subjected to Minimum Energy Performable Standards (MEPS) from the current six to ten and increasing the use of improved efficient biomass cook stoves by 50% of all households currently using biomass cook stoves. In the Utilities Sector, the strategy focuses on reducing transmission and distribution system losses from 23 to 15 % .The Strategy recommends the installation of 1 MW of energy storage facilities, whereby a total KSH. 5 Billion in investments will be required for implementation of energy conservation measures. Further, in the Transport Sector, improvement of fuel economy, increasing the share of electric vehicles to reach five per cent and raising the number of passengers using commuter trains from 116,000 to 150,000 per day are proposes. Similarly, the Building Sector has six targets while the Industry & Agriculture Sector has two.

Alongside these sectoral targets, Kenya aspires to strengthen implementation of energy efficiency and conservation measures. All involved agencies will mobilize resources to improve access to finance for energy efficiency projects and accelerate actualization of the Strategy, particularly the Directorate of Renewable Energy and CEEC. Gender-focused and targeted approaches will be implemented for inclusive participation and benefit. Additionally, awareness creation, citizen engagement, training and capacity-building will be implemented. This Strategy, therefore, calls for private and public sector players to mainstream energy efficiency and conservation in education by establishing a long-term mechanism to achieve a high level of government and public awareness on their importance. This will be accomplished by bolstering relationships and engagements among ministries, inter-ministerial forums, county governments, national governments and climate change units countrywide.

Ultimately, the KNEECS will contribute significantly to the essential areas outlined in the Big Four Agenda of food security, affordable housing, manufacturing and affordable healthcare for all.

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