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FG Sets Up Committees To Deliver N2tn Mambilla Power Project

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  • FG Sets Up Committees To Deliver N2tn Mambilla Power Project

The Federal Government on Monday set up two committees for delivery of the nation’s biggest dam project, Mambilla Hydroelectric Power Project.

The two committees approved for the N2tn power project are; the Inter-ministerial Steering Committee and Project Delivery Committee.

The Inter-ministerial Steering Committee will be chaired by the Minister of Power, Sale Mamman, while the project delivery committee will be headed by the director in charge of Renewable Energy in the Federal Ministry of Power.

According to a statement made available by the Special Assistant to the Minister of Power on Media and Communications, Aaron Artimas, the Inter-ministerial Steering Committee were representatives of Federal Government agencies and Taraba State Government.

The Federal Government agencies involved were ministries of Water Resources, Environment, Finance, Budget and National Planning, Works and Housing, Justice, Information and Culture, and Mines and Steel Development.

Others included representatives of the Secretary to the Government of the Federation, National Security Adviser, Nigeria Sovereign Investment Authority and the Nigeria Customs Service.

The Inter-ministerial Steering Committee would also facilitate and fast-track the execution, delivery of the Mambilla hydroelectric power project.

Also, the Committee is given six months to finalise the review of the project engineering and technical design concept to achieve optimal efficiency and benefit the immediate target market (the North-East geopolitical zone).

They are to also obtain approval of the loan facility from the China Exim Bank for the offshore component of the project based on the reviewed contract price.

Artimas noted that the Inter-ministerial Steering Committee will be supported by the Project Delivery Committee, which will be responsible for overseeing the implementation of the project in line with agreed timelines and deliverables.

The delivery committee will oversee the design of a framework for post-project operational management that will ensure that the project starts performing from the point of delivery.

Artimas added that an independent consultant would coordinate the administrative and the stakeholders’ aspect of project implementation.

What You Should Know:  The Mambilla power project is a 3050 megawatts (MW) hydroelectric facility that will be connected to three dams across the Donga River in Taraba State.

The project which is expected to begin operation in 2030, will be producing approximately 4.7 billion kWh of electricity in a year.

It is estimated to cost about $5.8 billion and also generate up to 50,000 local jobs during the construction phase.

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Economy

Criminals Vandalise 65 Pipeline Points in April

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pipleline vandalisation

65 Pipeline Points Vandalise in April

The Nigerian National Petroleum Corporation has said 65 pipeline points were vandalised in the month of April by criminals.

In the corporation report released on Wednesday for the month of April, NNPC said this represents a 240 percent increase from the 19 points recorded in the month of March 2020.

The report also noted that Nigeria’s total crude oil production rose by 3.17 million barrels or 5.28 percent to 63.19 million barrels in the month of March, representing a daily average of 2.04 million barrels per day.

Meanwhile, in another related development, the NNPC said it incurred over 200 percent operating deficit in the month of April.

It said, “The report in April 2020 indicates an increased trading deficit of N30.81bn compared to the N9.53bn deficit posted in March 2020.

“The current hike of over 200 per cent is attributed to the 29 per cent increased deficit for NPDC due to ongoing coronavirus-related impact of reduced exports, coupled with the upsurge in corporate headquarters deficit arising from terminal benefits made to retired staff.”

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NNPC Operating Deficit Hits N30.81bn in April

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NNPC

NNPC Operating Deficit Rises by Over 200% to N30.81bn in April

The Nigerian National petroleum Corporation (NNPC) said its operating deficit rose N30.81 billion in the month of April.

In the corporation’s latest financial and operational activities report for April, it says the over 200 percent loss was recorded through the Nigerian Petroleum Development Company, a subsidiary of the Nigerian National Petroleum Corporation.

It said, “The report in April 2020 indicates an increased trading deficit of N30.81bn compared to the N9.53bn deficit posted in March 2020.

“The current hike of over 200 per cent is attributed to the 29 per cent increased deficit for NPDC due to ongoing coronavirus-related impact of reduced exports, coupled with the upsurge in corporate headquarters deficit arising from terminal benefits made to retired staff.”

It added, “In addition, PPMC, NGMC and Duke Oil Incorporated posted reduced surpluses arising from the COVID-19 effect of reduced demand, fluctuating prices and marketers’ unwillingness to lift products thus affecting revenue.”

Meanwhile, the report also stated that the corporation supplied a total of 0.94 billion litres of petrol, representing about 31.37 million litres per day, in the month of April.

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Nigeria’s Population to Hit 791m, Surpasses China by 2100 – Report

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Nigeria’s Population to Surpasses China by 2100 – Report

A recent report has predicted that Nigeria’s population will surpass that of China by the year 2100.

The new research conducted by the University of Washington’s Institute for Health Metrics and Evaluation projected that China’s population would peak at around 1.4 billion in four years time and moderated to about 732 million people by 732 million.

While Nigeria’s population is expected to rise more than the Chinese to 791 million by the same year to emerge the world’s second largest country after India.

The reduction in population was a result of the projected drop in global fertility rates going forward. However, the research predicted that the population of sub-Saharan Africa, the world’s poorest region, would triple in size to over three billion people by 2100.

Prof. Christopher Murray, a researcher and former Director of the Harvard Centre for Population and Development, said the surge in population in the region would lead to migration to many European and Asian nations with far less manpower as of the time.

Murray said, “We will have many more people of African descent in many more countries as we go through this.

“Global recognition of the challenges around racism are going to be all the more critical if there are large numbers of people of African descent in many countries.”

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